At a time when many laid-off workers have to take a pay cut
to land a new job, members of the millennial generation are jumping ship from
their companies after just two years, according to a story by Tiffany Hsu at
the LATimes.
Millennials — 18- to 30-year-olds including those workers
just entering the full-time work force — are earning $39,700 a year on average,
according to a new report from the compensation data company PayScale and
research group Millennial Branding.
Employees on the younger end of this demographic are
starting with salaries of $21,000. Hit disproportionally hard by the recession,
the group is much more likely than older workers to be laying out merchandise
at retail stores, selling cellphones or performing other low-skill jobs,
according to the study.
And that's despite the generation's high level of education.
About 63% of full-time, professional workers in that generation have a bachelor's
degree, 12.8% have a master's degree and 1.7% have doctorates. Popular majors
include neuroscience, bioengineering, entrepreneurial studies, sport management
and Chinese.
The disconnect may be causing young workers to leave their
companies every two years. Baby boomers, by comparison, spend a median of seven
years with each employer, while Gen X employees — those born in the 1960s, '70s
and early '80s — spend five.
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