New Empower research explores the power of networking to influence your career and money. How do relationships open doors to money making?
One in three (31%) Americans say they owe the job they have now – and the salary they make (29%) – to their personal network. For Millennials, that number rises to 40% in both instances.
Six in 10 Americans believe that the strength of their connections is key to success, from career advancement to pay and promotions. Half of people (50%) say it would be naive not to take advantage of personal connections. Some 75% say it’s important to use your network to help others, and half of Americans say they’ve actively helped others get a job (53% overall, 61% Millennials).
“’The Network Effect’ is real, and your dream salary may be one connection away. Many Americans see the power of personal connections as a key to unlocking moneymaking opportunities,” says Rebecca Rickert, head of communications at Empower. “People view the investment of time or money as a means of paying it forward – an investment that pays back.”
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Securities, when presented, are offered and/or distributed by Empower Financial Services, Inc., Member FINRA/SIPC. EFSI is an affiliate of Empower Retirement, LLC; Empower Funds, Inc.; and registered investment adviser Empower Advisory Group, LLC. This material is for informational purposes only and is not intended to provide investment, legal, or tax recommendations or advice.
Empower’s “The Network Effect” study is based on online survey responses from 2,200 Americans ages 18+ fielded by Morning Consult between August 5-7, 2024. The survey is weighted to be nationally representative of U.S. adults (aged 18+).
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