Here’s how Gen Z truly feel about their salaries

Pay is a key consideration for millennials – as well as Gen Zs – but work-life balance and flexibility are almost as important as salaries. The bottom line: Young people are generally satisfied with their salaries and work-life balance.

There were some differences, with Gen Z respondents more likely than millennials to be happy with their pay and work-life balance.

The survey of 1,000 young people was commissioned by The Straits Times and carried out in May by market research firm Kantar. Here’s how these younger workers viewed their salaries and related aspects of employment, such as work-life balance and a career that lines up with their passion.

Here’s how Gen Z truly feel about their salaries

He had a taste of working life in 2023 when he and five schoolmates started their own company, Infuzed pro, selling probiotic beverages, as part of their coursework at Singapore Polytechnic.

The students sold the beverages at small-scale events and ran workshops on how to make probiotic drinks. The business is currently on hold while several of its founders finish national service.

Mr Mishra said a lot of blood, sweat and tears went into the company – from testing the science behind their recipes and finding funding, to getting training in food safety and moving and washing the drink kegs.

“Because I was interested in what I was doing, working 12 hours a day wasn’t a problem when I was running this company,” said Mr Mishra, who recently joined artificial intelligence start-up Resumify as the firm’s chief financial officer.

“Work-life balance sorts itself out if you really like what you’re doing. I think it’s also helpful when the profit goes directly to you. When you work for a big company, you’re just a salaried employee.”

But he is not ruling out being a salaried employee, especially if the job is tied to his interest in start-ups.

“I like the idea of new ideas and helping people start things, so maybe something in the venture capital industry,” he said. “A nine-to-five job has very big advantages: you have insurance, you have steady income, you have these things that you can’t have when you run your own business. The key thing is that the job must be stimulating and help me grow.

Better pay and credentials. More knowledge. Many will understand why Ms Khoo went back to school to get a bachelor’s degree, after teaching for more than three years at a childcare centre.

The holder of a diploma in early childhood education from Ngee Ann Polytechnic, Ms Khoo’s interest in working with children was sparked when she was a volunteer in secondary school. One of her stints was a two-week overseas immersion trip to Ben Tre city in Vietnam, where she and her classmates planned simple activities to help young children learn how to read.

“I’ve always thought of teaching as very fulfilling. It’s very heart-warming to see the kids build their confidence and grow. They also have an intrinsic motivation to want to learn as they feel encouraged by their friends and others around them,” said Ms Khoo, who now teaches part-time two to three days a week.

She hopes to use her degree to mentor other teachers, but recognises that it can also open the door to other opportunities, like lecturing at a polytechnic or planning curricula.

“It’s kind of like going back to my roots and helping to influence the next generation of educators in Singapore,” she said.

This article was originally published in The Straits Times.