Why are young people old?

[Anonymous]

Anonymous wrote:At work we are doing mid year reviews and I was told to focus on career goals, long term goals in an effort to improve retention of employees. Plus the board wants us to do succession planning. We need to pick who to groom for the senior mgt jobs. The young employees acted like they were old during mid year reviews For example.

Employee 1. Graduated 2003, two kids around 5 and 12 and wife. I brought up long term career goals and career path. For instance he is eligible sit CPA, I mentioned we would pay. Also discussed how I could get him 3-4 promotions over next 7-12 years, we could get him some board level presentations and set him up long term. He looked my square in eye and said that’s a lot of work and look I want to kick back and retire around 52. I then explained retirement age is going to be around 70 for him so you have 25-30 years left. He said I don’t plan on working that long.

On to women class of 1993. Same story I give. I get look I got two kids 12 and 10 grade my goal is to just get them through in state and in six years my husband gets a state pension we sell my greatly appreciated DC house and retire.

On to employee 3. This time class of 1995 single women never married I get her parents getting older. She has a dog, taking care of parents will inherit home so one promo at best maybe a raise or two she is done.

In same week I interview a person class of 2020 in big 4. I ask why do you want to leave big 4? I get well “at this point in my career” I want to leave big 4 get something stabile, no travel, more regular. Getting engaged soon and I have hobbies. OMG. Scaling back class of 2020.

We literally have a 65 year old CIO and a 64 year old COO.

I am retiring in 5 years. I want to give my job away. But even the class of 2020 already scaling back.

How did these young people get old so quick? Even Gen Z is talking retirement.

Are you doing this work at your 1st or 2nd job? Didn't you get fired from your second job?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Also class of 1993. These boomers have sucked Gen X dry on mid-level jobs for the past 10 years, promising management with even more hours, travel, etc. now for what, a $25,000 raise? We’re tired.

This is so true. Another mid-90s class GenXer here... I've been "on track" for high level management for years now, I'm done. I've accepted that the boomers may never retire, and will stay in the VP and c-jobs forever. Fine. But now I'm done playing the game. I actually really like my mid-level job I have right now, and I'm happy to stay in it for another 5-10 years and then bow out. I had a similar conversation to the one the OP had a few months ago. The head-boss was so "surprised" I wasn't interested in this mentoring program and extra training. "You know this job can be yours when I retire soon." No thanks. You've been saying that for ages. I'm going to do my job well, use some vacation time to volunteer at my kids' schools, spend time with my family, etc.

Exactly this! You have to start rewarding ppl much earlier. You are calling a 1993 grad "young" -- she is 50+. Ppl who get promotions early on feel like they can make it to the top for high rewards. Moving a level up in your 50s is just a lot more work for a small payoff.

Ambition dries out if an org isn't recognizing and nurturing it from the start.

[Anonymous]

Anonymous wrote:

Anonymous wrote:At work we are doing mid year reviews and I was told to focus on career goals, long term goals in an effort to improve retention of employees. Plus the board wants us to do succession planning. We need to pick who to groom for the senior mgt jobs. The young employees acted like they were old during mid year reviews For example.

Employee 1. Graduated 2003, two kids around 5 and 12 and wife. I brought up long term career goals and career path. For instance he is eligible sit CPA, I mentioned we would pay. Also discussed how I could get him 3-4 promotions over next 7-12 years, we could get him some board level presentations and set him up long term. He looked my square in eye and said that’s a lot of work and look I want to kick back and retire around 52. I then explained retirement age is going to be around 70 for him so you have 25-30 years left. He said I don’t plan on working that long.

On to women class of 1993. Same story I give. I get look I got two kids 12 and 10 grade my goal is to just get them through in state and in six years my husband gets a state pension we sell my greatly appreciated DC house and retire.

On to employee 3. This time class of 1995 single women never married I get her parents getting older. She has a dog, taking care of parents will inherit home so one promo at best maybe a raise or two she is done.

In same week I interview a person class of 2020 in big 4. I ask why do you want to leave big 4? I get well “at this point in my career” I want to leave big 4 get something stabile, no travel, more regular. Getting engaged soon and I have hobbies. OMG. Scaling back class of 2020.

We literally have a 65 year old CIO and a 64 year old COO.

I am retiring in 5 years. I want to give my job away. But even the class of 2020 already scaling back.

