Is Gen Z Ambitious or Unrealistic? Exploring Salary Expectations and Success
What does it take to feel “successful” today?
For Gen Z, the answer is eye-catching: according to research by Empower cited in a CNBC article, adults between the ages of 18 and 27 believe they need an average annual salary of $587,797 to feel successful. This figure dwarfs the expectations of other generations and raises the question: are these aspirations ambitious, or do they reflect unrealistic standards?
Here’s how the numbers compare across generations:
Gen Z’s number is nearly six times higher than that of Baby Boomers and significantly higher than any other age group. But what’s driving these lofty expectations?
The Changing Definition of Success
Gen Z came of age during a time marked by rising living costs, global uncertainty, and increased awareness of income inequality. For this generation, success isn’t just about surviving—it’s about thriving. This could help explain why their salary expectations are so much higher: they’re not just adjusting for inflation; they’re also responding to a world where traditional markers of success, like homeownership and financial security, feel increasingly out of reach.
Ambition or Unrealistic Expectations?
On one hand, these figures reflect Gen Z’s ambition. This generation is known for advocating for fair compensation, prioritizing work-life balance, and striving for careers that align with their values. A six-figure—or even seven-figure—salary may symbolize their desire for financial freedom and the ability to meet their goals without compromise.
On the other hand, such high salary expectations might be disconnected from economic realities. For example, the median household income in the United States in 2023 was approximately $74,000, a far cry from Gen Z’s ideal. While some Gen Zers may achieve their financial goals through strategic career growth or entrepreneurial success, others may find themselves frustrated by the gap between their aspirations and the opportunities available.
Recommended by LinkedIn
Generational Differences and Systemic Pressures
The stark differences in salary expectations between generations raise interesting questions about systemic pressures. For Baby Boomers, who came of age in a more affordable economic climate, $99,874 may feel like enough to live comfortably. In contrast, Gen Z faces challenges like soaring housing costs, substantial student loan debt, and an increasingly competitive job market.
Gen Z’s lofty salary goals might not just be a reflection of personal ambition but also a critique of the current system. By setting such high benchmarks, they could be signaling dissatisfaction with the status quo and advocating for change in how work and compensation are valued.
Striking a Balance
The key for Gen Z—and all generations—is to balance ambition with actionable plans. While it’s important to aim high, success is rarely about a single number. It’s about setting realistic goals, adapting to challenges, and finding fulfillment in both personal and professional life.
Final Thoughts
Gen Z’s financial aspirations highlight their determination to achieve success, but they also raise questions about whether these expectations are feasible in today’s economy. Are they ambitiously redefining success, or do their goals need to be grounded in more practical terms?
What’s your take? Are these salary goals a sign of a motivated generation, or do they reflect the challenges of modern economic realities? Share your thoughts!