In our last study on millennials, we found that 80% of employed 20-somethings experience career anxiety, and only 30% love their jobs.
Intrigued by the widespread discontent, we decided to dig deeper to understand where these young adults are turning for advice in their anxious, unsatisfied state.
Who or what most influences their career decisions? How much do millennials spend on personal development resources? And what types of career resources are most appealing to this demographic?
Using SurveyMonkey Audience, we collected insights from more than 300 college-educated, full-time employed 20-somethings to get answers to these questions. Here’s what we found:
No surprises here. Friends, family, and mentors play the most influential role in career decision-making for about 80% of millennials. Meanwhile, the remaining 20% say they check out written content, events, or other resources for inspiration.
We also found that 70% of millennials open their wallets for personal development resources. And more than half indicated that they spend at least $100 annually, with nearly a quarter of millennials spending more than $300 a year.
The largest chunk of change comes from the pockets of just 12% of millennials, who spend $1,000 or more each year and help fuel the $10 billion U.S. self-improvement market.
Despite a growing affinity for digital content, 20-somethings are more likely to attend in-person events than seek advice online when thinking about their career. Self-improvement gurus should take notes, because demand hasn’t shifted completely online quite yet.
The self-improvement industry has received its fair share of criticism over the years, due to scams and a general lack of regulation, but the industry continues to play a critical role in delivering career advice to young professionals. Nevertheless,we’ve found that these resources remain secondary to the advice received from friends, family, and mentors.
Interested in running your own research project? Visit SurveyMonkey Audience to get started today!