Gen X, Y and Z all eyeing money


Gen X, Y and Z all eyeing money

BY ADRIAN CHAN

KUALA LUMPUR: Generation Z may be a socially conscious group but like previous generations, most still cite monetary wealth as the best indicator of success.

Nearly one-third (31%) of the respondents in a survey wanted to be entrepreneurs with another 37% hoping to turn their hobbies into money-making enterprises.

This generation is also found to prefer venturing into business rather than holding traditional day jobs.

INTI International University & Colleges CEO Rohit Sharma said Generation Z did not want to wait long to choose a job which they enjoy.

“They want to do it now. Not only do they want to chart their own course, they have a keen sense of what it needs to succeed,” he said.

These were the results from a study by INTI International University & Colleges, along with Ipsos, which was held in November last year.

Drawn from a sample of 511 participants aged between six and 20, it was found that 75% of them regard a successful person as someone who earns a high salary.

Close contenders with amassing wealth is being happy with who they are (69%), being in good health (69%) and being able to enjoy their career (60%).

Sharma said money had always been the top priority since the Baby Boomer generation.

“But for me, the key insight here is that the other factors are moving to be almost equally as important as monetary measures,” he told a press conference yesterday.

Being described as a “hyper-connected” generation, the group being studied reported spending an average of eight hours a day online, with 41% feeling incomplete when not connected. The survey showed 28% of Generation Z respondents want to be in causes that contribute to the well-being of society.

“This is a generation that believes that it has a duty to help others. They feel they have an obligation to society at large,” he said.

Ruby Wong Chui Yee, 19, who was one of the Generation Z panelists, confessed to using digital devices 80% to 90% of her waking hours.

“When I wake up every day, I will check Facebook for news and watch some YouTube videos. I only get out of bed after that,” said the pre-university student at INTI.

Wong explained that she feels the need to be connected as she craves for information updates.

Moh Shu Jenn, 17, from SMK Convent Bukit Nanas, felt that it is not necessarily a bad thing to be online all the time.

“There is a need for me to be hyper-connected. When I don’t understand what the teacher is explaining, I will Google it,” said the Form Five student who actively uses online learning websites to help her in her homework.

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