That's a quite an interesting paper! That said, the final results still line up with my intuition, which is that there are diminishing returns, as evidenced by the log(income) relationship that that new study identifies.

I already make a 90th percentile income for my area, and I don't feel that investing additional mental and emotional resources in maximizing salary is the best route forward for pursuing happiness. I think that at this point there are other axes to optimize on that provide greater marginal gains to happiness.