[pmg102]

Status, yes.

If you earn good money similar to your peers, your social opportunities will often be commensurate with those earnings.

If people know you earn less you may find them sympathetic eg suggesting cheaper social options. But if they know you earn as much as or even more than them, they may not look upon you so happily. They feel in a way cheated that instead of spending your money on time with them, you save it for future-you. Kind of selfish, it could be argued.