I think it would be determined by the extent of job security attached to the job. Young professionals who are looking for career expansion and opportunities to prove themselves would care less about job security at that stage in their career. However as the time progresses and one's position in the firm solidifies, the pay ceases to be an incentive. After a point, job satisfaction is not related to the pay, in fact being overpaid might even be discouraging. John Stacey Adam's equity theory suggests that employees seek fairness between the inputs that they bring to the jobs and outputs that the company rewards them with in form of payment. When this equilibrium is disrupted by what the employee perceives as a pay higher than what the inputs are, a feeling of dissatisfaction arises.

The answer to this question will differ depending on what stage one's career is in, but the relation between pay and satisfaction is not so simple.

I would like to take up it in different way. Handsome pay & good money management brings security in life. However we need to understand job security or insecurity. In today's volatile, uncertain, complex and ambiguous time one needs to very closely keep watch on her current competency sets and keep making them relevant. Cool temperament helps us to plan proactively a d take timely actions. So instead of getting afraid of insecurity we should focus on keeping ourselves relevant.

When we plan for a new job or the first job the important criteria we always look after is either pay or job security? It is important to understand that what is important for us? I personally believe that when you are young & have a stable family life then the major importance should be given to payment as it will help in rising in career. However, if you are a person with a family and children then the job security is important.
It is important to understand payment gives you boom in your career , better living and stable economic condition , however job security gives you stability in your life , peace of mind for family and continuous well being.
Hence to conclude with both the payment and job security are important , however everything has it's own importance at right point of time.

Pay is what gives you the luxury to own what you want, and security , the promise that you can do it for as long as you want to.
Both are important, given the restraint to pick one, I would choose pay for the simple if there's a job that you is secured but doesn't pay you enough, you might just not want to take it whereas if there is one that is throwing a lot of money at you but doesn't promise you that they will have you in office forever, you would definitely like to take a shot.

According to me job security is much important than pay.If a person is secure for his job,he will perform better & ultimately that will reflect in his pay....If he is not satisfied with the job or he is under pressure he will never be able to grow in an organization.

According to me job security is very much important than pay. If our job is secured then only we would be able to earn better.And if our job is not secured, than our career path will become unstable, so in this case we will never become high earners.
According to a study more than 70% people believe that job security is much more important than pay. So we should first ensure that our job is secured for long period rather than focus on pay.

According to me, Job security is important than pay. Because now a days we can see many educated people are unemployed. And finding the new job is very difficult because there is a huge competition. So if you have a security for your job you can concentrate on work without any disturbances or tensions.

Hard work is way to get good pay and secure your jobs too
If you are insecure of losing your job that means you are not putting enough efforts so that employer will retain you, and there in no point having a good pay until and unless you are adding value to your skill. The More you learn the more good pay and secure jobs will come your way!!!

Question is What is Important : Answer in Both

Pay or job security, if will differ from person to person, like if a person is good at his work and if he is confident about his skills then he will look for pay, he won't bother about security, because he has skills, so he can work any where and even every company is ready to take that person. but if a person does not have proper skills then that person will look for security. Not only skills, based upon different factors employees priority will change. According mallows principal, safety needs are top most priority for employees, even in the present, because of economical issues employees are looking for security only. Even most of the employees will work more effectively and efficiently if they satisfy with safety needs, which will be provided by an organization. So this will depends upon employee to employee whether they need security or pay.

In today's world , I think both the pay along with the job security is very important for any employee. Pay is important as it decides the income of the employee which is the basic salary of the individual and anyhow its very crucial for every human being as it helps in fulfilling the needs and desires of the individual. But on the other hand , the employee will get the pay only when he is at his job. If the employee is rest with no job then there will be no way. In such case the job security becomes the most important thing for the individual. Once the employee has the job security , he or she can perform with greater zeal in the organisation towards the achievement of the goals. That will also ensure a regular pay. Hence, i think both pay and job securtiy goes hand in hand.