By Move over Michael Scott, Taylor Swift may be the new world’s best boss.
News broke on Thursday that Swift is rewarding workers on her Pro Eras Tour, including truck drivers, caterers, riggers, and dancers, with bonuses as high as $100,000 a person.
Swift, 33, is reportedly giving a total of $55 million in bonuses to workers on her tour, which has become incredibly popular and even broke Ticketmaster’s website several months ago.
A Tour of Extraordinary Success
The tour has sold out shows across the U.S. and in various other countries. CNBC estimates that the tour will earn over $1 billion.
“It’s generally known that she’s generating a huge amount of money and she’s making a lot of money off her tour,” said Maureen Clark, President at Three Sixty HR, Inc., a human resources consulting firm. “I have a feeling those people work really hard. It’s not an eight-hour-a-day job. It’s great that she shares that with them.”
A Global Phenomenon
Swift’s tour is scheduled to be more than 100 shows, and additional concerts were just added in cities like Miami, New Orleans, and Indianapolis. The singer is also embarking on tours in Europe, Mexico, and Australia. With a net worth of $740 million, according to Forbes estimates, Swift ranks as the 34th richest self-made woman in the world.
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Surely most workers who have received or will receive bonuses from Swift will enjoy the cash injection, but are bonuses really what workers want from their employers?
Not surprisingly: yes.
The Importance of Pay in the Workplace
A recent survey conducted by The Washington Post-Ipsos revealed that workers prioritize different aspects of their job. When asked to rank these aspects, the majority of respondents (45%) identified their pay as the most important factor. Following closely behind was the significance of having a good manager, with 14% of workers emphasizing this aspect.
These findings echo those of a Gallup poll conducted in 2022, which also sought to understand what factors were crucial for workers when choosing a job. Approximately 64% of participants indicated that income increases were high on their priority list.
Interestingly, the importance placed on money by workers appears to be increasing over time. In Gallup’s 2015 employee priority tracker, making more money was ranked fourth at 41%. This suggests that workers today value compensation more than ever before.
This growing emphasis on pay could be attributed to the rising cost of living. In recent years, prices for essential items such as food, transportation, and rent have continuously increased, largely due to rising inflation in America. While core inflation has slightly slowed to 4.8% over the past 12 months (compared to 5.3% in June), it still exceeds the Federal Reserve’s target rate of 2%.
The Post-Ipsos survey gathered responses from 1,148 workers aged 18 to 64 in March and April 2023, while the Gallup poll surveyed 13,085 employees in October 2021.
According to Clark, big bonuses for employees usually occur in exceptional circumstances when there is an “incredible windfall,” which seems to be happening with Swift’s tour.
So, does this make Taylor Swift the best boss?
While money certainly plays a significant role for workers, Clark suggests that it might not be the top priority. Being adequately paid is essential, but having a pleasant work environment is often valued more by employees.
Representatives for Swift did not provide a comment in response to inquiries about this story.
Read on: Taylor Swift is projected to earn $332 million this year, potentially making her the highest-paid entertainer.
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