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The Cost of Friendship: Brits Spend £500/year on Work Friends Alone

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Brits are willing to spend £498 per year on the social aspects of having a job, according to a new survey of 2,000 people by giffgaff gameplan. UK employees work five days each year just to cover the cost of their work-based social life, according to the average national salary of £28,677.

The full break-down of costs is:

  • £65 on retirement gifts
  • £65 on meals with colleagues
  • £64 on work socials
  • £60 on birthday presents
  • £53 on leaving presents
  • £51 on engagement presents for colleagues
  • £50 on new baby presents for colleagues
  • £45 on Secret Santa
  • £45 on promotion presents

Millennials willing to spend more on their work social life

According to the survey, millennials (defined as people under the age of 35) are willing to spend the most money on work-related social events, including:

  • £95 per year on meals with colleagues, compared to a national average of £65
  • £107 on meals with colleagues, compared to a national average of £64

“We weren’t totally surprised that millennials are the most willing to spend on the social costs of work,” said Steve James, Proposition and Marketing Director at giffgaff gameplan.

“I’d say it’s part of a general shift in work attitudes by millennials. They’re less likely to keep their personal and professional lives separate. Finding meaning at work, and a sense of identity is as or more important than the things people traditionally look for in a job, such as benefits and salary.”

You can read a more detailed breakdown of the survey findings here.

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