Would you accept a lower fixed salary?
24th June 2015
According to a recent Robert Walters survey, 57% of Irish professionals would be willing to accept a lower fixed salary with higher bonuses/benefits.
More than 6,700 professionals across Belgium, France, Germany, Ireland, Luxembourg, The Netherlands, Spain, and Switzerland were surveyed on a variety of employment related issues including working habits, job satisfaction, motivation and working environment.
Of the European countries surveyed, Spain and Switzerland ranked highest in those willing to accept a lower fixed salary with higher bonuses/benefits at 60% each, while France ranked lowest at 46%. When asked for which reasons would they accept a lower fixed salary, 21% of professionals stated they would accept a lower basic rate of pay in return for guaranteed higher bonuses.
Non-monetary factors also influenced the reasons why professionals would consider a lower fixed salary, with 10% stating a move into a different sector and 31% stating a better work/life balance as primary motivators. Across all countries surveyed, a greater work/life balance was quoted as the main reason professionals would accept a lower fixed salary. 30% of professionals throughout Europe stated they would not accept a lower fixed salary under any circumstances.
Louise Campbell (pictured), Managing Director at Robert Walters Ireland, says: “The quest to find a better work/life balance continues and is apparent across all European countries surveyed, irrespective of industry sector, age or gender.”
57% of Irish professionals would be willing to accept a lower fixed salary for larger bonuses/benefits. When asked for which reasons would they accept a lower fixed salary, 17% would accept a reduction in their fixed salary for a guaranteed higher bonus. Similar to the European results, non-monetary factors also influenced professionals, with 12% stating they would be willing to take a pay cut for the opportunity to move to a different sector, whilst 31% stated they would accept if this meant achieving a better work/life balance. 28% of Irish respondents claimed they would not accept a lower fixed salary under any circumstances.
In Ireland, 60% of males and 52% of females surveyed would willingly accept a lower fixed salary with a higher benefits/bonus package.