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India – Generation Z professionals start out better in jobs market than Generation Y

10 May 2016

According to a new survey by JobBuzz.in, India's employee engagement & employer rating platform, Generation Z professionals have a better experience in their first jobs compared to Generation Y professionals.

The survey of 912 Gen Z and Y employees reveals that 49% of Generation Z workforce got their first job in less than 2 months as compared to 38% Gen Y candidates. The majority, or 45%, of Generation Y'ers took an average 3-6 months to land their first job which shows that the job market has improved significantly for freshers.

However, nearly 16% of Generation Z candidates took about a year to start their first job while only 14% Generation Y took this long – showing a preference for carefully evaluating job suitability prior to joining. In fact, nearly 2% Generation Z respondents claimed they are still unemployed and on the lookout for suitable opportunities in the jobs market.

"Gen Z jobseekers are far more informed and careful while choosing their first jobs – they have a host of tools and platforms available to them to evaluate job and organization suitability,” Nilanjan Roy, Head of Strategy, Times Business Solutions, said. “They are also quick to jump to another opportunity if they are not fully engaged - not just for more money but more so for challenging, exciting work and greater responsibilities."

On the most significant aspects of choosing their first job, Generation Y (37%) and Generation Z (44%) both laid major emphasis on salary.

Despite the clear emphasis on pay by both workforce generations, nearly 40% of Generation Y and 58% of Generation Z respondents did not negotiate their salaries during their first jobs. Furthermore, 55% Generation Y and 53% Generation Z candidates weren’t satisfied with their first drawn salaries.

Most (36%) Generation Y candidate’s first drawn salary was in the range of INR 200,000-300,000 (USD 3,001-4,502) per annum while 42% of Generation Z earned INR 300,000-500,000 (USD 4,502-7,504) per annum in their first job. In addition, none of the Generation Y candidates got a package of more than INR (USD 15,008) per annum but about 10% Generation Z did manage to land a job with heftier packages.

Generation Y'ers laid greater emphasis on the job role, and they were more satisfied with the role offered, claimed 61% Generation Y respondents. About 10% of Generation Y professionals are still continuing with their first employer.

On the other hand, 57% of Gen Z respondents stated they were satisfied with their first job roles but just 3% Gen Zers said they were still with their first employers.

Nearly 45% Gen Y and 58% Gen Z candidates left their first job within 2-3 years. When asked why they left, over 50% of both Gen Y and gen Z said the reason was better package. This is followed by better growth opportunity (Gen Y – 42%, Gen Z – 46%).

On asking the reason to continue in the same job, 57% of Gen Z professionals said it was the case of getting challenging, enticing work and more responsibilities. Nearly 50% Generation Y'ers said they were getting good appraisals and increments that made them stay put with their first employer.

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