Infographic: Would you trade your PTO for a higher salary?
Nearly half (49%) of American workers said they would accept a job with no vacation time if it meant that they were paid more, according to Allianz Global Assistance's Vacation Confidence Index. The most likely people to want this deal were millennials (63%, vs. 47% of Gen X'ers and 32% of Baby Boomers) and men (57%, vs. 41% of women), the survey found.
To give up paid vacation time, the average American employee said they would require a 48% raise in salary, according to the survey. However, one in five said they were willing to give up their PTO for an increase of 24% or less. SEE: 20 vacation reads that take a fictional look at real technology (free PDF) (TechRepublic)
The Index also examined how employees feel about unlimited PTO policies, an increasingly popular workplace trend. One in three workers (34%) said they would give up a portion of their paycheck for unlimited vacation days, with millennials (41%) the most likely to do so. More than one in 10 American workers (12%) said they already have unlimited vacation time, the survey found.
"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," Daniel Durazo, director of marketing and communications at Allianz Global Assistance USA, said in a press release. "Meanwhile half of Americans say they wouldn't accept a job with zero paid time off regardless of the salary."
Here are the complete findings in an infographic: