Key Study Findings
Who Is Gen Z?
In keeping with ongoing trends of increasing racial and ethnic diversity in the U.S. population, Gen Z is the most demographically diverse generation yet: 49% of Gen Zers identify as white compared to 56% of millennials, 61% of Gen Xers, and 72% of baby boomers. Among those who identify as non-white, the largest group is Hispanic with 26%, followed by 15% identifying as Black.3
With many studies saying more jobs than ever will require education beyond the high school level by 2031, more than 80% of Gen Zers also say a college education is very or fairly important; that said, only 62% of Gen Zers who graduate high school head to college, which may suggest some uncertainty regarding the future necessity of higher education.4
Gen Zers consider finance their top industry choice — positioning firms to tap into this interest as they work to address the industry’s looming talent gap.5 Our study’s findings confirm Gen Z’s heightened interest in financial services, especially among certain demographic groups.
1Cerulli Associates. Taking Control: Exploring Independence. 2022.
2U.S. Bureau of Labor Statistics. Occupational Outlook Handbook. 2023.
3PRRI. Generation Z Fact Sheet. 2024.
4Lumina Foundation. Gen Z Students are Optimistic About Higher Education — Let’s Prove Them Right. 2025.
5CFA Institute. Graduate Outlook Survey. 2023.
Gen Zers consider finance their top industry choice.
What Does Gen Z Want From Financial Services?
While most Gen Zers report positive experiences in financial services, a significant portion feel they’re not getting what they need from their employers:
1 in 3
Gen Zers feel their workplace onboarding is ineffective
1 in 4
Gen Zers feel their workplace training is ineffective
1 in 4
Gen Zers feel job expectations are unclear
Gen Zers who have financial services education and experience report better access and preparedness, with certifications and internships adding an additional boost.
As for their career expectations and motivations, the respondents identified clear priorities that help explain their approach to entering the industry.
Gen Z values:
Opportunities for advancement and mobility: 1 in 3 aims for a managerial role within five years, and half aim for executive roles within 10 years.
Flexibility and transparency in the workplace: open, transparent communication is essential in the workplace according to 47% of Gen Z, and communication gaps can be a major barrier (33%). Gen Z also values flexible work arrangements, with 63% of respondents preferring hybrid or fully remote roles.
Competitive pay: 45% of Gen Z say competitive pay is their top motivator, and a third will jump for a pay bump. The longer Gen Zers stay in financial services, the more likely they are to job hop for better pay or benefits.
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The American College of Financial Services is committed to equal access to its educational programs, facilities, and employment for all persons, regardless of race, color, sex, disability, age, religion, national or ethnic origin, or any other protections afforded by applicable laws. Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP® (with plaque design) and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements.
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