Abstract
Previous research shows that job satisfaction often increases sharply upon initial entry into the new job and gradually falls back to the baseline level over time. In this study we propose that this ‘honeymoon‐hangover’ pattern is affected by both the direction of occupational mobility and the individual’s personality in terms of extraversion and neuroticism. Drawing on the British Household Panel Survey which followed 10,000 individuals annually for eighteen years, this study shows that only those who move up the occupational class ladder experience significant ‘honeymoon’ effects, while those who move downwards experience dissatisfaction that lasts for several years after the transition. While the positive effect of upward mobility is not amplified by extraversion, the negative effect of downward mobility is exacerbated by neuroticism. This study highlights the importance of taking into account both situational and dispositional factors for understanding the long‐term impact of career change on subjective well‐being.