It may sound too good to be true when you are searching for a job. You come across a job with the perks description as follows:
* Casual office space - NO BUSINESS ATTIRE
* Cold brew on tap!
* No work on Fridays
* Endless supply of snacks
* Days off on your birthday
* Dogs in the office
This sounds almost too positive and inviting not to apply. You as a Millennial love these concepts, so why would you not want to apply? Here is the catch. More companies are offering these "benefits", so as a result, they are then able to pay you less. They use this as a marketing tool to bring potential employers in. Companies find that these benefits outway the costs significantly. When applying for a job that potentially could make $50,000 at other locations, the average pay could now be around $30,000-$40,000 at this location.
If you don't believe me, do some research on Glassdoor, Indeed and Linkedin, and look at job posting compared to base/salary pay. It is no wonder why Millennials are living paycheck to paycheck and cannot afford the standard of living. Not only are they working to pay off student loans, but they are living off a yearly salary that cannot pay for bills, loans and a place to live - in a comfortable way.
More and more jobs are now "conforming" to meet Millennial demand. However, is this truly what the majority of the demographic wants? There is a stigma that Millennials are lazy, entitled and best known as the "me generation", but research confirms that millennials are not that different in the workplace from other generations.
Don't get me wrong, I love being able to work remotely when applicable and having days where I am able to dress casual. I am at work to work, I don't need a "nap room" to nap. Yes, I might leave to go get a coffee in the middle of the day. At the end of the day, I am there to show up and get the job done. From the point we enter college we are told by professors that there will be a large job force with high paying jobs, only to find that the ideology of what "we" expect in the job has decreased what we need for pay.
College tuitions rates are only on the rise. An average 2-3 years salary of many places with a base pay of $30,000-$40,000 would not come close to paying off my loans (and I'm sure many of you reading this as well). This problem will only increase as more Millennials enter the workforce in 2020.
Forbes said it best: Break the myth: it's not about perks.
"It's not ping pong tables, catered lunches, or happy hours that keep Millennials at a company. These perks may draw them in, but most certainly won't make them stay. The bottom line is that you have to have a good company culture that shows through in the workplace. The workplace should be a positive environment where employees feel a sense of camaraderie. That's what keeps Millennials happy and continuing to work at your company. A good work environment beats out free stuff any day."
So what would you rather? Casual dress + perks for lower pay? Or some perks and business casual/professional for higher pay?
