Reply to Boomers' Billion-Dollar Bonanza: The Unseen Hoarding Behind Millennial Struggles

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[quote=Anonymous][quote=Anonymous]What troubles me a lot is degree creep, housing, and general ability to advance.

We were told to get an education and we’d never have to worry about getting a commensurate professional job. Lies! There remains rampant discrimination, an old boys club/network in a lot of industries, and a general inability to move ahead or up or even to enter where you should be.  I know multiple admins with advanced degrees.  The admin for my department is a CPA.

WTF!?[/quote]

Degree creep is real. And I think can contribute to generational resentment because it's true that many millennials were heavily pressured to get as much education as possible and that does not necessarily lead to higher earnings (and can actually rob you of years of income if you go to graduate school). I also think a lot of millennials borrowed money to get graduate degrees that their parents heavily pressured them into (lots of Boomers wanted lawyers, doctors, and MBAs for kids, there is a reason that law and MBA programs, in particular, exploded in numbers in the last 30 years) and the reality of living with that debt is a lot harder than they were led to believe. There was a long period of time when people would say that education debt was "good debt" because of course getting another degree would boost your earnings.

If you borrowed money for law school at your parents' encouragement and then lived through the Great Layoff in '08-'09, and then the consolidation of the legal industry that results in a lot of lower paying law jobs (staff attorneys and contract attorneys), you might have a lot of resentment towards your boomer parents. You got bad advice from people who were probably kind of blinded by wanting to be able to brag about their kid being a lawyer to their friends, and now you are stuck with tens of thousands of dollars in debt and might be struggling professionally.

This is not a super uncommon story.[/quote]

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