CHICAGO — The Institute of Food Technologists (IFT) has released its 2024 Compensation and Career Path Report.
The report examines career trends, including data on compensation, job satisfaction and workplace challenges across various job titles and functions in the food industry, academia, government and nonprofits.
“There is no resource available today that provides this type of critical, up-to-date information on the state of food science careers to help employers better navigate modern challenges with greater employee retention and attraction, as well as help employees and job seekers prepare for a career move or transition,” said Christie Tarantino-Dean, CEO of IFT. “And due to the significant increase in younger professional responses this year, the report also provides an invaluable glimpse into the mind of the new professional as they enter or rise in the workplace.”
The report identified generational conflicts employers might encounter among modern workforces, noting a difference in employee priorities such as compensation, work/life balance and job security. Work/life balance ranked third on the list of top factors contributing to job satisfaction for Gen Z and millennials but was not in the top five for baby boomers, falling behind compensation and supportive management.
While some of the identified tendencies align with common workplace trends, the report also found a few unexpected statistics that display potential shifts in key areas, such as the desire for salary transparency. Approximately 71% of Gen Z and millennials said they feel comfortable sharing salary information, while only 37% of Gen X and baby boomers agreed.
IFT Premier Members and IFT Student Members can download the report for free, while non-members can purchase it for $179. Other IFT membership levels can purchase the report at a discount.
Findings from the report will be presented at IFT FIRST, the world’s largest food science and innovation expo, held July 14-17 in Chicago.
