Gen Z doing better than Millennials in pay

[Advance.Wars.Sgt.]

I've lucked out purely out of self motivation rather than financial savvy. I have never been the type to WANT to stay at a job for too long, and when I worked at Harris Teeter and saw the long list of 10+ and 15+ yr employees with only a $4 (MAX) increase in pay plus a couple extra weeks of vacation time to show for it, that only strengthened my stance in never being loyal to a company.

 

[T002 Tyrant]

Good on Gen Z they deserve as much as they can take. Finally some good news for future generations.

 

[Charlotte Lucas]

Make your money kids. It'd be fucking depressing if they were doing worse than us.

 

[TarpitCarnivore]

I would assume it's because tech sectors are blowing up, and that it's easier to ring in younger talent with smaller raises then they need to be. Is it compared to cost of living of the area? So, let's say, some in New York is 22-23 and is hired, do you think their whatever % a year is actually enough to help them purchase and shit?

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A fresh grad that gets hired at MS, Google, Facebook et all could very well clear 110k base and then another 20 to 50 between stock comp and sign on. Factor in many of those companies have employee stock purchase programs, yearly bonuses, and an insane amount of office perks that total comp is far higher.

 

[captive]

"New employees at a company are often being paid more than tenured employees," saus Brian Kropp, head of Gartner's human resources practice.

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Been saying it for years. Quit your jobs for better ones. It's literally the only way to get a pay raise.

 

[Xiaomi]

Millennials are by and large creative and socially minded, but the main mistake we made was trying to go for what our parents had, e.g., a stable career in one place where we can move up the ladder and enjoy relationships with people. Seems like Gen Z has seen that that only gets you either fucked by management or scrambling in the gig economy, so they decided to get out ahead of it.

The only problem I see is that the zoomers and future generations are going to be sacrificing so much of their personal lives if they're always working on their next advancement. They should be fighting to change workplaces with us, not simply hopping to where the wind blows.

 

[Artdayne]

Graduated at technical college in the spring of 2007 in Stem. I made $15 an hour for two years as a contractor, which meant I had no health insurance, no benefits, and paid more in taxes and then after 2 years in working I was laid off and really struggled to find a new job, had to move back in with my parents otherwise I could have just as well been homeless. Luckily I was already working on getting into the military at the time and that gave me job security for awhile until i was able to go back to college and get a bachelors.

 

[texhnolyze]

I'm a millennial. I stay in place because I get 10% increase per year.

 

[scrambledeggs]

These types of articles talking about generational experiences always leave me feeling confused about which generation I belong.

According to this one, at 24, I'd be Gen Z. 😩

What's the average job-hopping frequency for Gen Z? Yearly? A couple of years? I've had 4 separate jobs in the past 6 years, ranging from seasonal (~2 months) to 4 years. In a couple of days, it'll be one year since I started my current job. Start pay was $4 less than what I was used to; but in less than a year, I got a $2 raise and, some months later, was promoted to salary that has me raking in more dough than my previous job. Tbh I feel lucky in the sense that I wouldn't have gotten such a steep trajectory in pay if the guy I was technically working under hadn't been fired lol. Salary definitely makes it tempting to prolong my stay, especially since I've effectively put college on hold to further my financial security.

 

[Mammoth Jones]

yeah pay stagnation is a big reason we have so many people, including myself, who jump company to company every few years. I have no loyalty towards you if you do not make it worth my time.

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Yup. It's the only way these days.The days of being a good loyal company man for 40 years and retiring are long gone.

 

[Lobster Roll]

Very happy for Gen Z in that regard. They deserve it. We *deserved* it, but didn't receive it. In that sense, I'm happy for them. Also, as a Millennial, I remember all too well the pain of trying for literal years to find any kind of post-college work that wasn't restaurants or temp work. I make very solid money now, but it could and should be much more. It's tough though, the looming specter of being unemployed again and seeking work again has put me into a position where I'm not open to taking ANY risks career-wise. I can see many other people in my same situation, thus we fall into "company loyalty" and have our wages become stagnant.

 

[T0M]

I sure lucked out. Just got my first job offer w/ the feds a few days ago (CS Major). Negotiated up from $42k to $56k. If I move to where I'm expecting to, that kicks up to $72k plus recruitment bonus = $80k starting. Not bad or a 24 year old.

Thanks millennials for taking the L so I can secure the bag.

 

[Timeaisis]

The extreme blow to (our) my confidence as a result of that probably does nothing to help secure better paychecks.



Any day now...

Srsly though, this worries me.

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Yup, I constantly undervalue myself. It's hard to figure out what your worth when the market never really valued you to begin with. And now that it (kinda) does I'm stuck in 2012 perception of the value of my skills.

 

[LGHT_TRSN]

I'm willing to bet that in general millenials undervalue themselves compared to gen z because they arrived on the job market during the repression. It can be hard to leave job security for the hope of higher wages.

