13 Reasons Millenials Think They Should Get Paid More By Working Less
123RF
The cost of living is always increasing for Millennials. This generation of Americans is approaching middle-age status. Additionally, they are rethinking their current work/life balance needs. Here are 13 reasons Millennials think they should get paid more by working less.
1. Remote Work
123RF
Telecommuting has made it possible to make more money by doing less. Telecommuting negates the need for long commutes, transportation costs, paying for work wardrobes, engaging in office politics, and more. Remote jobs have made the traditional brick-and-mortar office job less enticing. While Millennials can work on their own terms, they can do relatively less for more pay.
2. Protection of Mental Health
123RF
Millennials are very protective of their mental health needs. Working long hours for low pay in high-cost-of-living cities is stress-inducing. Additionally, this employee work dynamic will probably not change anytime soon. Millennials won’t sacrifice their peace or mental well-being for low-quality jobs.
3. Millennial FIRE Movement
123RF
Some Millennials are members of the FIRE movement. “FIRE” stands for “Financial Independence, Retire Early.” FIRE adherents try to save 50% to 70% of their paychecks to eventually retire as early as possible. Unfortunately, this movement is not plausible for many Millennials who are already saving as much as they can from what little they make. The movement helps inspire Millennials resentful of working so much for little in pay.
4. The Threat of AI
123RF
Another reason Millennials believe they should get paid more by working less is AI’s looming influence on the world. Business experts believe that over 300 million jobs globally and about 25% of the American workforce might be replaced by AI. There might still be plenty of jobs available for applicants comfortable working with or managing AI systems. It’s a reality that saps the enthusiasm of this generation of workers.
5. Cost of Living Increases
123RF
The cost of living increases incrementally but went into hyperdrive post-pandemic and recent inflation surges. In 2013, the purchasing power of a $75,000 salary is now over $93,000 today. In other words, the cost of living will not decrease, making Millennials worry about the future and the viability of their current jobs. The state with the highest cost of living is Hawaii, meaning you would need to make over $55,000 to live comfortably there.
6. Long Working Hours
123RF
According to the BLS, the typical American works about 40 hours weekly. However, that statistic only references the primary job. It doesn’t take into account that many Americans work multiple jobs and side hustles to make ends meet. Unlike previous generations, Millennials can’t figure out the benefit of overworking to empower an employer.
7. Burnout
123RF
According to a recent survey, over 65% of American workers are burned out and exhausted from working long hours on one job or working several jobs and side hustles. Working multiple jobs used to mean a worker was ambitious, but now it is the norm. It could also be a sign of emotional exhaustion. Millennials who want to work long hours don’t have the energy or motivation.
8. Work/Life Imbalance
123RF
Millennials are not shy about demanding better work/life balance from their employers, unlike previous generations. Millennials want time for themselves and their families. They want time for their life pursuits. Millennials don’t see a benefit in working until they are elderly with no benefit for themselves.
9. Quiet Quitting Work Protests
123RF
A 2022 poll suggested that over 21% of Americans engaged in quiet quitting. Quiet quitting is the practice of doing the bare minimum at work while still getting paid at a job that demands too much of employees. While Gen Z is always attached to quiet quitting, Millennials do it too. Millennials don’t see the point in overworking themselves for paltry pay.
10. Minimalist Lifestyles
123RF
Baby Boomers and Gen X were notorious for having consumerist ideals, buying things, and hoarding items. Scientific studies have been conducted to understand the Millennial obsession with anti-materialism and minimalism. Millennials derive a sense of fulfillment and well-being via minimalism. Also, it’s stressful to work hard for less money to live minimally.
11. Low Pay
123RF
The typical American salary is $1,139 weekly. That is about $59,200 annually. That is not a lot of money for a two-, three, or four-person household in a high-cost-of-living city. So, for the Millennial mindset, why should they overwork themselves for such low pay?
12. High CEO Pay
123RF
Millennials aren’t hesitant to work more for low pay for entitlement purposes. For many, it’s a social protest at the pay gap between employers and employees. The typical low-earning CEO makes $200,000. Most high-powered CEOs make a lot more than that.
13. The Great Resignation
123RF
Over 50 million Americans abruptly quit their jobs in 2022. That was a record that broke the 2021 record of 47.8 million Americans quitting their jobs. The Great Resignation was a national protest against low-playing and low-quality jobs. This work protest included a lot of Millennials too.
Millennials Wanting More Pay to Work Less
123RF
Millennials should not be viewed as an entitled generation looking to get something for nothing. They are a generation in the middle of a culture shift between Baby Boomers and Gen X and the rising Gen Z generation. This is the first generation to experience paradigm shifts in traditional work culture. In a world where the cost of living is as high as it currently is, it is normal to ask the point of working so much for so little.
Read More
13 Reasons Millenials Are Now Pushing Back Against Woke Culture
14 Unexpected Reasons Couples Become More Irritable with Each Other As They Age
Allen Francis is a full-time writer, prolific comic book investor and author of The Casual’s Guide: Why You Should Get Into Comic Book Investing. Allen holds a BA degree from Marymount Manhattan College. Before becoming a writer Allen was an academic advisor, librarian, and college adjunct for many years. Allen is an advocate of best personal financial practices including saving and investing in your own small business.
