Socio Socio-Economic Impact of Wage Inequality on Employee’s Satisfaction

Authors

  • Dr Saima Asad Assistant Professor, Department of Economics and Agriculture Economics, PMAS UAAR, Pakistan
  • Naima Malik Mphil Scholar Department of Economics and Agriculture Economics, PMAS UAAR, Pakistan
  • Dr. Saqib Yaqoob Malik Multimedia University, Malaysia, Preston University, Islamabad

DOI:

https://doi.org/10.59365/amsj.3(1).2024.124

Keywords:

Income inequality; socio-economic factors; employee’s satisfaction; public sector; private sector; university employee; bank employee; hospital employee; social factors; behavioral factors; psychological factors; economic factors happiness and motivation

Abstract

This study addressed the research gap in understanding the factors that contribute to wage inequality and their impact on employee satisfaction in the public and private sectors. The study's objectives included exploring factors contributing to wage inequality, examining the impact of socio-economic factors on job satisfaction, and proposing measures to reduce wage inequality and improve job satisfaction in both sectors. The study collected primary data through questionnaire method from the public and private sectors of twin cities to estimate the direct effect of independent variables on employee satisfaction. The stratified sampling technique was used for the comparison of employees who are more satisfied either in the private or public sector. The study also used a binary logistic
model to examine the null hypothesis, which stated that there was a significant gap in employee fulfillment among private or public sectors and that there was a significant difference in socio-economic factors of employees in both sectors. The analysis included 407 cases. The frequency of private institution employees was 186 while public institution employees was 221. It is believed that the study's
findings will contribute to the current conversation about pay disparities and provide organizations and decision-makers with practical advice for raising satisfaction with work and decreasing wage inequality.

Published

2024-12-18

How to Cite

Dr Saima Asad, Naima Malik, & Dr. Saqib Yaqoob Malik. (2024). Socio Socio-Economic Impact of Wage Inequality on Employee’s Satisfaction. Administrative and Management Sciences Journal, 3(1), 107–118. https://doi.org/10.59365/amsj.3(1).2024.124