Gross Domestic Product (GDP) has long been an indicator of economic growth.There is an on-going debate on whether high growth increases well-being.The terms ‘happiness’ and ‘life satisfaction’ are often used interchangeably to explain the subjective well-being levels of individuals.This study examines if both happiness and life satisfaction of Malaysian citizens are explained by the same factors based on a sample size of 1289 adopted from the 6th waves of World Values Survey (2010-2014).Outcomes from the ordered logit regression analysis indicate that income has strong positive relationship with happiness and life satisfaction.This study supports Easterlin paradox partially, which
indicates a positive association between happiness and income in the short-term.Other common income related factors that have positive and strong significant impact on both happiness and life satisfaction are health status, employment and satisfaction on financial situation of household
