Younger Australians rethink career success amid ongoing pressure and change

20 May 2026: Across Australian workplaces, the expectations and experiences of Gen Zs and millennials are coming into sharper focus. These generations are not just filling roles – they are influencing how career progress and success are defined, with clear implications for how organisations attract, retain and develop talent.

Now in its 15th year, Deloitte’s 2026 Gen Z and Millennial Survey shows a shift away from fast paced progression and towards more deliberate and sustainable career choices. These generations are prioritising stability and skills development, as financial security and the search for purposeful work play a growing role in career decisions.

Deloitte Australia Chief People and Purpose Officer Pip Dexter said: “What stands out this year is the level of realism coming through the data. Gen Zs and millennials are not disengaged from work or growth, but they are far clearer about what they are prepared to trade off. They are looking for careers that are sustainable over the long term, and they expect employers to meet them there with the right support, skills and pathways.”

Deloitte surveyed 22,595 respondents globally across 44 countries. This included 800 respondents in Australia: 500 Gen Zs and 300 millennials. Together, the findings highlight how financial pressure, purpose, technology and wellbeing are combining to reshape expectations of work in Australia.

Financial pressure remains the defining challenge

Economic pressure continues to shape both personal and professional decisions for younger Australians, acting as the backdrop against which most career choices are now made.

• Cost of living is the top concern for both Gen Zs (46%) and millennials (54%) in Australia. 
• Housing affordability is less likely to influence career decisions in Australia than globally (Gen Zs: 60% Australia vs. 69% globally; Millennials: 45% Australia vs. 64% globally). 
• More than half of Gen Zs (55%) and 45% of millennials say they have delayed major life decisions due to their financial situation.

Associate Director at Deloitte Access Economics Rhiannon Yetsenga said: “Younger Australians are making career decisions against a backdrop of persistent cost of living pressure and growing concern about their financial future. This is shaping when they enter the workforce, the roles they pursue, and their expectations around pay.” 

Careers on their terms

In response to this pressure, career ambition is increasingly being reframed. Rather than chasing advancement at all costs, Gen Zs and millennials are looking for work that aligns with their values, supports balance and offers leadership in sustainable ways.

• Almost all Gen Zs (98%) and millennials (99%) in Australia say purpose is important to job satisfaction and over 40% have rejected a potential employer due to values misalignment. 
• Maintaining work‑life balance is the top primary career goal for both, ahead of financial independence and leadership.
• 60% of Gen Zs and 70% of millennials say colleagues are personal friends, and those with close workplace friendships are more likely to stay with their employer longer.
• While 79% of Gen Zs and 75% of millennials are interested in leadership roles at some point, only 6% of each group say leadership is their primary career goal.
• Higher compensation is the strongest driver of leadership interest, followed by flexible work arrangements.
  • At the same time, a quarter say remote and hybrid work can hamper on‑the‑job learning, highlighting a growing tension between flexibility and development.
• Australians are more likely than global peers to already be in leadership roles (Gen Zs: 56% vs. 45% globally; millennials: 75% vs. 61%).

“Purpose is not a ‘nice to have’ for these generations. It is central to job satisfaction and plays a direct role in whether people stay, leave or even apply in the first place. When work lacks meaning or balance, younger generations are prepared to walk away,” Dexter said.

AI adoption is high, but employer support is lagging

Alongside shifting career expectations, technology continues to play a central role in shaping work. While enthusiasm for AI is strong, many across the two generations say organisational support is falling behind.

• Australian millennials are leading on AI adoption, with 82% using AI in their day‑to‑day work, eight points above the global average. Australian Gen Zs sit slightly below the global average at 70%.
• Only 37% of Gen Zs and 55% of millennials rate the AI tools provided by their employer as mostly or completely sufficient.
• Training gaps and limited experience remain key barriers to wider AI use.

“Young Australians are ready to embrace AI, with most viewing it positively across both their professional and personal lives. The challenge for employers was never adoption but keeping pace with how quickly young Australians expect AI to be embedded into everyday work” Yetsenga said.

Mental health is improving

Australian workplaces are showing stronger progress than many global counterparts, with young workers reporting greater confidence that their employers take mental health seriously and greater comfort speaking openly at work.

• Agreement that Australian employers take mental health seriously has risen from 72% to 81% for Gen Zs and from 71% to 77% for millennials between 2024 and 2026. Both sit well above the global average of 69%.
• Comfort speaking openly with a manager about mental health has continued to rise, reaching 82% for Gen Zs and 76% for millennials. This is 14 points and six points above the global average respectively.

“It is very encouraging to see Australian workplaces continuing to lead globally on mental health, with employees feeling more supported and comfortable speaking openly at work.” Dexter said.