While every individual encounters work-related mistakes, some may have minor repercussions while others can lead to significant career regrets. According to a recent report from Resume Now, 66% of workers across the U.S., U.K., France, and Germany expressed having work-related regrets. The most common career regrets encompass not asking for a pay increase (60%), failing to prioritize work-life balance (59%), staying at a job for too long (58%), and neglecting to negotiate salary for a new job (58). These regrets often stem from inaction, with a higher percentage regretting staying at a job for too long compared to those regretting quitting a job.
The report emphasizes the need for tools to empower workers to avoid these major regrets. For instance, requesting a pay raise can be approached strategically by laying the groundwork several months in advance and setting actionable goals. Moreover, data indicates that one of the most consistent ways to earn more money is to change jobs, presenting an opportunity to secure a new and higher salary. It is noteworthy that 58% of U.S. workers who negotiated their pay upon taking a new job received a higher offer, indicating the potential benefits of negotiation.
Looking at the broader picture, mid-career individuals express the highest levels of regret, with 70% of millennials and 69% of Gen Xers resonating with this sentiment. Contrastingly, the rates of regret decrease later in life, with 52% of Baby Boomers expressing regrets. Furthermore, other research suggests that happiness often hits a low point in individuals' late 40s due to career, family, and financial pressures. However, it rebounds later in life as older individuals gain perspective and cultivate gratitude for their achievements.