How did these young people get old so quick? Even Gen Z is talking retirement.

Aaaaaah! Ahahahahah! Ha! Ha! Ha! You're too funny. You explained to someone (about whose financial situation you know minimal amounts) when he would be retiring? You're hilarious. I'm not surprised nobody is taking you up on your offers to do your job. Sounds like you're out of touch and your job sucks.

+1 this is beyond absurd.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The info offered on how to advance came with suggestions for a lot of work (not just literally work but tasks like training, etc). At a certain point in mid career, we just want to work, not looking to prepare to impress for next big thing or promotion. Couple reasons, one, the next big thing or promotion doesn't exist or if it does it doesn't add value to our life or doesn't add significance $$$. Two, what you are offering benefits the company, which is fine, but the WIFM is missing.

+1 to this. You should have been grooming this guy for succession 5 years ago, not now.

First of all this guy only started here in January. Second he is a spring chicken being class of 2003 college graduate. My Math has him at only 41-42. Given his wife done with kids, he only has two kids 5-12 and he has to be at least 46-50 to do the sr. Mgt role I would have thought that puts him at 49 with a 19 year old in college and a 12 year old at home. With a good 15-17 years of pay off. Plus he told me his one kid dream is to be a doctor. How is he paying for this. I was nice and explained medical school and college costs.

His YE will be coded as not mgt. material. He will trudge along 1-3 years at most and quit when not promoted or a bonus. I don’t want that. But like pushing a rock up hill.

I was away at a board meeting recently and the staff members at the Four Seasons I was talking to were older said no one wants to work any more. Thank god my Crème Brûlée and Lobster Bisque and Rib Eye was properly prepared.

I also expressed my frustration. Seems people got paid not to work in Covid and still want ti be paid not to work

My 80 year old board member can’t wait to move on. But like Warren Buffet he is stuck.

We all literally need to appoint a successor and best case back up successor. I code it in system and these people get training and opportunities to help make it happen. But not coded you are dispensable. Yes we want you to stay. My last three companies did same thing to staff between 25-45. But this guy is running out of run way. He will be 52 and unemployed with kids in school in a decade rather than living in fancy house driving a Mercedes. He made his choice. Hope he told his wife

You're sound condescending AF. What makes you think they guy doesn't know what college and med school cost but you are some expert on other ppl's financial situations?!

Has to be a troll (or that repeat poster - writing style is v familiar)

[Anonymous]

Anonymous wrote:

Anonymous wrote:Class of 08 here, I am definitely done in 10 years when I hit late 40s - early 50s. Already 2mm in net worth today, was never management / no leadership potential, it's more beneficial for me to focus on de-stress and live until 90 than trying to grind for people like you.

You are my alter ego. Our class and NW are so similar. DH has at least $2m, too and makes high six figures. I thought I would make it to late forties, but A I'm at an impasse right now in my career. I am so SICK of making my boss a ton of money. I'm ready to quit. I know he can't replace me because I'm talking to recruiters right now and have other offers, but ultimately, I'm sick of making other people rich.

What kind of job pays like this??

[Anonymous]

Anonymous wrote:Class of 08 here, I am definitely done in 10 years when I hit late 40s - early 50s. Already 2mm in net worth today, was never management / no leadership potential, it's more beneficial for me to focus on de-stress and live until 90 than trying to grind for people like you.

Did you invest in early crypto??

[Anonymous]

Anonymous wrote:

Anonymous wrote:Are you three jobs guy

And/or do you manage hourly employees (poorly)?

+100 these are the most relevant posts on this thread

[Anonymous]

I feel like you're the woman who couldn't find anyone for a 120k, in person accounting job. Anyways, people seemed honest in their reviews. I'm a younger millennial and I love working with Gen Z. They truly prioritize work life balance and aren't into making their job their life. It makes me look better that I follow most traditional norms and makes office cultures better because management has definitely become accommodating in my eight years post college. And I totally get wanting to leave a Big 4 accounting after 3 years, most don't want crazy hours beyond a few years. This happens for MBB and Big Law too. Most people don't want to work 60 hour weeks, and younger generations are realizing the per hour pay is the same as a a standard professional job with less expectations.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Graduated in 1993 and has a 10 year old? Ouch.

Where do you live? It’s not at all uncommon for women in the DMV to have babies in their early 40s. A 1993 graduate with a 10-year-old had the child at 42.

