Immigrants working longer hours for less pay than expected
That's according to people who moved to the U.S. for employment opportunities, and who shared the reality of working in America compared with their home country by participating in cross-border payments leader Transfast's "Working Hard in America" online national survey.
In August, some 500 respondents answered questions from Transfast, a money transfer service used by millions to send money home to more than 120 countries around the globe. The survey found:
• 41.2% found more opportunities for job growth in the U.S. than anticipated
• 38.2% earn less money than expected, while 25.2% earn more
• 77% of participants surprised by job requirements have more skills than needed
• 44.9% expect to retire in the U.S.
• 37% of respondents send money to their home country to support family and friends
"People who come here for work are playing vital economic roles by contributing to the U.S. economy and also adding to the GDP of their home country when they send money back to family and friends," says Samish Kumar, Transfast's CEO. "To Transfast, the survey results show that our mission of providing the best value for your money plays a role in helping our customers succeed, because when you're working longer hours for less than you hoped, every dollar saved matters."
Among respondents who send money back to their home country, online/mobile services was the most popular method (46%), followed by a bank (33%) and agent locations (22%).
"This is in line with trends we see at Transfast.com, where we're experiencing triple-digit growth rates in our online business," says Roshan Polepalli, VP of Ecommerce for Transfast.com.
The survey also touched on participants' plans for retirement. A majority of respondents (44.9%) expect to retire in the U.S. – much greater than the number of participants who intend to return to their home country (18%). Respondents 55 years and older were most likely to say they don't have plans to retire but rather "plan to work until I drop."
The online survey of 510 people was fielded August 14-16, 2015. To qualify, participants needed to have come to America for employment opportunities