Half of workers would job-hop for a salary boost, survey finds
Half of Australians said they would change jobs if offered a higher salary as cost-of-living pressures continue to bite, a survey has found.
A new survey by Robert Half found that 52 per cent of Australians would be compelled to change jobs for a higher salary, with an average pay increase of 22 per cent necessary to lure workers across to a new company.
“It's clear that money still talks,” Nicole Gorton, director at Robert Half, said.
“At a time when pay is a major consideration to combat the ongoing cost-of-living crisis, many employees prioritise job security as organisations strive to meet efficiency goals, further highlighting the tension between meeting financial desires and building a sustainable career while navigating ongoing job security concerns.”
While inflation has moderated back within the RBA’s 2–3 per cent target bands, households are still being pressed by high living costs.
Data from the Australian Bureau of Statistics (ABS) showed that employed households saw their living costs increase by 4 per cent in the 12 months to the December 2024 quarter. Over that same time period, wages increased by just 3.2 per cent.
Robert Half also found that many workers felt as though they were being underpaid relative to their skill levels.
Less than half (42 per cent) of workers said that their current salary was an accurate reflection of their expertise, experience or level of responsibility.
“The research indicates that many workers feel undervalued, highlighting a gap between employee expectations and current compensation levels,” Gorton said.
“This can be due to stagnant wages despite increased responsibilities or a perception, whether accurate or not, that their compensation lags behind industry standards for similar roles.”
On average, workers believed that a 12 per cent salary increase would more accurately reflect their value. The largest proportion of workers (37 per cent) believed that a salary increase of 10-20 per cent would be required to match their position and ability.
At the same time, many workers prioritised job security over salary, with only 21 per cent willing to prioritise money over a secure job, the survey found. While 40 per cent said pay and security were equally important, 39 per cent said security was more important to them than salary.
“While salary remains a key consideration, job security is also a number one priority for many workers, especially in the current economic climate,” Gorton said.
“Companies that can offer both competitive compensation and a stable work environment will be best positioned to secure and sustain their workforce.”
