35% of Millennials Would Take a Pay Cut for Remote Work

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Editor's Note: This story originally appeared on FlexJobs.com.

Remote work, particularly the opportunity to work from anywhere, remains a highly sought-after working arrangement — and a highly competitive one.

However, work-from-anywhere jobs have historically accounted for a small segment of the remote job marketplace. Luckily, with more employers embracing remote work arrangements, a steady flow of work-from-anywhere opportunities continues to be provided.

To better understand the work-from-anywhere trend and gauge the growing appeal of digital nomadism, FlexJobs conducted a comprehensive survey involving more than 4,000 professionals across the United States from Feb. 6, 2024, to Feb. 19, 2024.

The objective of this study was to investigate how the availability of work-from-anywhere jobs influences career choices and perceptions of the job market.

2024 Work-From-Anywhere Survey Key Takeaways

remote worker virtual meeting
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In a perfect world where all employers provided work-from-anywhere jobs, 75% of professionals would use the policy.

They’d even be willing to take a pay cut (50%), increase their working hours (20%), and give up vacation days (15%).

Of those willing to take a decrease in pay, 26% of people would take a 5% pay cut, and 24% stated they’d take a decrease of 10% or 15%.

The other major takeaway is that a majority of professionals would relocate to a different city (40%) or state (41%) if given the ability to work from anywhere.

Additionally, 16% of professionals would fully embrace digital nomadism, taking the opportunity to work from anywhere in the world.

Work From Anywhere or Pay: Workers Choose Location Independence

relaxing remote worker with laptop
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Professionals have spoken and are willing to take a pay cut to be able to work from wherever they want and gain location independence.

In addition to pay, longer hours, and fewer vacation days, working professionals are willing to give up other benefits to gain location independence. These include:

  • Professional development opportunities (23%)
  • Company-sponsored health insurance (13%)
  • Retirement-focused company contributions (10%)

The survey was further able to break down the data to explore which generation was most likely to be willing to exchange job factors for the ability to work remotely from anywhere.

Coming out on top, millennials showed the most willingness, with only 31% stating they weren’t willing to give up anything to work from anywhere.

Of the other generations, 41% of Gen X and 50% of boomers were unwilling to sacrifice anything for the ability to work where they want.

Work From Anywhere or Stay Put: Career Impacts From Cost of Living

Young woman learning on her laptop
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With 75% of survey respondents saying they’d utilize a work-from-anywhere policy if offered by their employer, only 16% would fully embrace the digital nomad lifestyle, working from multiple locations around the world.

Rather, most professionals would leave their city (40%) or state (41%), with only 28% stating they’d relocate to a different country. And then, even with fully remote work-from-anywhere options, 39% wouldn’t relocate at all.

Below is the full breakdown of professionals and their willingness or desire to change locations:

  • Rarely or Never (40%)
  • Quarterly (26%)
  • Annually (21%)
  • Monthly (9%)
  • Weekly (3%)

Relocation and Remote Work

Happy renter
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While in the past, work-from-anywhere jobs were the ticket to get to travel while working, workers are embracing the option for a number of other reasons that, in many cases, allow them to change locations but then set up a home base.

Most notably, 80% of workers want to work from anywhere so they’re able to relocate due to the cost of living. Other notable reasons cited include:

  • Climate (66%)
  • Region’s or country’s culture (53%)
  • High internet speed (51%)
  • Favorable taxation rates (51%)
  • Nature (50%)
  • Social life, attractions, and entertainment possibilities (47%)
  • Reputation of the people (40%)
  • Region’s or country’s history (25%)
  • Public school systems for children (18%)

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