A study carried out by Teagasc and UCD has found that farmers work longer hours for less money than most other occupations.
The report also found however that farmers are just as happy with their quality of life as their urban counterparts.
Over two thirds of the farmers surveyed consider their life to be relaxed and balanced.
Researcher Pat Bogue said farmers believe that being their own boss, doing a job they like and working with nature makes up for the lower income.
Mr Bogue added that although urban families may have higher incomes, they also have a higher cost of living, coupled with greater mortgage and commuter costs.