Testing the Effect of Level and Importance of Pay Referents on Pay Level Satisfaction

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Abstract
Using 162 pharmaceutical managers in a longitudinal research design, this study tested whether level and importance of a pay referent interacted to affect pay level satisfaction. Five pay referents (financial, historical, organization, market, and social) and three standardized pay level satisfaction scales (Job Descriptive Index, Minnesota Satisfaction Questionnaire, and Pay Satisfaction Questionnaire) were used. After controlling for employee salary, job inputs, job characteristics, pay system administration, and level and importance pay referent main effects, interactive effects were found which varied by pay satisfaction scale. Results and limitations of this study are discussed.