Thursday, November 14, 2019

61% of workers say they need this much more in salary to live comfortably

61% of workers say they need this much more in salary to live comfortably 61% of workers say they need this much more in salary to live comfortably Just because it’s a candidates’ market doesn’t mean it translates into high salaries and raises.A new report from Indeed reveals that just 18% of workers are living comfortably at their current salary, and 61% of all workers say they would need an average of $6,000 more in order to feel comfortable. This is the second year in a row where such a low percentage of employees were living comfortably at their current salary; last year’s number was 19%, according to the previous report from Indeed.Follow Ladders on Flipboard!Follow Ladders’ magazines on Flipboard covering Happiness, Productivity, Job Satisfaction, Neuroscience, and more!They’re getting raises, but not in the $6,000 range. Instead,   they’re small. While 75% of employees received a raise in the last two years, of that percentage, 85% received a raise of 6% or less.Forty-four percent received a raise of 3% or less â€" which is really just enough to keep up with the changes in the cost of living.A recent report from Payscale showed that companies had budgeted out just 3% for raises in 2019.Men are getting higher raises than women: 45% of men got raises of 4-6%, whereas 48% of women reported raises of 3%.Half of workers are planning on asking for a raise this year. Men are gunning for bigger increases than women are â€" step up, ladies â€" with men planning to ask for a 6-10% increase and women planning an ask of 5% or less.The situation of compensation combined with weak raises is dire enough that 20% would “definitely” consider leaving their job for more money elsewhere, and 39% would “possibly” do it.However, perks are non-financial ways to convince an underpaid employee to stay, and women were most enthusiastic about flexible work hours (42%). Men wanted more vacation time (37%).Still, 30% of workers want the money, hands-down, responding that there was “no substitute” for a higher salary.You might also enjoy… New neuroscience reveals 4 rituals that will make you happy Strangers know your social class in the first seven words you say, study finds 10 lessons from Benjamin Franklin’s daily schedule that will double your productivity The worst mistakes you can make in an interview, according to 12 CEOs 10 habits of mentally strong people

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