The majority of U.S. workers don't believe they need to earn a six-figure salary to be successful, according to a new study, conducted by Harris Interactive and released by CareerBuilder.
The definition of success, however, varies by profession. Sales workers are more likely to associate a fat wallet with success, with 38% reporting that they want to earn $100,000 or more.
Workers in the retail and hospitality sectors were among those least likely to associate pay with success. Thirty-six percent of workers in retail reported that they would feel successful earning under $50,000, while 33% of those in hospitality said so.
The study of nearly 6,000 U.S. workers shows that 28% of U.S. workers say they would feel successful earning between $50,000 and $70,000 while 23% reported they would feel successful earning less than $50,000. One in 10 said they need to pull in $150,000 or more.
The study also showed that almost half of U.S. workers say they have not had a merit increase since 2010. Twenty-five percent have not had a merit increase since before 2008.
Esprit Chairman Resigns (WSJ)
Esprit's Chairman Hans-Joachim Körber resigned a day after the fashion retailer's chief executive announced he would step down. The resignations come less than a year after Esprit embarked on a plan to revitalize its brand.
Saks' New Store (Chain Store Age)
Saks Fifth Avenue Off 5th says it plans to open a 28,000-square-foot store in a new shopping center 55 miles from Boston.
Sears Considers Sale (Bloomberg)
Sears said it is open to selling assets amid a push to turn itself around. The company posted a first quarter profit last month after spinning off some stores and selling certain locations, after a loss last year totaling over $3 billion.
Newspapers Ax Jobs (Adweek)
Advance, the publisher of the New Orleans Times-Picayune, announced that 200 employees will lose their jobs at the paper. Another 400 employees will be laid off at the Birmingham News, the Mobile Press-Register and the Huntsville Times.
Martin Sorrell's Pay Rejected (FINS)
Nearly 60% of WPP shareholders voted against the advertising company's 2011 executive compensation.
Starcom USA's New CEO (Ad Age)
Starcom MediaVest Group has appointed its long time content-creation guru, Brian Terkelsen, as its new chief executive in the U.S., replacing Bill Tucker, who is moving into the role of president of global client operations.
Macy's Agency Review (Ad Age)
Macy's is conducting a review of its media account, currently handled by MEC. The department store chain spends almost $1.5 billion on U.S. advertising annually.
Buzz Around the Office
Bacon Sundaes (Fox)
Burger King is betting on pork sundaes to lure summer customers: vanilla soft serve with fudge, caramel, bacon crumbles and a piece of bacon.
List of the Day: Being an Introvert
You don't need to come out of your shell to succeed in your career.
1. Find jobs that your specific skills are a match for.
2. Do some networking, but don't feel pressured to go to every event.
3. Don't shy away from offering up your talents.
(Source: The Daily Muse)