Tag: millennials

Competent, hardworking millennials are getting shafted by older employees who feel they deserve bigger salaries

startup entrepreneurOn Friday, a Yelp/Eat24 employee wrote a lengthy blog post to her CEO, Jeremy Stoppelman, about her compensation, which she said came out to about $8 an hour after taxes. A few hours later, she said she was fired. This created a hot debate about how expensive the Bay Area is to live in, and whether or not companies should pay entry-level employees more.

One millennial-age woman, Stefanie Williams, wrote a response to the former Yelper, Talia Jane, accusing her of poor priorities and work ethic. The letter was first published on Medium and then on Business Insider, and it went viral.

One of our readers has written a letter to both women arguing that there’s a larger problem: Older workers are paid too well, often for no reason other than that they’re older.

Dear Editors (and Talia and Stefanie):

I’m writing in response to the now quite popular open letter to the former Yelp employee Talia Jones written by the slightly older, but apparently much wiser Stefanie Williams.

Bashing millennials and shaming those who claim to be struggling financially has grown in popularity, seemingly in response to public attention on income inequality. It seems born of jealousy that younger generations will be handed a better shot at the American dream than we had. I believe that jealousy is natural, but should be individually suppressed for the good of our country, not revered in a business media outlet.

In college, I worked three jobs to pay rent and try to reduce the debt I was taking on. I skipped a year of the college experience, taking the max number of hours each semester so I could graduate early to save a year of non-credit based fees. I did all of this even with tremendous support, emotional and financial, from my family and the unfortunate advantages that come with being “a young white English-speaking woman.” The hard work didn’t end when I graduated; I lived in modest cities (definitely not “the City”) and when I moved to a larger one, I took a second job to support myself.

The difference is that, unlike Stefanie, I don’t wear this as some kind of badge of honor. It was what needed to be done in my particular case. I spent a few bitter years after college jealous of my friends living in NYC who could afford the luxury of unpaid internships. But I’ve matured to know that working that hard to get by should not be the norm and I’d love to see everyone have the opportunities I didn’t.

Cutting your teeth, working your way up, putting in your hours… Those are great ways for longer standing members of the work force to keep younger employees in their place. It’s not based on merit, but instead it’s the people in power holding the only thing they inherently have over young people as critical. You can work incredibly hard, learn everything about your craft, perform excellently at your duties, but you can never speed up time to match their years on the job. It’s a justification for bloating salaries of long-standing management, regardless of how ineffective they may be.

Basically what I’m saying is that if companies can pay CEOs millions, they can pay employees an actual living wage based on merit, not the number of years you’ve worn business casual. More than that, you shouldn’t have to beat the system to get an education and real life experience. Yes, Stefanie, I too worked very hard when I was younger. And I honestly wish no student or young person has to work that hard ever again.

Thank you for your time,

EEE Stevenson
Dallas, Texas

SEE ALSO: A Yelp employee publicly complained to the CEO that she couldn’t afford to buy groceries — hours later, she was fired

DON’T MISS: 29-year-old millennial rips 25-year-old Yelp employee who got fired after complaining about her salary

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NOW WATCH: 2 Millennials watched the original ‘Star Wars’ for the first time

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How Millennials are Changing The Global Economy

A population of 80 million strong in the U.S., millennials – those born between 1980 and 1999 – are breaking with tradition, changing consumption patterns, re-shaping the real estate market and fueling growth of the sharing economy.

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077: Buying vs Renting for Millennials

There are 80 million millennials out there and no, not all are lazy and entitled. There are plenty who want true freedom, prefer entrepreneurship to the 9 to 5 grind and are hungry for mentors who give them the real deal.

Grant Cardone and his millennial protégé, Jarrod Glandt target the under 35 crowd with the tips and insights they need to succeed in any economic climate. Between the loose laid back banter and the frequent references to Jay Z, Kanye, Led Zeppelin music and other pop culture millennial viewers consider Grant their “millennial mentor” and can’t get enough of Grant and Jarrod’s straight up no BS advice.

Take the time to do the math. Is it more beneficial to rent or to buy?

You need to listen to the Godfather of Business.

Renting fears:

• Could be paying down debt

• Wasting their money

• No write off

Renting vs Buying Young Hustlers

The home is no longer a primary investment for people. You need to be nimble. You need to be able to go where the opportunities are. We aren’t in a time of picket fences and living in one town your whole life.

