Gen Z covets careers in finance over any other industry
- Gen Zers are now thinking about climbing the corporate ladder and finance is their preferred career choice.
- Job stability is the top priority of Gen Z college graduates, followed closely by high paying salary.
Gen Z has been vocal about maintaining stark boundaries between their jobs and personal lives. For this generation, working a 9-to-5 job means saying goodbye to leisure, giving up on freedom, and getting trapped in a run-of-the-mill job.
Climbing a corporate ladder wasn’t anywhere on Gen Z’s agenda up until now, when a majority of graduates chose finance as their preferred career choice, according to a new survey.
24% of graduates want to pursue a career in financial services over IT, healthcare, and medicine, which is a 9-point increase in the finance industry from 2021.
While this jump in numbers may come as a surprise, Gen Z's approach to work might not be that different after all amid a majority of Americans looking for extra work to grapple with inflation. While the finance industry has seen job cuts this year and the year prior, younger workers believe this industry can ultimately provide high income, opportunities for advancement, and a stable career path in the long run.
On the other hand, survey respondents stated the rising cost of living and potential for low pay (28%) as their top most concerns. This likely reflects that money and financial stability are big motivators for choosing a career.
Of all, stability is the keyword for the 2023 grads (85%) when applying for a job, prioritizing it even over pay and brand/company name. The thought behind it is seemingly linked to the fact that Gen Zers came of age during times of economic pressures and uncertainties.
Though still young, Gen Z is old enough to have experienced the financial stress that stemmed from the Covid era shaking up global economies and resulting in income and job losses for their families and communities.
Gen Z is most likely trying to find a balance between conflicting interests. Although they have a set of values they don’t want to compromise on, like work-life balance, they are also prioritizing their financial footing to become financially independent as they set foot in the adult world.