Clicky

  • Login
  • Register
  • Submit Your Content
  • Contact Us
Wednesday, August 28, 2024
World Tribune
No Result
View All Result
  • Home
  • News
  • Business
  • Technology
  • Sports
  • Health
  • Food
Submit
  • Home
  • News
  • Business
  • Technology
  • Sports
  • Health
  • Food
No Result
View All Result
World Tribune
No Result
View All Result

American millennials would take 20% salary cut for better work-life balance

February 1, 2024
in Business
Reading Time: 3 mins read
A A
American millennials would take 20% salary cut for better work-life balance
0
SHARES
ShareShareShareShareShare

American millennials would take 20% salary cut for better work-life balance

Millennials, who now boast over a decade of job experience, have seemingly had enough and are ready to take a step back. A whopping 55% of millennials worldwide are willing to sacrifice a hefty 20% of their paycheck for the sake of achieving a better work-life balance.

READ ALSO

Big Tech wants to keep stealing patents—so it’s going to war with Big Pharma

Lego has a historic half-year launching 300 new sets, opening 41 stores

Ford’s latest research, drawing insights from interviews with over 16,000 workers in 16 countries for its 2024 trends report, unveils that American millennials stand out in their pursuit of a more relaxed career trajectory compared to their Western counterparts.

In the U.S., 60% of millennials say they would wave goodbye to the traditional American dream of hard work and big salaries, opting to exchange a chunk of their income for a slower-paced life.

Contrastingly, only 43% of Gen Xers and a mere 33% of Baby Boomers would consider taking a pay cut to strike a balance between work and life. Even Gen Zers, who will be the lowest paid on average, are less inclined to compromise their salary for the sake of a harmonious work-life equilibrium.

“They are opting to step away from the constant hustle of career advancement and are willing to accept the potential sacrifices that come with prioritizing their own well-being,” the report says.

Contrastingly, in France, where after-hours emails are strictly banned, just 46% of millennials feel the same way.

Is it all just wishful thinking? 

Millennials and Gen Z may say they prioritize mental health and well-being more than previous generations, but Lewis Maleh CEO of the global executive recruitment agency Bentley Lewis tells Fortune that he hasn’t witnessed first-hand an uptick in young candidates exchanging balance for lower salaries—and ultimately, it could be nothing more than wishful thinking.

“While the desire for a better work-life balance among young workers is evident, whether they can afford to accept lower salaries to achieve this balance depends on their individual financial circumstances and the broader economic environment,” he says.

But according to Saira Demmer, the CEO of SF Recruitment, the housing crisis is actually to blame for job seekers prioritizing happiness over pay.

“For younger employees who don’t see as close a link between the career ladder and their ability to get on the property ladder as previous generations did, the pressure just isn’t worth it.,” she says.

“So they are opting for less intense jobs that typically come with lower pay, but give them more time and peace of mind back to prioritize their family, friends and personal wellbeing.”

With an age range from 27 years old to 42, millennials are no longer the youngest generation of workers, and Maeve Houlihan, associate management professor of UCD College of Business, points out a significant consideration for this cohort of workers is whether they want or already have children.

“We are certainly seeing more examples of folk in that category making the assessment—if I can’t have those things right now, other priorities like travel become more appealing,” he says.

But for those “with dependents and mortgages, choices are less fully ours to make.”

Workers are putting themselves first because of AI and climate change

Although most millennials said that they’d sacrifice their salary for better work-life balance, that doesn’t exactly mean that everyone else is grinding any harder.

Over three-quarters of all the respondents Ford surveyed said that they prioritize a balanced personal life over advancement at work.

Essentially, while they won’t take a pay cut, they’re happy to clock off on time and not put in that extra effort to impress their boss.

“People everywhere are feeling anxious, struggling to adjust to a changing world that feels out of their control,” the report says, with its data highlighting that most respondents reported fear over their future thanks to climate change and AI.

For 77% of respondents, prioritizing themselves is helping them take command and feel a sense of control in an otherwise “unpredictable” world.

Meanwhile, eight in 10 people surveyed say they have come to recognize the importance of finding inner peace because of the current headwinds.

According to the researchers, it’s inspiring workers across the board to ditch their screens, let go of toxic relationships, set personal boundaries, and prioritize going outdoors more in 2024.

Subscribe to the CEO Daily newsletter to get the CEO perspective on the biggest headlines in business. Sign up for free.

Credit: Source link

ShareTweetSendSharePin
Previous Post

Japan’s Aozora Bank tanks after flagging losses tied to US commercial property

Next Post

Inside Donte DiVincenzo’s no-conscience Knicks shooting surge

Related Posts

Big Tech wants to keep stealing patents—so it’s going to war with Big Pharma
Business

Big Tech wants to keep stealing patents—so it’s going to war with Big Pharma

August 28, 2024
Lego has a historic half-year launching 300 new sets, opening 41 stores
Business

Lego has a historic half-year launching 300 new sets, opening 41 stores

August 28, 2024
What does Pavel Durov’s arrest mean for his tech legacy?
Business

What does Pavel Durov’s arrest mean for his tech legacy?

August 28, 2024
Lowe’s followed Tractor Supply, Harley Davidson and John Deere in backing off DEI initiatives
Business

Lowe’s followed Tractor Supply, Harley Davidson and John Deere in backing off DEI initiatives

August 28, 2024
Gen Z tackles frustrating job market
Business

Gen Z tackles frustrating job market

August 28, 2024
Nvidia employees are so rich that they shrug off high pressure
Business

Nvidia employees are so rich that they shrug off high pressure

August 27, 2024
Next Post
Inside Donte DiVincenzo’s no-conscience Knicks shooting surge

Inside Donte DiVincenzo's no-conscience Knicks shooting surge

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

What's New Here!

David Stearns won’t say Mark Vientos is Mets’ long-term third baseman

David Stearns won’t say Mark Vientos is Mets’ long-term third baseman

August 17, 2024
Prada building huge Hong Kong store 4 years after shuttering its flagship

Prada building huge Hong Kong store 4 years after shuttering its flagship

July 29, 2024
A kids’ activity tracker that was fun for me, an adult

A kids’ activity tracker that was fun for me, an adult

August 8, 2024
Kevin James recreates viral video in electric Mets moment

Kevin James recreates viral video in electric Mets moment

August 21, 2024
LeBron James has decided if Bronny can call him ‘Dad’ with Lakers

LeBron James has decided if Bronny can call him ‘Dad’ with Lakers

August 28, 2024
Polish billionaire ‘Locker King’ weighs legal action against Meta over deepfake ads

Polish billionaire ‘Locker King’ weighs legal action against Meta over deepfake ads

August 14, 2024
Punches thrown as tempers flare during Jets-Panthers skirmish

Punches thrown as tempers flare during Jets-Panthers skirmish

August 15, 2024

About

World Tribune is an online news portal that shares the latest news on world, business, health, tech, sports, and related topics.

Follow us

Recent Posts

  • Watch out, there’s a new AI pin in town that can transcribe all your conversations
  • ESPN’s Adam Schefter fuels Travis Kelce engagement ring buzz
  • Futureproofing Food Supply Chains Through Sustainable Transportation Practices
  • Cryptocurrencies slide amid a wave of long liquidations, bitcoin briefly falls under $60,000

Newslatter

Loading
  • Submit Your Content
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2024 World Tribune - All Rights Reserved!

No Result
View All Result
  • Home
  • News
  • Business
  • Technology
  • Sports
  • Health
  • Food

© 2024 World Tribune - All Rights Reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In