Study: U.S. Workers Don’t Measure Success with Six Figure Earnings
For many people, a six figure salary is not a measure of success, this according to a study which finds a vast majority of Americans feel successful earning up to $70,000.
The study by CareerBuilder finds that the majority –75 percent– of American workers across industries don’t feel that they need to earn six figures in order to be successful. Twenty-eight percent of those surveyed said they would consider themselves successful earning between $50,000 and $70,000, while twenty three percent reported they would fell successful earning less than $50,000.
One in ten workers surveyed said they need to pull in $150,000 or more.
The study, conducted by Harris Interactive© on behalf of CareerBuilder from February 9 to March 2, 2012, included more than 5,700 workers across industries and was published in the New York Times on June 13.
Most workers reported they currently earn their desired salary (23 percent) or are close to it (45 percent). Nearly one-third (32 percent) said they are not anywhere near their target pay level according to the study.
“While compensation is definitely important, workers don’t necessarily equate success with hefty incomes,” said Rosemary Haefner, Vice President of Human Resources for CareerBuilder. “Often you’ll see intangibles such as the ability to make a difference, a sense of accomplishment and work / life balance eclipses the size of a paycheck in what matters most to workers.”
Men were nearly twice as likely to feel that they need to earn six figures to be successful – 32 percent of men compared to 17 percent of women. Unsurprisingly, going by current salary levels, men were also more than twice as likely as women to actually earn $100,000 or more.
CareerBuilder is the global leader in human capital solutions and works with the world’s top employers, providing resources for everything from employment branding and date analysis to recruitment support.