Is Gen Z Relying Too Much on the Influencer Economy?

Gen Z, the generation grappling with financial pressures exacerbated by economic uncertainty, is forging paths toward financial independence and entrepreneurial ventures at unprecedented rates. With half of Gen Z living paycheck-to-paycheck, according to Forbes, traditional milestones like homeownership and marriage are often deferred as financial stability remains elusive.

Due to this many people in Gen Z have turned to alternative career paths. Much of the generation believes entrepreneurship and becoming an “influencer” will bring more financial independence, than standard 9-to-5 jobs. These are a few ways New York City-based Matt Marino, a 27-year-old teacher, believes his generation faces “exponentially greater” financial hardships than previous ones. 

“I think maybe for (older generations), they focused more on … having a job where you can have good money, support yourself, support your family, and even have more leftover or plan for the future for retirement. Making money is a little different now for me and my generation, we have to find new and creative ways to become financially independent,” said Marino.

Because of this, CNBC reports that 50% of Gen Z aspire to become entrepreneurs or start their businesses, a stark contrast to previous generations’ pursuit of stable jobs and traditional education paths. This includes Alexis Barber, an influencer, founder, and Wharton MBA student living in New York City. She documents life, and how she is building her own wellness company, Too Collective on social media platforms such as TikTok, Youtube and Instagram. 

The digital age has democratized knowledge, empowering Gen Z with resources that were previously inaccessible. Instead of spending hours searching through books or long news articles, one 60-second TikTok can direct you to the best career opportunities in a certain specialty. ZenBusiness revealed that 69% of Gen Z entrepreneurs learn about business through self-directed research and tutorials on social media. 

“Much of the career advice on TikTok echoes the tips shared in podcasts, YouTube videos, and LinkedIn thought pieces. It’s just the aesthetics and format that are different — and more appealing — to Gen Z,” according to CNBC reporter Morgan Smith.

Social media, once a leisure activity, has transformed into a lucrative career path for many Gen Zers. With 84% viewing “creator” as an accessible job and 78% considering entrepreneurship feasible, the rise of content creation as a profession is reshaping industries. Sarah Lee graduated from Toronto Metropolitan University (TMU) in 2021 with a degree in business management, and has now become a TikTok influencer, she said. 

“For some reason, my first four videos with my parents blew up and got millions of views, and then all of a sudden I had this platform,” Lee said. I was able to leave my previous job [for] something I really enjoy. I have a passion for social media,” Lee said.

Despite economic challenges, Gen Z’s entrepreneurial zeal is driving innovation and reshaping the workplace. They are turning social media into a viable career path. Carrie Kerpen the co-founder and CEO of Likeable Media, wrote, “As a CEO of a full-service social media agency, I believe strongly that there are key areas within social media upon which you may build a career. These areas will survive the emergence and dissipation of networks, tools, and philosophies. So, if you’re a recent 20-something, know a recent 20-something, or even just have an interest in making a career change — I’d look at these areas to withstand the test of time.” 

Leah Mordehai (she/her) is from San Francisco and is a youth journalist. 

Edited by Nykeya Woods