By: Maurice Gilbert
A recent survey by CareerBuilder revealed that most Americans (65 percent) are unsatisfied with their current salaries, with only 35 percent feeling content with their pay.
Naturally, the lower the income range, the less satisfied workers are with their earnings. There seems to be a tipping point, however. According to the survey’s findings, workers making $75,000 to $100,000 or more per year felt they earned their desired salary. The $75,000 figure is significant, as at this rate of pay, households in most areas of the country are able to make ends meet and still have disposable income left over. Being able to sock away some money into savings and possibly even afford a vacation now and again does buy a sense of security.
The survey also found:
• 39 percent of men and 30 percent of women were happy with their pay
• 29 percent of men and 15 percent of women felt they needed to earn $100,000 or more to feel successful
• 55 percent responded that they can feel successful in their careers when earning less than $70,000
It’s likely that many workers are as concerned as they are in particular because of looming student loan debt. Even the highest-paying jobs – surgeons, general practice physicians, attorneys, etc. – come with years of expensive postgraduate schooling, leaving even those who eventually earn six-figure salaries saddled with staggering monthly loan payments.
In many cases, large paychecks are trade-offs for advanced skills, high stress and long hours – both in pursuit of the job and once in the career of choice. Something to consider when assessing just how satisfied you are with your pay.
Maurice Gilbert is Managing Partner of Conselium Executive Search which specializes in placing Compliance Officers and Regulatory Counsel for clients in the U.S., Europe, Latin America and Asia Pacific. Maurice can be reached at www.conselium.com or maurice@conselium.com.
Published by Conselium Executive Search, the global leader in compliance search.
