According to a recent Forbes article, almost half of millennials are making six-figure salaries at tech companies, and they’re unhappy with their jobs. The reason, the article suggests, is because millennials care more about work-life balance than they do about salary. While that may be true in some cases, there’s more to the story than that; plenty of other factors are contributing to the high turnover rate in the tech industry today. Here are just some of them.
Things are changing in Silicon Valley
In recent years, the cost of living in Silicon Valley has skyrocketed, making it difficult for young people to make ends meet. At the same time, the culture in many tech companies has become increasingly competitive and stressful. As a result, more and more millennials are choosing to leave their six-figure tech jobs in search of greener pastures.
Things aren’t what they used to be
The traditional path to success is no longer as clear as it once was. For millennials, the idea of working hard to climb the corporate ladder in hopes of one day retiring is no longer appealing. With the rise of the gig economy and the ability to make a good living without a traditional job, more and more millennials are opting out of six-figure tech jobs.
The grass isn’t always greener on the other side
Millennials are often painted as a generation of job-hoppers, but the truth is that most of us want to find a job and stick with it. So why are so many of us leaving our six-figure tech jobs? Here are a few reasons
Why millennials are leaving six-figure tech jobs, Part 1: Job Satisfaction
A recent study found that only 19% of millennials are satisfied with their current job. That’s compared to 33% of Gen Xers and 41% of Baby Boomers. So it’s no surprise that millennials are leaving six-figure tech jobs in droves.
Why millennials are leaving six-figure tech jobs, Part 2: Company Culture
According to a recent study, the number one reason millennials are leaving their six-figure tech jobs is because of company culture. That’s right – not pay, not location, not the commute, but company culture. And it makes sense when you think about it. Millennials are the first generation to come of age in the era of social media, where authenticity and transparency are valued above all else.
I didn’t fall in love with my job overnight
It took me a while to realize that I didn’t love my job. I was in my early twenties, working long hours and making a lot of money. But something was missing. I wasn’t passionate about my work, and I didn’t feel like I was making a difference. So, I started looking for a new job.
You can be your own boss…but that comes with its own challenges
Being your own boss has a lot of perks–you make your own hours, you’re in control of your income, and you get to call the shots. But it’s not all rainbows and butterflies–being your own boss also means shouldering all the responsibility if something goes wrong. You have to be prepared to work hard and hustle to make your business a success.