Article On Millenials

This article, called “Bad News for the Class of ’08,” makes for an interesting read.  It’s nothing I haven’t heard before, but it has a couple of anecdotes about folks who graduated right after the recession hit (as I did), and makes the point that when you graduate has a long-term impact on your wages, even after a recession has ended.  People who graduated in 2011-2013 are likely to making less than their slightly younger and slightly older counterparts even well after we’ve seen the last of the Great Recession.

 

2 thoughts on “Article On Millenials

  1. Judi

    Interesting article! I wish they had delved into hypothetical reasons for the long term impact on career and earning potential. They hint at it being due to lag in job acquisition from the stories they highlight, but I can’t help but wonder if there isn’t a “recession mentality” that haunts people in this situation. For example they may just be grateful to have a job so they don’t effectively negotiate terms, or because of their debt they are willing to settle for jobs that pay rather than help them aquire skills or have opportunities for promotion.

    1. Mrs. DebtFreeJD Post author

      Hm, interesting thought. I also wonder if making less at the beginning of your career makes it harder to negotiate for better raises. It’s a lot easier to ask for a $5000 raise if you’re making $90,000 vs. if you are making $50,000.

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