An analysis of income satisfaction in Türkiye: An application of ordered and generalized ordered logistic regression for managerial-level employees

Income satisfaction is one of the ways in which individuals evaluate their level of economic well-being and is directly related not only to the amount of material income, but also to individuals' living standards, expectations and socio-economic environment. In Turkey, it is observed that individuals working in managerial positions in the private and public sectors have a high expectation of quality of life in line with their social status and responsibilities. However, it is thought that managers' satisfaction with their income levels is shaped by various individual and environmental variables. In this context, analyzing the determinants behind income satisfaction is important for the development of workforce policies and managerial approaches. The study utilizes data from the Turkish Statistical Institute (TurkStat) Turkey Family Structure Survey Micro Data Set. Using a generalized ordered logistic regression model, the factors affecting the income satisfaction of individuals working in managerial positions in Turkey are analyzed multidimensionally. The findings reveal that income satisfaction is not only limited to the level of financial income, but is also shaped by individuals' living conditions, social environment and psychological state. In the context of regional differences, it is observed that executives living in some regions other than Istanbul (TR2, TR3, TR7) are less satisfied with their income. In addition to socio-demographic factors such as marital status, parental education, and rental income, factors such as increase in net income and having children have a positive effect on the level of satisfaction. On the other hand, the psychological state and social relations of the individual also play a determining role in satisfaction. In particular, unhappiness increases the likelihood of both satisfaction and dissatisfaction, leading to an unstable and unbalanced perception of income, while social loneliness decreases the level of satisfaction. All these findings indicate that the income satisfaction of managers should be addressed with a multidimensional social-political approach and that more inclusive wage, support and welfare policies for managers should be developed. Keywords: Income Satisfaction, Managerial Employees, Ordered Logistic Regression, Generalized Ordered Logistic Regression