Does Gen X Make More at Work Than Millennials or Gen Z Do?
Written by
Adam Palasciano
Edited by
Nicholas Morine
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The generational divide between Gen X, millennials, and Gen Z refers to how each generation thinks, lives, and does their work in broadest strokes. Most notably, how each generation approaches the concept of work seemingly also affects how much they earn.
Do Gen Xers (anyone born from 1965 to 1980, per USA Today) earn more than millennial (anyone born from 1981 to 1996) and Gen Z workers (anyone born from 1997 to 2012)? The answer is no. Both millenial and Gen Z workers are earning more on average than the typical Gen X worker.
Gig work and a rejection of the traditional working schedule have a lot to do with it.
Millennials and Gen Z Work Differently
Business Insider reported that millennials earn more money than any other generation at their age. However, they still hold less wealth than prior generations due to higher costs of living, recessions and student loan debt.
It indicated that millennial households at age 40 — the oldest of the generation — are earning $85,000. That’s more than Gen X earned at that age, $77,000, as well as boomers, who earned just $70,000.
One reason in particular that millennial and Gen Z workers are earning more than their older peers is that many are increasingly turning to gig work as a major source of income. This includes freelancing and rideshare driver jobs, which offer greater flexibility and unrestricted earning potential. A greater percentage of Gen Z (45%) and millennial workers (44%), Business Insider indicated, are making $2,500 or more a month in gig work when compared to Gen X and baby boomers in similar roles.
Older generations — including Gen X and baby boomers — are earning less than $1,000 per month via gig work in comparison. The reason? Older generations are less likely to rely on gig work as a primary source of income. It could be that Gen X’s more traditional employment mentality, including conforming to a 9-to-5 work schedule, is holding them back in terms of earning potential.
Gen Z Is Frustrated With Modern Work Culture
To add, some Gen Zers — like Piper Hansen who recently entered the workforce, as also detailed by Business Insider — are “shocked” by the 9-to-5 grind.
A continued rejection and desire to change traditional working arrangements may lead to more innovative ways to work, which could require a less rigorous work schedule and increased earnings for future generations.
Only time will tell.
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