Which of the illusive generations will it be?
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Workers under the age of 35 are satisfied with their compensation more than any other age group active in the labour force, data from business research firm The Conference Board revealed.
Millennial and Generation Z workers were reportedly happier with their pay in 2018 (46%) than they were a year before (36%). The mood reflects 2018’s wage growth, according to federal data.
Younger employees – whose careers are still budding – tend to shift gears by changing employers, positions or career tracks more often than their older colleagues do. These shifts sometimes offer better pay for Millennial and Gen Z workers.
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Differences in job satisfaction
All in all, however, the percentage of working Americans who were said to be satisfied with their compensation increased slightly from 43% in 2017 to 46.4% in 2018. More than half (54%) claimed to be satisfied with their jobs overall.
As the unemployment rate remains low, more people have expressed greater confidence in their job security, from 53.8% in 2017 to 59.2% in 2018.
Men and women, however, continue to experience job satisfaction in different ways. Men cited compensation, bonuses and promotions as vital to their happiness at work. On the other hand, women valued their commute, performance reviews and office environment as a requirement at work, the report said.
Overall, workers were most satisfied with the following:
- Commute to work (60%)
- People at work (60%)
- Interest in work (59.9%)
- Physical environment (59.3%)
- Job security (59.2%)
In contrast, they were least satisfied with the following:
- Recognition (36.9%)
- Educational/job training (35.9%)
- Performance reviews (32.9%)
- Promotion policy (30.7%)
- Bonus plan (29.0%)