CURATED READS FOR GEN Z—AND THEIR Z-CURIOUS COLLEAGUES

first up

Welcome back! This week, we’re exploring how being a risk-taker can help you level up.

Is Gen Z generally willing to take risks or is it risk averse? It’s hard to tell because there’s limited survey data on the topic. Some data found in the far corners of the interwebs suggest that Gen Z is more risk averse when it comes to investing. But it’s a little tough to square that in the age of meme stocks. McKinsey’s own research says that Gen Zers are more pragmatic than millennials, which could translate to being risk averse.

Whatever Gen Zers’ appetite for risk is, it’s actually super important for them to take risks early on in their careers. It’s one of the keys to leveling up: stretch roles—jobs that require new skills that you didn’t have in your last job—help push people to be “upwardly mobile,” say McKinsey partner Anu Madgavkar and colleagues. The boldness of your early-career decisions can change the trajectory of your career later—not in small ways, either. Being a calculated risk-taker can mean moving up one, two, or even three income brackets higher over your lifetime. Plus, taking the plunge fits with the oft-prescribed ethos of bringing main-character energy to everything you do. 

And while it might seem like some people are just inherently better at playing this game, risk-taking is really more like a muscle you can exercise. When you take a risk and it pays off, you’re more likely (neurologically) to do it again. And even if it doesn’t pay off the way you’d hoped, you can learn from the risk you took to do better next time. ReSiLiEnCe, as they say.   

Taking risks can also be encouraged at work. If your company creates an environment in which risk-taking gets the thumbs-up from the boss, employees are more likely to do all kinds of things that look really good on a performance review. That might mean applying for an open role or taking on a new kind of project or finding ways to learn new skills that you don’t really need as part of your current responsibilities—but you would need to know in the next level up. (Need a little inspo? This series features McKinsey leaders reflecting on some of their defining moments at the firm, many of which illustrate how taking risks paid off for them.) By the way, if you’re job searching, ask your interviewer: Does this company encourage risk-taking, and if so, how?

As we explained last week, mentors can help you figure out how and when to make big, bold moves. And remember, taking risks doesn’t mean being impulsive or fearless; it means being mindful and positioning yourself in the best way to walk through the proverbial door of opportunity when it opens.

In short: let’s get this bread. Obtain the grain. Risk it for the biscuit.

VISUALIZE IT

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NOT US; STILL GREAT

Big law losing its luster? Gen Z law students and early-career attorneys say they aren’t as interested in joining a large law firm, citing different values and a desire for flexible hours. [FT]

Pure camp. The Eurovision music competition, with its campy performances that signal a message of inclusivity, is a Gen Z favorite. Fifty-six percent of the TV audience for last year’s finale were aged between 15 and 24—four times higher than average for the age group. [BBC]

CROSSWORD

— Edited by Alexandra Mondalek, editor, New York