Gen Y Opts for Cash over Career Growth


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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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