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re: Millennials earn 20% less than Boomers did at same stage of life
Posted on 1/13/17 at 9:16 pm to bmy
Posted on 1/13/17 at 9:16 pm to bmy
quote:
Let's not compare a kid with mommy and daddy helping them with their business to adult millenials without that support system. Dumb
Seems like quite a few,are still living with mommy and daddy
1
Posted on 1/13/17 at 9:18 pm to RogerTheShrubber
Gen X ftmfw. Up the Irons
Posted on 1/13/17 at 9:18 pm to Byron Bojangles III
There are always outliers, and a few in this thread (I make probably 3x my dad at 34 easily. But I haven't purchased a home or had kids).
As someone who has straddled the corporate and education sectors my entire career, there are some huge problems that create this. And it's pretty simple:
1) Most entry level non-trade work now requires a 4-year bachelor degree+ multiple years of experience which has a low end cost of probably $15k. This is the fault of Boomers and now Gen X.
2) Most entry level work pays far less than it used to
3) As a culture, we've downplayed "just having a job," or taking a trade. We laugh and look down on trade workers, younger generations are reacting to that.
4) Boomers are living and working longer, both due to just general health improvements AND reactions to financial situations - SS Cost/Benefit, lack of pensions, hit by the recession
No amount of "hard work" is going to help the Middle 75% of millenials - The generally capable folks who just want to contribute. They have to overwork themselves and put themselves into positions that won't produce a career just to get by. The Top 10-15% will be successful regardless of situation, the outliers. The bottom 10-15% are going to fail regardless.
You can't treat all Millenials like the bottom 10%, there are serious structural and cultural issues that drive these statistics - low income, low house ownership, high debt, etc.
As someone who has straddled the corporate and education sectors my entire career, there are some huge problems that create this. And it's pretty simple:
1) Most entry level non-trade work now requires a 4-year bachelor degree+ multiple years of experience which has a low end cost of probably $15k. This is the fault of Boomers and now Gen X.
2) Most entry level work pays far less than it used to
3) As a culture, we've downplayed "just having a job," or taking a trade. We laugh and look down on trade workers, younger generations are reacting to that.
4) Boomers are living and working longer, both due to just general health improvements AND reactions to financial situations - SS Cost/Benefit, lack of pensions, hit by the recession
No amount of "hard work" is going to help the Middle 75% of millenials - The generally capable folks who just want to contribute. They have to overwork themselves and put themselves into positions that won't produce a career just to get by. The Top 10-15% will be successful regardless of situation, the outliers. The bottom 10-15% are going to fail regardless.
You can't treat all Millenials like the bottom 10%, there are serious structural and cultural issues that drive these statistics - low income, low house ownership, high debt, etc.
This post was edited on 1/13/17 at 9:20 pm
Posted on 1/13/17 at 9:23 pm to Peazey
quote:
ight. All the hard work in the world isn't going to help you if you don't have opportunities. Also, not to discount hard work and earning your place, but people are loath to recognize their luck and good fortune. There are things that were beyond your control that put you into better or worse positions to succeed. These are the facts of life. But some people refuse to see this.
For those of us not born into wealth, luck simply means hard work plus opportunity. No one thinks we're all given the same starting line.
I'm kind of surprised at how romanticized the 60s thru early 80s have become. Most people I knew still had roommates while working or going to school.
I think many of you have very unrealistic expectations.
This post was edited on 1/13/17 at 9:29 pm
Posted on 1/13/17 at 9:27 pm to Byron Bojangles III
I've also always found it hilarious ironic when the old timers complain that millenials are always trying to blame others for their problems and won't take responsibility for them and work hard to fix them....
All while they take zero responsibility for creating the worst economy since the Great Depression
Guess it's our fault we weren't saving businesses at age 22
All while they take zero responsibility for creating the worst economy since the Great Depression
Guess it's our fault we weren't saving businesses at age 22
Posted on 1/13/17 at 9:31 pm to HubbaBubba
quote:
The issue isn't that opportunity isn't there for millennials. It's that they want it handed to them instead of working towards goals or following through on ideas.
And all baby boomers are lazy shite pieces of shite because Bill Gates is a billionaire and also a baby boomer.
