Findings of a new survey reveal that Generation (Gen) Z workers have high expectations when it comes to earnings, promotions, and management opportunities, but still worry about making decisions, not being “good enough” and their ability to repay student loans.
The survey, conducted by InsideOut Development, indicates that a majority of Gen Z (75%) workers say it’s important to have a boss who can coach employees. They also strongly value bosses who communicate company vision effectively, provide frequent feedback and are overall consistent in the way they deal with employees.
Additional findings include:
- Gen Z has high expectations for pay and promotions.
- 75% believe they should work in their first position for only a year before receiving a promotion, and 32% believe they will deserve a promotion within the first 6 months of working.
- More than 40% believe they’ll make more than $100k per year at the height of their career, and half of those believe they’ll clear more than $150k per year.
- Gen Z believes in Bachelor‘s degrees.
- 80% believe they need at least a Bachelor’s degree in order to land their dream job.
- Nearly 70% believe they’ll need at least a Bachelor’s degree to maintain a comfortable lifestyle.
- Gen Z is still concerned about student loans, career choices and being “good enough.”
- Only 30% are confident they’ll be able to repay their student loans.
- When it comes to getting their first job, Gen Z is most afraid of discovering they made the wrong career choice (26%) and not being good enough (26%).
- Gen Z wants good managers and hopes to become managers.
- 60% aspire to management positions of their own.
- More than 75% say a boss’s ability to coach is important (almost one in four say it’s the most important attribute of a manager).
- 25% would leave an organization because of a boss who manages through fear.
This survey polled more than 1,000 respondents aged 18-23 across the United States. For the purposes of this survey, Generation Z — also referred to as post-Millennials, Gen Z or the iGeneration – refers to individuals born between 1996-2010. Research shows that Gen Z will make up almost a quarter of the global workforce by 2020, making it the fastest-growing generation in the workforce.
To download an ebook with the full survey findings, visit https://www.insideoutdev.com/gen-z.