Bankruptcy

Less than 30% of U.S. workers say their content with their current salary, according to a recent survey from Kickresume.

Eighty-percent of workers say they are skeptical whether their employer understands the true cost of living, the data showed, with just 18% saying they fully trust their company to pay them fairly without asking. Meanwhile, 16% said they are really disappointed with their salary.

“They don’t believe their employers understand the cost of living right now, or trust their employers to pay them the salary they’re looking for without them pushing for it,” said Peter Duris, CEO and co-founder of Kickresume.

“What’s more, nearly a quarter believe that their bosses don’t even care about the economic hardship that many employees are facing,” he added. “Workers also believe that salary might be based just as much on favoritism as it is on whether you’re doing a good job, with 47% saying both these factors are in play, and 18% saying favoritism makes more of an impact.”

How much more do employees think they should be making?

  • Seven-percent of employees think they should be paid 5% to 10% more.
  • Thirty-percent of employees think they should be paid 11% to 20% more.
  • Twenty-eight percent of employees think they should be paid 21% to 30% more.
  • Thirty-five percent of employees think they should be paid 30% more.

Duris said these results suggest many employees feel distrustful and disappointed with how pay is decided. “Companies that address these concerns and pay fairly may find their employees are more satisfied and likely to stay,” he finished.

Demographic breakdown:

  • Men were more likely to say they should be earning over 30% more (38%), while women leaned toward smaller increases.
  • A third of female respondents (33%) felt that 11% to 20% more would be fair, and 11% said even 5% to 10% more would be enough (as opposed to 28% and 6% for men respectively).

According to Kickresume, women may set their expectations lower, or at least more modestly compared to men. It could also reflect differences in how men and women judge fairness, or perhaps how confident they feel in stating what they deserve.

International breakdown:

  • USA: Most people here weren’t asking for dramatic increases. The largest group, 40%, said 11% to 20% more would be enough, while only 22% thought they should earn over 30% more.
  • EU: Europeans landed in a similar middle ground. 38% wanted 11% to 20% more, while 30% said they should be earning over 30% more.
  • Asia: This region stood out the most. Almost half of Asian respondents (49%) said they should be earning over 30% more, the highest share of any region. At the same time, only 1% said a small raise of 5% to 10% would be enough.

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