Survey: 73% of Americans do not get holiday bonus
SALT LAKE CITY, Utah (KUTV) - A new survey reveals that 73% of Americans don't get an end-of-year holiday bonus or pay raise.
Of those who do get a bonus, the average amount is $500, according to a survey from TopCashBack.com.
The site surveyed more than 3,000 adults in November about holiday finances and expectations.
“While setting a tight budget always starts with good intentions, an unrealistic one can do more harm than good,” Chelsea Hudson, Personal Finance Expert at TopCashback.com said. “To ensure you get your money’s worth during this wonderful yet costly time of the year, remember to budget any extra cash to cover your monthly expenses before you splurge on parties, travel expenses, gifts, and holiday-themed activities.”
While most Americans wish for a holiday bonus or pay raise, only 12% who expect a bonus or raise actually get one.
Of those who actually receive a bonus, the most common amount to receive before taxes is up to $500, according to the survey.
So how do Americans who get a bonus use the extra cash?
- 33% purchase holiday gifts
- 22% put it toward savings
- 20% pay down debt
- 12% invest the money