Report provides insight into salary perceptions

A new study has revealed how perceptions of salary within a workplace can affect the wellbeing of employees.

Researchers based at the University of Warwick polled 16,000 workers and found that the level of pay relative to colleagues is of more concern to most than how their pay packet compares to similar jobs elsewhere.

The report, which was published in the Industrial Relations journal, is of particular relevance to those looking for graduate jobs, as the sample surveyed was made up completely of undergraduates.

'Our study shows how ordinal rank has a statistically significant effect upon well-being,' said the authors of the research.

'Results show that human wellbeing depends in a particular way upon comparisons with others.'

The findings follow a report by the Association of Graduate Recruiters which revealed the median graduate salary currently standing at £24,500.