The Entitled Generation: How Gen Z is Completely Out of Touch When it Comes to Money and Their Career

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Generation Z, a generation of digital natives who are the first to grow up exposed to Internet and social media technologies, have been praised for their openness to diversity and inclusion, but criticized for their sense of entitlement.

This is especially true when it comes to money management and career development.

Many Gen Zers seem completely out of touch with how much effort it takes to build long-term success both in terms of finances and one’s chosen profession.

This is evident be a recent study that shows what Gen Z thinks is a reasonable starting salary and other career beliefs they have.

Read on to see just how out of touch this generation is.

#1. 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.

#2. 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.

#3. 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.

#4. 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.

#5. 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

#6. 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.

#7. 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.

#8. 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.

#9. 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.

#10. 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.

#11. 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

#12. 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.

#13. 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.

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.

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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.

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A better solution is to follow a plan that ensures you get a raise of 5% or more.

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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.

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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.

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The data for this article can be found here.