Wealth Gap Increasing Among Millenials, Possibly Most Unequal Generation in History

[Possum Jenkins]

and yet the screaming ones on tv have social studies degrees and shit (occupy wallstreet had one with a standford degree in ss)

Yeah, that has nothing to do with the fact that STEM careers aren't cannibalized by humanities/social science careers.

 

[MikeMcMann]

I agree with most of this.

Though I wouldn't say it's a chicken or egg case regarding who became disloyal to who first, ie the worker or employer.

The millenials grew up watching their parents or other older people get canned or screwed over by companies, despite their loyalty. Back when people could be employed by one company their whole life, provided they did a good job, they had more loyalty to companies. Now that everyone knows that most companies don't care about their employees, most people have become mercenaries.

I read an article about a worker, who worked at IBM. Worked there for 30 years. Died of a heart attack in his 50's and was a few months away from being eligible for a full pension. He left behind a family and naturally they did not receive the full pension, they only received a vastly reduced pension that he had qualified for up to that point. A corporation really only has loyalty to it's shareholders and millenials are aware of this to an extent that other generations were not, so they don't feel they owe anything to a company.

I agree that good, skilled workers can move up fast now though.

I think the 'business loyalty' thing is pretty over blown. I think the main thing is that the pace of business change has increased exponentially the investment community expectations have changed as well and that has lead to businesses changing far more than in the past which leads to quicker layoffs and hirings.

Not long ago big companies like IBM and Coke where not supposed to grow like tech companies. Simply being big and stable which protects capital downside and paying a dividend was enough but now they need massive growth too or investors abandon them.

A large stable, mostly unchanging company can have loyalty to older employees but a company that is expected to reinvent itself and compete in growth with every new uipstart cannot afford to coddle older unchanging employees who tend to turf protect and don't want the new kid hired, who has put in the decades of service to jump ahead of them just because they understand the new Tech.

 

[HunterSdVa29]

college costs waaaaaaaaaaaaaaaaaaaaaaaaaaay more
degrees are more 'diverse' which really means in fields that don't generally pay well
the economy is shifting towards a service economy (or is straight up there already) and thus you only need so many degree holding foreman/managers
while wages are relatively stagnant, the COL has increased in a few areas substantially, most notably housing and food. The whopper was $.99 for a 'limited time' only for like 5 years, it's now like 3.89. That's brutal inflation

People are also, even at that age, waaaaaaaaaaaay fatter and out of shape compared to times past, which also increases HC costs.

 

[GSP_37]

What happened to the tech savy youngsters getting high paid jobs straight out of college?

 

[IloveTHIS]

this thread along with some other recent things in life have motivated me to become rich

 

[Hollywood Jack]

there's always some obnoxious cunt coming in threads like these telling everybody how much money he has. self centered prick.

Millennial crew checking in.

Owns rental property.
More than the average in the OP saved in the bank.
401K
750+ credit score

Spoiler

My generation does suck.

 

[Mr. 4K]

I gotta rep it bro. Everyone loves shitting on millenials on this board.

Fook em.

 

[derrrrp]

kind of an incomplete/misleading statistic as its limited to savings accounts. unless you're absolutely risk averse, why not spread savings around to things like mutual funds?

 

[Jon Stark]

I don’t care about millennials.

I’m not one and I have more than 100k in savings after losing most of what I had and getting set far back in the 2008 recession.

You are poor with only 100K in savings. What's your net worth?

 

[Hollywood Jack]

What happened to the tech savy youngsters getting high paid jobs straight out of college?

Those are the ones who account for the large wealth gap among Millennials.