This study investigates the relationships among perceived competitive wage, job satisfaction, employee morale, and perceived financial well-being through a serial mediation model. Using a nationally representative dataset of 2,036 U.S. full-time employees under 50 years old, split evenly between state and local government and private sector workers, the study examines whether job satisfaction and employee morale mediate the impact of perceived competitive wage on financial well-being. Grounded in Self-Determination Theory and Equity Theory, the model hypothesizes that competitive wage perceptions improve financial well-being both directly and indirectly by fostering job satisfaction, which in turn enhances morale. Structural Equation Modeling (SEM) with control variables for age, gender, income, ethnicity, and marital status confirms significant direct and indirect effects. Results show that perceived competitive wage positively affects financial well-being, with job satisfaction and morale as significant mediators in this relationship. These findings underscore the importance of fair compensation and supportive work environments for enhancing financial well-being, suggesting that organizations can benefit from wage policies and workplace practices that promote satisfaction and morale. This study contributes to the understanding of workplace factors influencing employee financial health, with implications for human resource management and organizational policy.
