Categories
Make Money From Home

15 Best-Paying Cities for Generation Z – Money Talks News

A StockStudio / Shutterstock.com

Editor’s Note: This story originally appeared on Self.

Generation Z — or Gen Z for short — is the generation succeeding millennials that represents about 20% of the U.S. population. The Bro…….

A StockStudio / Shutterstock.com

Editor’s Note: This story originally appeared on Self.

Generation Z — or Gen Z for short — is the generation succeeding millennials that represents about 20% of the U.S. population. The Brookings Institute’s definition of Gen Z is people born between 1997 and 2012, the oldest of whom are now just beginning their careers.

While members of Gen Z currently account for less than 5% of the U.S. full-time workforce, this number will increase rapidly in the coming decades.

Naturally, because the oldest Gen Zers are just starting out in their careers, they tend to earn less than their older counterparts. According to data from the U.S. Census Bureau, the national median wage for full-time Gen Zers was $26,000 in 2020, just slightly more than half of the median wage for all full-time workers ($50,000).

To determine the best-paying metropolitan areas for Gen Zers, researchers at Self Financial analyzed the latest data from the U.S. Census Bureau and the U.S. Bureau of Economic Analysis. You can read about our methodology at the end.

Following are the best-paying cities for members of Gen Z.

15. Minneapolis-St. Paul-Bloomington, MN-WI

Roger Siljander / Shutterstock.com

Median annual wage for full-time Gen Zers (adjusted): $30,236

Median annual wage for full-time Gen Zers (actual): $31,200

Median annual wage for all full-time workers (actual): $60,000

Cost of living (compared to average): +3.2%

Gen Z share of the labor force: 4.4%

14. Louisville/Jefferson County, KY-IN

f11photo / Shutterstock.com

Median annual wage for full-time Gen Zers (adjusted): $30,465

Median annual wage for full-time Gen Zers (actual): $28,000

Median annual wage for all full-time workers (actual): $50,000

Cost of living (compared to average): -8.1%

Gen Z share of the labor force: 5.4%

13. Lancaster, PA

George Sheldon / Shutterstock.com

Median annual wage for full-time Gen Zers (adjusted): $30,465

Median annual wage for full-time Gen Zers (actual): $30,000

Median annual wage for all full-time workers (actual): $50,000

Cost of living (compared to average): -1.5%

Gen Z share of the labor force: 8.1%

12. Springfield, MA

Sean Pavone / Shutterstock.com

Median annual wage for full-time Gen Zers (adjusted): $30,630

Median annual wage for full-time Gen Zers (actual): $30,000

Median annual wage for all full-time workers (actual): $54,000

Cost of living (compared to average): -2.1%

…….

Source: https://www.moneytalksnews.com/slideshows/15-best-paying-cities-for-generation-z/

Leave a Reply

Your email address will not be published.