在过去的几十年里，关于薪酬满意度的问题得到了大量的研究，这些研究主要从以下三个方面进行探讨和论述：一是关于薪酬满意度的前因变量和决定变量问题；二是探讨薪酬满意度的内在结构维度；三是验证薪酬满意度与组织结果变量之间的关系。 大多数的研究都是以公平理论和差异理论为基础。然而前景理论的参照点效应更能解释薪酬满意度的形成原因和作用机制。本文在回顾薪酬满意度研究历史与现状的基础上，阐述了前景理论比前两种理论在解释薪酬满意度上的进步与优势。并对薪酬满意度的参照点效应及其形成机制做了以下5 个假设： 1) 薪酬满意度是由多重参照点共同作用产生的一种混合情绪； 2) 金钱观对薪酬满意度及其参照点的选择具有显著的影响； 3) 工作价值观对薪酬满意度及其参照点的选择具有显著的影响； 4) 薪酬满意度的多重参照点效应具有不对称性、边际递减等价值函数的特征； 5) 薪酬满意度的多重参照点按照独立模型产生作用。 随后，分别采用问卷调查方法和实验室实验方法对上述假设进行了验证。在问卷调查研究中，对219 名在职工作人员进行薪酬满意度、金钱观和工作价值观等问卷的调查，并采取方差分析和逐步回归分析的方法对调查数据进行分析，得出的主要结论如下： 1) 总体上，对薪酬满意度具有显著影响的参照点有4 个，这些参照点既有内在维度的参照点又有外在维度的参照点； 2) 不同的金钱观水平在薪酬满意度上并没有显著的差异，但在参照点维度的选择上有明显的不同。 3) 不同类型的工作价值观不仅在薪酬满意度上具有显著的差异，并且在参照点维度的选择上也具有明显的区别。在问卷调查研究结果的基础之上，采用实验的方法进一步验证薪酬满意度的多重参照点效应及其作用机制。实验以96 名大学生被试为研究对象，让这些被试对一系列实习工作中的假设场景做出薪酬满意度的判断，收集被试在不同参照点数量以及不同参照点水平下薪酬满意度的数据。对实验数据进行回归分析和均值比较，得出的主要结论如下： 4) 薪酬满意度具有前景理论价值函数的不对称性特征。在满意区间，薪酬满意度也具有边际递减的特征；但在不满意区间，薪酬满意度是边际递增的。 5) 多重参照点遵循独立模型对薪酬满意度产生作用。 本文最后将对研究的一些不足以及对下一步研究的展望做简要的阐述。

In the last decades of years, the considerable researches have examined or verified pay satisfaction. These researches can be classified into 3 categories: the first one focuses on theantecedents and primary determinants of pay satisfaction; the second one explores its dimensions;and the third one examines the relationship between pay satisfaction and organizational outcomes. Most of these researches are based on equity theory or discrepancy theory. But perspective theory is a more powerful one to explain the causes and effects of pay satisfaction. This paper reviews the historical and current researches about pay satisfaction first, and thenexplains why perspective theory is a more powerful explanation than equity theory and discrepancy theory. Five hypotheses as below will be proposed: 1) Pay satisfaction is a mix feeling which is generated by the comparisons of multiple reference points. 2) The love of money has significant effect on pay satisfaction and its preference of multiple reference points. 3) Work value has significant effect on pay satisfaction and its preference of multiplereference points. 4) The characteristic of pay satisfaction’s multiple reference points have the asymmetriceffect and diminishing sensitivity, which are the principle of value function in perspective theory. 5) The comparison of pay satisfaction’s multiple reference points is in accord with theseparate pattern. Both questionnaire survey and experiment method are applied to verify these hypotheses. Questionnaire survey collected data about pay satisfaction, the love of money and work value from 219 employees. The ANOVA and stepwise regression analysis is used respectively and the conclusions are drawn as below: 1) In general, there are 4 reference points, which include both inner and outer referencepoints, have significant influence to pay satisfaction. 2) The love of money has no significant effect on pay satisfaction but influences the preference of its reference points. 3) Work value has significant effect on both pay satisfaction and the preference of its reference points. The following experiment requested 96 college student subjects to answer their pay satisfaction according to a series of scenes about internship. Regression analysis and mean comparison are used to analyze the experiment data and two conclusions are suggested: 4) The characteristic of pay satisfaction’s multiple reference point has the asymmetric effectbetween satisfaction and dissatisfaction domain. It also shows diminishing sensitivity within the satisfaction domain, while an opposite outcome is found within the dissatisfaction domain. 5) The comparison of pay satisfaction’s multiple reference points is in accord with theseparate pattern. The limitation of this paper and the recommendation for further research are presented at the end of the paper.