The survey conducted by Instagram found that one in three Gen Z'ers believes that working for themselves is the best pathway to wealth. It's important to consider the age range of Gen Z—between 11 and 26—when interpreting this data. This survey specifically polled individuals aged 16 to 26, so while older participants may have a clearer life plan, younger ones are likely still figuring things out. Additionally, many in this age group may still be living with their families and not of legal age to work full-time, influencing their perspectives on work and wealth.
It's notable that while some Gen Z individuals are entering the workforce and making career decisions, there is a prevailing inclination towards self-employment, possibly indicating a lack of trust in traditional employment structures. This is in line with the characterization of Gen Z as the "hustle generation" and reflects a shift from the belief that traditional employment leads to financial security, especially considering the challenges faced by previous generations.
There are concerns regarding workplace stress and anxiety among Gen Z employees, as well as perceptions of their work ethic and skill sets by their superiors. Notably, Gen Z workers prioritize the acquisition of job-specific skills over traditional "soft skills" and may even decline promotions into management roles. This suggests a different approach to career advancement compared to previous generations.
While the specifics of the survey, including the number of participants and the method of data collection, were not disclosed, the survey covered multiple countries, including the US, UK, Brazil, India, and South Korea. It's also important to consider how Gen Z attitudes differ from those of other generations, a factor not addressed in the survey.
Ultimately, it seems that Gen Z is responding to the challenges faced by previous generations by considering alternative approaches to building wealth and navigating their careers.