Gen Z workers are rewriting career rules, with nearly one-third changing jobs last year to boost earnings.
A recent report highlights the generation's strategic moves, showing that 35% of these job-hoppers switched roles to secure higher pay.
The findings emphasize a broader trend among Gen Z to prioritize financial growth and break free from traditional employment norms.
Biggest Earners of 2024
Nearly 30% of Gen Z workers changed jobs in the past year, and 35% did so to negotiate better pay.
The study, which analyzed tax return data dating back to 1999 and included more than 7,800 survey responses, reveals how this generation is reshaping their financial futures, according to an H&R Block report
Gen Z workers are not only moving between jobs for higher wages but also capitalizing on opportunities beyond the 9-to-5 grind.
Side hustles have become a key component of their financial strategies, with many turning to platforms like food delivery apps, surveys, and online sales to supplement their income.
The report suggests that this approach is paying off. In 2023, Gen Z saw a 30% increase in earnings compared to 2022, the largest relative increase across all generations.
Two-thirds of Gen Z workers think they have earned even more this year. Latasha Randle, H&R Block's strategy and small-business program manager, noted the shift: "They're finding that they don't have to stick to the traditional 9-to-5 schedule to achieve financial stability."
Side Hustles and Remote Opportunities
Beyond job-hopping, Gen Z is leveraging side hustles and remote work to bolster their financial stability. The report shows that 24% of young workers participate in gig economy jobs like food delivery or ride-sharing. Others are using platforms like eBay, product testing or survey participation to make extra money.
And 29% say they want to be their own boss and 59% aim to open small businesses. Others envision careers as influencers or artists.
Shifting Values in the Workplace
Gen Z's approach to work goes beyond financial growth. Many prioritize roles that align with their values and interests. Remote work, facilitated by digital platforms, enables them to balance personal goals with professional responsibilities. This flexibility has made non-traditional career paths more accessible than ever.
Their financial strategies aren't limited to income growth. The report highlights their efforts to save for major milestones like homeownership, with 63% actively saving and 23% planning to buy a home within the next year.
Investments in cryptocurrency and gold further underscore their innovative approach to wealth-building.
