As an employer, it’s your job to navigate your employees’ salary expectations and raise requests. But it turns out Gen Z has some wild views about salaries.
In fact, a new survey highlights just how out of sync with reality many in Gen Z are. The survey, from software company Pollfish, asked 750 childless Gen Zers who are employed full-time about their income and finances. What they discovered was fascinating and concerning at the same time.
Now, keep in mind all the caveats about small samples and such, but take a look at some of the interesting results:
- 100 percent of those earning $30,000 a year felt their pay was fair.
- 100 percent of those earning over $30,000 a year felt they were paid too little.
- Of those who feel underpaid:
- Around 9 percent believe they should be paid up to $40,000 annually,
- 17 percent expect between $40,000 and $50,000,
- 20 percent want between $50,000 and $70,000,
- 35 percent believe they should earn between $70,000 and $100,000, and
- 20 percent feel they should be paid over $100,000.
- 40 percent say they cannot meet their basic needs
- Those who say they cannot meet their basic needs spend an average of $372 per month on unnecessary items.
It’s time for some financial literacy education–even if you have to be the one to supply it.
To keep reading, click here: The Great Salary Disconnect: What Gen Z Gets Wrong About Pay
This sounds like everyone being upset at millenials for eating avocado toast all over again. * Nope, you’re not underpaid. You just don’t know how to budget. *