Salary differences between men and women are a persistent global issue referred to as the “Gender Gap”. Almost everywhere in the world, the average salary of men is higher than that of women. This is, to a large extent, caused by the fact that women generally work in professions with lower financial compensation. The distribution of women across the individual salary brackets is significantly different than men. While a significantly higher percentage of women perform work falling within the lowest income group, at the same time, compared to women a higher percentage of working men perform work for which they receive the highest salary in the market. This is, to a large extent, related to the fact that only a few women work in top management positions. These are some of the findings of the analysis performed by the international salary portal Paylab.com.
Other options, such as initiating a pay discussion and negotiating a pay rise with their boss, would be chosen by considerably fewer people - only 35% of underpaid employees. A fifth of underpaid employees would choose to communicate their willingness for career advancement with the same employer. About 16% of employees would try to find a side job to increase income. 14% of employees would consider starting their own business.
Interestingly, the survey found that employees who assessed their earnings as adequate have a much greater tendency to stay with their current employer. Compared to people who feel underpaid, they are more likely to choose career progression to a higher position, or further education as part of their income-increasing strategy. Another option preferred by employees with more appropriate remuneration is working more shifts or hours as part of the current job.
These findings are the result of the
international Salary Satisfaction and
Preferences Survey, which was conducted in November and December 2017 on a sample of 34,065 respondents with real salary in 10 European
countries. The survey is part of the Paylab
Compensation Monitor, which regularly monitors remuneration and labour
market trends. Read more about how employees perceive their salary.
Employers are more concerned with employee remuneration strategy
Finding a better-paid job is clearly the most preferred way to increase income in all countries that participated in the survey. Half of employees in Central and Southern Europe, as well as in the Baltics and Finland would choose this strategy. For employers, it is a signal that regular salary reassessment can greatly reduce the chances of employees leaving. Companies that take employee remuneration seriously can monitor remuneration trends through Paylab's current salary reports.
Salary negotiations are challenging for both employees and employers
Approximately a third of employees in Central Europe and the Baltics, and 38% of employees in Finland, would initiate pay negotiations as an acceptable way to achieve a pay rise. Tips on how to approach a pay rise can be found in Paylab blog article. Since pay negotiations are challenging to prepare and argue, employees often use an anonymous online service to compare salaries for a specific position and specific region. Paylab has also prepared a series of videos for employees with guides on how to negotiate salary and working conditions.
About the survey
An international Salary Satisfaction and Preferences Survey was conducted in 10 countries across Europe on a total sample of 34,065 respondents with real salary. It is part of the Paylab Compensation Monitor, which regularly monitors trends in employee preferences and remuneration in Europe. Data collection was conducted in November and December 2017 through localised salary portals: the Czech Republic - Platy.cz (5778 respondents), Slovakia - Platy.sk (6462 respondents), Hungary - Fizetesek.hu (3528 respondents), Slovenia - Placa.si (2629 respondents), Croatia - MojaPlaca.hr (3172 respondents), Serbia - InfoPlate.rs (735 respondents), Estonia - Palgad.ee (1268 respondents), Lithuania - Manoalga.lt (2371 respondents), Latvia - Algas.lv (1433 respondents), Finland - Palkkadata.fi (6689 respondents).
Daniela Beráková, Communication & Content Manager for Paylab.com
Profesia, s.r.o., Pribinova 19, 811 09 Bratislava, Slovakia
Tel.: +421 2 32 20 91 89, Mobile: +421 905 761 264, e-mail: email@example.com