Yet members of Generation Z are far more ambitious than their detractors claim. Power, success and hedonism are their shared values. What's more, 44% of respondents in this age bracket say it's important for them to be successful and to be recognised for their achievements.
As it turns out, Gen Zers are every bit as ambitious, and even more anxious, as the overworked millennials before them, but they're redefining what success looks like at work and in life. Hustle culture isn't dead — it's just getting a Gen Z rebrand.
Gen Z is more likely than older generations to pursue leadership positions, with 38% aspiring to be CEO, compared to 18% of Gen X and 21% of Boomers, according to a 2022 study by global consultancy United Minds in partnership with KRC Research.
Baby boomers have the highest household net worth of any US generation. Defined by the Federal Reserve as being born between 1946 and 1964 (currently in the ages between 59 and 77), baby boomers are in often in the sunset of their career or early into retirement.
Generation Z students are on track to become the most educated generation. They have higher high school graduation rates and lower dropout rates than those who came before. In 2018, 57% of 18 to 21-year olds were in college, compared with 52% of Millennials, and 43% of Gen Xers at similar ages.
A CM Group consumer research effort that polled 1,000 consumers found Gen Z consumers are better educated, more practical, more ambitious and more skeptical than Millennials.
Gen Zers are known for working, shopping, dating, and making friends online; in Asia, Gen Zers spend six or more hours per day on their phones. Digital natives often turn to the internet when looking for any kind of information, including news and reviews prior to making a purchase.
Is Gen Z the poorest generation? Gen Z has experienced higher poverty rates than millennials, Gen Xers and baby boomers, according to the KIDS COUNT Data Center, but Gen Alpha is the poorest generation to date.
Boomers will continue to be the wealthiest generation in the United States until at least 2030 (figure 2). Their share of net house- hold wealth will peak at 50.2 percent by 2020 and decline to 44.5 percent by 2030, quickly tapering off thereafter as mortality rates escalate.
e' Gen Z Workers, are actually the Happiest and Hardest Working Generation, say Researchers.
New research from marketing and data analytics company Kantar revealed that 36% of millennials, 30% of Gen X and 21% of Boomers have at least two jobs, but Gen Z are the busiest side-hustlers — with 40% working an extra gig, Fox Business reported.
Gen-Z cares about following their passions, caring for the earth and demanding social and environmental justice from high-level decision-makers. As a result, they're more vocal, values-driven and individualized than generations that came before them.
According to a new study conducted by a team of researchers led by Dr. Naveen Puri, our ambition peaks around the age of 33—the sweet spot that exists on the border of vigor and lived experience.
Generation Z:
They have a set of common priorities that seem alien to other generations: they're more motivated by social conscience, they're more au fait with technology and they're generally seen as a generation who expect more from life.
Here's what companies can do about it. In a survey by the Alexandria, Virginia-based nonprofit, 47% of Gen Z workers reported experiencing stress related to their job at least once per week, compared to 27% of Baby Boomers.
They're avid gamers. If there's one thing this generation loves to do, it's game. It's a hugely popular pastime for this group, particularly gaming on smartphones. Almost 9 in 10 Gen Z game on any device.
Approximately 70% of wealthy families lose their wealth by the next generation, with 90% losing it the generation after that.
In particular, Gen Z trusts influencers more than ever before due to their relatability and unbiased opinions. Influencers often engage with their followers in various ways, from hosting meet-ups to live streaming their daily lives on social media platforms.
Generation X
Colin Huang built one of China's largest e-commerce platforms, Pinduoduo, in 2015. Gen X billionaires also include Elon Musk and Google co-founder Larry Page.
According to Cigna International Health's 2023 survey of almost 12,000 workers around the world, 91% of 18-to-24-year-olds report being stressed – compared to 84% on average. Research indicates Gen Z are emerging as the most stressed demographic in the workplace, and struggling mightily to cope.
Members of Generation Z report higher rates of depression and a number of other mental health conditions than do generations before them. At the same time, they are more likely than previous generations to report these problems, positioning those who seek help in a place to receive it.
Generally speaking, the Greatest Generation are the parents of the "Baby Boomers" and are the children of the "Lost Generation" (those who grew up during or came of age during World War I). They preceded what is known as the "Silent Generation," a cohort born between the mid-1920s to the early-to-mid 1940s.
And it looks like Gen Z is indeed shaping up to be a homebody generation as well: Looking at their favorite activities by age, 13-18-year-olds are the most likely to say they “go out with friends” for fun in an average night, but playing video or mobile tops their list, followed by watching TV or movies.
As students, this generation is great at researching and finding information. They want to learn on their own terms and prefer bite-sized learning. Having grown up in the age of the internet, smart devices and social media, they're accustomed to searching topics of interest for school, DIY projects and other interests.
YPulse's Metaverse trend report data shows Gen Z playing virtual world games are using them as a way to hang with friends the same way they would IRL. More than half of Gen Z (54%) say they hang out with friends virtually while they game, and an additional 39% say they hang out with them in-person while playing.