Money matters most for a large percentage of working adults as 66 per cent would prefer to have a salary increase of 10 per cent rather than an additional week of paid time off. This was revealed in a survey by CareerBuilder, a global talent acquisition leader and job marketplace. Among those employed American adults, 47 per cent selected a good salary alongside job security as the aspects of their current job they most appreciate.
The importance of cash or salary is demonstrated again with 53 per cent – or more than one in two employed adults – work more than one job to make ends meet. This includes 66 per cent millennials, 57 per cent of men, and 49 per cent of women.
In the survey, 89 per cent of employed adults say they expect an annual pay increase from their company. Nearly half (46%) of employees are looking for a raise of at least 5 per cent and one in six (16%) expect a yearly raise of 10 per cent or more each year. When compared by gender, 57 per cent of men expect at least a 5 per cent raise compared to 36 per cent of women.
“In our most recent survey, the data shows that worker expectations are shifting right alongside inflation. Americans are looking for a larger than average annual pay raise at the same time we’re seeing an increase in the price of consumer goods and services,” said Susan Arthur, CEO of CareerBuilder. “Folks want to be able to earn a salary that matches the rising gas prices or hike in rent, for example.”