The poll looked at several economic factors, such as income and the wealth of the respondents' countries, in connection with each person's psychological needs, such as respect, happiness, personal life evaluation and support from family and friends.

The average person in the survey was relatively happy and satisfied with his or her life. But a larger income was more directly related to a stronger sense of happiness than with any other factor.

Overall, people who said they had a great life reported higher income, but that larger salary did not mean they felt happier on a day-to-day basis.

These findings were presented at the 117th Annual Convention of the American Psychological Association on Saturday.