In these times of inflation, employees prefer a pay rise to extra vacation, according to a CareerBuilder survey.
The survey of American adults conducted by The Harris Poll found that 66% prefer a 10% pay rise to an extra week of paid vacation. Among employed adults, 47% said they valued good pay most alongside job security.
The investigation also revealed:
- 89% of employed adults expect an annual salary increase from their company
- 46% are looking for an increase of at least 5% and 16% expect an annual increase of 10% or more each year
- 49% of employees express confidence that rising wages will keep up with inflation, with Gen Z (55%) and Millennials (62%) being more optimistic than Gen X (38%) and Baby Boomers (20%)
- 53% said they had to work more than one job to make ends meet, including 66% millennials, 57% men and 49% women.
“In our most recent survey, the data shows that worker expectations are moving in line with inflation. Americans are looking for an above-average annual salary increase as we see the price of consumer goods and services rise,” said Susan Arthur, CEO of CareerBuilder. “People want to be able to earn a salary that matches rising gas prices or rising rents, for example.”
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