Three-quarters of Brits have given up on their dream job by Michael Ossei of uSwitch.com on 20-Jul-2012

As Brits batten down the hatches to ride out the economic storm new research shows that over three quarters (77%) have given up on the prospect of landing their dream job. Despite more than half (51%) saying that the most important thing is for a job to be enjoyable, cash-strapped workers are sacrificing this for higher pay and job security.

• Just 6% of Brits are in their dream job - over three quarters (77%) have given up on the idea.
• Almost three in ten people (28%) have been forced to let the opportunity for a dream job pass – a quarter of these (25%) because of pay; a quarter (25%) because of family reasons and a further 16% because there was no job security.
• Sign of the times: only 5% of people would sacrifice financial security to take up a dream job, but one in five (21%) would be willing to give up a high salary in order to land the job of their dreams.

The current economic uncertainty has forced people to focus on financial and job security instead, resulting in many feeling unable to pursue the career of their dreams.

More than half of Brits (51%) say that the most important thing is for a job to be enjoyable, but the reality is that just 6% of people are in their dream job. Even those who have had the opportunity to take such a role have been forced to turn their back on it – almost three in ten people (28%) have had to let their dream job pass. Of these, a quarter (25%) had to give it up because the salary wasn’t enough, a quarter (25%) because of family reasons, such as having a baby, and a further 16% because their dream job offered little or no job security.

With almost a third (29%) of Brits currently seeking employment and unemployment levels predicted to remain high until at least the end of 2013, just 5% of people would be prepared to sacrifice financial security to take up a dream job. However, that’s not to say they wouldn’t make any sacrifices at all. More than one in five (21%) would be willing to give up a high salary in order to land their dream job. Three in ten (30%) would be willing to sacrifice a bonus and 35% willing to lose out on benefits such as life and health insurance.

Interestingly, just a quarter (24%) would be unwilling to make any sacrifices at all suggesting that, financial and job security aside, people still remain committed to the idea of landing the job of their dreams.

"It’s a sad reflection of the economic climate that very few people now feel able to pursue the job of their dreams," says Michael Ossei, personal finance expert at uSwitch.com. "When weighing up the benefits of doing something you love compared with financial and job security, Brits are taking a very pragmatic approach - we’re ditching our dreams and plumping for security."

"But while financial security and having a secure job are a premium today, this climate will eventually pass so I would urge people to plan ahead. More than one in five would be prepared to ditch a high salary to pursue a dream job – to do this people need to focus on getting their finances into shape so that they are in position to 'go for it' should the opportunity arise. Simple steps such as trying to save, cutting unnecessary costs and reducing household bills by shopping around for the best deals will help your budget today and in the future."

For more information on uSwitch.com, the independent price comparison and switching service, visit: www.uSwitch.com

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