7/28/2014 - Pay Raise vs. Vacation Time?
Though some extra vacation time may be something that everyone would enjoy to have, a new survey suggests that they would trade vacation time in for some extra disposable income any day of the week.
Close to 8 in 10 Americans would opt for a pay raise as opposed to an extra week of vacation time, according to a new survey performed by staffing and recruitment firm Accounting Principals. In fact, during performance reviews, employees are more likely to discuss salary than having a more flexible schedule or a longer period of vacation.
Not even being able to leave the office an hour early on a regular basis would be enough to sway most workers from relinquishing some of their paychecks. Approximately 85% of respondents said that they wouldn't be OK with giving up even a small portion of their earnings if what they got back was a seven-hour work day, the poll revealed.
Jodi Chavez, senior vice president of the Jacksonville, Fla.-based employee placement company, indicated that many people still aren't experiencing the effects of the economic recovery.
"We are now more than five years after the recession began and while unemployment numbers continue to decrease, working Americans are clearly still feeling financially insecure," said Chavez. "For these hard workers, the value of that extra money in their pocket to help with bills or put toward savings far outweighs any other type of perk, such as more vacation time or a shorter work week."
Most get more satisfaction out of saving
Americans appear to be looking for a variety of ways in which to retain more of their hard-earned dollars - so much so that they'd often rather save than spend. In a separate survey performed by polling research firm Gallup, nearly two-thirds - 62% - of respondents said they get more enjoyment out of saving money than they do using it to buy things, which was preferred by 34%.
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