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Paying the Price: Where Millennials Are Looking for Career Inspiration

Paying the Price: Where Millennials Are Looking for Career Inspiration

MillennialsIn 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:

Career influence

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.

Annual Spend

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.

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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.

Career Resources

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!

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  • Thanks for the post Drew, this is really interesting for me. Here at bizenko we offer a career planning resource, and have your survey audience (milennials) as our prospective clients. Our marketing efforts are geared towards finding family, friends and mentors. This report couldn’t be more in the sweet spot for us, thanks.
    We’re based in UK, and our market research shows a bit of variation, especially in regard to self-investment, but I think that is a cultural difference. Very happy to compare notes if it helps.

  • Andre Ewert

    Millenials are as confused as the rest of us. With the deconstruction of values, the family, the state, and the redefinition of work, they need some structure in order to achieve greater freedom. A part of them is already using the Internet and its apps to power their life and business. It’s the ones that did not make that shift that need guidance, help, coaching. Often, they grew up without any male role models and they have been left behind so many times that they need to belong to a community that will help them rebuild their lives.

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