SEEK says financial worries are keeping many New Zealanders in jobs longer and fueling career regrets

SEEK says two in five New Zealand workers believe they will work well into their 70s or beyond.

SEEK’s new Evolving Working Life Report notes the average life expectancy and retirement age in NZ is continuing to climb. The report looks at how NZ workers feel about their working life and careers in 2025 and into the future.

SEEK surveyed 1,045 workers across a range of working ages, locations and industries for the report. 

The employment marketplace found 54% of those surveyed regretted their career choice and would choose a different career if they could go back and do it again.

Not earning enough was the top reason for this regret at 50%, followed by interests and passions changing at 36% and work being unfulfilling at 24%.

SEEK Country Manager Rob Clark said people having doubts about their career choice was a common experience but it was important to recognise that a career change was possible at any stage of the working life.

“What stands out from this report is that money is weighing heavily on the minds of New Zealand workers as the key driver of career regret, and as the top concern when looking forward to the future,” he said.

“Amid persistent cost of living pressures, this could be why almost half of workers are feeling pessimistic about their future working life.”

The report found 41% of people surveyed were open to the idea of a career change, but only 6% were actively moving towards one, with financial concerns primarily driving the reluctance to change. 

Despite this, 85% of workers acknowledged in the survey that New Zealanders are working longer than ever before and 41%, or more than two in five people, believed they’ll be working well into their 70s.

The age for New Zealand Superannuation, NZ Super, is currently 65 although there has been talk in recent years of raising the eligibility age to 67 as more people over the age of 65 are continuing to work.

Retirement Commissioner Jane Wrightson told the Finance and Expenditure Committee (FEC) last year during the Commission’s annual review it was a key recommendation to keep the NZ Super eligibility age at 65.

“Our modeling shows that if there's to be any change considered, this has got to be accompanied by a suite of other actions, particularly looking at the inequity this would cause and mitigations to compensate,” she said last September.

When SEEK asked those surveyed about their biggest concerns when considering the future of work, slow or no salary growth, burn out and needing to work for a long time to make financial ends meet were the top three.

SEEK said Gen Z workers showed the highest concern for the above three factors compared to older generations, with 49% of Gen Z particularly concerned about salary growth, and 33% worried about not having a job that fulfilled their purpose. 

When the different age groups were asked whether they would choose a different career if they had their time over, 61% of Millennial and 56% of Gen Z workers were more likely to say they would. This was followed by Gen X at 51% and then Baby Boomers at 41%. 

Clark said having doubts about career choices was a “very common” experience. 

“However, it's important to recognise that a career change is possible at any stage of the working life, and it doesn't have to be overwhelming,” he said.

Despite career hang ups, SEEK said there was also a “sense of optimism” among those surveyed, with 52% reporting feeling positive about their future careers and 55% believing their current role will exist in 10 years. Only 11%  felt concerned that their skills and experience would become redundant as technology advanced.