The oldest Gen Zers have had money on the brain since they first entered the workplace –and many have been dissatisfied with their pay packets. Data shows that as Gen Z enter and rise through the workforce, they’re highly pay motivated – and perhaps more than any other generation right now.
The laser-focus on pay is not wholly new – 2016 data from jobs site Monster showed 70% of American Gen Zers named salary as their top work motivator, along with health insurance – but several years on, experts say the economic squeeze has made these young workers even more wage-conscious. In the past year, surveys show their salary expectations have skyrocketed: many are targeting six-figure salaries early in their careers.
This is in no small part due to the fact that Gen Z have found themselves in a unique position among generations. They’ve grown up watching their parents, largely Gen Xers, struggle with money amid economic downturns; now, they’ve graduated into their own economic turbulence, and are worried about securing their futures. As a result, they’re demanding more remuneration from their employers than ever, and at earlier stages in their career – and experts say many young workers are willing to walk for better-paying opportunities.