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Money Gen Z Workforce Statistics
Those in the Gen Z age group (born between 1997 and 2012) have started to enter the workforce over the last few years, with Gen Z expected to make up 30% of the workforce by 2030. [1] NaceWeb, “Generation Z in the Workplace” https://www.naceweb.org/talent-acquisition/student-attitudes/generation-z-in-the-workplace
A survey on behalf of Self Financial sought to understand how Gen Z are adapting to the world of work, their view on jobs, and how other generations feel about Gen Z workers.
Key statistics
- Gen Z is projected to make up 30% of the workforce by 2030, amounting to nearly 50 million jobs.
- Workers in the Gen Z age range earn an average of $2,991 per month (or $35,892 per year), and 9.4% say their monthly earnings are not enough to cover their cost of living.
- Gen Z workers' average salary expectation when looking for a new job is $70,790, with the highest proportion (28.8%) looking for a salary between $60k and $80k.
- 70% of Gen Z workers say they feel happy at work, while 42.2% feel inspired, and 21.5% feel stressed.
- The top motivation for Gen Z at work is climbing the career ladder with 22.9% prioritizing this, while other generations focus more on feeling passion for their work (31.1%).
- 69.8% of Gen Z say they feel guilty if they have to call in sick for work, a higher proportion compared to workers in other age groups (55.3%).
- People in other generations have a mostly positive view of Gen Z workers, with 75.5% saying they are friendly, 63.6% saying they are confident, and 40.1% saying they are hardworking.
- Two-thirds (64.6%) of respondents from all age groups said their Gen Z coworkers are often late to work.
- 69.6% of workers think negative stereotypes about Gen Z in the workplace are exaggerated.
Gen Z in work statistics
The majority (92.5%) of Gen Z adults are employed full-time
Of those surveyed, 92.5% of Gen Z over the age of 18 are currently in full-time employment, while 5% are employed part-time and 1.4% are self-employed. Just 1.2% of Gen Z survey respondents said they are unemployed.
Gen Zers are expected to overtake Baby Boomers in the workforce
Trends from 2023 expect Gen Z workers to overtake Baby Boomers in 2024, with the number of Gen Z workers at 17.1 million at the end of 2023, compared to 17.3 million Baby Boomers. Millennials currently make up the highest proportion of the workforce, with 49.5 million workers, with Gen X in second (42.8 million workers). [2] Glassdoor, “Workplace Trends 2024” https://www.glassdoor.com/blog/workplace-trends-2024/ [3] Axios, “Gen Z Will Overtake Boomers in Workforce in 2024” https://www.axios.com/2023/11/22/gen-z-boomers-work-census-data
Gen Z workers earn $2,991 per month on average
When asked how much they earn per month, more than half of Gen Z respondents (58%) said between $2,000 and $5,000, with the most common earnings being $4,000 - $5,000. The average amount across all respondents in this age range was $2,991 per month, equating to $35,892 annually.
| Gen Z monthly earnings | Percentage of respondents |
|---|---|
| $0/not employed | 0.7% |
| $1-$500 | 5.9% |
| $501-$1,000 | 9.0% |
| $1,001-$2,000 | 15.8% |
| $2,001-$3,000 | 19.1% |
| $3,001-$4,000 | 19.3% |
| $4,001-$5,000 | 19.6% |
| More than $5,000 | 8.5% |
| Income varies each month | 2.1% |
One in ten Gen Z respondents (9.4%) said that they feel their monthly earnings are not enough to support their current cost of living.
How does Gen Z view the workplace?
Work-life balance is most important for Gen Z workers
When asked about the most important things about their current job or jobs they apply for, 38.7% of Gen Z said work-life balance was one of the most important aspects. This was followed by making friends (38.2%), and company culture (37.7%).
Almost a third (32.3%) said that salary was one of the most important things they consider when looking for a new job.
Only 2.6% of Gen Z workers said they prioritize remote work when looking for a job. Recent research from another study by Seramount found that only 11% of Gen Z said they wanted a fully remote job, compared to 34% of people in other generations. [4] Seramount, “Gen Z Decoded” https://seramount.com/wp-content/uploads/2024/02/39012-Seramount-Gen-Z-Decoded-Executive-Summary.pdf
| Most important aspects of a job | Percentage of respondents |
|---|---|
| Work-life balance | 38.7% |
| Making friends | 38.2% |
| Company culture | 37.7% |
| Salary | 32.3% |
| Job satisfaction | 25.5% |
| Flexibility | 22.9% |
| Job security | 21.7% |
| Progression opportunities | 13.2% |
| Benefits (health insurance, paid leave, bonuses etc.) | 6.1% |
| Remote work | 2.6% |
Gen Z’s salary expectations are around $70k
When asked what their salary expectations would be when looking for a new job, the average expectation was $70,790. Most Gen Z respondents (28.8%) said they would look for between $60k and $80k, while just over a quarter (25.9%) said they would expect $40k - $60k.