The government wants you fixated in a place so they can depend on you.

Listen to the full episode to hear the rest of their awesome tips on renting versus buying.

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059: Why Millennials Are Broke

Grant Cardone and Jarrod Glandt address Millennials and all of the bullshit information that’s being passed down to you. They found an article, originally posted on Inc.com that is literally titled, “5 Reasons You Shouldn’t Get To Work Early.” They discuss how ridiculous this is and talk about the four reasons why you are broke and how you can fix them.

“You are never paid what you’re worth.” – GC

From the Article:
5 Reasons You Shouldn’t Get To Work Early
1. Nobody likes a “thirsty” employee
2. You’re alienating colleagues
3. You seem like a pushover
4. You’re not management material
5. You’ll be taken for granted

The above list is complete bullshit.

From Grant:
4 Reasons Why You’re Broke:
1. You’re only making enough money to live.
2. You don’t have any emergency funds.
3. You have no money to invest.
4. You have no choices because you have no money.

“Money is the currency of choice.” – GC

Chocolates last 10 minutes, roses last a few weeks, a teddy bear just gets in the way. Go to GrantCardone.com or WITNation.com and use the code: 50LOVE to get 50% OFF of the ENTIRE STORE.

“You don’t have a debt problem. You don’t have a spending problem. You have an income problem.” – GC

Don’t be mediocre in a bunch of different fields. You need to become great at one, build it up, understand it completely, and then take a step into another field.

When you are in your 20s, get a job that makes you money, whatever it is. It doesn’t matter what it is. Make a decision and go at it full force. Don’t wait to figure it out, or question if it’s right for you.

“Move fast. Don’t drag ass.” – Jarrod Glandt

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057: Why Millennials Must Take Risk

For the first time ever Jarrod Glandt is hosting Young Hustlers solo! That’s right, he’s taking the reins and addressing the topic of risk—and how it’s your biggest opportunity!

Getting your piece of the ‘American Pie’ by taking more risk.

For some reason Millennials are failing to launch. The truth is, nothing you ever really want is something you get without taking some risks. And if you crash and burn, how bad is it really?

We also recognize Heath Powell and Todd Straugh and discuss the huge personal risks they took to join the Grant Cardone sales team. They showed an extreme amount of courage and commitment and they just got promoted to management yesterday after showing that courage every day at the office and on the road.

Risk:
1. When to take it
2. Why you take it

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041: The Best Financial Investment for Millennials

Grant Cardone and Jarrod Glandt encourage millennials to invest in themselves and increase their income. What are Millennials doing with their money? Reports say they are conservative savers and this can hurt them. Grant and Jarrod explain that it is vital that millennials stash away money so they can then invest it in something that will generate additional income. Grant explains the difference between baby money and baller money, at least $100,000 that can be used for investment. He explains when millennials have 5, 10, 15, 30, $40,000 they should focus on investing in themselves so they can get around big thinkers and ideas that will generate more income. Millennial Money Tips Include: 1. Invest in Yourself! 2. Focus on growing your income. 3. Do not overspend. 4. Save more to invest with. Grant and Jarrod explain that everyone is looking for the shortcut and there isn’t one. Spend energy in making yourself known in the marketplace and advise a caller to do this exact thing. Other callers get advice from Grant and Jarrod. Tune in to get the sound advice you need to make the most of your millennial money.

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017: Are Millennials Really Different

Are Millennials Different? Lazy, Entitled, Cant communicate, Job hoppers, Not Loyal, Poor work ethic.

But Are they actually any different Different Than Other Generations? Derek Irvine writes in Millennials aren’t Entitled They’re Just Misunderstood. Tired of hearing the myths about Millennials in the workplace (entitled, need constant praise and reassurance, difficult to manage)?

Harvard Business Review:

Millennials are entitled, disloyal, and lazy. And they expect things to come easily to them.

These are common beliefs that many managers hold.

Harvard Business Review says. it turns out, aren’t nearly as entitled as we make them out to be.

In fact, “most are ambitious, and look to make a big impact in their careers right from the start. ”

But managers can sometimes misconstrue this as entitlement.

CRASHING MYTHS

23% of all millionaires are Millennials

bout 5m millionaires

Gen X only 4 million

Disloyalty.

EVERY generation when they were young and new in the workplace.

Boomer managers said that about me as a young Gen X employee.

