About 44 per cent workers believe they are underpaid for their job, as per a global survey. Among the over 32,000 workers surveyed across 17 countries, 62 per cent are confident they will get a pay rise, while 41 per cent are sure they will receive a bonus in the next one year. However, most feel that this pay hike will come their way only if they switch jobs.
About 83 per cent of workers hope to achieve a hike in salary over the next one year, either from their existing employer or by switching jobs. On average, they expect to obtain a pay rise of 8.3 per cent. About 34 per cent expect a hike of 10 per cent or more.
However, not all employers will be able to offer increments or bonuses. What happens then? As per the survey that also covered over 8,000 gig workers, about 39 per cent workers will be happy with additional paid leave if the employer cannot afford to give a pay rise. About 32 per cent will settle for shorter work weeks and 28 per cent will be happy with shopping vouchers. Twenty-six per cent will be happy with a one-off payment to help handle cost of living.
Increments for women are not at par with that of men. A year ago, men received an average pay rise of 6.7 per cent, while women received only about 6 per cent. Men also anticipate that their pay will rise by an average of 8.5 per cent in the coming year, whereas women anticipate a rise of 8 per cent. About 46 per cent men are more likely to feel they’re not paid enough, while 42 per cent of women feel they are underpaid for their job.