Gen Z generation most open about earnings – Saltus

As part of its ‘Wealth Index Report’, Saltus asked 2,000 UK adults with assets of £250,000-plus or more about how open they are about what they earn, and found Generation Z was much more likely to discuss money than Millennials, Gen X or Boomers.

Under-25s were found to be twice as likely to be open with friends about their salary than Boomers, with 37% saying they know what their close friends earn and 35% saying they have shared their own earnings with friends.

In comparison, just 19% of over-55s said they know what their friends earn, and vice versa.

Half of 18 to 24-year-olds had told their partner what they earn, compared to just 27% of people aged 25 and over. 

One in three (31%) under-25s said ‘my partner and I share all of our money’ compared with just 16% of 25 to 34s, 19% of 35 to 44s, and 26% of those aged 45-plus.

18% of Baby Boomers said that they and their partner have ‘completely separate money’, compared to just 9% of under-25s.

Megan Jenkins, chartered financial planner and Partner at Saltus, said: “The openness of younger generations when it comes to discussing money is a real cultural shift.

“This is likely to have been fuelled by a number of factors, including social media, economic pressures and a drive for fairness.