28 Apr 2018 15:33 IST

Millennials don’t mind switching jobs for a pay hike: Survey

80% of respondents in the study agreed to move on in order to secure a raise in salary

Majority of the working millennial do not mind switching jobs to get a hike in salary. According to a survey conducted by an online job-search Indeed.com, 80 per cent of the respondents in the 25-34 year age group agreed that they would consider changing their job in order to secure a pay rise. “Millennial job seekers in particular are today exploring highly aspirational career paths, and are not afraid of seeking greener pastures and newer experiences to further their professional goals and widen their horizons,” said Sashi Kumar, Managing Director, Indeed India.

However, a number of respondents also said they would prefer alternative benefits at work in place of a pay raise. Over 60 per cent said flexible work hours as an alternative to a pay hike, while 47 per cent suggested an increase in annual leave.

Another finding showed that out of the respondents who do not plan to ask for a pay raise, 43 per cent claimed that their present salary was satisfactory.

The survey was conducted across industrial sectors in India in order to gauge their expectations on wage growth in 2018.

Over 50 per cent of respondents planning to ask for a pay rise cited their good work as the reason they should be rewarded. On the other hand, a significant number of respondents said they should be compensated for extra hours of work put in by them.

One of the major findings of the report was that 93 per cent of the respondents definitely plan to ask for a pay rise in the upcoming appraisal cycle for 2018.

Also, 67 per cent of women respondents confirmed that they would ask for a pay raise in comparison to 64 per cent of men. The figure thus highlights that more women are dissatisfied with their current pay than men.