I'm not sure how some of you get through the day if you can't understand the premise of the article. Pointing to some anecdotes that prove there are plenty of exceptions doesn't disprove the point of the article. Congratulations on having an exceptional daughter, but nothing about her situation disproves the fact that millennials are facing a shittier job outlook than any generation before them, particularly their parents.
Posted on 1/13/17 at 9:38 pm to slackster
quote:
Compared to the 1980s, there are very few industries where things are looking up.
80's were terrible for oil and gas and south Louisiana
That's when the oil industry left New Orleans
Posted on 1/13/17 at 9:42 pm to slackster
The OT loves its outliers.
ETA: I don't get why it's so hard for some (older) people to admit things aren't very good for people just starting their careers.
ETA: I don't get why it's so hard for some (older) people to admit things aren't very good for people just starting their careers.
This post was edited on 1/13/17 at 9:44 pm
Posted on 1/13/17 at 9:44 pm to rocket31
quote:True. Business in our name and we helped her get started.
you need to be 18 to work for amazon
quote:False. Sorry you are too lazy to figure this stuff out on your own.
his story was all a fraud
Posted on 1/13/17 at 9:47 pm to RogerTheShrubber
quote:
I'm kind of surprised at how romanticized the 60s thru early 80s have become.
What is romanticized about it? I'm sure I can find better numbers, but this is from 1979 vs 2002.
So, as I've stated multiple times in this thread, things are significantly for the average worker than they were in 1979.
Posted on 1/13/17 at 9:48 pm to yellowfin
quote:
80's were terrible for oil and gas and south Louisiana
That's when the oil industry left New Orleans
It was, but it isn't much better looking in that industry right now either. And other industries have basically vanished completely.
Posted on 1/13/17 at 9:57 pm to slackster
quote:NAFTA. Ross Perot told everyone this was going to happen, but "nooooooooo! Ross is a crazy man with charts!"
And other industries have basically vanished completely.
Posted on 1/13/17 at 10:11 pm to HubbaBubba
How old were you when you had your first job?
I have hundreds of millennials working for me and very few had jobs in HS. That is very different than all previous generations.
The whole idea of work for many college educated people today doesn't really kick in until you are 21 or older. Being 5-6 years behind the kids who got a job when they were 15-16 has really impacted their perception of what it takes to succeed. Almost all of my managers first job was when they were no older than 16. They just seem to "get it" more than the kids who are later into the labor force.
Just an observation from a pretty large sampling
I have hundreds of millennials working for me and very few had jobs in HS. That is very different than all previous generations.
The whole idea of work for many college educated people today doesn't really kick in until you are 21 or older. Being 5-6 years behind the kids who got a job when they were 15-16 has really impacted their perception of what it takes to succeed. Almost all of my managers first job was when they were no older than 16. They just seem to "get it" more than the kids who are later into the labor force.
Just an observation from a pretty large sampling
Posted on 1/13/17 at 10:23 pm to HempHead
quote:
I actually lol'd
If someone has even a modicum of personality and quickness, they can double that income by working in the service industry.
If she is working 40 hrs a week, she is making $8.60 an hr. I am not going to sit here and say it like I know everything because there might be a reason why she works that specific job, but my first thought is that she is settling for a job. She could start a business of some type that generates more money than that.
frick it, become a stripper. Seriously, if she is only able to pull in $18k a year, she could earn more than that stripping..
Posted on 1/13/17 at 10:28 pm to OweO
quote:how easy do you people think it is to start a profitable business? Do you understand how the real world works?
She could start a business of some type that generates more money than that.
Posted on 1/13/17 at 10:44 pm to kingbob
quote:
That's actually pretty incredible considering how many of them are graduating college with tens of thousands
...kinda just like I did 24 years ago. Then I busted my arse and paid it back for the next 8 years.
Posted on 1/13/17 at 10:50 pm to HubbaBubba
quote:
My 15 year old daughter
Pics?
Posted on 1/13/17 at 10:51 pm to East Coast Band
Have you ever stopped and wondered why they're still living at home? Dumbass.
Posted on 1/13/17 at 11:03 pm to HubbaBubba
quote:
True. Business in our name and we helped her get started.
and the truth shall set you free
Posted on 1/13/17 at 11:15 pm to Marco Esquandolas
Not even remotely the same, but sure your experience is the same as everyone else's
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