CEO says Gen Z ‘are not going to be as well off’ as boomers, Gen Xers: 'Nobody cares...'

Gen Z’s money troubles are getting worse as many borrow more just to get by, especially with high interest rates and slow wage growth, reports have found. (AI-generated image)

An American CEO has warned that Gen Z is likely to be financially worse off than baby boomers and Gen X, pointing to flat wages, rising prices, and a tough job market. USAA's Juan C Andrade told Fortune that young workers today are dealing with challenges older generations never had to face.

“I think, unfortunately, our Gen Z’s are not going to be as well off as our boomers and Gen Xers were, for different reasons,” he told the publication. “You definitely see it among the Gen Z generation, both active duty as well as associate members [and] family.”

He said young people are dealing with problems that earlier generations “didn’t have to contend with”, including low starting salaries and more competition for entry‑level jobs.

A 2025 Bloomberg analysis found that inflation‑adjusted salaries for working‑age graduates in the UK are now 30 percent lower than they were 15 years ago. A Kickresume study showed that 58 percent of recent graduates were still looking for their first job—compared with 25 percent in previous generations.

Limited financial literacy is worsening the problem

Gen Z’s money troubles are getting worse as many borrow more just to get by, especially with high interest rates and slow wage growth. They also saw the biggest yearly drop in credit health of any age group since 2020, with their average credit score falling to 676—39 points below the national average. Andrade said that many young workers lack financial experience, making it harder for them to manage rising costs and increasingly digital financial systems.

AI disruption and fewer entry‑level jobs

AI is making it harder for young people to enter the workforce by replacing or reshaping many beginner‑level tasks. Andrade said that Gen Z workers at USAA, both active‑duty and associate members, are facing a “tough” reality as traditional career paths become less predictable.

With these challenges piling up, he urged young workers to take responsibility for their own progress. “Nobody cares more about your career than you do,” he said.