We’re Millennials. Which means we graduated from college in 2009, just in time for the Great Recession to really fuck with our job prospects and salary levels. Nevertheless, we persisted, managing to carve careers out of the bleak post-recession landscape, a feat that eventually led to us being amateur career advice-givers right here on the internet!
I lead with all this because circumstances are feeling… familiar. The COVID-19 pandemic has hammered Gen Z especially, just as they’re starting their careers and building independent lives. And no matter your age, the pandemic took a toll on a lot of folks’ livelihoods. They’re facing challenges like what we experienced, and we hate it. So our time has come! Learn from your slightly-elders, younglings!
Graduating in a recession leads to earnings losses of about 9% compared to those who graduate in balmier financial climates. The pay gap takes a full decade to become statistically insignificant. For the average worker, that amounts to five grand in a single year. The lost opportunities to invest some of that income—as well as the recession-graduate’s stymied options for other jobs—creates a staggering wealth gap.
Worst of all, it’s completely fucking unfair, because those affected were kids when this hot mess was cooked up, yet still the ones who have to eat it. You have every right to be salty about that.
So here’s what we suggest you do to get yourself back up to the level you deserve.Read More