Achieving the coveted work/life balance is no easy feat. Even if you are single, there is a constant pull between devoting time to family, friends, and passions and working hard to make advances in your chosen field of work. When it comes time to choose between the quality of your work life and the quality of your home life, what would it take to make you give one up for the other? This is exactly what financial services company Comet sought to find out. With a wealth of experience working with millennials on their finances, Comet surveyed 364 single employed millennials without children to learn what they would sacrifice for their careers, and the results might shock you.
According to the survey, more than two in five millennials would end a relationship if it meant getting a significant or life-changing promotion at work. Additionally, they would delay major life events like being in a relationship, getting married, and having children in order to get a big promotion. However, when it comes to long-term relationships, young people aren't so quick to jump ship for a career boost. 86% of participants would move if their significant other was offered a better job in another city, 79% would move if the job was in another state, and 59% would move if it was in another country.
To put an exact figure on what millennials would sacrifice for their career, the survey found that it would take an average of $36,000 to delay having a relationship, $64,000 to put off getting married, $67,000 to wait on kids, and $37,000 to call it quits on a relationship altogether.
Additionally, researchers found that 40% of millennials say that they are single because they are focusing on their career. Comet suggests that this could be related to the fact that more millennials have side hustles and long hours don't exactly leave much room for romance.
The company also took into account gender when conducting this study, finding that there are significant variations in responses from those who identified as men and those who identified as women. For example, it would take an average raise of $95,000 for women to delay having children, but only $45,000 for men. Additionally, it would take $46,000 for men to end a relationship, while women would break things off for $27,000. All in all, the study proved that men were willing to make most love life sacrifices for about half the money women needed to make the same choices.
Finally, when it comes to marriage, it's no secret that the younger generation has historically waited longer for marriage. According to this study, people in their late 20s plan on settling down at 33 while those aged 35 to 36 plan on waiting until their early 40s.
While this data may read as slightly depressing to the hopeless romantic, it simply reflects the desires of a generation with great ambition and perhaps a bit of motivation from student debt, which Comet indicates is greater for millennials than any other previous generation. There are many factors that go into finding a perfect work/life balance, and nobody said finding that sweet spot between professional success and fulfillment in other areas of life would be easy.