Younger generation expectations lower for work but increase for health and happiness

In a survey of 55,00 GenZ and Millennials, exploring attitudes of the younger generation towards the ‘dream job’, many said they have had to shelve their career aspirations. 35% said this was due to money, 32% stated a lack of confidence, while 30% said economic instability was the reason they were no longer pursuing their ideal profession.

The ’dream job’ itself, according to 64% of the respondents was one that makes them happy. 60% said this was something they enjoy and for 48% it was financial security. Lower down on the priority list, only 10% said working part time and 24% said working remotely would provide overarching appeal to a job. A mere 7% of those surveyed said they were already in their dream role.

Despite being able to name the characteristic of a dream job, a majority 60% of those surveyed had found that financial urgency and practicality had meant prioritising ‘a’ job over an ideal job. A sizeable 40% of respondents have also changed their career plans in the past year – in two years even long-term aspirations had been lowered for 57% of the study. 57% said this was due to the current economy and 39% stated mental health as the driving force. Half of respondents said they have no career strategy beyond the next six months.

While expectations may have lowered for work, overall, it was clear from the study that the millennial and GenZ generations have shifted priorities to other areas – maintaining good mental and physical health and living happily ever after were among the top answers for long term life goals.

Lindsey Wright, Head of Future Sectors at The Prince’s Trust cited the support offered by the charity and said, “In the current economic climate, young people are prioritising a job that provides financial stability, as the cost of living rises and long-term planning feels out of reach for so many.”

“This report shows that although aspirations and expectations are being lowered among this generation of young people, the dream job is not being abandoned but being redefined. It is absolutely crucial that we continue to support young people, particularly those who are already facing disadvantage, to achieve their potential.”

Emily Driscoll, Head of Data, Intelligence & Planning at LADBible Group, said, “This research offers an in depth look at how younger people are planning their careers, and the impact the cost-of-living crisis is having not only on the now but on young people’s futures and aspirations. We are proud to have partnered with The Prince’s Trust on this and to shine a light on the barriers facing young people, and to highlight what support is on offer.”