HR News/North AmericaNewsNews Ticker

Half of U.S. Workers Would Accept Pay Cut for Remote Work

According to FlexJobs’ 2024 Work-From-Anywhere Survey, half (50%) of respondents say they’re willing to accept a pay cut to be able to work from anywhere. Specifically, 26% of people would accept a 5% pay cut, and 24% of people say they would accept a salary decrease of either 10% or 15%.  

FlexJobs developed the survey to better understand the high demand for work-from-anywhere roles and wide interest in digital nomadism within the current workforce. The survey was conducted between Feb. 6-19 and polled more than 4,000 U.S. professionals on how working from anywhere impacts their career decisions and perspectives on the job marketplace.  

In addition to most respondents stating that they’re willing to take a pay cut of 5% or more, 20% say they would accept an increase in working hours in exchange for a remote job that allows them to work from anywhere. They are also willing to give up chances for professional development (23%), vacation days (15%), company-sponsored health insurance (13%), and retirement-focused company contributions (10%).  

Among generations, millennials show the highest willingness to exchange key job factors, such as salary, chances for professional development, and increased working hours, for a remote job without location restrictions. Less than one-third (31%) of millennials say they wouldn’t give up anything for a work-from-anywhere job, compared to 41% of Gen X and half of boomers.  

Three-quarters (75%) of respondents say they would definitely use a work-from-anywhere policy if it was provided by their employer. Given the chance to work remotely full-time and without any location requirements, most also say they would consider relocating to a different city (40%) or state (41%). Although 39% say they would not relocate anywhere, 28% of respondents say they would consider relocating to a new country.  

Additionally, 16% said they’d become a digital nomad if they had a work-from-anywhere job. But most interested in working from anywhere today prefer to perform their job from fewer locations––a shift away from digital nomads of the past who traveled frequently and worked from various locations around the world. 

Cost of living (80%) is the leading factor influencing respondents’ decisions to relocate to their dream destination if they were able to work from anywhere. Others include climate (66%), regional culture (53%), high internet speeds (51%), taxation rates (51%), nature (50%), social life (47%), reputation of the people (40%), regional history (25%), and school systems for children (18%).  

Work-from-anywhere openings are coveted and highly competitive, because historically, they’ve accounted for a small segment of the overall remote job marketplace. However, with more employers embracing remote work arrangements over the past few years, there are companies providing a steady flow of work-from-anywhere opportunities. 

“Return-to-office mandates are largely responsible for the growing divide between employers and their workforces,” says Toni Frana, Lead Career Expert at FlexJobs. “But as we’ve seen on FlexJobs, many companies are adopting work-from-anywhere arrangements and creating more opportunities than ever before for workers to find a career that has the location flexibility they want.” 

Recent Articles