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What millennials value at work
Money is not as important as you'd think
By Katie Sherman Posted: 08/29/16 Updated: 11/30/17
Millennials don't live to work—they work to live. In 2015, they also became the largest generation in the U.S. workforce, according to the Pew Research Center. Now armed with a bigger soapbox, this very distinct group is voicing its dissatisfaction with traditional work obsessions. Instead, millennials value experiences, purpose-driven careers and community-building.
Among their goals: to work for an employer that emphasizes the importance of workers' quality of life.
Potential employees are considering how a company's offerings align with their personal hobbies and motivations.
No wonder many companies are quickly shifting their thinking. Clearly, big salaries just aren't the catch they once were. And benefits aren't limited to career development, generous vacation policies or even telecommuting flexibility. Today, interviewing with a company that offers employee benefits beyond 401(k) plans and stock options is no longer an anomaly. Prospective employees are considering how a company's offerings align with their hobbies, and even political views. They're asking about running teams educational allowances, and volunteer days.
According to the 2016 "Evaluate a Job Offer" study by Fidelity Investments, more than half of millennials would opt for these qualities over financial benefits: Millennials surveyed say they would trade $7,600 for a better work-life balance.
Of course, new graduates may not need to sacrifice their bank accounts for meaningful work. There's reason to be optimistic about finding job satisfaction with companies that support work-life balance. A shift is already underway. For millennials and their employers, the future of work is as much about people and purpose as it is about profit and promotions.
Visit www.jpmorganchase.com/careers to learn more about how you can build your career.
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Katie Sherman is a Brooklyn-based freelance writer. She has written about beauty and fashion for Vogue and Vanity Fair, among other publications.
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