| Salary expectation | Percentage of Gen Z respondents |
|---|---|
| Under $20,000 | 2.1% |
| $20,000-$40,000 | 11.3% |
| $40,000-$60,000 | 25.9% |
| $60,000-$80,000 | 28.8% |
| $80,000-$100,000 | 17.7% |
| $100,000-$150,000 | 13.4% |
| Over $150,000 | 0.7% |
A different study from Handshake found that Gen Z graduates define $82k as a high starting salary. Most respondents say a “high” starting salary would make them more likely to apply for a job, but two-thirds said their idea of a “high” starting salary was still under $100k. [5] Handshake, “Gen Z Salary Transparency” https://joinhandshake.com/network-trends/gen-z-salary-transparency/
Six in ten Gen Z workers are very satisfied with their job
The majority of respondents (59.9%) said they were very satisfied with their job, and only 6.7% said they were unsatisfied in any way with their job.
| How satisfied Gen Z workers are with their jobs | |
|---|---|
| Very satisfied | 59.9% |
| Reasonably satisfied | 34.4% |
| Unsatisfied | 4.5% |
| Very unsatisfied | 1.2% |
70% of Gen Z workers feel happy at work
Alongside most Gen Z workers feeling satisfied with their jobs, the majority also felt positive emotions towards their work. 70% said they felt happy at work, 46% said they felt proud of their work and 42.2% said they felt inspired.
Negative emotions were less common as 21.5% said they felt stressed, 16.7% felt anxious and 9.7% felt sad.
| Emotions felt at work | Percentage of respondents |
|---|---|
| Happy | 70% |
| Proud | 46% |
| Inspired | 42.2% |
| Valued | 31.6% |
| Stressed | 21.5% |
| Anxious | 16.7% |
| Sad | 9.7% |
| Angry | 5.9% |
| Indifferent | 3.3% |
Data note: Respondents were able to choose up to three answers.
The vast majority (90.8%) of Gen Zers also say they feel valued by their employers, a slightly lower percentage than other generations (95%) but high nonetheless.
Other generations’ opinions of Gen Z at work
Workers from other generational groups were asked about their opinions of Gen Z in the workplace including their performance and attitudes towards work.
Most workers have a positive view of Gen Z in the workplace
More than three-quarters of non-Gen Z workers say that their Gen Z coworkers are friendly, while 63.6% say they are confident, and 40.1% say they are hardworking.
Contrary to some stereotypes that Gen Z are lazy and uncommitted at work, only 11.6% of survey respondents think their Gen Z coworkers are lazy, and just 7.3% think they are uncommitted. [6] NY Post, “Everyone Thinks Gen Z is Lazy But People Are Secretly Envious of Their Best Qualities” https://nypost.com/2024/06/13/lifestyle/everyone-thinks-gen-z-is-lazy-but-people-are-secretly-envious-of-their-best-qualities/
| How workers from other generations view Gen Z in the workplace | |
|---|---|
| Friendly | 75.5% |
| Confident | 63.6% |
| Hardworking | 40.1% |
| Ambitious | 27.8% |
| Performing well | 26.8% |
| Unfocused | 12.6% |
| Lazy | 11.6% |
| Uncommitted | 7.3% |
| Performing poorly | 1.3% |
Data note: Respondents were able to choose up to three answers.
Additionally, 70.5% of workers surveyed think their Gen Z colleagues perform better than workers from other generations, and 88.4% think Gen Z workers make good managers.
However, of all respondents including Gen Z workers, 64.6% said their Gen Z coworkers are often late to work.
How Gen Z workers compare to other generations
The majority of workers surveyed (93.3%) said they enjoy interacting with coworkers in different age ranges from their own, but how do other generations' feelings about work compare to Gen Z’s?
22.9% of Gen Z are focused on climbing the career ladder
Adults from all generations were asked about their main motivation for going to work. The most common answer among Gen Z respondents was climbing the career ladder (22.9%) followed by a passion for their work (20.3%).
In comparison, respondents in the Millennial, Gen X, and Baby Boomer age groups were less focused on climbing the career ladder (12.6%) but even more focused on feeling passionate about their work (31.1%).
