Money doesn't buy happiness at work, apparently

The size of your pay packet doesn't guarantee happiness and fulfilment at work, according to a survey of 1000 workers across 20 professions which found bankers and financial services workers to be the most dissatisfied and unhappy in their jobs.

Bankers came joint bottom - 17th - in the City & Guilds Happiness Index, along with builders, IT specialists and nurses.

Call centre workers came in 16th on the table, while journalists don't fare much better at joint 13th on the index along with mechanics and HR staff.

On the other end of the scale, beauty therapists and hairdressers came out on top and were found to be the happiest workers, followed by those in the armed forces.

City & Guilds says the survey found that "happiness levels remain constant regardless of salary".

According to the research, financial rewards are not the most important factor for workers when choosing to stay with a curent employer. A keen interest in the work was sited by 57% as the main reason to stay with a current employer, followed very closely by 'good relationships with colleagues' (56%). The survey found that less than half of staff - 44% - will stay in a job as a direct result of salary.

Bob Coates, MD of City & Guilds, says the findings show that companies can no longer rely on established reward and recognition policies as these "fail to resonate with employees and do little to combat stress levels in the workplace".

"By taking such a blinkered approach, they risk the rise of an unmotivated and unproductive workforce, and even potentially losing their staff to competitors,” he says.