How HARD WERE YOU TO MANAGE AT 25

TECHNOLOGY

Millennial employees have never lived a day without technology

It is up to managers to KEEP up not misunderstood young people.

This isn’t generational behavior, it’s stage of life behavior

Take Away

They aren’t different

They need leadership

They need inspiration

All NEW employees will seek recognition and feedback.

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015: Why Millennials Should Never Trust Anyone

The new Pew survey of millennials presents a portrait of young people that is both depressing and optimistic. Millennials, young adults between 18 and 33, are low on social trust: Just 19 percent believe that “most people can be trusted,” compared to 40 percent of Baby Boomers and 31 percent of Generation X.

Why are young people less trusting than their elders? The Pew study offers several hypotheses:

Racial diversity. Minorities have historically been less trusting than whites. The millennial generation is far more diverse than their elders — 43 percent are minorities. Internet usage: Millennials are strongly connected to online communities and friends. The average millennial has 250 Facebook friends. Strong Internet connections may lead to closed social networks and a wariness to put too much trust in people who are not part of your network. Pessimism for the future. However, the Pew study finds that millennials are upbeat about the country’s future and their own prospects for financial success. But we should reconsider these conclusions. My research strongly suggests that economic pessimism, not racial diversity or the Internet, is the key to explaining lower trust.

The first two explanations seem plausible, but they gather little support from the data. The Pew data are not publicly available, but Pew’s surveys use the same trust question as the General Social Survey (GSS): “Generally speaking, do you believe that most people can be trusted or can’t you be too careful in dealing with people?” In the 2012 GSS, 19 percent of millennials expressed trust in others, the same as the Pew survey.

The main reason to discount racial diversity is that it cannot account for the generational decline in trust among whites. Minorities have always been less trusting than whites — not just in the United States, but virtually everywhere the question has been asked. But unlike among whites, the trend among minorities has been fairly stable over time: minority young people are slightly more mistrusting than their minority elders, but the difference is small (5 percent). Although the increasing share of young people who are racial minorities may lower trust overall, it does not explain the key trend: why each successive generation of whites has become less trusting — with white millennials almost as mistrusting as minorities of any age. Roughly 22 percent of white millennials trust others, compared to 16 percent of black/non-white millennials.

There is also little reason to blame the Internet for lowering trust. I have shown (gated) that there is no relationship between Internet use and trust. And the logic behind this linkage is suspect. Most of our interactions on the Internet are with people we know. Generalized trust is all about having faith in strangers — and there is no clear way to go from one form of trust to the other.

This leaves economic pessimism. Although Pew noted that young people are fairly optimistic about their future, the key question is not whether you believe that you will succeed in life. Through thick and thin, Americans have been optimistic about their own abilities to overcome obstacles to success. What matters most are relative expectations.

Here, the pessimism of millennials stands out: relative to Baby Boomers, millennials are more likely to say that their generation is worse off than their parents. Millennials also worry that “today’s young adults face greater economic challenges than their parents’ generation faced when they were starting out,” as stated in the Pew report. And fewer millennials now consider themselves to be middle class (42 percent to 53 percent in 2008). More millennials now see themselves as lower or lower-middle class now than in 2008 (46 percent compared to 25 percent).

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012: How Millennials Can Get Rich

NY Times bestselling author Grant Cardone discusses the top money mistakes millennials make. Viewers and listeners share the mistakes they’ve made with money. Grant Cardone and Jarrod Glandt begin the show explaining the there are many money mistakes millennials may make. Jarrod admits that he once bought 25 strangers at a bar shots of Patron tequila. Grant explains that it is important for people not to put their attention on the wrong things. He urges millennials to think about the life they want and then work to build wealth to achieve true financial freedom. Grant and Jarrod discuss these money mistakes: 1. Settling, not striving. The wealthy never get enough wealth and never seek comfort. They seek freedom and abundance and always strive for more. 2. Diversification. Andrew Carnegie said, “the way to get rich is put all your eggs in one basket and then watch that basket.” 3. Depending on one income flow. 4. Comparing yourself to others. 5. Seduced by the hottest, newest, thing. Avoid investing in any companies that can be displaced by new technological developments. 6. Naïve and too trusting. 7. Saving to save. To create wealth you must move surplus money into investments that will create more income producing activities. 8. Being a premature baller. On the other end of the saver is the spender, the one who is trying to impress others with their cars, clothes and watches.

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