By Nicholas Zelinsky,
Money & Investing Writer
Millennials. They’ve made their way into the job market, and are making a big splash that not many people expected in the pool of job hunting.
Twenty-eight year old Margaret Davis made a decent amount of money as a writer of a big pharmaceutical company in the legal department in New York. She got along with coworkers, enjoyed the job on a day-to-day basis, but realized she was not going anywhere.
Her employer promised Davis an international assignment, but obtaining the right working papers to allow such an assignment was an issue.
In the middle of a change in management, Davis became lost in the system after only four years of working there.
Now approaching 30, Davis said, “I didn’t really know there were careers in things that were interesting like interior design … it was never a lucrative career choice but here in New York I realized it can be.”
Millennials everywhere are doing things similar to Davis.
Sixty percent of millennials between the ages of 22 and 32 in the last five years have changed their jobs roughly between one and four times, according to State Street Global Advisors.
David Chruickshank, the global chairman of consulting firm Deloitte said, “While pay is important, it’s clear that millennials won’t stay with companies for money alone.”
As a matter of fact, despite not having the best job market available, 44 percent of millennials would leave their current employer in the next two years if given the choice.
When asked to look a long span of four years into the future, 66 percent of millennials said they expect to have a new employer, according to a new survey from Deloitte.
Like many of the millennials, Davis has the requisite side hustles, in her fix’em up way of cash by buying used furniture, fixing it up and selling it for a profit.
She also walks dogs for a little bit of extra income, and is always looking for more sources of revenue.
According to job website Indeed, millennials between ages 18-34 are the largest percentage of working people who look at other job opportunities while still being employed.
In fact, the younger they worker the more likely they are to be exploring new opportunities.
“Personal values have the greatest influence on millennials’ decision – making on the job” Cruickshank said. He also noted that 61 percent of “senior millennials”, or those with higher ranking job titles, have not chosen to undertake a task simply because it conflicted with their personal values.
Davis has no regrets on taking the step away from her job: “I want my strengths to add value” she says. “Before I was just lost in a big mix of a big company”.
Millennials are mixing up the job market on a personal level. It seems as though the days of writing a big number to get a new hire is no longer an option.
Employers are now going to have to try and sell the work that these people will be undergoing, and how they will be contributing to the company, and to society.
Personal values have not trumped having a big check. Money is becoming not as important to young adults as it once was.
A version of this article appeared in the Tuesday, February 9th print edition.
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