Advancement and professional development are the name of the game when it comes to career progression. Few of us feel satisfied if we stay in the same position at the same company for too many years. We can get to feel like we’ve been passed over, or that we’re underachieving. However, this kind of creeping uncertainty can’t compete with the lure of more money: most people would rather get more money than a promotion, according to Comparably’s data. After all, a new title can’t buy you a new house. We asked employees, “Is a raise more important to you than a title promotion?”
Responses from male and females employees fall directly in line here, with nearly 3/4 of respondents saying they would prefer a raise to a title promotion that doesn’t involve a raise. This may seem short-sighted considering that most promotions will eventually lead to opportunities for more money, but for many Americans the rent is always do and more money means less immediate problems.
Responses did not vary much between different ethnicities. Caucasians and Hispanic/Latino respondents were slightly more inclined to choose a raise over a promotion than respondents of African-American or Asian/Pacific Islander ethnicity.
The choice of a raise over a promotion does not vary much at all with age of respondents. This probably says more about the state of the American economy and capitalism in general than it does about the nature of advancing age.
Workers in tech hub San Francisco valued promotions a bit more than respondents from other cities, which says something about the nature and value of job titles in the tech sector. Seattle, also a tech hub, was also less positive about the value of a raise vs. a promotion. Most cities clustered around the same three-quarters average as we saw above with all employees.
Only 66% of employees from the Legal department said they would prefer a raise to a promotion, a relatively low number for this question. All other departments voted for a raise over a promotion to the tune of 70% or more, with the Communications topping out at nearly four-fifths choosing a raise.
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