The world has changed a lot in just a few decades, especially economically. I’ve heard a lot of work related advice from older people that simply doesn’t apply anymore in today’s world. I’ll discuss several of them in today’s post. Now of course this doesn’t apply to every single unique situation, but generally things have taken a turn for the worse for the younger generations career-wise.

• “Just knock on doors with a resume in hand. If they’re hiring, don’t leave until you get the job.”

Everything is online now. You'll be shown the door and probably rejected even if you did follow up with an online application. Automated script-reading bots skim through hundreds or even thousands of applications looking for keywords in a very cold and impersonal way. Requirements needed for a position are sky high, and even though the pay is abysmal, people still apply because there’s no other choice.  Education, a portfolio, and established connections is what gets you a job today. 

• “Work all summer and you can afford a brand new car, college education, down payment on a home, etc.”

Inflation and wage stagnation has made this impossible. While previous generations were able to afford their college tuition by taking a part time job in the summer, many students today are struggling to do the same working several jobs at once. While there’s almost no growth in wages for decades, other aspects of life have gotten insanely more expensive. Young adults who took student loans are forced to spend the next 30 years of their life paying it back with interest. And the dream of someday owning a home is just laughable for the younger generation. The prices of real estate today are sky high because of the housing bubble, a far cry on how much land and buildings used to cost. Even renting a good reasonably priced apartment is a wonderful achievement these days, and more than what most of us can hope for. Rent that used to be 350 dollars a month can now be 1200, just because the landlord feels like it. Many people lost their homes during the pandemic because of the inane price hikes.

• “I worked on a clerk's salary for 30 years and saved enough to buy the business.”

Wage stagnation has made this impossible. Ten lifetimes of minimum wage savings would not be enough to buy a multi-million dollar business. An alarming number of people are surviving paycheck to paycheck, just hoping to earn enough money to make it to the next month. And even if you do have some money saved up, you can lose all of it very quickly due to unforeseen events, like an accident that requires you to be taken to a hospital. 

• “Loyalty to your employer pays off in the end.”

Career advancement is nothing like it was before. Loyalty means almost nothing nowadays, especially to larger companies. You can work diligently for years, doing unpaid overtime going above and beyond hoping to be promoted, and still end up getting your hours cut or even let go. This happened countless times during the pandemic; good, loyal workers are fired at the slightest inconvenience to the company. You're just a number to an employer now. They will cut you loose without any hesitation if it means saving a nickel.

• “I worked the same job all my life. Now I have a pension and a comfortable retirement.”

Pensions are gone. Retirement is now a fantasy for most workers. You'll probably be laid off after 5-10 years. People who have worked decades for a company in a cubicle are rewarded with only a Rolex watch and a thank you note, is that all that time and dedication was worth?

• “I didn't need no Master's degree. I got raises and promotions, because I worked hard and kept doing the same thing.”

For the older generation, a high school diploma used to be enough to get you a job that will easily support a 4 person family, and getting a university degree was a solid guarantee that you’ll live a comfortable, very well paid life. Nowadays, a master's degree is quickly becoming the new high school diploma. Working hard no longer gets you anywhere. In fact, it keeps you poor. Switching jobs is the only way to get a raise or a promotion now. Oftentimes the only time you’ll be offered a raise is when you threaten to leave the company. 

Things have changed for the worse. Our current economic system has long since been warped and manipulated to only benefit those at the top. While most of us have to dance on strings our whole lives just to make enough money to scrape by. But I still have hope that things can change. Many young people are becoming disillusioned by the state of the world. They are starting to see that the system that governs our entire lives is unjust and cruel, and with awareness comes the potential of change. It’s up to us to decide how our lives should be lived, and whether we have the courage to take it back for ourselves.