According to the 4th Annual Salary and Job Market Report conducted by recruiting firm 24 Seven Inc., 79 percent of New Yorkers who responded saw higher total compensation increases in 2013 compared with respondents in Los Angeles, Chicago, and other markets.
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Get Your Report Now!The survey. with 4,000 respondents. found it paid to be in charge, as executives saw greater percentage pay increases than nonexecutive staff. New York executives reported total compensation increases of 8.2 percent over last year, and the majority of executives surveyed saw a 20 percent jump in total compensation. Those in nonexecutive roles reported receiving increases in compensation averaging 5.9 percent.
Despite the positive signs in compensation, the majority of respondents say they are unsatisfied with their jobs and are looking to move into new positions in 2013, with 75 percent saying they are planning on making a career move in the next year. Of those looking to move, 35% say they would prefer a new position with the same company they work for now, much more than in Los Angeles, Chicago and other markets.
"New Yorkers are infamously demanding so it is no surprise that they have high expectations for on-the-job happiness," said Celeste Gudas, CEO of 24 Seven Inc. "While salary is still the most important contributor to job satisfaction, New Yorkers value flextime and summer days off more than other cities in the survey. We believe this is a reflection of longer workdays and the need to get away and reset on weekends."