Financial pressure is emerging as the defining force shaping how Gen Zs and millennials approach work, stability and the future, with more than half in both groups saying they have postponed major life decisions because of money, according to Deloitte’s Global 2026 Gen Z and Millennial Survey.
The survey finds that 55 per cent of Gen Z respondents and 52 per cent of millennials say they have delayed decisions such as marriage, starting a family or business, or pursuing further education due to their financial situation. Cost of living remains their top concern for the fifth consecutive year, cited by 38 per cent of Gen Zs and 42 per cent of millennials, far ahead of other worries such as crime, unemployment, climate change or geopolitics.
Deloitte describes these cohorts as the “maybe later” generations — ambitious and engaged, yet forced to resequence personal and professional milestones as financial realities dictate choices. Housing affordability plays a central role in these trade-offs. Sixty-nine per cent of Gen Zs and 64 per cent of millennials say housing availability or affordability directly affects their career decisions and where they can work, while 51 per cent of Gen Zs and 40 per cent of millennials say they cannot afford to own a house.
These pressures are not limited to long-term planning. Day-to-day financial concerns and anxiety about long-term financial futures are among the top contributors to stress for both groups. Forty-four per cent of Gen Zs and 39 per cent of millennials cite worries about their long-term financial future as a primary source of anxiety, followed closely by concerns about family health and everyday finances.
Despite this strain, there are signs of cautious optimism. Fifty-three per cent of Gen Zs and 45 per cent of millennials expect their personal financial situation to improve over the next 12 months, an increase from the previous year’s survey. This suggests that while financial vulnerability remains widespread, expectations of gradual recovery are growing.
The financial backdrop is also reshaping how younger workers think about careers. Rather than chasing rapid promotions or titles, 44 per cent of Gen Zs and 45 per cent of millennials say they prefer steady progress. Only around a quarter in each group favour fast-paced advancement marked by quick promotions. Many say they would accept lateral moves or even more junior titles if it helps secure long-term stability and balance.
For these generations, career progress is increasingly defined by work-life balance, financial independence and job stability rather than hierarchy. Only 6 per cent say achieving a leadership position is their primary career goal. Stress, burnout, excessive responsibility and lack of work-life balance are cited as key reasons for not prioritising leadership roles.
Workplace expectations are evolving in parallel. Nearly all respondents — 96 per cent of Gen Zs and 97 per cent of millennials — say having a sense of purpose at work is important to their job satisfaction and well-being. Around 40 per cent say they have rejected potential employers based on personal ethics or beliefs, while more than two-thirds feel their current roles enable them to make a meaningful contribution to society.
Social connection at work is also closely tied to retention and well-being. Sixty-nine per cent of Gen Zs and 67 per cent of millennials say they have at least one close personal friend at work. Among Gen Zs with close workplace friendships, 48 per cent plan to stay with their organisation for more than five years, compared with 33 per cent of those without such connections. For millennials, the gap is wider: 61 per cent versus 43 per cent.
Those with workplace friendships also report higher overall happiness. The share of Gen Z respondents who say they were happy with their lives over the past year rises from 52 per cent to 60 per cent when they have close friends at work. Among millennials, the figure increases from 55 per cent to 63 per cent.
Deloitte’s findings suggest that employers face a workforce whose priorities are being fundamentally reshaped by prolonged economic pressure. Financial strain is no longer a temporary disruption but a structural factor influencing when young adults marry, where they live, how they work and what they expect from employers.
As cost pressures persist, Gen Zs and millennials appear to be recalibrating timelines for life’s major milestones, seeking workplaces that offer not just income but stability, purpose and human connection as they navigate a future increasingly defined by financial caution. |
