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A majority of Gen Zers report struggling to afford basic needs on full-time salary

SEATTLE, Sept. 26, 2024 /PRNewswire-PRWeb/ -- ResumeTemplates.com, the leading platform for free professional resume templates and examples, has published a recent survey report examining Gen Z's salary expectations. In September, ResumeTemplates.com surveyed 1,750 full-time workers aged 18 to 27 in the United States.

According to the survey, 87% of Gen Z workers feel they are underpaid, while only 13% believe their pay is fair. Among those who feel underpaid, nearly one-third believe they should be earning between $70,000 and $100,000 annually, while 20% feels their pay should exceed $100,000.

Forty percent of Gen Z workers say their current salary is not enough to cover their basic needs. Of this group, 14% believe they would need between $80,000 and $100,000, while 19% say they would require more than $100,000. Nearly 60% report that their salary does cover their basic expenses.

"The industry and role you choose impacts how much money you can make," says ResumeTemplates' Chief Career Strata Gst Julia Toothacre. "Given high inflation over the last few years, I would imagine that some Gen Zers feel underpaid because they are struggling to pay bills or maintain the lifestyle they had a few years ago."

Survey findings also suggest that many Gen Zers who are struggling to make ends meet acknowledge they could reduce housing costs or cut back on non-essential spending to alleviate some financial pressure.

This survey, conducted in September 2024, included 750 U.S. respondents between the ages of 18 to 27 who work full-time and do not have children. View the complete report:

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SOURCE ResumeTemplates.com