Resume Now’s Wage Reality Report Reveals Broad Financial Stress and Insecurity

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Table of contents

Key Findings
Basic Living Expenses Remain a Struggle for Many
Why Workers Are Struggling With Financial Stress
Coping With Financial Stress
Workplace Impacts: Morale, Motivation and Resentment
How Workers Feel About Their Paychecks
What Workers Want From Employers
Methodology
About Resume Now

A recent survey by Resume Now reveals that financial stress has reached a breaking point for American workers, with 73% of employees struggling to afford anything beyond their basic living expenses.

The 2025 Wage Reality Report reveals a growing dissatisfaction with salaries, rising living costs, and the toll these challenges are taking on workplace morale. Based on responses from 1,065 U.S. workers surveyed in December 2024, the report sheds light on the widening gap between wages and the cost of modern living.

So, what are the real impacts of this financial stress on workers' lives, and how are they coping with the challenges of rising costs and stagnant wages?

Key Findings

12% often cannot afford basic living expenses, and 24% struggle to cover essentials.
Only 6% are able to save for the future.
One-third of workers say their salary has not kept up with inflation.
55% think their salary is lower than it should be.
29% have moved to lower-cost areas or housing to navigate financial strain.
3 in 10 have taken on debt to cover living expenses.
Only 4% of workers feel truly valued in their role.

Basic Living Expenses Remain a Struggle for Many

For millions of American workers, managing day-to-day expenses is a constant challenge. Rising costs and stagnant wages leave little room for financial stability or growth. The data paints a stark picture of the struggles workers face:

12% report they often cannot afford basic living expenses.
24% can afford essentials but struggle to do so.
37% can manage basic expenses but with limited room for extras.
21% can comfortably afford basic living essentials and some extras.
6% say they can easily afford basic living expenses and save for the future.

What this means: Financial stress is a growing reality for many, making it important to assess personal budgets and financial health regularly. Workers may benefit from exploring programs offered by employers or community organizations that provide emergency assistance, housing support, or financial planning tools to help manage living expenses more effectively.

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Why Workers Are Struggling With Financial Stress

When it comes to financial stress, the challenges workers face are deeply tied to rising costs and insufficient wages. From housing to everyday essentials, many are finding it harder than ever to keep up:

Rising housing costs (55%)
Increasing prices for everyday essentials (41%)
Salaries failing to keep up with inflation (34%)
The inability to save for emergencies or the future (33%)

What this means: Rising costs and stagnant wages are making it harder to make ends meet. Workers may want to advocate for fair pay adjustments by staying informed about industry salary benchmarks or participating in discussions about cost-of-living raises. Building financial resilience through savings, even in small amounts, can also help mitigate the effects of inflation.

Coping With Financial Stress

Mounting financial pressure forces workers to make tough decisions, often at a personal cost. These sacrifices reveal the challenges many face to stay afloat:

44% sought financial help from friends or family.
38% relied on community or government aid.
35% reduced or eliminated savings.
29% moved to lower-cost areas or housing.
28% took on debt to cover living expenses.

Lower-income workers are more likely to seek outside help (53%) or take on debt (42%).

What this means: Coping with financial pressure often requires creative problem-solving skills. Workers can consider strategies like cutting unnecessary expenses, seeking additional sources of income or accessing available resources such as financial counseling, government aid, or employer assistance programs. Building a strong support network can also ease the burden of financial stress. While rising costs can feel insurmountable, learning how to deal with financial stress puts the power back in workers' hands.

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Workplace Impacts: Morale, Motivation and Resentment

Salary dissatisfaction is eroding workplace dynamics. Fifty-five percent of workers say their salary is lower than it should be, with subsequent results:

22% feel unappreciated, which affects team morale.
21% report tension or competition with colleagues.
Only 4% feel truly valued in their roles.

What this means: Salary dissatisfaction and financial stress can impact morale and workplace dynamics. Open communication with colleagues and managers about workplace culture, pay equity, and recognition can help address underlying tensions. Workers should also focus on fostering a collaborative environment and supporting team members to maintain positive morale.

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How Workers Feel About Their Paychecks

Opinions on paychecks are split. While some feel fairly compensated, most believe their salaries don't reflect their contributions or rising living costs:

55% think their salary is lower than it should be.
23% feel their salary is fair.
22% feel their salary is higher than warranted.

What this means: Many workers feel underpaid, but transparency about compensation practices can help bridge this gap. Engaging in conversations about pay equity and fairness with employers or HR can encourage better understanding and improvements. Workers can also seek clarity on how salaries are determined and what opportunities exist for growth or raises.

What Workers Want From Employers

Workers are asking for meaningful changes—better benefits, transparency in pay, and opportunities for skill development. Some workers are seeking improved benefits from employers while others are looking for new skills to add to their resumes to improve their earning potential:

52% want better benefits like healthcare and retirement matching.
40% demand clear pathways to career growth and salary increases.
34% seek education and certifications to improve earning potential.

What this means: Workers are increasingly prioritizing meaningful benefits, career growth opportunities, and professional development. Employees can advocate for themselves by voicing their needs to employers, such as requesting access to educational resources, certifications, or mentorship programs. Taking initiative to pursue personal growth can also align with broader career aspirations.

Looking for a change of scenery? Our Resume Builder can help you land a new role by creating or updating your resume to meet the standards of the competitive job market.

Methodology

The findings provided were gathered through a survey conducted with 1,065 American workers on December 11, 2024. Participants were queried about their feelings around their salaries and their current financial situation. Participants responded to various question types, including yes/no questions, open-ended questions, scale-based questions gauging agreement levels, and questions that permitted the selection of multiple options from a list of answers.

For press inquiries, contact Joseph Santaella at joseph.santaella@bold.com.

About Resume Now

Resume Now is a powerful resource dedicated to helping job-seekers achieve their potential. Resume-Now's AI resume builder is a cutting-edge tool that makes creating a resume fast, easy, and painless. Resume Now has been dedicated to serving job seekers since 2005. Alongside its powerful AI resume builder and stylish, ready-to-use templates, it also features free advice for job seekers at every career stage, guides for every step of the hiring process, and free resources for writing cover letters. Resume-Now is committed to supporting job seekers and workers alike and has conducted numerous surveys related to the experience, trends, and culture of the workplace. These surveys have been featured in Business Insider, CNBC, Fast Company, Yahoo!, Forbes, and more. Keep up with Resume-Now on LinkedIn, Facebook, X, and Pinterest.

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Keith is a Certified Professional Resume Writer (CPRW) and trusted media source in the career industry with over a decade of experience helping job seekers stand out.