Over half, or 65%, of employees in Singapore believe that they need to sacrifice personal time and work-life balance to achieve their financial and career goals, and over half of those interviewed said they intend to do so, according to a survey from Indeed Singapore.

According to Indeed’s survey, there is an increasing difference in views between generations (Millennials and Generation Z) and (Generation X and Boomers), with the first group less inclined to follow the previous generation in sacrificing personal projects to have better roles and salaries.

Millennials and Generation Z employees agree with previous generations that they need to work hard to progress but are less willing to do it. While almost half (46%) of those aged 16 to 24 sacrifice time for better pay, almost six in ten (59%) of the 45 to 54 years old do so.   

Indeed’s data also showed that 12.5% of those interviewed think it's possible to achieve their financial goals without sacrificing their personal life.

Meanwhile 35% of young workers (16-24) surveyed are looking to move to a job that will give them flexibility while only 17% of those between 45 and 54 years old are doing the same.

The report also shows that 74% of workers think Singapore is one of the most competitive job markets globally.

"One explanation for the increasing gap between generations we see in this research is that younger workers are less confident that hard work will bring the benefits previous generations had," said Nishita Lalvani, Senior Manager, Marketing at Indeed Southeast Asia and India. "For example, a third of those under 24 are unsure that they will achieve their financial goals, irrespectively of how much they work. This number is much higher than we see among more mature workers, possibly because older generations have already achieved their goals or have much more clarity if they will make it. This uncertainty, allied to a change in values, makes many young workers question whether it is worth sacrificing time for career and financial gains."   

Despite the uncertainty, most workers are optimistic about their career and financial prospects, with 43% saying their financial plans are going in the right direction and 48% expecting to do well professionally. 

Furthermore, approximately 11% of job seekers in Singapore never work overtime. Younger workers under 34 are the ones doing extra hours most often. Approximately 50% of the workers in this age bracket work additional hours at least 50% of the time. 

More than 70% of respondents say they are happy with their level of success in their career.

Older respondents above 55 were the most satisfied, with more than 80% stating they are satisfied with their careers.