Gen Z is also more concerned with job security than other generations, with 8.5% selecting this as their main motivation, vs 3.3% for other age groups. Across all respondents, only one in ten said their main motivation for going to work was getting paid
| Main motivation for going to work | Gen Z | Other generations |
|---|---|---|
| Climbing the career ladder | 22.9% | 12.6% |
| Passion for your work | 20.3% | 31.1% |
| Making a difference | 18.9% | 12.6% |
| Developing skills and experience | 15.3% | 29.5% |
| Getting paid | 9.0% | 8.9% |
| Job security | 8.5% | 3.3% |
| Feeling a sense of achievement | 3.5% | 1.3% |
| The people you work with | 1.7% | 0.7% |
Most workers feel some loyalty to their employer
Despite some myths that Gen Z are more likely to quit jobs because they’re disloyal, this survey found that Gen Z’s loyalty to employers is almost the same as that of older generations. 84% of Gen Z workers said they feel loyal to their employer, compared to 88.1% of people in other generations. [7] CNBC, “Gen Z Bosses on the 6 Misconceptions People Have About Them in the Workplace” https://www.cnbc.com/2024/05/20/gen-z-workplace-consultants-the-biggest-myths-about-their-age-group.html
| Percentage of workers who feel loyal to their employer | |
|---|---|
| Gen Z | 84% |
| Other generations | 88.1% |
Half of Gen Z prefer to work remotely than in-person or hybrid
Gen Z workers prefer remote work over going into the office or having a hybrid schedule, as 49.3% say working remotely would be their first choice. Workers from other generations prefer going into the office (40.1%) but are also more likely than Gen Z to opt for a hybrid setup (23.2% vs 13.9%).
| Gen Z (%) | Not Gen Z (%) | |
|---|---|---|
| In-person | 36.8% | 40.1% |
| Mix of both/hybrid | 13.9% | 23.2% |
| Remotely | 49.3% | 36.8% |
Gen Zers feel more guilty about calling in sick
Most workers surveyed said they feel guilty when they call in sick for work, but Gen Z workers are more likely to feel guilty (69.8% compared to 55.3% for other generations).
This reflects other research from Bamboo HR which found that 64% of workers feel negative emotions like stress, anxiety, guilt, and fear when calling in sick. [8] Bamboo HR, “Why U.S. Workers Don’t Take Sick Leave” https://www.bamboohr.com/resources/guides/sick-guilt-2023
| Do workers feel guilty about calling in sick for work? | Gen Z (%) | Not Gen Z (%) |
|---|---|---|
| No | 17.5% | 21.5% |
| Sometimes | 12.7% | 23.2% |
| Yes | 69.8% | 55.3% |
Do workers agree with Gen Z stereotypes?
People of all generations were asked whether they believe some common Gen Z stereotypes to be true.
48.5% think Gen Zers change jobs a lot
The most common assumption that people agree with is that Gen Zers are always changing jobs. A 2023 study by Resume Lab also found that 83% of Gen Z workers consider themselves to be job-hoppers who frequently look for new opportunities. [9] Resume Lab, “83% of Generation Z Workers Are Job Hoppers” https://resumelab.com/career-advice/generation-z-and-work
Other common assumptions people agree with when it comes to Gen Z are that they only care about salary (44.9%) and they are always on their phones (28.9%)
| Gen Z worker stereotypes people believe are true | |
|---|---|
| They are always changing jobs | 48.5% |
| They only care about the salary | 44.9% |
| They are always on their phones | 28.9% |
| They only want to work remotely | 27.4% |
| They don’t want to work | 17.6% |
| They are lazy | 15.2% |
| None of the above | 9.9% |
| They are disrespectful | 5.9% |
While people do agree with certain stereotypes about Gen Z, 69.6% said they believe many of these stereotypes are exaggerated.
Methodology
A survey of 1,181 adults was carried out in July 2024 on behalf of Self Financial to find out about Gen Z’s opinions on work, and other generations’ views on Gen Z in the workplace. 58.4% of respondents were from the Gen Z age group, while 41.6% of respondents were from other generations including Millennials, Gen X, and Baby Boomers.
Sources
- [1] NaceWeb, “Generation Z in the Workplace” https://www.naceweb.org/talent-acquisition/student-attitudes/generation-z-in-the-workplace
- [2] Glassdoor, “Workplace Trends 2024” https://www.glassdoor.com/blog/workplace-trends-2024/
- [3] Axios, “Gen Z Will Overtake Boomers in Workforce in 2024” https://www.axios.com/2023/11/22/gen-z-boomers-work-census-data
- [4] Seramount, “Gen Z Decoded” https://seramount.com/wp-content/uploads/2024/02/39012-Seramount-Gen-Z-Decoded-Executive-Summary.pdf
- [5] Handshake, “Gen Z Salary Transparency” https://joinhandshake.com/network-trends/gen-z-salary-transparency/
- [6] NY Post, “Everyone Thinks Gen Z is Lazy But People Are Secretly Envious of Their Best Qualities” https://nypost.com/2024/06/13/lifestyle/everyone-thinks-gen-z-is-lazy-but-people-are-secretly-envious-of-their-best-qualities/
- [7] CNBC, “Gen Z Bosses on the 6 Misconceptions People Have About Them in the Workplace” https://www.cnbc.com/2024/05/20/gen-z-workplace-consultants-the-biggest-myths-about-their-age-group.html
- [8] Bamboo HR, “Why U.S. Workers Don’t Take Sick Leave” https://www.bamboohr.com/resources/guides/sick-guilt-2023
- [9] Resume Lab, “83% of Generation Z Workers Are Job Hoppers” https://resumelab.com/career-advice/generation-z-and-work
