Millennials in the accounting profession might believe they have it good, but now they have some facts and figures to back it up.
According to new findings from “The Rise of the Millennial Employee: A Paychex | IHS Markit Small Business Employment Watch Special Report," a new paper from payroll provider Paychex and business analysis company IHS Markit, Millennials working professional and business services, including accounting, currently earn an average $26.05 an hour in the small business sector, the highest salary studied and over $5 higher than the Millennial average of $21.08.
Breaking down the industry by gender, the report notably found that female professional service employees earned an average $24.02 per hour (compared to $20.44 Millennial average), and male employees averaging $27.93 hourly ($23.03 average), a noticeable gap.
"Though the Millennial gender pay gap is smaller in every industry compared to the all-generation gaps, in no industry do female Millennials outpace males in wage growth," the report noted.
Millennials in professional and business services also have the lowest annual wage growth rate at 5.3%, compared to a 5.8% average across all industries.
For the full report, head to Paychex's site here.
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