I Worked My Butt off in School and all I Got was this Crappy Economy
When I graduated in 2004, our commencement speaker was a female Hewlett-Packard executive I had never heard of (no, it was not Carly Fiorina; she was otherwise occupied with giving the HP board a four-page list of reasons to fire her). She talked about the world we were inheriting from our parents and the difference we would make if we worked hard and shared our innovative ideas with the world (or was that the Saved by the Bell commencement speech? Same difference).
We sprang forth from our folding chairs, proudly collecting our diplomas and tossing our caps, ready to share our ideas with the world and max out our 401ks and decorate our cubicles with grown-up toys, like Rubik's cubes and business cardholders. We printed our GPAs on our resumes and pledged "I will work SO hard for you" in job interviews and begged professors who hardly remembered us to act as references for professions they had no concept of (in retrospect, asking the Colonial History professor to vouch for your graphic design prowess may not have been the best decision). We celebrated our first job offers with cases of Old Style and bought Target furniture and learned how to set our alarm clocks.
And 19 months later, we found new jobs. And 19 months after that, we found newer jobs. Because that is what "Millennials" (or Generation Y, Children of the Boomers, or what have you), do, according to a March 2008 study titled "Millennials at Work." Approximately every 1.6 years, perhaps thanks to a lackluster bonus, a stinky coworker, or an impossible boss, those of us born between 1977 and 1988 decide, "well I can certainly do better than this," and reactivate our Monster.com accounts.
Until now.
Now, thanks to a host of issues beyond our control, we are stuck. Because in this crap economy, you'd have to be flat out, shave-your-head-bald bonkers to walk away from a steady paycheck, health insurance, and the ability to afford a bottle of wine to weep over while Jim Cramer sentences your retirement fund to death (cue toilet flushing sound effect, followed by emphatic "Boo-yah!").
Shouldn't people be applauding that 26 year olds even have retirement funds, when the average American has about $8,000 in credit card debt? The first lesson fiscally responsible Millennials are learning is, "sucks to be you!"
This morning, I overheard a conversation between two twenty-somethings on the fallout from Wall Street's meltdown. The first person mentioned that her 401k had lost about 75% of its worth. "I'll never be able to retire now," she groaned.
"Dude, that sucks," said the guy, nodding sympathetically. "I am so glad I don't have a 401k."
They call our grandparents generation the "Silent Generation"; as in "shut up, suck it up, and move to the back of the soup kitchen line." I'm sure they were ambitious and idealistic once upon a time, before they had to turn in their nylons so that paratroopers actually had parachutes to storm Normandy with. No wonder John McCain thinks the "fundamentals of our economy are strong"; no one's breaking into your bathroom to collect the Sunday sports section for a scrap paper drive--yet.
We Millennials harbor delusions of grandeur that lead us to believe, "I could be doing so much better! Making much more money! Saving the planet! I can do it all!" These beliefs, instilled by our overachieving Baby Boomer parents and reinforced by our disgruntled, pseudo-anarchist professors, have set us on a lifelong quest for betterment. "Settle" is not a word that is in our vocabulary. If it were, I probably would've enjoyed being a plain old college student instead of killing myself trying to be an honors student, T.G.I. Fridays waitress, college newspaper editor-in-chief, intramural soccer player, and double major with three minors.
Getting hired by the John Kerry campaign straight out of college didn't do much to diminish my delusions of grandeur; it just supported the fact that I thought I was destined for greatness. Who cares that on the two occasions I actually met Senator Kerry, he either called me "Brooke" or ignored me to discuss the concession party hors d'oeuvres with Terry McAuliffe? That's right, no one cares, because I got to eat hors d'oeuvres next to John Kerry.
Can the generation that mastered the text message, Facebook, camera phones, and YouTube really be expected to stay in one place for longer than 19 months or else sacrifice our high standards of living? As far as this Millennial is concerned, I don't have a choice. I mean, the day I got my first real paycheck, I climbed up on the milk crate that served as our kitchen table and declared to my roommates, "With God as my witness, I'll never eat Ramen again!" That is a promise I intend to keep. Something about the shiny silver packet with the words "shrimp flavor" printed on it truly frightens me.
Loading comments…
Want to reply to a comment? Hint: Click "Reply" at the bottom of the comment; after being approved your comment will appear directly underneath the comment you replied to
Part 2
And truly the best part of it all are the lessons I learned from enduring harsh conditions from the Army. I'm comfortable today because when I was 19 I decided to have an institution make me a man.
