![[US] Gen Z believe they are underpaid in the workplace](http://globalpayrollassociation.com/cdn/shop/articles/bigstock-Millenial-Friends-Employees-Gr-436399055_1200x.jpg?v=1727650780)
New research has revealed that 87 per cent of Gen Z workers believe they are underpaid, even those earning six-figure salaries, Newsweek reports.
The survey - conducted in September 2024 by ResumeTemplates.com - questioned 1,750 full-time employees aged 17 to 27.
It found that only 13 per cent of Gen Z workers believe they are being paid fairly. Among those expressing the belief that they are underpaid nearly one-third reportedly think they should be earning between $70,000 and $100,000 annually while 20 per cent (1 in 5) say their salary should exceed $100,000.
The majority of respondents stated that they earn less than $60,000, with 33 per cent making under $30,000 and 46 per cent earning between $30,000 and $60,000. Only 6 per cent of respondents made more than $100,000.
Newsweek noted that most Gen Z workers have been in the workforce for fewer than four years and 7 per cent of the survey’s respondents reported less than a year of full-time employment.
Financial stress was a recurring theme in the replies; 40 per cent of respondents admitted that they struggle to make ends meet on their current salaries. Of this group, 14 per cent said they would need between $80,000 and $100,000 to live comfortably, while 19 per cent reportedly believed they would require more than $100,000.
Economic concerns continue to be a priority for many Americans, particularly heading into the 2024 election. A YouGov/Economist poll conducted between August 17 and 20 among 1,565 US adult citizens found inflation and prices to be the most important issues for voters at 26 per cent, followed by jobs and the economy at 12 per cent. Despite inflation easing, food prices remain 21 per cent higher than they were three years ago.
Lowering the cost of living has even been suggested as a way presidential candidates could win key states in November’s election.
"The career path and industry you choose have a significant impact on earning potential," Julia Toothacre - chief career strategist at ResumeTemplates.com - told Newsweek, "But with inflation surging over the past few years, it's not surprising that many young workers feel financially squeezed, even if they're making what used to be considered high salaries. The cost of living has changed, and so have expectations."
Source: Newsweek
(Links and quotes via original reporting)
New research has revealed that 87 per cent of Gen Z workers believe they are underpaid, even those earning six-figure salaries, Newsweek reports.
The survey - conducted in September 2024 by ResumeTemplates.com - questioned 1,750 full-time employees aged 17 to 27.
It found that only 13 per cent of Gen Z workers believe they are being paid fairly. Among those expressing the belief that they are underpaid nearly one-third reportedly think they should be earning between $70,000 and $100,000 annually while 20 per cent (1 in 5) say their salary should exceed $100,000.
The majority of respondents stated that they earn less than $60,000, with 33 per cent making under $30,000 and 46 per cent earning between $30,000 and $60,000. Only 6 per cent of respondents made more than $100,000.
Newsweek noted that most Gen Z workers have been in the workforce for fewer than four years and 7 per cent of the survey’s respondents reported less than a year of full-time employment.
Financial stress was a recurring theme in the replies; 40 per cent of respondents admitted that they struggle to make ends meet on their current salaries. Of this group, 14 per cent said they would need between $80,000 and $100,000 to live comfortably, while 19 per cent reportedly believed they would require more than $100,000.
Economic concerns continue to be a priority for many Americans, particularly heading into the 2024 election. A YouGov/Economist poll conducted between August 17 and 20 among 1,565 US adult citizens found inflation and prices to be the most important issues for voters at 26 per cent, followed by jobs and the economy at 12 per cent. Despite inflation easing, food prices remain 21 per cent higher than they were three years ago.
Lowering the cost of living has even been suggested as a way presidential candidates could win key states in November’s election.
"The career path and industry you choose have a significant impact on earning potential," Julia Toothacre - chief career strategist at ResumeTemplates.com - told Newsweek, "But with inflation surging over the past few years, it's not surprising that many young workers feel financially squeezed, even if they're making what used to be considered high salaries. The cost of living has changed, and so have expectations."
Source: Newsweek
(Links and quotes via original reporting)