Is It All About Money?

Posted August 8, 2013 & filed under Salary

Many people get bored with their job or feel unappreciated in their position; so they turn to new employers for a new job. However, some try move up in the job they currently have. Everyone is searching for a “career”; they want stability. Of course, we all know, money is one of the key factors people look for in either situation, but is that all? Do people even care about other incentives? Do they care about making more money at another job? Do they care about benefits and the atmosphere? This leaves us with one question to be answered– is it all about the money?

Is money all that matters in a position? How often do employees want raises? Many employers believe that you should not get a raise within your first two years of employment; they believe you “haven’t hit your plateau yet”. However, most employers do give an annual raise. How much the raise is going to be- is a different story. In 2012, the average raise was around 3% (moving up from the measly 2% number in past years). 4.6% was the average raise engineers received last year.

If we backtrack, why do people leave their jobs? Do they really feel underpaid, or are they just bored? Is the workload too much? Are their benefits not enough? Do they even have benefits? Some of the top things people want in their job are:

• recognition
• healthy work environment
• friendly boss
• fringe benefits
• stability
• growth opportunities
• responsibility
• reasonable compensation
• the chance to work with interesting and motivated people

As well, employees do not always go for money. Many employees simply want the recognition and extra perks. Perks like gym memberships, paid time off, and gift certificates are generally what employees seek and what make them happy. It makes them feel as if their management cares and take the time to think about them. Nearly 80% of people that are employed would rather have a job that they love than one that pays extremely well.

To sum up, people look at more than just compensation when finding a job or trying to move up within a company. Compensation is absolutely something to think about, but most people leave their jobs because of their work environment. Make sure you get into a job that you like, has benefits (depending on your situation), and has compensation that you think is fair. Whenever you feel like you need a raise, make sure you address it in a professional manner. Present your boss with your achievements at the company- not just “I need more money”.