The Class of 2024 Embraces AI, Tempers Salary Expectations and Expands Their Career Horizons, as they Face a Cost-of-Living Crisis and Continued Uncertainty

New iCIMS research reveals Gen Z’s expectations and employer wish list, with advice to help organisations attract, hire and retain entry-level talent 

London [17 July] – Born at the turn of a millennium, Gen Z has grown up in a technological revolution – they embrace modern technology and expect systems that work. With information available at their fingertips, it takes a lot to woo this year’s graduates. iCIMS, a leading provider of talent acquisition (TA) technology, today launched the annual iCIMS UK Class of 2024 Report, which serves as a guidepost for organisations hiring Gen Z talent. Informed by a survey of more than 1,000 UK-based final-year university students, the new report examines Gen Z’s expectations and preferences as they enter the workforce, including salary expectations, employer “must-haves,” long-term intentions and alternative options.  

“While this class has been craving stability, they aren’t sold yet, as the majority are concerned about landing a job out of university,” said Rhea Moss, head of global workforce and customer insights, iCIMS. “Employers should heed their hesitation as a call-to-action to not only build more trust with entry-level talent but create experiences that keep them engaged before and after they’re hired.” 

The Class of 2024’s Labour Market Outlook and Wish List 

• Salary expectations temper as uncertainty looms. With rising inflation rates and a cost-of-living crisis, this generation is feeling the economic uncertainty. Recent grads in the UK are keeping their salary expectations tempered, as one fifth (20%) of the Class of 2024 say they expect their first full-time job after university to pay between £25,000 and £30,000 annually, while 16% say they expect between £20,000 and £25,000. This is lower than last year with 26% of the Class of 2023 expecting up to £30,000. Most (83%) of the Class of 2024 said they are concerned about landing a job out of university.  

• They’re chasing more than money. They are switching their attention to long-term benefits that will secure their future – and the flashy perks that may have drawn in entry-level talent in the past are no longer dominating recent graduates’ employer wish lists. Over half (51%) rank opportunities for growth or advancement in their top three criteria to consider other than salary when applying to a position, while 47% rank company stability and job security in their top three.  

• An easy, transparent application process is appreciated. This generation values efficiency and opportunities that offer clear pathways for advancement. Companies that proactively share salary ranges for open roles will better compete for this new crop of talent, as 60% surveyed say this would make them more likely to apply to a job. Forty-five percent say a quick and easy application, such as text message or one-click apply, would make them more inclined to apply for a job. Almost half (49%) of UK grads expect the entire process – from application to offer – to take 1-2 months.  

• The demand for speed extends beyond employers’ response times. Many young workers in the UK are looking to AI to expedite their applications and ease the burden of lengthy recruiting processes. An overwhelming 79% of graduates say they have considered using AI to aid the job application and interview process. Thirty-eight percent of grads have considered using AI to proofread their CV or cover letter, and 35% have considered the tech for CV writing while others have considered it for interview prep (32%).  

• They have a plan B in their back pocket. The newest members of the workforce are open to doing what is necessary to find financial security. Over a third (34%) say they will be applying to more job roles to increase their chances of landing a job. Meanwhile, 30% say they are applying to a wider variety of industries and job roles, 26% are open to taking an hourly job and 25% are considering taking a job unrelated to their degree. 

“Ease, personalisation and speed of the candidate and hiring experience is key with younger talent, and TA teams can do so with a delicate balance of automation and high-quality human interaction,” said Matt Alder, producer and host of The Recruiting Future Podcast. “iCIMS’ new report underscores the expectations of today’s entry-level talent: the option to apply via text or one-click, AI job matching and assistance, pay transparency, company stability and long-term career growth with their first employer, to name a few. Organisations can use this information to their advantage to better attract, engage, hire and retain this generation of workers.” 

Talent leaders who are ramping up early career hiring can download the iCIMS UK Class of 2024 Report for more insight and advice for Gen Z hiring. Register for iCIMS’ webinar on 31 July to learn how to take these insights to better attract, hire and retain entry-level talent.