Study: Highly Paid Tech Workers Struggle To Balance Personal And Professional Lives

• A new study reveals that a large number of highly-paid tech workers are dissatisfied with the balance between their work lives and personal lives.
• Workers in large cities report a lack of housing options, too much traffic and a shortage of public transportation options.
• Tech companies that make work/life balance a priority could have a leg up in acquiring and maintaining top talent.

A new study by Dice.com of 1,600 technology professionals supports previous evidence that highly-paid young tech workers are not satisfied with their jobs. The study reveals the frustrations that many tech workers have in balancing their personal and professional lives.

Positive Results

More than half (58 percent) of tech workers report being satisfied with the area they live. In addition, 59 percent view the local schools as excellent or good, and only about a third (34 percent) of tech workers claim that local housing prices are too expensive.

Sources Of Dissatisfaction

However, the study also revealed plenty of sources of frustration for the highly-paid tech workforce. Only 41 percent of respondents said that their house is the size they want/need. In addition, only 12 percent of tech workers living in major cities feel that there is even enough housing available in the first place.

Nearly half (48 percent) of tech workers in large cities say they deal with too much traffic and congestion on the daily commute. Alternatively, only 8 percent of workers are satisfied with local mass transit options.

Possibly the most troubling finding is that 45 percent of tech employees report dissatisfaction in the way they are able to balance their work lives and their personal lives. In fact, more than one in four tech workers believe that a healthy work/life balance in the tech world is “a myth.”

Costly Fallout

Forward-thinking Silicon Valley companies like Apple Inc. AAPL, Alphabet Inc GOOGL and Facebook Inc FB have reputations for creating modern, progressive working environments for their employees. However, the new study revealed that 59 percent of tech employees would move to another city for a higher paying job. Another recent study by TINYpulse found that nearly one in four workers would leave their current job if offered only a 10 percent raise elsewhere.

“Tech professionals said loud and clear work/life balance is a top priority, and employers who promote this balance – such as flexible work hours, telecommuting options, childcare options, and commuter/transit alternatives– demonstrate they share the same priorities and are committed to relieving the everyday stresses that so many of us face,” Dice president Bob Melk told Benzinga.

For tech companies, keeping employees satisfied is not only good for morale; it’s good for the bottom line. According to TINYpulse, it can cost up to 20 percent of an employee’s salary for a company to hire and train a replacement.

Disclosure: the author holds no position in the stocks mentioned.