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Nearly half feel they must switch companies for pay raise, survey says

April 12, 2016

Almost half of employees believe they could earn more at another company, according to the Global Salary Transparency survey released today by Glassdoor.

The survey found 49% of US employees feel they must switch companies in order to obtain any meaningful change in compensation. Globally, 56% of employees surveyed reported they must switch companies in order to make a meaningful change in their compensation.

Among US employees, millennials ages 25 to 34 (57%) and Generation X’ers ages 35 to 44 (58%) and those ages 45 to 54 (53%) are more likely to believe they need to change companies to make more money compared to those 55 or older (32%).

More employees in France, 64%, feel they must switch jobs to obtain meaningful compensation changes than those in all other countries surveyed except Germany.

Nearly half of employees globally, 47%, said their companies still do not share pay data internally. Furthermore, the majority of employees globally, 69%, wish they had a better understanding about what is actually fair market compensation for their position and skill set at their company and local job market.

“Even in 2016, most employees — especially women — remain in the dark about what fair pay is for their particular role. The majority of employees report their companies do not share pay data internally even as most employees believe salary transparency is good for business and employee satisfaction,” said Dawn Lyon, Glassdoor VP of corporate affairs and chief equal pay advocate. “Employers need to understand that perpetuating salary sharing taboos can ultimately impact retention. More than half of employees around the world feel that in order to get a significant raise they need to jump to a new company. Our data shows by helping employees understand fair pay and providing clear pathways for advancement, employers can increase employee satisfaction, engagement and retention.”

Harris Poll conducted the online survey within Canada, Switzerland, Germany, France, Netherlands, UK and the US on behalf of Glassdoor from Oct. 1 to Oct. 5, 2015. It included 8,254 adults, 2,049 of whom were in the US.