Money doesn't buy you happiness but it might go some of the way if you're paid by the hour. According to research from Professor Jeffrey Pfeffer from Stanford, people are happier when they're paid by the hour, far happier than they would be if they received a flat salary. Getting paid by the hour lets them know how much they're worth. They know the exact worth of each hour of work. They also think about their income regularly and begin comparing the value of their time to the amount of their happiness. It also affects how you see the world beyond work. It's all about measures of self-worth.
"How organizations pay people has profound effects outside of that organizational context. If you're paid by the hour, you come to see your time in a certain way that doesn't change when you walk out of your employer's door," Pfeffer says.
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