Mostly every human being on earth has an ultimate goal in life, which is being happy. So, how will you become happy? Are money and happiness related? This article analyses the relationship between money and happiness.
Money and Happiness
The article ‘Financial Success and Good Life: What Have We Learned From Emprical Studies in Psychology’ written by Kent Swift aims to “critically analyze psychological studies comparing happiness and financial success” (Swift, p.191). In this study, the article will be analyzed in an objective way to see the most relevant points for a management student with the reasons that make these points relevant for management students.
In the early parts of the article, Swift states that “College students choose business as a carrier path for two primary reasons. First, they want the challanges and excitement available in a business setting. Second, the same graduates are also hoping for something else – financial success” (Swift, p.191). This statement is correct because everyone, including the management students, consider financial issues when they choose their carreer because everyone needs enough amount of Money in order to meet their needs and secondly everyone, including management students, wants to work in an area that they are excited in. So, as a result, the statement of the writer is correct.
The Relationship Between Money and Happiness
In addition, writer gives the definition of a term called Psychological Well-Being as “finding purpose in life, personal growth, self-acceptance, positive relations with others, environmental mastery, and autonomy” (Swift, p.193). This statement is directly related to management students because of different reasons. First of all, management students expect to become managers in the future and one of the most important personal qualifications of a manager is having positive relations with others and this is also mentioned in the definition of Psychological Well-Being theory.
Secondly, as stated earlier, management students want to become managers of the future but they do not start their carreer as managers. The graduate students start in lowe positions and then try to become managers as time passes. The most important thing that will help the graduate management students to become managers is their personal growth because managers are chosen from the ones who are grown personally. Since these two properties are included in the definition of this theory, it is linked to management students.
Lastly, the writer gives the definition of Subjective Well-Being and he states that “personality is one of the strongest ad most consistent predictors of Subjective Well-Being” (Swift, p.193). The writer continues by saying “A happy person typically has social confidants and is successfully making progress toward valued goals” (Swift, p.193). In this part of the article, the writer makes a generalization about happiness and well-being. For some people this statement may be correct but it is not correct for all the people.
If we look at the perspective of a management student or a management graduate, we can say that even if a manager is not happy about some certain issues in his or her daily life, he or she can still do well in his/her job and being good at the job that the person is working in may be more important than being happy in Daily life for that person. In this case, we can say that managers with a unhappy Daily life can still have a good sense of well-being because they may see being good at work as the most important part of their well-being.
Are Money and Happiness Related?
To conclude, the article which focuses on the relationship between financial success and good life is applicable for management students and graduades at some points. Firstly, it is stated that financial issues are important factors while choosing job, secondly positive relationships and personal growth increases objective well-being of people and these two statements are correct for management students.
The writer says well-being is related to happiness but at this point he is not totally true because different people can have different criteria for considering their well-being as high level. In addition to these, the suggestion for the readers for their further readings is that they should be aware that the statements in the article can be correct for some people and jobs but they may be incorrect for some other people and differnet job areas. They should analyze the articles for specific people and job groups while reading.
Swift, K. (2007). Financial Success and Good Life: What Have We Learned From Emprical Studies in Psychology. Journal of Business Ethics, 191-199.