9
Economy hands Gen Y rude awakening
American Apparel holds open call for jobs In New York City.
To view this content, Javascript must be enabled and Adobe Flash Player must be installed.
TEXT OF STORY
TESS VIGELAND: They graduated, they came, they conquered. That was the typical path of the so-called "Millennials", or Generation Y. But those 20-something-year-olds are also mockingly referred to as the "Entitlement Generation," coddled children who grew up to be demanding employees. In the first quarter of this year, they were hit with a 5 percent decline in jobs. The biggest of any age group, according to a Merrill Lynch survey.
Gigi Douban reports on how recent graduates are adjusting their expectations and their egos.
Gigi Douban: Erin Melaney is 26 years old, and career-wise, she's exactly where she planned to be. She's in a management-level position, she gets three weeks vacation and her daily commute? Two miles.
Melaney works as the development director at a non-profit agency in Birmingham, Ala., serving low-income girls. She landed this job six months ago after what she considered a surprisingly long search.
Erin Melaney: I felt like, you know, I've had two years of experience, I now have a master's degree, and you know, I probably sent out 30, 40 resumes in the area. I had one person tell me that they had 110 applicants for a development director position.
Now that she has this job, she's not about to do anything to rock the boat.
Melaney: Am I going to go to my boss and say you know add an extra week's vacation, I need a raise? No. I think everybody recognizes that now's not the time to mess with your job security.
But wait a minute. What ever happened to the so-called "Entitlement Generation"? They're the recent college grads who grew up with their parents praising every little accomplishment. They were told they could be anyone they wanted. Once they got jobs, they expected big raises and flex time and corner offices.
Actually, Melaney is so uncertain of her economic future that she started a side business designing fliers and newsletters from home.
Melaney: And all of that money is going straight into savings.
She's also traded expensive dinners and drinks with friends for game nights. One weekend a month, she and several friends get together at someone's house. First, they eat a spread of hot dogs, chips and MoonPies. Then they play Pictionary, girls against boys.
In spite of the small sacrifices, Melaney feels fortunate. After all, many others are still in search of their dream job.
Islara Vazquez is 26. She majored in music technology, but she's found it tough to find a job at a radio station or record label. So she took a job as a support analyst at a software company, mainly for the pay and health benefits. But there was just one problem: She dreaded going to work everyday.
Islara Vazquez: Coming in at 7 a.m., getting up before the sun is up to me is depressing.
Almost two years into the job, Vazquez had been itching to leave. So last month, she says, her boss asked her if she really wanted to be there. Vazquez said "No," and she was terminated. Now she's back to square one, networking and sending out resumes.
Vazquez: I didn't think I would find the job of my dreams quickly, but thought I could at least find a job to where I could at least work my way up to the job of my dreams. That has definitely not been the case.
Experts say this economy has been a rude awakening for 20-somethings. And that's not such a bad thing according to Jean Twenge, a psychology professor and author of the book "Generation Me."
Jean Twenge: It does seem like as the recession drags on, that more and more young people are having to adjust their expectations.
Twenge says that's partly because the younger generation now has a reputation for demanding too much too soon. But if you want to see an ego that's been seriously deflated by the economy, look at Islara Vazquez.
Vazquez: I'll work my way up. I don't care if I'm buying coffee and doing people's dry cleaning. As long as it's in the field that I want and as long as I get paid decent.
If the recession drags on for a few more years, Twenge says, we might see a real attitude shift in the Entitlement Generation.
Twenge: On the other hand, I sort of suspect that as soon as we're out of this, the expectations and these attitudes toward wanting all of the perks and the praise and the time off, is going to come right back.
Twenge says it's a pretty deep-seated thing.
In Birmingham, I'm Gigi Douban for Marketplace Money.
Unfortunately, Erin is a bad example of the generation you are describing. These people seem to be those that were actually taught by their parents how to be humble and work hard to achieve.
The attitude displayed here is the exception not the rule. Even in bad economic times, I see in my work place, this generation come and go. They WILL not work for more than a couple of months without a pay raise or promotion. They think they can make their own schedule. They will call out if their dog is sick. They do just enough to get by at the job, then expect to recieve the same benefits and promotions as those who out perfom them 100 to 1.
The biggest and most devistating thing is that they don't handle stress very well. If the job gets tough, they quit. If not the job, then their motivation is so racked they give up trying to perform. They just come to work to get a pay check untill they are let go.
Is it all there fault? no. They have been raise to believe if they go to college that is all that is neccessary to obtain a wonderful job doing exactly what they want to do in life. This simply isn't reality. Even in the perfect job, you will be required to do things you don't want to do. Thats life. Somewhere along the way, their parents were so into positive motivation, they forgot to hand them a simple dose of reality.
Fortunately not everyone of that generation is like that, as can be described here. Those that aren't will be the ones to succeed. Eventually, maybe when the others are around 30 to 40 years old, they'll figure out that you can't stomp and scream your way to the top. Throwing a temper tantrum doesn't get you what you want in life.
Wow, it was interesting. I can see each side of the story. However, since I am a biased "20-something," I probably can't comment, but I will.....I think that GEN Y has already adjusted their attitude, perhaps when the recession began...I don't think many of us are thinking, "GIMME," "ME," 'I WANT," "NOW!" Haha, I think we are more realistic than that, especially with a poor job market outlook. Do I think that parents of our generation were able to give more, coddle more, and be a more active presence in our lives? Yes. But, maybe those are positive character traits because now we can give back to society in the same measure; let's be real, those eager, demanding, 20-somethings already had a rude wake-up call, or will have one, so there's no need to worry about setting them in their places, it will all come together. We will adjust, work hard, and do our best to realize our aspirations, ideals, and goals--and maybe they are not gilded with gold, but they are something, and that's what we need now, something.
I have known Erin Melaney for many years. Erin is a highly motivated, hard working young woman. She has earned everything she has gotten. She has never expected handouts. As a manager, I can't imagine she would ask anyone to do something that she herself wouldn't do. Everyone who knows Erin is proud of her.
I have a 20-something daughter who does not fit the stereotype of Gen Y...she is an extremely hard worker and chooses service type jobs over high paying ones. The problem for her lies largely with her older supervisors, who don't know how to appreciate and encourage her labors. They spend more time discouraging her efforts and teaching her that hard work is not rewarded, by either praise or pay.
Generations X and Y might have a bad attitude, but they are not the "Entitlement Generation". The Baby Boomers are the "Entitlement Generation".
Generations X and Y get to inherit the HUGE National Debt, an economy in decline, and a Baby Boom Generation looking to retire and be supported by Generations X and Y.
I will agree that we are headed towards a huge train wreck of expectation versus reality.
Erin Melaney is my daughter. I am very proud of her and of all of her classmates who have graduated from college and are making a contribution to society in a variety of careers. I don't know anyone in this age group who thinks they are "entitled" to anything.
They work many hours a week, volunteer their time with various charities, and are concerned about their cities, their country and the environment. Go Gen Y!
