A new LinkedIn Workforce Confidence survey analyzed how each generation feels about pay decreases in the workplace. Predictably, no generation was eager for a cut in wages, but there were caveats to this, including upward mobility. Nearly half of Gen Z workers said they would consider a pay cut if it meant they had a clearer path to promotions and job improvements. This was significantly less attractive to generations who are nearing the end of their careers or have already established their careers. Only 35% of Millennials, 31% of Gen X, and 16% of Baby Boomers agreed that a pay cut would be worth a boost to their career.
Additionally, flexibility was seen as a value-add for all generations of workers, but 38% of both Millennials, who are the most likely to be balancing the tasks of parenthood alongside their careers, and Gen Z, who are known for their eagerness for work-life balance and remote office hours, cited they would take a salary cut in exchange for more flexibility around where they work.
