March 19, 2017 | 11:00 | Dubai
In its latest study, Emolument.com, a ‘salary benchmarking site’, asked 1,050 professionals if they were proud of their jobs. Results show most are, except for business analysts. We also found a strong correlation between employees’ pay and the pride they take in their job, with low paid employees also feeling least proud.
- Low salary, low self-esteem : Only 52% of those earning less than £20,000 report being proud of their job. That is the lowest percentage in our survey.
- Money can buy pride… 76% of employees earning from £80,000 to £100,000 a year are proud of their job, marking them out by far as the proudest professionals.
- … up to a certain point. Only 57% of the highest earners (those earning more than £100,000 a year) are proud of their job. ‘Fat cat’ shaming compounded with ever-increasing public disregard for bankers could explain why such high flyers feel ambiguous about their jobs.
- Executive managers feel they have made it : 81% of executive managers are proud of their jobs. Being part of the executive management team of a company often is the crowning glory of a corporate career. Leadership positions are likely to exacerbate pride by bearing on the importance of the role and its impact on others.
- Research & Development – the perfect job? In addition to being among the least bored employees, R&D professionals are also very proud of their job, with 80% of them saying so. This leads to the conclusion that R&D must indeed be a highly gratifying activity.
- Business development is tough : Only 53% of business development professionals are proud of their jobs. Drained by constantly trying to get a foot in the door and exposed to daily rejection, business developers must have a tough skin not to let the job affect their self-esteem.
- Banking’s black sheep: Middle & back office professionals, despite their key role across the financial services industry, are often treated with rough disdain by their front office colleagues, leading to only 50% of them saying they are proud of their job.
- Deluded data analysts : While perceived as a ‘hot job’ as business claim to be more and more ‘data focused’ or ‘data driven’, data and business analysts seem frustrated which could be due to their reports and advice being overlooked or misunderstood or ignored: only 50% of data analysts and 45% of business analysts are proud of their job.
Alice Leguay, Co-Founder & COO at Emolument.com said: “Pointed out as self-serving and damaging to society, banking has taken a battering over the last few years, which cannot be ignored by bankers despite the substantial pay checks it still yields. However, clear trends are emerging, showing that fewer graduates aspire to work for top players in the industry, preferring to migrate to less-regulated areas of finance such as private equity and hedge fund activities. Self-conscious about the negative press around their choice of careers, bankers often point out that they are in it ‘until they can work in a job they feel really passionate about’. Pride in being a banker has dwindled and is unlikely to recover any time soon.”