Survey Finds Workers Value Money Over Time

In these times of inflation, employees prefer a pay raise over additional vacation, according to a survey from CareerBuilder.

The survey of U.S. adults conducted by The Harris Poll found that 66% prefer a 10% pay increase over an additional week of paid time off. Among employed adults, 47% said they most appreciate a good salary alongside job security.

The survey also revealed:

• 89% of employed adults expect an annual pay increase from their company
• 46% are looking for a raise of at least 5% and 16% expect a yearly raise of 10% or more each year
• 49% of employees express confidence that the rise in wages will keep up with inflation, with Generation Z (55%) and millennials (62%) more optimistic than Generation X (38%) and baby boomers (20%)
• 53% said they must work more than one job to make ends meet, including 66% of millennials, 57% of men, and 49% 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.”