Money

How much money Gen Z workers earn in every state

Gen Z workers make up about 12.6% of the workforce as of 2020, according to the latest data from the Bureau of Labor Statistics, and typically earn about $32,500 annually, according to an August analysis by GoBankingRates.

GoBankingRates analyzed the median hourly, weekly and annual earnings of 16 to 24-year-olds to determine how much Gen Z workers earn across the U.S. Since the median reflects the midpoint, about half of Gen Z workers earn more than this amount and half earn less.

Gen Z’s economic power is the fastest growing across all of the generational cohorts, according to a 2020 Bank of America survey reported by CNBC. As they continue to enter the workforce, their income is predicted to increase fivefold to $33 trillion by 2030 and surpass millennials’ income by 2031.

Here is the median amount Gen Z workers earn in every state.

As the map shows, income tends to vary by location. States with high costs of living, such as New York, typically tend to pay higher wages than states with lower costs of living, such as Kentucky.

However, many Gen Z workers are forgoing living in costly big cities and opting instead to live in fast growing suburbs, an August survey by Glassdoor found.

Glassdoor ranked Scottsdale, Arizona, which is about 30 minutes from Phoenix, as the top city for Gen Z to work in.

Meanwhile, New York ranked 18th on the list, and Los Angeles ranked even lower at 45th.

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