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TD Magazine Article

Money or Peace of Mind?

In the battle of work from home versus the office, pay is a major influence.

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Mon Jul 31 2023

Money or Peace of Mind?
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In the battle of work from home versus the office, pay is a major influence.

Americans don't want to give up the freedom of working from home anytime soon. More than 500 employed US workers detailed in a 2023 RemoteBridge survey what they would do to avoid returning to the office. A few of the top answers were perhaps given with tongues firmly planted in cheeks (43 percent said they would eat broccoli every day, and 20 percent said they would use a puppet to communicate during all video conference calls). Still, 19 percent of respondents said they would be willing to take a 10 percent pay cut to continue working remotely.

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For context, ZipRecruiter reports that the average annual pay for remote workers in the US is $57,370, with most salaries falling between $25,000 and $67,500.

Of the 4,000 job seekers who responded to FlexJobs's 2022 Career Pulse Survey, an overwhelming 87 percent said having a remote or hybrid job has improved their work-life balance. Seventy-seven percent of those surveyed said they think having a remote or hybrid job has helped or would help manage their mental health issues. Further, 63 percent of the FlexJobs survey respondents said they would pick the better work-life balance offered by a remote position over a higher salary. In fact, only 31 percent said they would choose better pay in place of an improved work-life balance.

Pay considerations aren't just about salary—savings are a major factor in choosing to work from home. Twenty-nine percent of respondents said they save at least $2,600 annually by working from home, reports FlexJobs; 45 percent valued their savings at approximately $5,000; and one in five estimated their savings surpassing $10,000 per year.

Americans have become very attached to their own space and the flexibility they get from home. They're willing to sacrifice pay or, as a quarter of the people RemoteBridge surveyed, are even willing to watch an episode of Keeping Up With the Kardashians every day to stay out of the office.

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August 2023 - TD Magazine

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