I enjoyed reading your piece because it's interesting how I do and don't relate to it. When I enlisted in '97, and particularly when I chose to become an officer through ROTC in 2000, the economy was much better, and the counterintuitive choice was to join the Military. It was tough knowing at graduation that I was going to Iraq and the world had changed dramatically from what it was when I made those career decisions. I made difficult decisions when times were good, and now I am living the dream when times are bad. I'm doing what you say in your piece is crazy to do: walk away from steady employment and full health insurance.
Thankfully, I didn't choose to do it your way. By the way, my college roommate is a mechanical engineer. He took a brief look at the post-9-11 economy and became an engineer as an Air Force officer. He's been involved in projects with stealth aerodynamics and other great stuff-no worries, instant career, immediate stability, numerous contacts/networking...
You can join at anytime, you know...
Way to go for it.
Military service is definitely something any young person should think about. There were two many decades following Vietnam that it was looked down upon. As a nation, we should be past that by now and young people should seriously consider the benefits of spending some amount of time in the military - benefits both to them and the service it provides to the country.
Thanks
Hopefully soon those who happen to be gay and don't want to lie about it can have that same opportunity as well.
Part 1
Brett, working hard and staying focused is an approach that most people similarly inclined will take. The key is choosing which things you're going to labor intensely to accomplish, and choosing what to avoid! I'm a well-off Army veteran, and I wonder where I'd be if I hadn't enlisted in '97 at age 19.
I took an ROTC scholarship as a young Soldier, graduated in '03 with a degree in Sociology, served a 5-year term as an officer, and recently got out.
Along the way I made choices against the grain of greater society. I never spent more than I made, I rarely spent money on girls, partied sparsely, and swore off marriage and kids. Instead I graduated cum laude, threw money into savings and investments, did a little bit of property investment/sales, and found a partner to go to graduate school with. When he retires in 2 years, we will pool resources and enter Doctorate programs. The end result will be that I'll be a Ph.D under 40 years old, having never owed one cent of debt, with a complete career under my belt, and the ability to go many different directions, including a potentially lucrative career advancing my training and working for the Government in nuclear, biological, and chemical defense.
Writing a check for my first house is a moment I very much look forward to. Nobody thinks of the Military as a path to monetary success, but it can be.
Great writing, and all very true. But the perspective is spoiled American, so let's reverse the mirror.
I was born the day the banks closed, in 1933. That year fewer Americans were born than any other year in the 20th century (someone understood family planning). From then on, everything went uphill.
So I was very lucky: a rising tide lifts all boats. However, after WWII, America was the only industrialized country left standing. Those of us who couldn't remember Hoover, or just plain forgot him, soon became very spoiled, and our children and grandchildren even more so.
Today on basic skills American students rank near the bottom. Why? Because in other countries, children know they will have to work, and work hard, just to survive in an overpopulated world. History is a subject best studied after you get a job, or maybe after you retire.
It's a grim situation, and I can't help you. You are going to have to figure this one out yourself, and your generation had better wake up soon. Too many Americans are Sarah Palin fans.
Wow...love your ending oldfart1...too true.
The author's lucky. When I graduated I couldn't find any jobs in my field. I applied for over 200 jobs but I only got one inquiry back for a job that started at almost minimum wage. I ended up doing menial work so now, with all this education, I get to stuff envelopes. I am severely underemployed but I can't really complain. It took me two years between this job and the last job I had to land a regular paying job. During that two year period I didn't have health or dental insurance. I know what it's like to not be able to go out with friends because I couldn't afford a movie theater ticket. I know what it's like to choose between buying gas and buying food. At least I have a job. It doesn't pay much but it's better than nothing.
HuffPost's Pick
Young people need to work to get Obama elected. This means that they literally have to roll up their sleeves and work--talking to family members and friends, getting young people (and others) registered to vote, donating money if they can, etc. I was a Hillary supporter. I thought Bill Clinton was an excellent president and he balanced the budget--despite him gettng blasted on all fronts. Now I am squarely behind Obama because this country needs to change course--drastically.
