The development of a short Money Ethic Scale: Attitudes toward money and pay satisfaction revisited

In order to measure peopleʹs attitudes toward money, a 12-item Money Ethic Scale (MES) was developed based on a sample of 740 subjects. Three factors were identified: Success, Budget, and Evil. Attitudes toward money as related to peopleʹs demographic variables, personality variables, and job satisfaction were examined. Those who scored high on the Money Ethic Scale (the overall Money score) tended to have high economic values, low religious values, high Type A behavior pattern, to be older, to have low pay satisfaction, and high political values. Implications related to compensation management are discussed.