The study, which surveyed 1,200 working professionals, revealed that 63.2% struggled to make ends meet, even though 63% also said they worked more hours than they were contracted to.
In total 83.8% said they believed they are underpaid.
According to CV-Library, 30.3% of those asked said they work between one and three extra hours per week, which amounts to 96 hours per year.
When contrasted with the average industry salary of £27,334 per annum (£13.14 an hour), this means that hospitality professionals are missing out on £1,261.44 of unpaid overtime.
“The hospitality industry is suffering a productivity crisis,” says Lee Biggins, founder and CEO of CV-Library.
“It’s highly demotivating to feel like you’re putting in extra hours, without reaping the rewards.
“We all have stressful days which cause us to work longer than we’re contracted to, and this is especially true of the hospitality industry where employees are often required to work anti-social hours.”
Of those surveyed, 72.7% say they go into their overdraft before the end of the month, and 33.3% said they regularly struggled to pay off their credit card bills.
“If you’re continuing to go the extra mile without your efforts being recognised then something’s gone wrong, and it’s unfair for managers to expect you to give up your valuable time without financial recognition,” adds Biggins.
