The NatWest MoneySense Panel found young people were overly optimistic about their future earnings, debt, and lifestyle.
On average the 8,500 11- to 19-year-olds interviewed expected to be earning around £31,000 by the age of 25. But the national average wage for 22- to 29-year-olds is currently less than £18,000.
The survey also found young people were optimistic about student debt, and the age at which they would be able to buy a house, and 76 per cent were unable to identify the cheapest loan when presented with four options.
The NatWest panel is a five-year research project tracking a group of British young people, and these are the first findings to be released.
Stephen Moir, head of community investment at the bank, said: "A hopeful generation of young people is not necessarily a bad thing.
"However a practical and realistic approach is crucial to equipping the next generation with the skills and knowledge they need to face the financial challenges ahead of them."
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