Recently, a story about Gen Z believing they need nearly $600K a year to be “financially successful” created a flurry of shocked headlines about the generation. Some of these stories pushed the idea that young people are completely out of touch with reality. But YPulse data tells a different story—one that shows young Americans’ expectations for success aren’t nearly as sky high as some say.
In YPulse’s Employment and Career Goals report, we also ask young people (13-39-years-old) how much money they think they need to earn annually to make them feel financially successful. And in our data, their answers reveal a much more grounded perspective than those viral headlines suggested. In reality, their definition of success isn’t drastically different from previous gens:
Most young people define success far under six figures
When it comes to what “financial success” looks like, young people are actually pretty practical. On average, 13-39-year-olds say $64K a year is enough to feel financially successful. Our data shows teens aim higher, thinking they’d need an average of $75K a year—and while that’s the highest among these gens, it’s still markedly lower than others have said. This gap in expectations is likely due to the fact they’re not yet financially independent and don’t fully understand exactly what budgeting will look like when they are
But what’s likely most surprising is that 20-29-year-olds have the lowest threshold for financial success, naming $58K on average to feel successful. This group, who are just starting their careers, are likely focused on finding salaries that simply get them by with a bit of comfort. And even among older Millennials, the number doesn’t jump drastically, as 30-39-year-olds think $63K would represent financial success.
Interestingly, there’s a gap between how young men and women define financial success. Young males say they’d need $70K a year to feel successful, while young females estimate it would take only $59K. The gap isn’t just about perception—it’s rooted in the gender pay gap that’s been around for generations, where men are historically paid more than women. This not only affects what young women earn even now, but how they’re setting their expectations for success.
They’re being realistic about their finances
With the rising costs of living, mounting student loan debt, and stagnant wages, young people today have a more grounded outlook on wealth—because they have to. The traditional idea of being “rich” feels increasingly out of reach, and 18% of 13-39-year-olds believe they’ll be worse off than their parents. Unlike previous gens who may have set their sights on high salaries and wealth accumulation, many young people today are simply aiming for stability.
Rather than chasing massive salaries, young people are focused on financial independence first—which can feel like a success of its own. YPulse’s Life Milestones report shows when asked which milestones they expected to have achieved by now but haven’t, “becoming financially independent” ranked as the second top response for those in their 20s and first for those in their 30s. That’s because, for many, success isn’t about luxury—it’s about simply having enough to stand on their own.
Young people value more than just big paychecks
Make no mistake—young people still care about making a livable wage. But when it comes to defining success, they’re looking beyond just the paycheck. YPulse’s Life Milestones report shows that “becoming rich” isn’t a top priority for most young people, ranking seventh for 13-19-year-olds, eighth for 20-29-year-olds, seventh for 30-39-year-olds. Instead, they’re prioritizing things like personal fulfillment, mental well-being, and work-life balance. YPulse data shows that “having a job I enjoy,” “having a job that supports my mental health,” and “having a job that gives me a good work/life balance” all rank as more important than ‘having a high-paying job” for 13-39-year-olds. Because career satisfaction matters more to them than just chasing a big salary, they’re willing to redefine what financial success looks like—even if it means earning less.
