The workforce’s youngest cohort has been labeled lazy, entitled, and unrelentingly pessimistic by their elders. But critics might be missing something as they watch Gen Z piddle their way through life’s early stages. The kids these days are taking every precaution to make sure they are ready ahead of each next big step—whenever they eventually get around to taking it.
Shaped by uncertainty from the COVID-19 pandemic, inflation, and a volatile housing market, Gen Z appears to be taking the slow-and-steady route in life. But Gen Z’s predisposition toward moderation might not be the mark of a slacker generation: It might be the calling card of a more discerning one.
When asked what their ideal career path might look like, 44% of Gen Z respondents say they’d prefer steady progress, compared with just 25% who seek out fast-paced promotions and title upgrades, according to a survey of 22,500 young people in 44 countries published by Deloitte on Monday. Only 6% of Gen Z and millennial respondents said achieving a leadership position was a top priority in their career, with many citing fear of stress, burnout, and how it would harm work-life balance.
But a look at what Gen Zers are doing with their time suggests cautious movement is more than a signal of low ambition. Many are developing skills such as public speaking or AI fluency, while around 10% are even willing to move laterally or take a step down in title to gain more experience before the next step, according to Deloitte.
And for all their caution toward management opportunities and promotions at work, the Deloitte survey implies Gen Z still does intend to take the step at a later date: 76% say they would want to pursue an executive leadership role at some point in their careers.
The fact that Gen Z is spending more time investing in their skills and professional growth isn’t surprising given that the jobs market has grown increasingly hostile to entry-level workers, who face the threat of a sudden, AI-driven recalibration of work demands.
The careful generation
Despite the luxury showcase often displayed on influencer accounts, the majority of Gen Z is living cautiously. They are more likely to wait longer on big financial decisions such as buying a house, starting a family, or even owning a car than older generations did.
But Gen Zers seem to make their life choices primarily with deliberation in mind. Recent surveys suggest younger shoppers are more careful with their online spending, often leaving their items parked in virtual carts days longer than older shoppers do before making a purchase decision.
A recency bias is at least partly to blame. Young people are more likely to spend less—regardless of what generation they are a part of. Even Gen Xers and older millennials were tighter with their money when they were in their 20s. And bosses have been chiding younger workers for their behavior and ambitions long before Zoomers entered the workplace chat.
But Gen Z might be growing through these same life stages with more intentionality than their elders. Nearly all Gen Zers (96%) surveyed by Deloitte said they prioritized feeling a sense of purpose in their job, with nearly half saying they had rejected assignments or even employers because of mismatched values.
Apprehension toward the future might also be driving some of Gen Z’s decision-making. Nearly a third of respondents said they maintained a side-hustle, with the top driver being financial need. Around one in five respondents said their employers were making fewer entry-level hires, and replacing entry-level roles with internships. AI fluency is also one of the most highly sought-after skills for young workers, targeted by 37% of Gen Zers, and nearly three-quarters of respondents said they already use AI in their daily work.
“Adaptability is now a core career capability, one that enables [Gen Z] to remain relevant and resilient amid constant change,” the report’s authors wrote.
The current labor market’s direction is anyone’s guess, so versatility might be an asset for young workers. A growing number in the U.S. are turning to jobs in the trades, entrepreneurship, or freelancing—often simultaneously with full-time jobs or other side-gigs—to make ends meet and to build a more durable career ladder.
But despite many in the cohort striking out on their own, Gen Z exhibits lower financial literacy than older generations. Locked out of homebuying, Gen Z is also investing in the stock market earlier than other generations did, but many are basing decisions on social media influencers and FOMO (fear of missing out) rather than more certified picks.
Young people are navigating the labor market’s rough hand with caution, but in some areas, Gen Z might still have some growing up to do.
