Unions have argued the federal government's Work Choices laws give the upper hand to employers, particularly when dealing with young, inexperienced workers.
But Mr Hockey said young people were more used to negotiating these days areas.
"The kids are negotiating mobile phone contracts worth literally thousands of dollars a year," Mr Hockey told ABC Radio.
"In some cases, they are borrowing money for cars, they are going and borrowing money for overseas trips - yet they can't negotiate a contract?"He said that in any case workers under the age of 18 needed parental consent before they could sign an Australian Workplace Agreement (AWA).
Mr Hockey said he would "love to be on AWA".
"But that is for other people," he said.
"I'd love to have a bonus scheme and I'd love to have arrangements that rewarded on the basis of hours of work.
"I'd happily trade off everything."
But he said politicians did not have the opportunity to do so because their pay was set by the independent Remuneration Tribunal.
Australian Council of Trade Unions (ACTU) president Sharan Burrow said Mr Hockey's comments showed the government had turned its back on young workers.
"His comments are bizarre and totally out of touch with reality," Ms Burrow said.
A recent government-funded study found that some young workers in cafes, shops and bars had lost between 25 and 31 per cent of their take-home pay under Work Choices, she said.
"It is absurd to suggest a young worker aged 16, 17 or 18 has an equal bargaining position with the manager of a multi-national fast food chain," Ms Burrow said.
"The fact is that under Work Choices, young workers have been the most vulnerable and have suffered big cuts to their pay and conditions."
The Australian Fair Pay Commission on Wednesday launched a review of pay rates for juniors and trainees.
Ms Burrow said the union movement was concerned the review was a "cover-up" for the government's plan to cut wages and conditions of young people.
msn September 27, 2007
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