To Millenials, Working Somewhere For 2 Years Is Like Staying For 20 Years
4:00 pm, September 7th | by Laura Donovan
Gen Y folks appear to be the players of the workforce: they can’t commit to an office for very long. New research reveals that people in the 18-30 age range are jumping ship after two years on the job, a stark contrast to the retention rate of previous generations.
Millenials earn an average annual salary of $39,700, but that’s about the best they can expect. The younger Gen Y individuals receive starting salaries of $21,000, which is, quite frankly, impossible to survive on. Perhaps this is why they refuse to remain at one particular work environment for very long — they need more money. Baby boomers, meanwhile, spend an average of seven years at one specific place. Gen X workers get five years under their belt before taking off.
So what’s our problem, aside from needing more money? Nearly half of us are employed at small companies, where we may not receive as many competitive benefits as we could get at a large corporation like, say, Facebook, which offers in-house yoga and other cool things. And we’re all over the place hot messes, so there’s that.