That may seem snarky, but it’s true. Despite efforts by firms like JPMorgan hiking entry-level pay, it remains to be seen if it will be enough to attract young people to come and work with them. It’s true, many are not attracted to the extreme hours required to do the job. It’s more than that, though. As Bloomberg argues, the real reason…
… isn’t only the hours. All the exciting work has been regulated within an inch of its life, leaving millennials and Gen-Z employees searching elsewhere.
And that is great news. It means regulation of banks is working. Sure the work is boring. Boring banking is stable banking. After the Great Recession of 2008, the last thing we need for a long time (i.e. eternity) is exciting banks.
Let the young people looking for exciting careers look elsewhere. Let them go join firms and fight climate change, pandemics, world inequality. Leave the people looking for stable jobs to go into banking. Everyone wins that way. Even the banks. (Ask the people who used to work at Lehmans if you disagree.)
(Photo by Sean Driscoll on Unsplash )
I love this piece: Chinese millennials are rejecting dull factory jobs — and transforming the economy – Los Angeles Times.
Why? Because it affirms my view that people are largely the same when it comes to certain demographics.
I say “largely” because there are differences. Chinese millennials will still have differences with millennials in Serbia or Canada or Kenya or Peru due to culture and geography. But there are many similarities. Going through that piece in the LA Times, I kept reading the quotes and thinking: that’s true for young people here too!
People ignore age demographics all the time, as if young people — not to mention older people — have different interests and drives in different eras and in different regions. Don’t be one of those people. 🙂
For anyone starting out on the road to being an independent adult, the book Adulting (from Hachette) is a good guide to have. It is packed with tips – 468 to be exact – on pretty much any experience you are going to go through in your early 20s. If this is you or someone you love, this book will have an obvious appeal.
It’s not just for young people though. I think all adults could benefit from parts of the book, especially if you are having to start out on some adult experience that is either new to you or something you haven’t done for some time. It’s good advice, and good advice never goes out of date.
Even if you don’t need good advice, read it just for the humour. It’s a very funny book. (Note, there is a fair amount of profanity and references to sex, but if that doesn’t bother you, then you’ll be fine.)
Finally, if you want to have a better understanding of what life is like for that young person you know, this book can help you achieve that.
By the way, if you want a preview of it, you can check out the Adulting blog. Also very good.
I was killing time in a bookstore last night and I thought it looked good. I ended up reading it from cover to cover.