With unemployment at its highest rate since 1996, a new survey of active job seekers, commissioned by online career management website Workthing , shows how the climate is forcing job seekers to make both financial and lifestyle compromises in order to clinch that new job or return to the workforce. Almost half of respondents (47%) said they would be happy to accept a 10% pay cut to find a job, the equivalent of 2,299[1] for the average UK employee. One in five respondents would accept a 20% pay cut; one in ten would accept an enormous 30 % cut and just one in five respondents would not consider taking any salary reduction.
The financial element of finding a job is just one aspect of the cost to job seekers in the current market; candidates are also willing to make lifestyle compromises with almost half (45%) of respondents stating that they were willing to spend an additional hour each day commuting to a new job, this equates to up to an additional 210 hours spent travelling per year.
Pushed for time
Having time to find a job is the number one thing people worry about when looking for a new role (41%) and the survey shows it is a time consuming activity. The majority of respondents spent up to 5 hours researching and preparing for a single interview.
A daunting prospect
One third of respondents felt concerned about ënot knowing where to startí, a common problem for those that have been made redundant after being in a job for a long time.
Paul Halliwell, Managing Director of Workthing said: ìA drop in pay is something we want to help jobseekers avoid. Despite the economic climate, recruiters still want the most capable people for the job. Our career management service gives job seekers the tools they need to be the best candidate they can be – from interview tips and a CV builder, through to advice on how to manage their online profile. We believe being fully prepared and presenting yourself in the best light will help prevent having to make compromises on pay and lifestyle.î
[1] Office of National Statistics, based on 10% of the average salary of 22,992 pa.
Jobseekers forced to compromise at a cost of over 2,000
Competitive job market pushes job seekers to accept pay cuts in order to find a job
