Charles Russell Speechlys' Gen Z Survey referenced in Forbes article on how Gen Z is reshaping the world of work
min readIn an article for Forbes, a senior contributor covering career, entrepreneurship and women's advancement topics argues that Gen Z is "preparing to reshape the workforce", especially regarding salary negotiation.
The contributor explains that unlike previous generations, who are less likely to negotiate starting salaries, Gen Z is pushing back on employers - according to the latest Salary Negotiation and Expectations survey from Resume Genius, 55% of Gen Z employees negotiated their salary compared to 48% of Millennials and 42% of both Gen X and Baby Boomers.
The piece also notes that while over one-third of Gen Z aims to earn over $100,000 by the age of 30, it’s a "tough job market". Federal government jobs are disappearing, and private sector roles are in high demand. While the overall unemployment rate remains steady, unemployment among college graduates between ages 22 and 27 has risen to 5.8% from 4.8% since January, according to the Federal Reserve Bank of New York. But companies in areas like energy, manufacturing, and software are reportedly increasing their projections for new graduate hires.
The article goes on to explore the more "financially focused" outlook that many Gen Z individuals are taking compared to previous generations. The contributor notes that many Gen Z workers entered the labor market during the pandemic - causing this generation to prioritize financial security", and cites our Firm's recent Gen Z survey.
Our survey, which sought the views of 4,000 people, reveals that over two in five Gen Z adults would use inheritance or monetary gifts to save for the future. Meanwhile, 33% would purchase real estate, and 32% would use it as a down payment for a home. The study also found that 81% of Gen Z have engaged in conversations around estate planning, compared to 68% of older generations.
Read the full article in Forbes here.
Read more findings from our survey on the attitudes of Gen Z to financial planning here.
