Report: Millennials value happiness, more than career
June 20 2018 - 8:49AM
Fewer than 1 in 10 millennials identify their career as their top
priority, according to a newly released special report from
Navient’s Money Under 35 national study, conducted with Ipsos. The
research finds young adults, ages 22 to 35, are more likely to say
that just being happy or spending time with family is "most
important" to them.
The research takes a closer look at job satisfaction,
educational fit and how young adults feel about their current and
future career paths.
“We find that professional success is an important contributor
to overall financial health,” said Julie Wilson, head of research
for Navient. “That said, what matters most to millennials isn’t
financially focused at all. They value other passions and
relationships more than extrinsic goals like career advancement or
paying off debt.”
Interestingly, young adults who said their career is their top
priority are no more or less likely to be very satisfied with their
current job than their peers.
Additional findings from Navient’s special report include:
- Young adults who are very satisfied with their current
job are more likely to be in excellent financial health.
While 30 percent of young adults with high job satisfaction are in
“excellent” financial health, very few (7%) of adults with low job
satisfaction are doing as well.
- Job satisfaction increases with age.
Thirty-three percent of adults between 22 and 30 years old are
"very satisfied" with their jobs, compared with 45 percent of those
aged 31 to 35.
- Most young adults with a degree are working in their
field of study. Seventy percent of employed adults with a
college degree are working in their field of study, increasing to
85 percent among advanced degree holders.
- Millennials want a bigger paycheck. Only 3 in
10 young adults are very satisfied with their income.
- Millennial men are more satisfied with their careers
than women. Overall, men are more likely to be very
satisfied with their current job (42%) and prospects for career
advancement (45%) than women (32% and 33% respectively).
Navigating the path to a meaningful career can seem daunting for
those starting out and pros alike. To help, Navient offers The
Career Playbook—a YouTube-based video series—in partnership with
career expert and author James M. Citrin. The video series helps
aspiring professionals of all ages develop career development
skills, such as interviewing and networking, to advance their
career.
Navient's Money Under 35 study, conducted in partnership with
global research company Ipsos, is based on a survey of more
than 3,000 adults aged 22 to 35. This special report and
complete Money Under 35 study is available at
Navient.com/MoneyUnder35.
Connect with @Navient on Facebook, Twitter, LinkedIn
and Medium.
About NavientNavient (Nasdaq:NAVI) is a leading
provider of asset management and business processing solutions for
education, health care and government clients at the federal, state
and local levels. The company helps its clients and millions of
Americans achieve financial success through services and support.
Headquartered in Wilmington, Delaware, Navient also employs team
members in western New York, northeastern Pennsylvania, Indiana,
Tennessee, Texas, Virginia, Wisconsin, California and other
locations. Learn more at navient.com.
Contact:
Media: Nikki Lavoie, 302-283-4057, nikki.lavoie@navient.com
Customers: 888-272-5543
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A graphic accompanying this announcement is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/3c004ef8-e658-4661-84ba-8601156da656
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