Gen Y Opts for Cash over Career Growth


So much for the notion that young workers prize career growth more than cold, hard cash. Half of new college graduates say they would rather have high-paying jobs, even if it means less-satisfying careers, according to online job board Experience Inc. in Boston. Slightly more than one-quarter cite student loans as a big factor.

That revelation has recruiting implications: Nearly two-thirds of students say they are more likely to accept jobs with companies that offer loan repayment or similar financial assistance. Nevertheless, work appears to be a last resort for students shouldering high loan balances. Only 11 percent say they work part time to help pay tuition. Nearly one-third are competing for scholarships and grants.

2 responses to “Gen Y Opts for Cash over Career Growth

  1. That is excellent advice and thought. It is amazing to me how much debt people are graduating college with, I can see where that would skew what you end up doing for a living. It really is to bad that there seems to be a need for trade-off between what you want to do and what you need to do.

    Thanks for the great comment.

  2. I am of the Y generation myself, and yes, it is a sad state of affairs that money becomes the primary driving force behind many career decisions. More than ever before, graduating college seniors are coming out with not just a newly minted degree but a heavy amount of loans as well.

    Something’s gotta give, and so we see this shift in mentality occurring. But then we all realize that if a job is incredibly unsatisfying, we are more likely to leave the job early, and leaving a job and giving up your salary certainly puts a stopper on alleviating your loan burdens!

    We are better off thinking carefully about our career decisions, and taking a job that perhaps doesn’t pay amazingly, but is enjoyable, can be sustained for a long period of time, and pushes us further in the direction of our career goals.

    As a young person I find it unfortunate that economic and societal issues force us to be so money-oriented from the very outset of our career. It’s not a philosophy I can subscribe to, but maybe it is the hard reality.

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