Subjective well-being, happiness and income: evidence of satiation

Is there an income level above which money no longer improves self-reported well-being? We revisit this unresolved question of satiation using five surveys that include direct questions about life satisfaction and experienced happiness. We highlight a satiation threshold for life satisfaction of €30,000 in France, €40,000 in Germany, €45,000 in the UK 60,000€ in Australia and €80,000 in the US, with only partial satiation for the two latter. Satiation is even more pronounced when it comes to experienced emotional well-being. With the exception of the US, it tends to settle at a lower level of between €25,000 and €30,000.