Are Millennials And Gen X Rethinking Their Career Choices? Survey Reveals Burnout, Financial Concerns

A new survey by SEEK has revealed that more than half of Millennial and Gen X employees regret their career choices, with financial struggles being the top reason for dissatisfaction.

Top reason for regret

SEEK, an ASX-listed company, surveyed 3,033 working Australians and found that financial struggles were the main reason for career regret. The survey revealed that 54% of Millennials, 57% of Gen X workers, 52% of Baby Boomers, and 40% of Gen Z workers regretted their career decisions.

Among those who expressed regret, 47% said they did not earn enough money. Furthermore, 30% mentioned their interests and passions had changed, 28% found their jobs unfulfilling, and 26% were unhappy with their work-life balance, News AU reported.

Burnout and salary growth

As Australian workers anticipate longer careers, the new report explored their biggest concerns about the future of work. Many of these concerns align with the reasons for career regret. The top worries include:

• Burnout – 35%
• Slow or no salary growth – 32%
• Poor work-life balance – 26%
• Working longer to stay financially stable – 24%
• Physical ability to keep working – 19%

Gen Z is the most concerned about these issues, especially burnout, with 52% citing it as a major worry. Moreover, 20% of Gen Z workers feel stressed about having a job that does not give them a sense of purpose.

Are Australians rethinking career choices?

Leigh Broderick, SEEK's Head of Market Data, commented on this survey, saying, "It is understandable that with many of us living and working longer than ever before, many Australians may be rethinking their current career."

"What we found particularly interesting in the Evolving Working Life Report was the mismatch between so many workers believing that they would be working into their 70s, yet many believing it was too late to make a change, even the younger generations!"

Broderick went on to share that many workers experience doubts about their career choices, but changing paths does not have to be overwhelming. There are small steps they can take to build new skills or prepare for a future career shift.

Providing support and guidance can help Australians feel more confident in making career changes, whether big or small, at any stage of their journey. The goal is to ensure longer working lives remain both sustainable and fulfilling.