1992 graduate with 12 year old and 5 year old.

Do not care about promotion. I am
a GS-14 and I don’t want more money for more BS.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Class of 08 here, I am definitely done in 10 years when I hit late 40s - early 50s. Already 2mm in net worth today, was never management / no leadership potential, it's more beneficial for me to focus on de-stress and live until 90 than trying to grind for people like you.

Did you invest in early crypto??

Nope, just steady contribution to 401k over the years with growth ~ 300k, DH prefers cash and stashed 300k cash, a 1.5m NYC condo (we paid 800k back in the day) thats been paid off on 15 yr mortgage. Granted, we live in a crappy rental house in a good school district that costs less than our nyc apt rental income.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Class of 08 here, I am definitely done in 10 years when I hit late 40s - early 50s. Already 2mm in net worth today, was never management / no leadership potential, it's more beneficial for me to focus on de-stress and live until 90 than trying to grind for people like you.

For men early retirement is a myth. You are just unemployed.

You must be super successful and your opinion means nothing to me 😄

[Anonymous]

Employees 2 & 3 are in their 50s, probably have 25+ years experience…they are “young” to you?
Sorry but if you planned so poorly for your own retirement that you can’t until you are 70+, don’t blame others who planned better. Those 2 employees who are planning to exit in their late 50s sound like they are doing something right to me.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Burnout is a very widespread problem. Especially post-Covid. The rat race sucks. You work and work and for what? A bigger house? A bigger car? Nice vacations you can't enjoy because you wind up working on them? Nice clothes?

It's good more people are recognizing that what is meaningful in life is the time you spend with loved ones and doing things you enjoy just for themselves. Some minority of people really love work and can be fulfilled by it, but most jobs simply are not fulfilling. The idea that someone would rather become a higher paid accountant than spend time with their spouse or kids is, honestly, sad in most cases.

Also, if every single person is super ambitious, you'd just wind up with a bunch of dissatisfied, bitter people who didn't make partner or C-suite, who never nabbed the brass ring. The whole point is that there aren't enough rings to go around. It shouldn't surprise you that some people understand this early on and choose to aim lower, save their pennies, and go spend their 50s and 60s doing something more rewarding than working in middle management and NOT getting promoted.

This! I once worked for a CEO who used to always say things like, "can you imagine being somewhere 15 years and still being an individual contributor?" or "We all want to go as high as possible." And not surprising, he had a huge problem with SMEs and high performing and happy middle managers quitting because they had a problem with this attitude.

Ouch, I am 15 years in, no matter how hard I try: grinding 60 hr per week at big four, cruising at blackstone for 6 years, hopped a couple jobs for pay and title+, I am still just a measly IC because no one will hire me or prompt me to management. What’s he gonna do, gib me a job?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP - literally we got crap on succession planning from Board. But the issue is the people need to be qualified to do jobs.

That 2003 graduate took the cake. He is done having kids, his wife works part time frim home. He has an MBA luckily. So if I can just get him certified, get him to present at some all hands, let him present at a board meeting or two. I could get him a 200k-250k raise over next 7-10 years.

I also got feed back I need him to have a “better sense of urgency” which I can fix.

I literally told guy I had five people work for me I long time mentored and got their salary from 120k to 320k after putting in 7-12 years of good work. But last good worker I had was literally 2016.

There is literally two people on board in their 80s! No one is stepping up.
[i][u]
I left off this one. So that 2003 guy (he is funny) said why don’t you adopt me so I can get lotsa of cash like your wife and kids get. I thought he was joking but brought it up three times last week.

Jaimie Dimon and Bob Iger have same issue No one at Chase or Disney wants to work to be CEO. Heck look at Joe Biden.

That's the problem right there. NO one is stepping up because there are still 80 year olds on the board. Why in the universe aren't those people retired and enjoying the good life? That seems like some hell-scape nightmare to me.
If they would actually retire, people would absolutely step up to take their positions. But they don't. And they won't until they die.

I actually look at 80 year olds still working and think they have done something majorly wrong with their lives.

That’s what I think. I think if I am still working when I am 60 I screwed up
Somewhere or there was a massive health issue.

[Anonymous]

A pandemic happened and a lot of people died too early. Survivors of it are not taking lectures from the boss about how to work to 70.