Most workers today are redefining career success, prioritizing financial stability and work-life balance over traditional markers such as promotions, according to a new survey conducted by Michael Harari, Ph.D., an associate professor in the department of management at Florida Atlantic University’s College of Business.
The study, titled “The Many Meanings of Career Success,” challenges longstanding beliefs that job titles and pay raises are the primary ways people measure achievement in their professional lives. Instead, participants ranked financial security as the top factor for career satisfaction, followed closely by work-life balance.
“We wanted to hear directly from people about how they define success in their careers,” said Harari. “We found that people really want work-life balance, more so than the typical manager might assume.”
The survey was developed with FAU High School student Luisa Lucigniani and included 54 questions on various aspects of career success. Topics ranged from promotions and workplace challenges to having time for nonwork interests. Through statistical analysis, researchers identified eight distinct categories defining career success: financial security, work-life balance, intrinsic interest in work, growth and innovation opportunities, social contribution, financial progression or wealth accumulation, positive workplace relationships, and entrepreneurship.
Achieving financial progress or wealth ranked fifth among these categories for survey participants.
Harari suggested these findings could influence how companies attract and retain talent moving forward. “It seems there is an opportunity to replace ‘career ladders’ with ‘career bridges.’ Longer tenure can be recognized in ways other than promotions,” he said. “The career development opportunities that employers offer need to speak to what people want. That might entail flexible work arrangements or even longer employment contracts for stability. Employers can no longer assume that everyone is motivated by the promise of a promotion.”
