People nowadays often talk about how maintaining a healthy work-life balance is the key to finding happiness. I think that both are needed in order to be truly happy, but I am also of the opinion that one’s job affects one’s happiness more greatly than one’s social life. There are a few reasons for this.
First of all, people nowadays tend to spend more time in the workplace than in recreational social situations, so work may be a bigger factor in one's happiness just because it occupies a larger part of the day. I know of many people, for example, that work upwards of 70 hours a week. In my country this is quite normal. Averages out to a working time of 10 hours a day; assuming that most people spend about I hour commuting back and forth from work, and that they get at least 6 hours of sleep per day, that only leaves 7 hours of 'unoccupied' time at most. Realistically, errands will take up a part of that 'unoccupied' time, so the average person may only get a few hours per day to pursue their social life. A person's work life may thus dwarf their social life.
Second of all, jobs are in many ways what enable you to have a social life in the first place. In order to go out and do things you need money, and in order to get money, you need to work. How interesting and fulfilling would a person's social life be if that person couldn't go out to restaurants and movies, or take trips to faraway places? I'd bet that person's life would be pretty uneventful and boring. A well-paying job gives you more freedom to pursue interests and activities you enjoy with the people you love.
Admittedly, a good job can probably never fully replace a fulfilling social life. At the end of the day, we are social creatures. Though getting by despite having a poor social life is certainly possible, I firmly believe that every person needs a satisfying social life in order to be truly happy. However, this doesn't mean that social lives affect your happiness more than jobs do. A social life will not by itself make you truly happy either. People are also creatures that crave progress, and having a job is one of the most straightforward ways to pursue progress.
Work not only takes up more of a person's day than his or her social life, it in some sense is also what enables someone to have a social life in the first place. A good job could never fully replace a good social life, of course, but neither could a good social life replace a good job; both are fundamental to a person's happiness. Still, in the end, our modern way of living dictates that our jobs will have a greater effect on our happiness than our social lives do.