Generation Z-ero chance of applying.
Young workers say there’s no way they would submit their resume for a job that doesn’t list the estimated salary.
A recent report from the essay writing service EduBirdie revealed that 58% of Gen Z employees won’t submit an application if the expected income isn’t disclosed.
“Research keeps communicating to us Gen Z associates their personal and professional happiness more with the money they earn that past generations have,” Alex Beene, a financial literacy instructor at the University of Tennessee at Martin, told Newsweek.
“For many of them, work isn’t about fulfillment, but rather a way to earn income that provides for products and experiences that fulfill them.”
But it’s not necessarily “nefarious” on the part of the employer, he added. Some companies hesitate to share expected salaries on a job listing because of “internal concerns on how other staff may see pay compared to their own” or to other employers.
But, he said it “may be time for those employers to reconsider their choice” to not feature salaries on job postings. New York City, for one, implemented a salary transparency law in 2022 that required employers to post a “good faith pay range” for all job listings.
Beene added: “More importantly, it may not just be Gen Z in the years to come, as more employees across generations are desiring to have a better picture of pay because of current inflationary pressures.”
According to the survey, which polled 2,000 adults ages 18 to 27, 71% of young people in the workforce believe in salary transparency, saying it should be talked about in the office.
“This generation is much more transparent about everything. I think my friends are comfortable sharing what they earn, so everyone has a measuring stick to know if they are getting paid fairly for the work they do,” Maddy Carty, 30, previously told news.com.au.
She said discussions about pay between friends or colleagues can be “a good bargaining tool” so that workers “can negotiate what is fair” — and with “evidence.”
She even went so far as to say it is a “red flag” if a company attempts to bar employees from discussing salaries.
“Gen Z has watched previous generations get strung along with vague promises and being told to be grateful to even have a job. When the job’s expectations far exceed the pay, candidates want to and deserve to know upfront,” human resources consultant Bryan Driscoll told Newsweek.
“The workforce has changed, and companies that refuse to adapt are setting themselves up to lose out on an entire generation of talent.”
The report also found that 58% of Gen Z workers say that an annual income of $50,000 to $100,000 would suffice, while one in four said $100,000 to $200,000 was the ideal salary range.
Driscoll warned that employers who do not divulge salaries will probably receive fewer candidates applying for roles.
“The irony is that companies claim they want the best talent, yet many still expect candidates to blindly apply without knowing if the pay is even livable, let alone aligned with industry standards and job requirements,” he said.
“And to be clear, this isn’t a Gen Z problem — this is simply bad business strategy.”