Pre-print, Working paper: We here consider the effect of unfair income on both subjective well-being and objective future job quitting. In five waves of German Socio-Economic Panel data, those who perceive their labour income to be unfair have significantly lower subjective well-being, both in terms of cognitive evaluations (life and job satisfaction) and affect (the frequency of feeling happy, sad, angry and worried). Perceived unfairness also translates into objective labour-market behaviour, with current unfair income predicting future job quits.