Most Americans say work and life balance is more important than a higher salary. How to manage if you need to take a pay cut
The pandemic has upended millions of American lives, and for many has made them reconsider priorities around work.
That's prompted many to quit jobs amid the so-called Great Resignation. In November, a record 4.5 million workers left their jobs, according to data from the Labor Department.
There are also signs that people are open to shifting careers for jobs that better fit their new pandemic normal. About two-thirds of working adults said that work-life balance is more important to them than having a higher salary, according to KeyBank's 2022 financial mobility survey.
The survey also found that many Americans' priorities shifted to include more time with friends and family.
«If you know a bigger paycheck is no longer your priority and spending time with family and friends is, there's probably going to be some financial ramifications,» said Mitch Kime, head of consumer lending and payments at KeyBank. «That's okay.»
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Another survey of workers from Paro, which provides accounting and finance solutions for businesses, focused on those who think for a living – such as programmers, pharmacists and lawyers. The survey found the group also prioritized their work-life balance over making more money.
Some may also consider taking a pay cut to have a better balance between work and life, or to change careers to something more meaningful.
«The pandemic and experiences they have had have shifted their values,» said Anita Samojednik, CEO of Paro. «Right now, the salary is just not enough.»
Of course, taking a
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