Mar 7, 2024
Young Americans are rejecting hustle culture and the frantic girlboss energy of previous generations since they aren’t seeing any major benefits to being overworked for meager salaries or low raises in the current corporate world.
"I think [Gen Z has] more of an attitude of ‘work to live’ as opposed to ‘live to work’ that many of us grew up with,” global thought leader and future-of-work expert Ravin Jesuthasan told Business Insider, explaining that many older generations believed they were guaranteed pensions and medical care once they retired.
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“They have seen the legacy of all these broken promises.”
Here’s why Gen Z is embracing a better work/life balance — and are being smart about it too.
Why Gen Z is fed up with hustle culture
Unlike previous generations who chose the grind — working extra hours and taking on more tasks in order to prove their standing to employers — Gen Z is taking a different approach.
Wages haven’t kept up with inflation, which means purchasing power is reduced. The surging cost-of-living, coupled with rising home prices and mortgage rates over the years, also means many young Americans can’t reach the same milestones their parents and grandparents did, like buying their first home.
In addition, Gen Z watched millennials, burdened by student loans and the financial consequences of two recessions, struggle through it all — so, they’re not going to make the same mistakes.
The younger generation is prioritizing their work/life balance over burnout and some of them are even “quiet quitting” since they’ve realized overworking themselves won’t get them far in today’s economy.
"Many of us built, whether it's bought homes or whatever, based on this promise of stability," Jesuthasan said. "There was this expectation that the tail was bigger. And we took on liabilities and obligations early on because of that tail.”
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“I think this generation has seen that tail dissipate."
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What young Americans are doing instead
To make up for the wealth gap, Gen Z is coming up with clever and creative ways to boost their incomes while asserting firm boundaries around their 9-to-5 schedules.
For one, they’re less likely to stay loyal to one company for most of their career, and will jump ship when they find a better opportunity elsewhere.
According to a report from ResumeLab, a stunning 83% of Gen Zers considered themselves job hoppers. And 7 in 10 said a competitive salary is important or very important when deciding whether or not to stay with a current employer.
A 2023 survey from professional services organization Ernst & Young Global Limited also revealed that nearly 40% of Gen Z hold a full-time job and have a side hustle to earn extra cash.
Others are also turning to investment opportunities to grow their money, such as cryptocurrency and real estate, especially as robo-advisers and new investment apps make it easier to get in on the market.
With defined-benefit pension plans all but obsolete, it’s more important than ever that young American workers ensure they’re accumulating enough wealth for the future — and they’re not relying on their employers to get the job done.
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Serah Louis is a reporter with Moneywise.com. She enjoys tackling topical personal finance issues for young people and women and covering the latest in financial news.