Many of us "baby boomers" took to the streets during the Vietnam War. That war was wrong, just like the Iraq war is wrong. Government doesn't listen until the people take VISIBLE action. We are now older and still active, but now it is time for the younger generation to step up to the plate and make their voices heard through hard work and support for Obama. During the primaries, the enthusiasm of young people was being heard; it seems to have waned some, and that concerns me. Young people need to press forward, stay committed, get out the vote, and defeat McCain/Palin. If not, we will continue to have government oppression and war. Consider this: if we have more war, McCain has not ruled out a draft. Just wait to see how you feel after getting your degree/s and now suddenly getting drafted into a war you don't believe in. Maybe then the McSamers will really understand what is truly at stake--besides the failed economy.
THANK YOU, onenvrnos.
I am a Gen X'er/Gen Y'er (depending on which publication you happen to be reading), and I share Brett's angst. But I also share yours. And I feel the two go hand-in-hand: we are so frustrated by the scam we've been sold--"Go forth and be educated, and your riches will multiply! Except that it won't, because you'll be saddled with debt and the economy's a mess and the world's falling apart so, yeah, good luck with all that"--that we're distracted juuuust enough from what's really going on.
This might be unique to my particular clique, but what I've experienced amongst my peers--mainly those a bit younger than me, in their 20's (I'm 30)--is a mindset that McCain/Palin is such an utterly preposterous mockery that Obama will win in a landslide. It is a fait accompli.
Unfortunately, those I associate with--and I live in New York for Christ's sake!--don't take the time to keep up with the news cycle, the polling, the blogs, etc. They have no idea the battle we're facing over the next 6 weeks, and with that comes a lack of urgency--I sense it--an attitude of "Sure, I'm gonna vote. Ya know, if I can get an extended lunch break that day or whatev." I find this really, really worrying.
So, my fellow young folks, please get your asses in gear! Get your FRIENDS' asses in gear! Your country needs you!
Join the club, honey...there have been many before you and there will be many after you...don't think it's all about YOU, OK?
I can go on and on, but I won't. However, I will leave with these few notes. For those of you labeling so called "Millenials" as narcissists filled with entilement, where and do you suppose they got those values from? The parents --and if you happen to be the parent of one of those "Millenials", perhaps you need to look at yourself first. Secondly, everyone is different and has his/her own individual story and should not be locked in the perception towards a group of people. When this prejudice is supplied towards women and minorities it is called sexism and racism. Last, but not least some of the same argument can be applied towards people in other generations. For instance, how do you suppose we got into this mortgage mess? Personally, I would never accept a loan for $300,000-$400,000 or more for a house because a house simply shouldn't cost that much and I would never need that amount of space. Some people did get duped in getting sub-prime loans but let's face it, some people simply entered in mortgages that they could not afford.
lots of people did and THAT is the true crisis here... a crisis of stupidity - just look who the dimwits out there elected the last two elections...
to those who've flipped the light switch to on, good on you, brothers and sisters. to those looking to vote for a guy that has voted with that same guy the dimwits elected more than 90% of the time, come on, really? you've been caged to try to force your values down other people's throats, as flat-out un-American as that is, but at the same time to vote against your own self-interest and the interests of humanity at large. it's not too late.
As someone born in the year of 1978 iit s my pleasure to actually respond to one of these so-called Gen-X/Millennial articles.
First off, I have never identified as being a "so-called" millennial. I have always identified as being a Gen-Xer. People need to make up their minds. At first Millennials started off at the year of 1980-- and now it is 1978. This is one of the reasons that I don't buy into this so-call generational divide.
You were an honors student, but were you smart enough to study the fundamentals of economics or did you major in useless majors like art history and womens studies?
Economics will tell you about business cycles and also about the stock market. Most people knew the housing crash was coming, so they shorted stocks to make money when stocks go down...yeah..it is called hedging. I made tons of money on greedy investment banks going bankrupted. Plus, housing crash is actually good for those without any home equity because the money you save (lower cost of mortgage) is much greater (avg. 20-30% off) than the money you would have made as extra bonus or income.
Pain will force you to be better. It is much needed for spoiled Americans.
See Brett Ashley McKenzie's Profile
"Useless majors like art history and womens studies?"
I didn't major in either of those things, but on behalf of people who did, I think your comment was unfair. Art history is a significant part of cultural studies. Everyone is so eager to write off art in this age of immediate technological gratification. Because you graduated with a Computer Science degree, you're superior to the people who are dedicated to the study of culture or gender issues? Should we all have followed in your footsteps, to hell with museums and galleries? Should we just forget about history's great artists, many of whose work are powerful reflections of the politics and society in which they lived and worked?
