Money isn’t everything to everyone — even in the working world. New research from CreditLoan.com found that women would take “a pay cut” of 20.1% if it meant they had more time with their kids, while men would take 12% less.
The company surveyed 1,015 current American workers, ages 13 to 73, noting that the numbers are based “on self-reporting.”
Family is key
On the other end of the spectrum, women would just take 1.9% less of their paycheck for more time spent on “hobbies/recreation,” while men would take 2.3% less.
But while women who put family first make an average of $46,796 annually, men who put their kids first make an average of $66,882 in the same time period.
What different generations would take less cash to have more of
Millennials would take 7.7% less money if they could put their “marriage/romantic relationships” first, while Generation X would take 11.4% less for more time spent on the same thing. Baby Boomers would take 9.3% less for more time with their kids.
Furthermore, for millennials and people in Generation X, spending more time with family was linked to having more cash— the former made $4,000 more annually, and the latter made $8,000 more in that time period.
The research shows that employees think there’s more to life than a paycheck.