Would you give up your vacation time for a higher salary? All of your vacation time?
Data from Allianz Global Assistance‘s 2019 Vacation Confidence Index (the source of this story, too) shows that just about half (49%) of all working Americans would accept a job with no vacation time if it paid them more money. When asked to specify how much additional money such a move would take (that’s important, after all), that group indicated, on average, that a 48% raise would be required. Meanwhile, one in five of them were willing to give up all their paid time off for an increase of 24% or less.
Breaking down the data further, Allianz found that Americans in different age brackets responded differently. Specifically:
- Millennials: 63% would sacrifice their paid time off
- Gen X’ers: 47% would sacrifice their paid time off
- Baby Boomers: 32% would sacrifice their paid time off
Additionally, Allianz noted that 57% percent of men would sacrifice their vacation time for higher salaries. Meanwhile, just 41% of women would do the same. Here’s more data in an infographic:
“We asked Americans to literally put a price tag on their vacation days, and one-third of U.S. workers said they would be willing to take a pay cut in exchange for unlimited paid time off,” said Daniel Durazo, director of marketing and communications at Allianz Global Assistance USA. “Meanwhile half of Americans say they wouldn’t accept a job with zero paid time off regardless of the salary. For those who value their vacation days, travel insurance offers peace of mind by protecting their trip investment from any covered travel disruptions.”
Disclaimer: Johnny Jet works as an ambassador for Allianz Global Assistance (AGA Service Company) and receives financial compensation.
For more information about Allianz Global, visit AllianzTravelInsurance.com.