By Kirstie McDermott
Gen Z was born between 1997 and 2012, which means that this year, the oldest members will turn 27. While still relatively young by most standards, this generation is expected to account for 27% of the total workforce by 2025.
Right now, the workforce is more age-diverse than it has ever been with baby boomers, Generation X, Millennials and Generation Z all working together. That's a great way to shine a light on the differences between the generations, both in attitudes and workstyles.
Deloitte's most recent Gen Z and Millennial survey identified that nearly half of Gen Z along with the majority of millennials say that their job is central to their sense of identity. But where Millennials value meaningful work, Gen Z wants money. In fact, 70% prioritize salary as a top benefit they want from their next job.
Additionally, 72% will consider leaving a job if their employer won't offer flexible working.
Gen X, the oldest of whom are turning 59 this year, grew up with minimal adult supervision. This taught them the value of independence, which has influenced their working lives. According to Indeed, "They also appreciate informality, are technologically adept, flexible and highly educated."
Finance now the most attractive career
There are other ways in which the youngest working cohort, Gen Z, differs from their older colleagues.
One of the starkest differences is that in a recent survey of graduates, finance comes out on top as the most desirable career. It has replaced healthcare and medicine as the top-ranked profession in terms of career prospects.
In 2021, finance only ranked fifth, and has now leapfrogged up the list, also surpassing STEM and tech careers. Young entrants to the job world perceive it as the most stable career post-pandemic, and finance is regarded as one of the top degrees for finding a career.
The pandemic itself may be partly responsible for this shift in perception with 47% saying Covid-19 permanently impacted their career prospects, and it also caused more than two-fifths of graduates to reassess their career paths.
Layoffs, which have proliferated since mid-2022, may have an impact too. While there were thousands of jobs cut across banks such as JP Morgan Chase, Citi and Wells Fargo, many more roles were lost across tech companies, and these were often more negatively publicized.
But no matter what generation you fall into, a new job can offer better opportunities, pay and benefits. If you're in the market for a challenge this year, then the American Banker Job Board is worth a bookmark.
It contains thousands of finance and banking roles all across the country, such as the three below.
Risk Manager - Customer Oversight (Payments), Plaid, San Francisco
Plaid is seeking a Risk Manager to lead a team that performs customer application reviews, and transaction analysis for possible suspicious activities to ensure compliance with the Bank Secrecy Act, the USA Patriot Act, and the Office of Foreign Assets & Control. This team member will develop, own, and execute against, the operational Customer Oversight roadmap for the U.S. Payments business. You will need seven or more years' of experience (three years as a people manager) in financial services, preferably with a major payments company, fintech, or a US bank, with operational exposure to ACH payments, fraud and abuse mitigation, chargebacks, sanctions screening, BSA/AML compliance, KYC, and KYB. Get all the details now.
Risk Remediation Officer, Comerica Bank, Dallas
As Risk Remediation Officer at Comerica Bank, you'll manage the maintenance and implementation of the control testing standards with a focus on associated risk governance and risk training, and will perform issue coordinator responsibilities for the enterprise risk division. You will ensure standards are well documented, aligned with regulatory expectations and industry standards, and will support the risk assessment and management activities across all risks and controls of the organization. Plus, you'll identify opportunities for improved alignment with the ERM Framework supporting all lines of defense, and work with those business units to achieve compliance. You'll require a Bachelor's Degree as well as seven years' of progressive experience in performing high level risk assessment, particularly as it applies to the financial services industry. See all the details.
VP Private Banking, Virginia Beach, Dollar Bank, Virginia Beach
As Vice President of Lending at Dollar Bank, you will have the chance to create and manage a diverse portfolio of loans and deposit products delivering exceptional financial solutions tailored to each individual's unique needs. You will work closely with a team of financial experts to provide top-notch service and make a lasting impact on your clients' financial futures. This role requires a sharp eye for detail and a passion for delivering excellent client experiences and you'll need a Bachelor's degree in finance or related field, or commensurate experience, as well as five years' of lending experience in private banking, consumer lending, mortgage origination, business banking, or commercial lending with a demonstrated history of sourcing new business opportunities. See all the requirements.
Find your next fulfilling job today on the American Banker Job Board
