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Despite shouldering record amounts of student debt and being less likely to own a home than older people were at the same age, millennials and Generation Z workers report slightly more satisfaction with pay than their parents’ generation.

A survey of 2,000 employees by The Conference Board, a business research group, finds that 46 percent of workers under 35 were happy with their compensation in 2018, up from 36 percent just a year earlier.

This is the first year in which young workers reported higher wage satisfaction than employees over 55. Compared with the 46 percent of millennials, 44 percent of baby boomers are satisfied with their pay. Meanwhile, the highest rate of satisfaction—48 percent—came from employees ages 35 to 54, most of whom would be described as Generation X.

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