Money isn’t everything, and young professionals in Singapore seem to know that it certainly can’t buy you happiness.
That’s according to a recent study which showed that happiness (76%) is in fact, the top indicator of success among Singapore professionals, followed by health (74%), which is also listed high on the list.
Aspects of career progression didn’t show up high on what defines success, in the study conducted by professional networking portal LinkedIn.
For example, only 46% of all respondents listed promotions as an indicator of success, pay raises received 31% while a six-figure salary got 35%.
The study was conducted online between Oct 12 and Nov 2 last year with 18,191 professionals across 16 countries. 1,113 respondents were based in Singapore, said a statement on Monday (March 19).
Young professionals between the ages of 18 and 24 are also more pessimistic about their current levels of sucsess, with only 40% of respondents considering themselves successful.
Attaining success does take time, with 71% of respondents aged 55 and above viewing themselves as successful.
What defines success also shifts with age, along with changing priorities in life.
Some 39% of these young professionals saw marriage as a success indicator while only 17% of professionals aged between 45 and 54 had the same view.
Younger professionals, some 44% of them, also consider earning a six-figure salary as an indicator of success while only 20% of those aged 55 and above aspire to earn big bucks.
Across all age groups, leisure time and having a strong social network ranked high.
Respondents ranked travelling (59%) and having good friends (53%) as success indicators.
When it comes to perceived barriers to success, some 27% of respondents aged 45 and above believe their age impedes their ability to succeed while fewer younger professionals (11%) felt that way.
“To many of us, success may no longer just be about scoring that promotion, pay increase or other status symbols like a corner office, if at all,” said LinkedIn’s senior director of brand marketing and communications (Asia Pacific and China) Mr Roger Pua.
“Interestingly, we find that professionals also find fulfillment and feel successful in many other ways, reflecting their different lifestyles. It could be getting enough quality time outside of work with the people you love, for example or feeling a sense of belonging in their communities.”