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Did you ever expect to see a day when the majority of Generation Z wouldn’t consider taking on an entry-level job?
With economic opportunities changing and fewer traditional jobs available, entitlement has replaced hard work as the norm in this generation.
As noted by recent studies, a majority of Gen Z simply won’t take up low-paying or conventional roles that involve manual labor, whether it be out of stubbornness due to privilege or simply because they don’t feel like it.
It’s time for us to discuss and take a deep dive into what this means for the future of employment among teenagers from Gen Z.
Do they have valid reasons to side-step low wages and basic duties, or will their attitude cost them dearly when seeking gainful careers in the long run?
Let’s find out!
#1. No Less Than 73k Annually
Many Gen Zers are unwilling to work below the $73,000 mark annually.
In fact, according to a survey of over 1,000 members of this generation, 79% said they would refuse any job offering less than this salary unless there were perks associated with the offer.
The high demands that Gen Zers have are indicative of their ambitious and determined attitude, but it could also be seen as a sign they’re too unyielding in their expectations.
As relatively inexperienced workers, they may not understand how difficult it is to attain senior-level positions with such impressive wages.
#2. 80% Felt Obligated to Go to College
This one gets at the heart of the problem.
Too many people are pushing college on kids that have no business in college.
In fact, 40%regret going to college.
The truth is, college isn’t for everyone.
Maybe they are better off working and then going back to school later.
Maybe they are better off learning a trade or starting a business.
The idea that you must go to college needs to stop.
#3. If Forced To Take A Low Salary, Gen Z Says This Will Happen
When asked if they had to take the average starting salary of $55,911, the students responded as follows:
- 37% would have to work a second job
- 33% would not be able to repay their student loans
- 27% would go into credit card debt
- 19% would have to move back in with their parents
#4. Most Don’t Think They Can Afford To Live
When informing the students taking the survey that the average starting salary is $55,911, over one-third (34%) don’t think they will be able to afford basic expenses on this income.
#5. No Entry-Level Jobs
Of those surveyed, 61% also believe they won’t have to work entry-level jobs.
Instead, employers will immediately see their potential and offer them senior-level jobs.
#6. Gen Z Expects To Make 52% More In Starting Salary
The average starting salary is $55,911, but Gen Z expects to begin their career earning a whopping $84,855.
#7. Business Majors Are Most Out Of Touch With Salary Expectations
Business majors have the most unrealistic expectations regarding starting salary when breaking down the data by major.
They are followed by nursing students, those obtaining a liberal arts degree, and political science majors.
#8. Gen Z Will Compromise On Starting Salary For Other Perks
Asked if offered a lower starting salary with additional workplace perks, Gen Z responded as follows:
- 48% want a good work-life balance
- 43% want great benefits
- 41% want flexible hours
- 40% want the job in a desirable location
#9. Most Think They Don’t Need A Resume
61% are not concerned with creating a resume because their degree will be enough to impress employers.
#10. 97% Will Work For Less Money, But With A Catch
Most students (97%) said they would work for less money, but the lowest would be $72,850.
#11. Their Major Guarantees Them A Job
72% of Gen Z think that majoring in a high-demand field will guarantee them a job right after graduation.
#12. 70% Say They Deserve More
Nearly two-thirds of students say they deserve a higher starting salary because they work harder than their peers.
Additionally, 64% say they deserve more because they are more intelligent than their peers.
#13. Most Recent College Grads Don’t Even Have a Job
Of those that graduated in 2023, 92% have not accepted a job offer.
The ones that did, 27% are not happy with the salary the job pays.
#14. A Majority Believe Social Life is More Important Than Academic Life
To be fair, most college kids would say that social life is more important than their studies, regardless of the generation.
In total, 62% feel this way.
Steps to Take For Financial Security
So with all the bad news, what can Gen Z do to set themselves up for a life of wealth?
It starts with understanding values and spending money on these things.
Sure having the latest tech gadget or shoes is nice, but if they bring you no joy, then why spend the money?
You’d be better off spending the money on a vacation or something that will bring happiness.
So the first, and most important step for this generation is to get over the FOMO that is running rampant and spend wisely.
From there, they need to make saving and investing a priority.
Just doing these two things will help their finances tremendously.
Adulting 101
Growing up is part of life. Sadly, most schools don’t teach personal finance, so adulting when it comes to money can be complicated.
Luckily, here is a guide to adulting so you can more easily figure things out, without making major mistakes.
The Ultimate Guide To Adulting 101
How To Earn A Raise At Work
Do you want to make more money? Of course you do! Sadly, most people wait until their review to ask for a raise and are disappointed when the answer is no.
A better solution is to follow a plan that ensures you get a raise of 5% or more.
61 Fun Money Facts
Did you know there are places you can pay for things using a special local currency? Do you know why some coins have ridges on the sides? Discover over 60 fun money facts that you didn’t know.
61 FUN MONEY FACTS YOU DIDN’T KNOW
Slash Your Monthly Bills
With inflation rising, your monthly bills are likely getting out of control.
Luckily, there are some simple steps you can take. Use this guide to help you save up to $7,000 a year on your monthly bills.
SLASH YOUR MONTHLY BILLS AND SAVE
47 Ways To Get Free Gift Cards
Nowadays, people are looking for every means possible to make extra cash. One unique idea is to get free gift cards. Gift cards are a great way to help pay for the things you need without spending any money.
You can earn free gift cards for completing simple tasks in many ways. This includes getting paid for simple online tasks like playing games, completing surveys, and shopping.
Here is a complete guide on how to get free gift cards so you can spend less money on the things you buy.
47 PROVEN WAYS TO GET FREE GIFT CARDS
The data for this article can be found here.
I have over 15 years experience in the financial services industry and 20 years investing in the stock market. I have both my undergrad and graduate degrees in Finance, and am FINRA Series 65 licensed and have a Certificate in Financial Planning.
Visit my About Me page to learn more about me and why I am your trusted personal finance expert.