Millennials Have Bagged Maximum Managerial Positions; But Here's why They are Unhappy
The plight of most millennials in America was beautifully put into words by Anne Helen Petersen, author of "Can’t Even: How Millennials Became the Burnout Generation." "We’re trying to build a solid foundation on quicksand," she wrote back in 2019, and noted that her cohort of young adults was most definitely experiencing severe burnout. Half a decade later, leading media brands like Fortune are still talking about it. Therefore, it's safe to say that millennials are still the most dissatisfied lot when it comes to a work-life balance.
On average, an employee rates their job satisfaction around 5.5 out of 10, as per a Forbes survey. But, it's not the most junior employees but also people in their mid-30s who feel the most miserable in their workplaces.
Millennials, the generation that spearheaded the hustle culture in their 20s have now bagged managerial positions and have recently started finding out their hustle does very little when it comes to overcoming economic fatigue. Reports also found that while millennials now own more homes than ever, they are still holding far less wealth than what boomers did at their age despite making high salaries, per CEPR.
A major reason why millennials feel burnt out at work is the fact that they make up a large portion of the managers in many organizations, and are stuck somewhere in the middle.
Millennials recently started talking about their work life and rated their job environment and workload very poorly. They rated their job satisfaction a poor 4.6 out of 10 on average as per Fortune. With economic discontent peaking, many have lost faith in their profession.
"After collectively facing our mortality for such an enduring length of time, it’s changed the workforce – perhaps permanently," workplace expert and author of "Unlocking Happiness at Work," Jennifer Moss tells Fortune. Data shows that employment engagement has plummeted quite a bit in the last decade and Moss notes that people are simply not happy in their lives outside of work, as indicated by the reports of social anxiety rise.
People hardly say that they like their jobs anymore and only 16.2% of employees have a job satisfaction of 8 (out of 10) or higher, according to a survey. Millennials form the biggest share of the workforce and they have also climbed the corporate ladder in the past decade, but aren't really having any fun.
“Millennials have gone through several financial crises, some are still paying off school debt, while many are juggling young families, which was an enormous challenge in the pandemic," says Fisher.
Another CNBC report shows that nearly half 48% of 18 to 29 years old said they feel drained compared to 40% of their peers aged 30 and up. In the report, it was also found that women are way more susceptible to burnout as compared to men.
The main reason why Gen Z as well as millennials are stressed out lies in the way they grew up. "Younger millennials and Gen Z were raised with a lot of pressure to be high achievers, but are starting their careers in a chaotic landscape where they have little autonomy and freedom to find a meaningful, well-paid job,” Debbie Sorensen, a Denver-based psychologist said.
