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Honestly, I would like to find a company I can spend the next 30 years with. I have worked for 3 companies since I was 16. I am 33 now and I am looking for number 4.
I'd likely only job hop if the company doesn't offer raises or advancement options whether as higher paid time and experience based or a management position.
I've actually done a good amount of research on millennials (and I happen to be one). The data I have collected has shown that there need for security (work security, etc.) is much higher than Gen X and the Baby Boomer generation. I'm wondering if it has to do with the student loans and other debt they have. I also wonder if most the data talking about job hopping is just referring to professional millennials, which don't exactly represent the majority of us.
I am not trying to clam you are bashing them at all. The article you site though is judging apples and organges
"According to the most recent statistics from the Department of Labor, the median job tenure for 55- to 64-year-olds was 10.4 years as of January. Among 25- to 34-year-olds, it was just three. This owes partly to the fact that millennials are less established in their careers and their lives in general. "
Ok but when those 55 to 64 year olds were 25 to 34 how often were they changing? That's like saying we should judge a colony out of Africa on the same terms of a western nation in real time.
"When you consider that the current vesting schedule for defined-benefit plans, including 401(k)s, requires workers to be on the job for three to six years before their account is fully vested, it's easy to see why millennials are coming up short. "
Yeah that's the issue as well most moved to defined contribution. Huge difference. DB's were much more common with baby boomers so again that's like judging something from today vs something in the past. A car with power steering, power locks and windows might have been a luxury car in 1967 but is a base model today.
"The longer young adults are out of the job market or working at jobs that don't offer retirement plans, the longer they're forced to put off saving for their future."
But not all companies provide retirement plans period. Regardless of how old it does not matter.
"Opening a high-interest online savings account or investing in a CD usually doesn't require a huge amount of cash, and you'll earn interest on every penny you put in."
Actually that is quite low..very low these days.
"Social Security plays a key role in your financial security, but it's not the only way to boost your retirement income. In our brand-new free report, our retirement experts give their insight on a simple strategy to take advantage of a little-known IRS rule that can help ensure a more comfortable retirement for you and your family. Click here to get your copy today."
Huh? Tens of millions of people cannot get social security. They are called government employees. You get a pension from a local pension board. Here's an example. PERAC
It's an ok article but I could argue Motley Fool could be like LI.
LI is a social networking site. Motley fool pays their contributors between 40 and 100k / year.
They have absolutely nothing in common.
Yes, Motley Fool still publishes a large volume of trash content, but the quality is still miles above linked in, which is akin to a facebook post for someone that pretends to be a professional. If the writer isn't paid, the writer doesn't have enough skill to be paid, therefore they have no credibility.
--Note, I am a well paid author on a major financial site, but it isn't Motley Fool. (And it sure as **** isn't linked in, if anyone managed to have that "thought"...)
I don't know, I jumped into a fed job that I'll probably stick with for the foreseeable future, 5+, 10+ years? more? Mid 20s, so I'll have a long career somewhere.
I've actually done a good amount of research on millennials (and I happen to be one). The data I have collected has shown that there need for security (work security, etc.) is much higher than Gen X and the Baby Boomer generation. I'm wondering if it has to do with the student loans and other debt they have. I also wonder if most the data talking about job hopping is just referring to professional millennials, which don't exactly represent the majority of us.
I actually think it has more to do with watching the tech bubble & housing bubble pop, watching their parents struggle to survive and maintain a decent lifestyle has had to have some effect on this generation. Just like watching our parents and grandparents lose their corporate job that they had been at for decades had a large effect on Generation X, to the point where job hopping by people in their 20s became the norm.
I dont think it is about security itself, for me anyways, while i am young i want to get as many skills, broaden my skillset so i job hop when i feel i learned what i need at one place without moving up the ladder. The jobs today are more specialized so its harder to get a varied skillsets by staying in one job.
LI is a social networking site. Motley fool pays their contributors between 40 and 100k / year.
They have absolutely nothing in common.
Yes, Motley Fool still publishes a large volume of trash content, but the quality is still miles above linked in, which is akin to a facebook post for someone that pretends to be a professional. If the writer isn't paid, the writer doesn't have enough skill to be paid, therefore they have no credibility.
--Note, I am a well paid author on a major financial site, but it isn't Motley Fool. (And it sure as **** isn't linked in, if anyone managed to have that "thought"...)
Amen to that. The Motley Fool article doesn't fit the narrative, thus the criticism of that versus the weak entries by writing wannabe's on LI.
Threads like this are started to do nothing more than start forum wars.
Millennials tenure is no different than their parent's tenure at the same age. Tenure increases for all generations, as people hit their 50's-60's. That's not generation specific, but age specific.
CNN Money and Harvard Business Review say the same thing.
It's like saying Baby Boomers quit jobs for retirement at a higher rate than Millennials. Yes, it's true. Millennials will be have higher retirement rates in their 60's than their 20's.
The comparison has to be made at the stage of the career at the same age for each generation to determine a difference. A 60 year old baby boomer is not at the same stage in his career as a 25 yr old Millennial. Look at the 60 year old, when he was 25 yrs old for the comparison at the same stage.
As for the Motley Fool article, the writer is poster child of job hoppers. Most of their jobs have lasted only a few months.
DonDulin.com
February 2013 – February 2013 (1 month)
Greenway Media
December 2012 – December 2012 (1 month)
CardBenefit.com
July 2012 – December 2012 (6 months)
ValueClick Brands
March 2012 – August 2012 (6 months)
James Publishing and Attorney Marketing
April 2012 – July 2012 (4 months)
Nadrich & Cohen, LLP
November 2011 – April 2012 (6 months)
Last edited by move4ward; 02-28-2015 at 09:30 AM..
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