Most Europeans are not ready for a pay cut for remote work - ECB
Kyiv • UNN
Most employees in Europe are not willing to accept a significant pay cut for the opportunity to work a few days a week from home. Only 13% would agree to a 1-5% reduction in income, and 8% to a 6-10% reduction.
Most employees in Europe are not willing to accept a significant pay cut for the opportunity to work a few days a week from home. The average income reduction respondents are willing to take to work two to three days remotely is 2.6%, according to an ECB document published on Monday, Bloomberg reports, writes UNN.
Details
As a monthly survey shows, about 70% of respondents would not agree to a pay cut to work from home. At the same time, about 13% would agree to an income reduction of 1-5%, and 8% - by 6-10%. Despite companies' efforts to bring employees back to offices five days a week, office attendance remains below pre-coronavirus pandemic levels.
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According to Eurostat, the share of employees aged 20-64 who worked from home at least occasionally was 22.4% in 2024 - almost twice as much as in 2019.
We find a large difference in willingness to accept a wage cut depending on different work-from-home models
Those who currently work from home "are more likely to agree to a higher salary to maintain this work schedule." "In contrast, those who currently work from home one day a week would only agree to a 1.6% pay cut."
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