CNBCISurveyMonkey: Fewer Raises, Less Career Advancement for Women at Work This Year
CNBC and SurveyMonkey’s “Women at Work” survey, timed to Women’s Heritage Month, reveals the impact of work-life balance, work schedule flexibility, salary increases, promotional opportunities and more among working women in the U.S. over the past 12 months
ENGLEWOOD CLIFFS, NJ & SAN MATEO, CA – March 12, 2024 – CNBC, First in Business Worldwide, and SurveyMonkey today announced the results of their joint CNBC|SurveyMonkey “Women at Work” survey in honor of Women’s Heritage Month.
The annual survey, which polled over 9,000 women in the U.S., finds that fewer women secured pay raises over the last year compared to the previous 12 months. Just 39% of women surveyed say their salary is higher now than it was a year ago, compared to 44% who said so in the 2023 survey. Also, 17% of women say their salary is lower than it was a year ago, up from 15% of respondents who reported a pay decrease last year.
Women are facing setbacks not just in pay, but also with promotions. 18% of women, the same percentage as last year, said their career has experienced a setback, while 20% said their career has advanced (on par with 21% of them who said the same a year ago). That’s not because of a lack of ambition with nearly every woman who responded to the survey saying she was either very ambitious (48%) or somewhat ambitious (40%).
The survey also finds fewer working women quit their jobs in the last twelve months compared to the prior two years. 9% of women say they quit their job in the past year, down from 11% in 2023 and 2022. Another 22% have considered quitting their job within the past 12 months, citing stress and burnout as a key reason for considering quitting.
Despite these setbacks, there are small signs of improvement on the job. 24% of working women saying their work-life balance has improved over the past year, compared to 20% who say it has worsened. A quarter of women say their biggest source of work-related stress is being overwhelmed with work, which is down 3 points from a year ago, and 45% of women say they “rarely” or “never” feel burnt out at work, that is up 4 points from a year ago.
“While we do see a decline in women leaving their jobs year-over-year, burnout and a need for flexibility remain concerns,” said Lara Belonogoff, senior director of brand management and research at SurveyMonkey. “The findings also suggest sluggish progress in salary increases for women, which underscores the need for comprehensive strategies to address gender pay disparities.”
Additional key findings from the CNBC|SurveyMonkey “Women at Work” survey include:
Reasons why working women have considered quitting their jobs:
Women jobseekers are finding fewer remote or hybrid job opportunities:
CNBC Senior Media and Tech Correspondent Julia Boorstin will reveal the results of the “Women at Work” survey today, Tuesday, March 12th throughout CNBC’s Business Day programming and online at cnbc.com/closing-the-gap/.
Methodology:
The CNBC|SurveyMonkey “Women at Work” online poll was conducted February 23 to March 4, 2024 among a national sample of 19,743 adults, including 9,786 women. Respondents for this survey were selected from the more than 2 million people who take surveys on the SurveyMonkeyplatform each day. The modeled error estimate for this survey is plus or minus 1 percentage point. Data have been weighted for age, race, sex, education, and geography using the Census Bureau’s American Community Survey to reflect the demographic composition of the United States age 18 and over.
Complete results of the survey can be found here: https://www.surveymonkey.com/curiosity/cnbc-women-at-work-2024/.
Sourcing: All references, in verbal and written form, should be sourced to “December 2023 CNBC|SurveyMonkey Workforce Survey”
About CNBC
CNBC is the recognized world leader in business news and provides real-time financial market coverage and business content consumed by more than 355 million people per month across all platforms. The network’s 14 live hours a day of business programming in North America (weekdays from 5:00 a.m. - 7:00 p.m. ET) is produced at CNBC’s global headquarters in Englewood Cliffs, N.J., and includes reports from CNBC News bureaus worldwide. CNBC at night features a mix of new reality programming, CNBC’s highly successful series produced exclusively for CNBC and a number of distinctive in-house documentaries.
CNBC also offers content through its vast portfolio of digital products such as: CNBC.com, which provides real-time financial market news and information to CNBC’s investor audience; CNBC Make It, a digital destination focused on making you smarter about how you earn, save and spend your money; CNBC PRO, a premium service that provides in-depth access to Wall Street; a suite of CNBC mobile apps for iOS and Android devices; Amazon Alexa, Google Assistant and Apple Siri voice interfaces; and streaming services including Apple TV, Roku, Amazon Fire TV, Android TV and Samsung Smart TVs. To learn more, visit https://www.cnbc.com/digital-products/.
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About SurveyMonkey
SurveyMonkey is a global leader in online surveys and forms that empowers people with the insights they need to make decisions with speed and confidence. Our fast, intuitive feedback management platform connects millions of users worldwide with real-time AI-powered insights that drive meaningful decisions. We provide answers to more than 20 million questions every day so that people and organizations can attract new audiences, delight customers, create advocates, and extend their competitive advantage in the marketplace. Our vision is to raise the bar for human experiences by amplifying individual voices. Learn more at surveymonkey.com.
For more information contact:
CNBC
Jennifer Dauble
201-735-4721
CNBC
Stephanie Hirlemann
201-397-2838
SurveyMonkey