Last-Minute Shoppers Beware: Paying for Presents Means Powering Through Hours, Days or Even Weeks on the Job
Korn Ferry Hay Group Study Analyzes How Long It Takes to Pay for Top
Holiday Gifts, Depending on Job Title
LOS ANGELES–(BUSINESS WIRE)–As last-minute shoppers rush home with their treasures, many don’t take
into consideration how long it will take them on-the-job to pay for
those thoughtful gifts.
The Hay Group division of Korn
Ferry (NYSE: KFY), has broken down how many days people with
different jobs would need to work to earn some of the hottest holiday
presents.
Using the company’s proprietary PayNet, the world’s largest salary
database, the researchers analyzed the base salaries of several job
titles across several functions. They determined how many days it would
take someone with each of those job titles to purchase the
average-priced:
- Caribbean Vacation
- 3-D Television
- Diamond Earrings
- High-End Blender
- Sports Watch
- Skateboard
- Video Game
Caribbean Vacation
The priciest item on our list, a Caribbean vacation, costs $6,650. A
junior accountant who makes on average $58,000 a year would have to work
nearly a month, (29 days) to pay for it, and a head of key account sales
making $160,000 would have to work 10 days to pay for the trip.
3-D Television
Taking in your favorite 3-D movie on your new TV comes with a price,
with the average 3-D television costing $1,600. If you’re an e-commerce
product manager making $87,000 annually, it will take you almost 5 days
on the job to pay for it, and if you are a head of corporate
communications making $243,000, it will only take a day and a half.
Diamond Earrings
One of the most tried and true luxury holiday presents, a pair of
diamond earrings, retails for $1,200. A senior HR business partner
making $107,000 could make the purchase in about 3 days and an
advertising copywriter making $89,000 annually could make the purchase
in 3.5 days.
High-End Blender
For those more practical gift givers, a high-end blender retails for
about $529. A transportation and distribution manager making $109,000
could be chopping and pureeing in about 1.2 days. A help desk specialist
making $54,000 could purchase that blender in 2.5 days.
Sports Watch
Is getting physically fit on the New Year’s resolution list of your
loved one? A sports watch to help them achieve their goal will set you
back approximately $250. For a call center manager making $92,000 that
means about three-quarters of a day on the job. For a wellness services
consultant making $62,000, that gift to help make someone well would
take just over a day of work to pay for.
Skateboard
Moms and Dads may regret the purchase as they end up waiting in an
emergency room with their adventurous teen with a broken wrist, but a
skateboard seemed like a good idea at the time. An average skateboard
costs $100 and would take an inventory planning manager making $57,000
about a half a day on the job to purchase. A director of product
development making $155,000 could pay for that board in an hour and a
half.
Video Game
Though many parents don’t like their kids to have too much screen time,
a video game, which averages $40, might be a safer choice than the
skateboard. A plumber making $58,000 and a web editor making $59,000
could call that game their own in a little bit less than two hours on
the job.
Editor’s Note: Infographic
available
About Korn Ferry
Korn Ferry is the preeminent global people and organizational advisory
firm. We help leaders, organizations, and societies succeed by releasing
the full power and potential of people. Our nearly 7,000 colleagues
deliver services through our Executive Search, Hay Group and Futurestep
divisions. Visit kornferry.com
for more information.
Contacts
Korn Ferry
Tracy Kurschner, 612-309-3957
Tracy.Kurschner@kornferry.com
