Globally, while young adults are still concerned about finances, they’re increasingly unwilling to chase dollars at the expense of their physical and mental health
Gen Z and younger Millennials are prioritizing their physical and mental health over wealth and career success, finds a new study that surveyed young adults from across the world.
According to a new EY global study, 51% of young people rate their mental and/or physical health as an important measure of future success, which was the most common response given. Relationships with family came in second place at 45%, outpacing money (42%) and occupation/career (41%).
The implications of these findings are important for global governments and corporations, researchers believe.
“This is a wakeup call for societies that have long equated success with financial gain, material possessions and personal sacrifice,” the report’s authors stated.
Importantly, the shift in how young people view success seems to be a global phenomenon. Around 61% of Brazilians and 56% of Chinese young adults surveyed said physical/mental health was an important measure of success. Even in the hyper-capitalistic United States, 45% of young Americans identified physical/mental health as an important measure of success, which was the top response given.
Financial Success Takes on a New Meaning
The report notes that while today’s young people “remain deeply concerned about finances,” they tend to “seek more than just a paycheck.”
“Rather than searching for ‘work-life balance,’ they seek careers and jobs that support stable lives, rather than lives that revolve around their careers,” the report’s authors wrote.
Per the report, 69% of young people want to work for companies that align with their personal values, while 61% value employers that prioritize personal time.
Again, this shift is playing out on the global stage. Young people in China, for example, are widely rejecting the country’s infamous “996” work culture — working from 9 am to 9 pm six days per week — in favor of the new “lying flat” trend, according to EY.
Overall, while young people still value earning money, they tend to view financial success in different terms than making a ton of cash. In the U.S., for example, 88% of respondents said they view “financial independence” as very important, while only 48% of young Americans said “becoming rich” is very important to them.
The Wellness Shift Is Real
The EY report, which surveyed young adults between the ages of 18 and 34 in 10 countries across five continents, aligns with other research tracking the values of Gen Z and Millennials.
According to a 2023 study from healthy eating app Lifesum, 48% of Gen Z and Millennials said they’d quit their current job “tomorrow” in favor of one that better supports their wellness.
Gen Z and Millennials have also shown a willingness to spend a higher portion of their paychecks on wellness.
Recently, Bank of America analysts suggested that young adults are leading a “generational shift” in spending toward healthy habits, pointing to data showing that fitness spending is on the rise and bar/pub sales are trending down.