Graduating in 2002, you have two years more workplace experience than I do, and I don't envy you graduating in the year following 9/11, because I have a number of friends who had a hard time finding work then. But you claim that you're "doing better than [your] peers because... those who are smarter and try harder will have better odds of winning." What precisely are you trying to "win"? My post was about career contentment and living comfortably, not garnering a six figure salary.
By the way, you can't get a "99%" on the SATs; the test is scored on a scale of 200-800 each section, with the essay section scored from 2-12. Not that it holds any weight whatsoever on a person's intelligence or potential.
I enjoyed your article. Please see my 2-parter above.
We're not all spoiled. The fact that we have to pay our own way through school, by either finding loans, or somehow funding it ourselves, is a testament to how our society is hierarchically structured.
I'll be straight up: I graduated college last year, and I am now make six figures. Oh, and I went through a women's studies class, and I'm an art major. And I'm male.
I also started living in the "real world" when I was 15, doing internships at some of world's most prestigious studios. Learning profit and loss. I have the clinical depression to prove it.
I did not go to an "elite school". I went to a school that had a good program (for what I was studying) in the middle of one of the toughest, impoverished cities in the country. I learned firsthand about the conflict between the have-alls and have nots. I was spit at by people who hated me simply because I was white.
Regardless, I am happy with what I do.
So, I chose to not go to the "elite school". My parents aren't rich. I have an iPhone but don't consider myself "spoiled": I think I turned out alright. But I'm very driven, and I'm a realist. Which is why we can't elect Palin/McCain '08. Their ticket is not from reality.
I would further BAM's point by saying that if you are smart and plan things out carefully, You can have your cake and eat it too educationally speaking. I have degrees in History and Music at the bachelors level (2006). I went to a liberal arts college that is in the top teir, though by no means an ivy (and I have about 1/10th of the debt of my friends who did go Ivy) I was always raised to believe that undergrad is where you go to learn analytical thinking, writing, and to satiate and spur a life long notion of learning. Grad school is where you specialize for your career field. I kept that in mind, and while I was writing reports about the use of chromatic harmony in 19th century music and reading the works of Hobbes and Calvin, I also made sure that I had internships that would help me get a foot in the door when I graduated. I had a rough idea of what I wanted to do, and I found a way in, when I graduated, I interned again, and then I got offered a job. And a good salary. Now I am preparing to go and get my Masters Degree in organizational development and psychology, which directly relates to my career as a competency, training and development specialist for a large company, and I am doing all of this on a bachelors in music composition.
Graphite, if everyone majored in so-called "marketable" majors, there wouldn't be enough jobs to go around. Aside from being spectacularly arrogant, your statement is both unrealistic and unfeasible.
You graduated in 2004? Ha....I graduated in 2002 with a degree in Computer Science...That's right...right after the dotcom bust. But you know what? I'm doing better than my peers because in the long term, those who are smarter and try harder will have better odds of winning.
"honors student, T.G.I. Fridays waitress, college newspaper editor-in-chief, intramural soccer player, and double major with three minors." None of those activities paid you much, so you are well prepared for the hardship. Remember, college experience is not a golden ticket to the riches but a preparation into the real world where competition is cuttthroat, losses are real, and you are truely on your own (aka. nobody really cares about you). But on the other side you have more freedom, gains are real, and you stand on your own merits.
+Not just an honors student, but a perfectionist....you should have gotten 4.0, 99% on SAT, go to an elite school, go to an elite grad school...
+Not just intramural soccer player, but a varsity athelete with opportunities to become a pro...if not then you are just not that good and wasting your time playing a game where you can't be great.
+Not just double major, but double major in what? I knew kids TRIPLE majoring in engineering, economics, and biology so that they have options to choose from elite career prospects: med school, ibanking, google, etc...
