

Younger job seekers hold the advantage (because they can do startups instead) - farmer
http://www.boston.com/jobs/college/articles/2007/07/08/in_todays_workplace_younger_job_seekers_hold_the_advantage/

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motoko
I smell bullshit. Note from the article:

> Companies are having a hard time recruiting and retaining young talent, and
> as a result are accommodating what would have once been considered extreme
> demands. ....so many _younger workers have gained the advantage_ when it
> comes to negotiating the terms of a new job.

and

> Today, however, economists and sociologists see such homecomings as a
> rational response to exorbitant housing prices in big cities, and _entry-
> level wages that do not cover living expenses_.

So which is it? Employers can't find employees, or the labor market is so
oversaturated in big cities that entry level positions don't pay living wages?

My guess is that every company only wants to hire "the top 5% of graduates."
So competition for the perceived best (ivy league, specialized skills) grows
while Joe State and Cathy Community go chill with the folks and work at
Walmart.

EDIT: how do you make block quotes?

~~~
myoung8
The general point of the article is spot on. I've heard that it's getting
harder to retain top talent first hand from a lot of corporate recruiters.

I think the only problem with the article is this part:

"Many young people want their own businesses. The barriers to starting an
Internet business are low."

The barriers to starting a one-feature company are low, but the barriers to
starting a REAL business are still relatively high. Unfortunately it seems
like there are still people out there who don't realize this, but even then,
they account for a minority among all young jobseekers.

------
petercooper
Not a bad read, although I wonder what reality some of these writers live in.
If we look at startup participation / entrepreneurism amongst, say, people
under 30 years of age, is the percentage really that high on a national scale?
If even 1% of 18-30 year olds are opting to run startups instead of getting a
job, I'd be surprised (although I'd love some numbers!)

~~~
startupper
Good comment. A recent article from businessweek talked about the 10 top
employers favoured by new grads. Three of them were fed. agencies, one
established accounting firm, google, etc. New grads crave job security,
comfortable lifestyles, cars, houses and growing bank accounts. After racking
up large student loans you can't blame them. And this would be a major
impediment to them starting a business in general.

I think this article refers to maybe 0.05% of new grads.

~~~
brezina
Spot on. If you don't have rich parents you have to go into debt to attend
private school. You HAVE to take the real job when you graduate.

I chose to be Joe State (@ motoko). I graduated in the black and was free to
start a startup. I'm thinking it was a good decision. That and studying
engineering. Thanks Dad.

~~~
nostrademons
"If you don't have rich parents you have to go into debt to attend private
school."

That's not really true. Most top private school have really, really generous
financial aid programs. And they give the money in outright grants instead of
loans.

I come from a very middle-class family - father is a househusband, mother is a
teacher. I went to Amherst College, which has a $40K/year sticker price.
Amherst picked up more than 2/3 of my tuition in outright grants. It didn't
cost me much more to attend than it would've at UMass (well, not quite true, I
would've gotten a full ride at UMass, but it wasn't much more than the UMass
sticker price). I ended up graduating with $4000 in loans, which I could pay
back with internship earnings.

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jsackmann
More than anything, I think this is about all the money in the baby boom
generation--gen y's parents. It isn't so much that most of our peers are
deciding between

a) startup

b) 'real' job

but that there's another obvious option:

c) wait around for something better (possibly doing zilch in the meantime)

If mom and dad's basement is available indefinitely and you have no family
obligations (wife, kids), there may not be any pressure to do much of
anything. Personally, I can't imagine not having some kind of small business,
but I think those of us who are actively entreprenurial are vastly outnumbered
by those who actively mooch.

~~~
jimbokun
As a parent of young kids, this was the most terrifying part of the article,
if this trend continues. You mean my kids will still be living in my house
after college, and I'll be expected to go to job interviews and negotiations
with them?

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mynameishere
_Some even have their parents in the room for added help, and many respected
companies are willing to engage parents in the hiring process if that's what
the candidate wants_

(!!!)

Wow. Depending on the circumstances, I would escort the iddle bitty baby right
to the front door, or...

Explain that nepotism is absolutely forbidden.

~~~
startupper
Welcome to the world of helicopter parents.

<http://en.wikipedia.org/wiki/Helicopter_parents>

[http://www.usatoday.com/money/economy/employment/2007-04-23-...](http://www.usatoday.com/money/economy/employment/2007-04-23-helicopter-
parents-usat_N.htm)

~~~
sbraford
Exactly. Man I wish I had rich parents, even helping out $10k a year or so
could go a long way when you're fresh out of school and expenses are still
low.

An ex of mine got something like $25k cash for her college graduation present.
Assuming she earned 10% or so on that for the next 40 years, she was already
guaranteed to be a millionaire by retirement. Anything she did on her own was
gravy.

~~~
Psyonic
While getting a $25000 college graduation present would be fantastic (although
I bet she just bought a car), your projection is a bit optimistic. While yes,
she would have a million dollars, that million dollars would only be worth
$295712 after accounting for inflation (at a constant 3% yearly.) Still great,
but she's not exactly ready for retirement.

------
jamiequint
One thing that bugs me about SlapVid is that it doesn't seem that they have
much external pressure to succeed...

"Humphrey thinks of the MBA program he is now in as sort of a backup plan in
case SlapVid does not take off at the end of the summer."

"Three out of four of the founders of SlapVid are getting financial help from
their parents."

I think needing money, and knowing the consequences are having to get a "real
job" are often factors that can help contribute to success.

~~~
patrickg-zill
Ah yes, graduate school - the snooze button on the clock-radio of life.

