psychic income

Intermediate 👥 Human Resources

Definition

The non-monetary rewards of a job like satisfaction, prestige, or meaningful work. It's what employers offer when they can't offer competitive salaries, as if pride pays student loans.

Example Usage

The nonprofit offered strong psychic income and weak actual income—turns out 'making a difference' doesn't cover rent in this city.

Origin

Economic concept dating to the 19th century, increasingly used in HR to justify below-market compensation

Fun Fact

Research shows psychic income matters most to workers who already have their financial needs met—for everyone else, actual income matters significantly more.

Source: Compensation philosophy and total rewards terminology

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