Last-Minute Shoppers Beware: Paying for Presents Means Powering Through Hours, Days or Even Weeks on the Job
Los Angeles. December 21, 2016
Editor’s Note: Infographic available
Korn Ferry Hay Group Study Analyzes How Long It Takes to Pay for Top Holiday Gifts, Depending on Job Title
LOS ANGELES, Dec. 21, 2016 – 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
- Video Game
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.
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.
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.
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.
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.
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.
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.
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.