New research has revealed that entrepreneurs are actually happier than those who work white collar jobs. A study from researchers at ETH Zurich found that entrepreneurs display more positive emotions and fewer negative emotions on social media.
The study looked at a sample of nearly 25,000 people, using Crunchbase to code whether someone was an entrepreneur or not. Twitter data was then used to study the displayed emotions.
According to this analysis, despite the high uncertainty, financial pressures and work load, entrepreneurs seem to be happier.
A similar research carried out in the UK by an employee engagement company Personal Group, surveyed 800 employees, including 124 self-employed workers, and found that over 60 per cent of those who are self-employed look forward to going to work.
The research found that self-employed workers feel more satisfied with their job, with 70 per cent saying that they are happy at work, whilst over 80 per cent said that they are proud of the work that they do.
Over 90 per cent of self-employed respondents said that they believe they are in a job that is worthwhile, compared to 76 per cent of those who are in a regular job.
Regular employees feel less satisfied with their job, with 48 per cent saying that they are not content. Front line staff were found to be the least satisfied, with 30 per cent not being happy with their nine-to-five hours.
Another Study carried out on some 11,000 Wharton graduates about their happiness levels, also found that, earnings were definitely not the biggest predictor of happiness. Entrepreneurship was. Those running their own businesses were the happiest of the grads, no matter how much money they made.
“We were surprised that entrepreneurship was such a dominant factor,” Wharton management professor Ethan Mollick, who co-authored the research, commented.
Happiness is being your own boss
Why were founders so much more cheerful than those who went into banking or finance, despite generally earning less? Wharton management professor, Ethan Mollick, believes that control and autonomy have a lot to do with it. “Entrepreneurs are working really hard,” he says. “But there’s a sense that they have control over their own time, even if they’re putting in a huge number of hours.”
Blogger and entrepreneur, James Clear makes a similar observation. “The feelings of empowerment and self-confidence that come from entrepreneurship find their way into virtually every area of your life,” he believes.