New research from global talent solutions business, Robert Walters, reveals that a professional’s socio-economic status/situation has the biggest impact on their work/life than any other diversity characteristic – impacting their tenure, salary growth, progression and work-related wellbeing.
It revealed that a third of white-collar professionals who derive from a working class background have stated that their employer fails to meet their expectations while just 35% of professionals from a working class background feel that their pay is an accurate reflection of the work that they do – vs. 60% of upper middle class professionals.
Working class professionals are over twice as likely to be living pay cheque to pay cheque with no disposable income.
Upper middle class professionals are not only the most likely to be satisfied with their pay, but they are also the most likely to negotiate for a higher salary and find success in their negotiations.
The leading reason why working class professionals have not negotiated for better pay is due to lack of confidence. Thirty percent of working class professionals stated that they have ‘never’ negotiated for a pay increase because they ‘didn’t think their employer would offer them a pay rise’.
Research findings revealed that those from higher social class backgrounds are more likely to have the knowledge and resources needed to progress in their career and the least likely to have no idea how to get a promotion at all.