Gen Z and Millennials: financial freedom more important than senior leadership ambitions

Gen Z and Millennials: financial freedom more important than senior leadership ambitions

• Only 4% of Gen Zs and 7% of Millennials in the UK say their primary career goal is to reach a senior leadership position;
• A fifth of Gen Zs (21%) and Millennials (18%) in the UK ranked financial independence as their top career goal;
• Nearly half of Gen Zs (49%) and 43% of Millennials in the UK say they feel stressed or anxious all or most of the time;
• GenAI cited as improving work for 71% of Gen Zs and 78% of Millennials in the UK.

While career growth and learning opportunities are top priorities for UK Gen Zs when selecting an employer, Deloitte's 2025 Gen Z and Millennial Survey* reveals that few aspire to senior leadership roles. Just 4% of Gen Zs and 7% of Millennials cite reaching the top as their primary career goal.

Now in its 14th year, the survey gathers insights from more than 23,000 Gen Z and Millennial respondents across 44 countries, including 814 from the UK.

Financial independence (21% of Gen Zs, 18% of Millennials) and work-life balance (18% of Gen Zs, 20% of Millennials) are the leading career goals for young UK workers, mirroring global trends (22% and 20% for financial independence; 17% and 20% for work-life balance, respectively).

Financial concerns cited among top reasons for stress and anxiety

Nearly half (49%) of Gen Zs and 43% of Millennials in the UK say they feel stressed or anxious all or most of the time, up slightly from last year's figures of 47% and 41% respectively. Of those who feel this way, 41% of UK Gen Zs and 35% of Millennials state long-term financial future as a reason, compared to 48% of Gen Zs and 45% of Millennials globally.

Day-to-day finances were given as a main reason for 40% of Gen Zs and 38% of Millennials who feel anxious or stressed. This was alongside family/personal relationships (41% Gen Z and 25% Millennials) and mental health concerns (38% Gen Zs and 25% Millennials).

Younger generations are seeking meaning at work

For UK Gen Zs and Millennials, a sense of purpose is overwhelmingly important for job satisfaction and wellbeing (88% and 92%, respectively). This emphasis on purpose translates into action, with a higher proportion of UK respondents having left a job due to a lack of it (52% of Gen Zs and 50% of Millennials) compared to their global counterparts (44% and 45%, respectively). UK Gen Zs and Millennials are less likely than their global counterparts to reject employers based on personal ethics and beliefs (35% and 32% vs. 41% and 40%, respectively).

Kate Sweeney, partner in human capital at Deloitte UK, said: “Gen Zs and Millennials are clear about their workplace priorities: they seek employers whose values align with their own. For most, career satisfaction isn't about climbing the traditional corporate ladder, which suggests a redefinition of success.

“To attract and retain Gen Z and Millennial talent, employers must adapt their leadership development and career progression models, offering more diverse and fulfilling options.”

The promise of Generative AI (GenAI)

When it comes to the workplace, three-quarters of respondents (71% of Gen Zs and 78% of Millennials) in the UK feel that GenAI has improved the quality of their work. 76% of Gen Zs and 72% of Millennials report that it frees up time and improves their work-life balance.

16% of Gen Zs and 20% of Millennials in the UK report that they have already completed GenAI training (compared to 17% and 19% globally). Of those who have not, 32% and 33% respectively said they plan to complete it within the next 12 months, compared to 36% and 37% of respondents globally.

While Gen Z in the UK lags slightly behind their global peers in daily GenAI use (50% in the UK vs. 57% globally), UK Millennials match the global average at 56%.

Sweeney added: “Both generations view Generative AI as a powerful tool with the potential to reshape the workplace, a perspective underscored by their clear desire to acquire relevant skills. This presents a crucial opportunity for employers to invest in AI training programmes, not only to meet the evolving demands of the workplace, but to encourage continuous learning.”

-ENDS-

Notes to editors

To learn more about the Deloitte Global 2025 Gen Z and Millennial Survey, please visit: www.deloitte.com/genzmillennialsurvey

Methodology

*The 2025 Gen Z and millennial Survey solicited the views of 14,751 Gen Zs and 8,731 millennials (23,482 respondents in total), from 44 countries across North America, Latin America, Western Europe, Eastern Europe, the Middle East, Africa, and Asia-Pacific. Fieldwork was completed between 25 October 2024 and 24 December 2024. There were a total of 814 respondents in the UK: 504 Gen Zs and 310 millennials.

As defined in the study, Gen Z respondents were born between January 1995 and December 2006, and Millennial respondents were born between January 1983 and December 1994.