Value system and life satisfaction: exploration of well-being amongst Indian students

This paper proposes to establish a connection between two variables – Value System and Life Satisfaction – amongst Indian students. Ten value types are measured based on Schwartz’s Theory of Basic Values. A value, defined by Milton Rokeach (1973) is ‘an enduring belief that a specific mode of conduct or end-state of existence is personally or socially preferable to an opposite or converse mode of conduct or end-state of existence’.  While the dependent variable, as in life satisfaction refers to how comfortable an individual is with regards to the social, economic, religious/spiritual and personal aspects of their lives. The data was collected from 100 college-going students using the random sampling technique. For the purpose, two paper-pencil tests were used. One of the two tools was The Portrait Values Questionnaire (PVQ) by Shalom Schwartz (2001), which is used to measure an individual’s value system. It comprises of 40 items and 10 variables, which include conformity, tradition, benevolence, universalism, self-direction, stimulation, hedonism, achievement, power and security. While the second instrument used was Sense of Coherence Scale from the “Satisfaction With Life Scale” (1985) which measures life satisfaction of an individual. It consists of 29 items and one factor, which is life satisfaction itself. Analysis of the collected data was done using Excel and SPSS. To analyze the collected data, a correlation was used. All of the values exhibited a negative correlation with life satisfaction. However, the correlation coefficient of stimulation, achievement, power, and security in comparison to life satisfaction was found to be the lowest.