$588,000 salary and $9 million net worth - that's what Gen Z considers "successful" today. But their grandparents? They think $100,000 is plenty.
As we discussed on a recent episode of The Accounting Podcast, the generation gap in financial expectations is huge, and it has big implications for our profession.
Your average CPA earns around $120,000. By Boomer standards, that's "made it" territory. But Gen Z accountants won't be happy until they make partner. And that's going to take way too long.
No wonder retiring partners can't understand why young accountants aren't satisfied with traditional career paths.
Here's another stat that got me thinking: only 59% of Americans rate happiness as their top success indicator. Would you take a billion dollars if it meant guaranteed unhappiness? I wouldn't.
Some more interesting stats from the survey:
84% believe hard work leads to success
35% prioritize free time for personal passions
27% consider wealth the highest measure of success
Only 47% believe they'll achieve their desired success level
Read the full story on CFO: “Most Americans say a salary of $270K deems financial success”
