Here Is The Exact Salary That Defines Success For Gen Z and Millennials

gen z millennial salary

What will it take to feel like you’ve made it? A huge salary? A massive house in the burbs? It’s a loaded question and not one that is easily answered, primarily because the answer will be different for everyone. But today we come to you with the exact salary that Gen Z and Millennials need to feel like they’ve succeeded.

A survey conducted by Skynova unveils the average salary that young adults consider the ultimate mark of achievement, and it’s mind-blowing! According to 1,000 respondents aged 22 to 35, the magic number to feel like they’ve truly “made it” is an astonishing $121,553 per year. Gen Z sets their sights even higher at $124,494, while millennials aim for $120,902.

Prepare to be floored: These figures far exceed the average American income, with the 2021 median at a mere $69,717. It’s no wonder that 58% of these ambitious generations feel unsatisfied with their current earnings, daring to dream bigger.

But here’s the kicker: Even when envisioning the salary they desire for their current efforts and expertise, millennials and Gen Z don’t settle for less. Their desired pay package ranges from $71,000 to $80,000, significantly surpassing the norm.

However, experts advise these budding professionals to remember they’re at the early stages of their careers, and experience often brings higher salaries. So don’t fret if you’re feeling discouraged. There’s still time to soar!

For those eager to achieve success sooner rather than later, the study suggests pursuing careers in law, financial services sales, or web development, which reward young workers aged 22 to 35 with generous pay ranging from $120,000 to $150,000.

Here’s the plot twist: Despite the allure of hefty paychecks, a staggering 88% of Gen Z respondents expressed zero interest in becoming lawyers. Instead, their top career choices include nursing, teaching, retail management, customer services, and vehicle driving.

The gap between the highest-paying jobs and the actual career paths chosen by young professionals indicates that many will need to switch gears to achieve their vision of success. Alternatively, the researchers propose negotiating for higher salaries, although the reality is that most employers won’t shell out six-figure sums overnight, as over half of the respondents haven’t received a raise in the past year.

In the end, it’s clear that these driven individuals won’t settle for average, aiming high and determined to make their mark on the world.

C. James

C. James is the managing editor at Wealth Gang. He has a degree in finance and a passion for creating passive income streams and wealth management.