 

[Deleted member 40631]

eh

 

[shnurgleton]

Fuck

Them

Kids

 

[Ryaaan14]

Millennials are lazy as fuck cos we grew up waiting on dialup modems to connect and waiting an hour for a song to download. Zoomers are all hyped up from playing fast paced Fortnite matches and floss dancing so it's no surprise they jump to better paying jobs

 

[Dyle]

The zoomers are once again either destroying or leaching off of the hard work the millennials put in

 

[TitlePending]

Well, the one thing millenials had is a crashing stock market. So assuming they were able to invest at the bottom then they've been able to enjoy this 10+ year bull market that likely won't be repeated for a long time (please no Great Recession again).

 

[Heromanz]

We are? Damn news to me

 

[Mortemis]

Numbers aside. The way I see it, if you were one of those people who thought Early Gen Z stuff like Ben 10, Total drama island, Chowder, Flapjack, Hannah montana, icarly, johnny test was the "downfall into shit era", you're a Millennial, but if you remember that stuff fondly, you're a Zoomer. People born in 95 seem to swing either way; some enjoyed the Zoomer stuff in their "late childhood" from ages 10-12, while others already felt their childhood ended at 10 and didn't like the new stuff.

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Yeah I fit squarely in the middle of that late millennial early gen z part. Love all of that.

 

[Illusion]

yeah pay stagnation is a big reason we have so many people, including myself, who jump company to company every few years. I have no loyalty towards you if you do not make it worth my time.

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I'm already feeling the more work and pay stagnation. Already considering new work however I feel like I can never find better paying jobs.

Yup, I constantly undervalue myself. It's hard to figure out what your worth when the market never really valued you to begin with. And now that it (kinda) does I'm stuck in 2012 perception of the value of my skills.

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I relate so much to this. What's worse what jobs I do end up working at I always feel underutilized. I have so many skills and talents. Then I end up in jobs that pay better that gives me more skills and talents. And I'm in this constant growth acquiring skills but never finding a job where I can utilize them all or feel fulfilled in. And the ones that want them undervalues the work and pay to the point it's not even worth considering the job.

 

[Septimus Prime]

Well, the one thing millenials had is a crashing stock market. So assuming they were able to invest at the bottom then they've been able to enjoy this 10+ year bull market that likely won't be repeated for a long time (please no Great Recession again).

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No, not really. The oldest Millennials would have been maybe 24 or 25 at that time, and most would have unlikely had any money to invest.

The market crash was more exploitable to Gen X and Boomers.

 

[jfkgoblue]

I'm a millennial, graduated HS in 2008, but instead of finishing college I joined the military, effectively shielding myself from the recession. Got out, finishing up an engineering degree debt free in December and already have a really well paying job lined up. A lot of my HS classmates are still struggling, so I feel like I was very fortunate with the route I took.

 

[Failburger]

I've switch careers 3 times in my life and fuck it I'll switch career 3 more times if need be.

I am not going to die on the street, wasting away from hunger and pneumonia. I'm going to die in a fucking harem. A FUCKING HAREM MOTHERFUCKERS!

I WILL WATCH THIS WORLD BURN WITH MY COCK IN A MOUTH AND WINE IN MY HANDS!

 

[Nude_Tayne]

No, not really. The oldest Millennials would have been maybe 24 or 25 at that time, and most would have unlikely had any money to invest.

The market crash was more exploitable to Gen X and Boomers.

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Can confirm. Was 26 at the time, and making $12.50/hr in the basement of a bank. It barely felt like it affected me as long as I still had my job (I had no savings/investments), but the financial crisis sure affected my almost 60 year old parents pretty bad.

 

[Masoyama]

I'm a millennial, graduated HS in 2008, but instead of finishing college I joined the military, effectively shielding myself from the recession. Got out, finishing up an engineering degree debt free in December and already have a really well paying job lined up. A lot of my HS classmates are still struggling, so I feel like I was very fortunate with the route I took.

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same age as you are. Went to grad school after college, finished my PhD with zero debt and got a really high paying job doing exactly what I always wanted.

 

[Deleted member 19533]

Been saying it for years. Quit your jobs for better ones. It's literally the only way to get a pay raise.

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I quit my job to take a pay cut. For whatever reason, better offers weren't happening.

New career though. Maybe that'll pay off.

 

[Illusion]

As a late millenial I just want to say this thread inspired me to look at jobs and I found the non-profit organization I won my school scholarship from is hiring for a Events & Marketing Coordinator. Which involves a lot of my skills I acquired throughout my high school, college, and career. And what's more interesting they are asking me what I want to be paid (I don't know what to even ask for).

One side they ask for two years of college (I have 5 years but no degree)
On the upside I do believe I qualify to graduate for my general education degree that I never bothered or thought to apply to graduate for.

I'm actually going to my college early before work tomorrow to see if I did have all the classes necessary to graduate for my general education degree. Then apply to this job ASAP after I tweak and update my resume.

 

[TitlePending]

No, not really. The oldest Millennials would have been maybe 24 or 25 at that time, and most would have unlikely had any money to invest.

The market crash was more exploitable to Gen X and Boomers.

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Well there is the unicorn scenario of someone having a stable job while living at home to avoid rent.

But true, Gen X and Boomers would have made it out the best assuming their houses were not foreclosed on and they managed their portfolios but not actually liquidate their holdings.

 

[Vish]

I'm an engineer and been here for 1.5 years, guess I'll find another job now.

 

[NetMapel]