When is the benefit of more income outweighed by extra stress?
A study of 2,000 Brits has found that a whopping 91% think there’s a tipping point in our salaries where additional responsibilities and stress make earning extra money worthless.
The research, undertaken by Anchor Cheddar, suggests that a salary of over £37,396 would be much more carefully considered before an acceptance. Although such a sum seems attractive, the perceived responsibility it would bring would make 88% of the survey respondents turn it down.
Work-life balance
[SPOTLIGHT]Although we can’t really say whether or not we’d accept the offer until it was placed in front of us, the majority of participants said that their concern would be for their work-life balance. If they earned more, but it meant that other parts of their life suffered as a result, they would probably turn it down.
One in ten people had actually said no to a promotion, as they believed it would not be worth it, while a quarter had reduced their hours or moved from full-time to part-time work.
The average Brit apparently wants to earn a minimum of £24,270 to consider their life to be comfortable. According to the ONS, the median gross annual earnings for full-time employees was £27,200 in 2013/14.
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High salary or high satisfaction?
The research also showed that more than half of respondents would prefer to have a job that allowed them to have a fulfilled life, with a low or average salary, than an extremely demanding job that took up a lot of their time but paid well.
Two-thirds said that they’d take a job that they loved, but wasn’t particularly well paid, rather than one they couldn’t stand but with an excellent salary.
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