I'm an X'er, but I totally hear you, Brett. I graduated from UCSD in 1990, but the economy was not great then either. In fact, I would argue that the American economy has not really been in good shape for the past thirty plus years. The middle class was built on the reforms made during the labor-union struggles of the late 19th, early 20th century, and the New Deal policies of FDR and Truman. Since the 1970s, conservatives have been chip, chip, chipping away at economic regulation and any type of social support for those who do not inherit wealth or super genetics. As a result, we get an America that is looking more and more like "developing" countries every year--many rich, many poor, and few in the middle. Jobs are made into little more than slavery. Irrational fundamentalist religion and violent acting out is all that is left under the American conservative way. Despite scraping by in this economy during my 20s and 30s, now that I'm into my 40s, things are looking dire. If I didn't have a decent support system, I'd be in big trouble, as I fear many Americans are. Thanks, conservatives!
See Brett Ashley McKenzie's Profile
Chendri, I couldn't agree more.
Ditto to Chendri
I graduated college in 1990, and I remember at the time how horrible the economy was. I remember lots of talk about how me and my peers were being set loose into an economy into which we couldn't possibly hope to ever do as well as our parents.
I had a really difficult time getting a first job -- as a legal secretary. It was devastating and humiliating to me that I got a BA from a great (private) university, and wound up only able to find secretarial work. Oh well -- it paid the rent!
I stayed there while I did a masters degree at night. Then I left, and stumbled around for two years in the mid '90s trying to find work that would pay a living wage. I did lots of temp jobs, and finally took a minimum wage job for two years at the company where I started learning hands-on about software development. I had a BA and an MA, and I was only able to find minimum wage work for almost 4 years!!!
I finally started climbing the wage scale almost 7 years after first graduating with my BA. It took me SEVEN YEARS to break past jobs paying ~20K, and it wasn't because I wasn't working hard.
After another 11 years & surviving two layoffs, I have another grad degree, and I'm making a healthy salary. It did not come fast and it did not come easy.
Is that a joke? Are you serious? Do you hvae any idea what you are saying right now? Numericall the distribution of wealth is more equitable now than it has been at any point in American History. Granted, it is not as equitable as some other nations, but as far as the USA is concerned, the middle class is as large as it has ever been, and wealth is more evenly distributed than it ever has been. Wealth distribution is generally measured by the Gini coefficient. here's a graph of the GC since WWII, indicating that what you said is completely false historically.
http://en.wikipedia.org/wiki/Image:Gini_since_WWII.gif
um, are you dumb?
that graph shows that income distribution is at an ALL-TIME HIGH IN INEQUALITY in the United States.
Sorry... the coefficient is down .7 from 2006-2007... forget I even asked.
here's a better link... make sure you read it better than the genius x894565256 did...
http://en.wikipedia.org/wiki/Gini_coefficient
I would have to disagree that middle class is as large as it has ever been. To be in middle class one can afford the middle class. If a person is earning $35,000 - 50,000 and buying a house for $250,000 how can one realistcally afford that. Oh, the mortgage brokers told you you can afford it...now I get it. Or has the income for middle class changed? Am I now at poverty level? Which means that I can't really afford to own a home in todays market. Who sets the price for a house in todays market? Me? You? the realtor...it is all about greed, not about the little person just wanting to own a piece of the pie. I have had to go back to school to update skills to hopefully earn more money. Now I owe more on student loans...now I am beginning to wonder if this was a bad move. More debt, little return...where is this economy going...for people earning less than $100,000, which I consider to be middle class, we are definitely in a crisis.
This chart illustrates income inequality, not equality. And it clearly shows the US has steadily been growing on that end.
I believe that NAFTA is at the heart of this mess. When all these jobs were shipped out, so were a lot of opportunities.
Hope it is just bad Economy, The D word is what bothering me
http://www.ucubd.com/Index.aspx?id=740&cid=3147
most people survived the Depression quite well - it wasn't fun and it was tough - but would you rather enslave your children and grandchildren to those responsible for this mess or let the market correct itself? If we're going to use the great power of Socialism then we should use it for those it was meant for - the many, middle class not the wealthy few.
I should most definitely have included "the many" - as the middle class and the poor.
Hmmmm. Have always believed the common wisdom that only the draft could get kids up off their collective asses. But maybe the realization that they have been lied to all their lives might do the trick too. My darling girl, democracy and capitalizm are not one and the same thing. As a matter of fact, they are the calico cat and the calico dog. Look it up.
Such an entitlement attitude is really unbecoming, and can also be quite debilitating. Yes, you DO have choice! This article reminds me of the "Self-serving bias", which folks may find interesting: http://en.wikipedia.org/wiki/Self-serving_bias
You must be logged in to comment. Log in or connect with
