Younger job seekers hold the advantage (because they can do startups instead)

http://www.boston.com/jobs/college/articles/2007/07/08/in_todays_workplace_younger_job_seekers_hold_the_advantage/

by farmer • 19 years ago

13 16 19 years ago

Not a bad read, although I wonder what reality some of these writers live in. If we look at startup participation / entrepreneurism amongst, say, people under 30 years of age, is the percentage really that high on a national scale? If even 1% of 18-30 year olds are opting to run startups instead of getting a job, I'd be surprised (although I'd love some numbers!)

startupper2• 19 years ago

Good comment. A recent article from businessweek talked about the 10 top employers favoured by new grads. Three of them were fed. agencies, one established accounting firm, google, etc. New grads crave job security, comfortable lifestyles, cars, houses and growing bank accounts. After racking up large student loans you can't blame them. And this would be a major impediment to them starting a business in general.

I think this article refers to maybe 0.05% of new grads.

brezina• 19 years ago

Spot on. If you don't have rich parents you have to go into debt to attend private school. You HAVE to take the real job when you graduate.

I chose to be Joe State (@ motoko). I graduated in the black and was free to start a startup. I'm thinking it was a good decision. That and studying engineering. Thanks Dad.

mynameishere• 19 years ago

Some even have their parents in the room for added help, and many respected companies are willing to engage parents in the hiring process if that's what the candidate wants

(!!!)

Wow. Depending on the circumstances, I would escort the iddle bitty baby right to the front door, or...

Explain that nepotism is absolutely forbidden.

startupper2• 19 years ago

Welcome to the world of helicopter parents.

http://en.wikipedia.org/wiki/Helicopter_parents

http://www.usatoday.com/money/economy/employment/2007-04-23-...

sbraford• 19 years ago

Exactly. Man I wish I had rich parents, even helping out $10k a year or so could go a long way when you're fresh out of school and expenses are still low.

An ex of mine got something like $25k cash for her college graduation present. Assuming she earned 10% or so on that for the next 40 years, she was already guaranteed to be a millionaire by retirement. Anything she did on her own was gravy.

jamiequint• 19 years ago

One thing that bugs me about SlapVid is that it doesn't seem that they have much external pressure to succeed...

"Humphrey thinks of the MBA program he is now in as sort of a backup plan in case SlapVid does not take off at the end of the summer."

"Three out of four of the founders of SlapVid are getting financial help from their parents."

I think needing money, and knowing the consequences are having to get a "real job" are often factors that can help contribute to success.

patrickg-zill• 19 years ago

Ah yes, graduate school - the snooze button on the clock-radio of life.

mechanical_fish• 19 years ago

Are you arguing that an MBA program is not "a real job"? Sounds terrifyingly real to me. I'd work pretty hard to avoid that fate.

And I wouldn't be too quick to assume that "getting financial help from your parents" equates to being relaxed and unpressured. If you disappoint your angel investors, at least you don't have to hear about it at every Thanksgiving dinner for the rest of your life. :)

jsackmann• 19 years ago

More than anything, I think this is about all the money in the baby boom generation--gen y's parents. It isn't so much that most of our peers are deciding between

a) startup

b) 'real' job

but that there's another obvious option:

c) wait around for something better (possibly doing zilch in the meantime)

If mom and dad's basement is available indefinitely and you have no family obligations (wife, kids), there may not be any pressure to do much of anything. Personally, I can't imagine not having some kind of small business, but I think those of us who are actively entreprenurial are vastly outnumbered by those who actively mooch.

jimbokun• 19 years ago

As a parent of young kids, this was the most terrifying part of the article, if this trend continues. You mean my kids will still be living in my house after college, and I'll be expected to go to job interviews and negotiations with them?

motoko• 19 years ago

I smell bullshit. Note from the article:

> Companies are having a hard time recruiting and retaining young talent, and as a result are accommodating what would have once been considered extreme demands. ....so many younger workers have gained the advantage when it comes to negotiating the terms of a new job.

and

> Today, however, economists and sociologists see such homecomings as a rational response to exorbitant housing prices in big cities, and entry-level wages that do not cover living expenses.

So which is it? Employers can't find employees, or the labor market is so oversaturated in big cities that entry level positions don't pay living wages?

My guess is that every company only wants to hire "the top 5% of graduates." So competition for the perceived best (ivy league, specialized skills) grows while Joe State and Cathy Community go chill with the folks and work at Walmart.

EDIT: how do you make block quotes?

myoung8• 19 years ago

The general point of the article is spot on. I've heard that it's getting harder to retain top talent first hand from a lot of corporate recruiters.

I think the only problem with the article is this part:

"Many young people want their own businesses. The barriers to starting an Internet business are low."

The barriers to starting a one-feature company are low, but the barriers to starting a REAL business are still relatively high. Unfortunately it seems like there are still people out there who don't realize this, but even then, they account for a minority among all young jobseekers.

Younger job seekers hold the advantage (because they can do startups instead)

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