Another over entitled mentality Gen Y

There are also millions of people employed and jobs are on offer.

Take control of your own life and if you apply for 100 jobs that you are suited to and not get 1 then there is something you should be changing.

Yes I have been declined for jobs before but when I apply for jobs I apply for things that suit then as times move on I relax my criteria and if I have been unemployed for a long time I would take any job whilst still applying.

I think you missed the part where I said I'm 'currently working in a menial job'. I've got an Economics degree with Honours but it's next to useless because I have no experience. It's an employers market out there. I graduated in 2012. Currently I'm working in administration and trying to work my way up. I'm considering doing a RG146 and getting into financial planning (if a company will give me an opportunity).

Edit- Prior to my current job I was earning minimum wage in a meat factory working along immigrants with little to no English. So even my admin job actually feels great to me at the moment.
 
I think you missed the part where I said I'm 'currently working in a menial job'. I've got an Economics degree with Honours but it's next to useless because I have no experience. It's an employers market out there. I graduated in 2012. Currently I'm working in administration and trying to work my way up. I'm considering doing a RG146 and getting into financial planning (if a company will give me an opportunity).

Edit- Prior to my current job I was earning minimum wage in a meat factory working along immigrants with little to no English. So even my admin job actually feels great to me at the moment.

Supply and demand - unfortunately a lot of degrees have little marketable value in the jobs market. Economics degrees certainly fall into that category (in Adelaide), I know quite a few people with them - none of which could find related employment.
 
It's a shame that unis in Australia don't put much emphasis on internships and work placements for students. I have a BA and work in a related area but I had to work for free (internships and voluntary work) for a while and do a bit of casual/freelance work before finally getting my job.
 
I understand that my example is anecdotal, but it is from 2 groups of people. My army mates, if they did a deployment overseas they now own a house and my school mates from Logan who are generally tradies. Off hand I could name over 30 of my mates who own houses and did so before they turned 30. I think one of the reasons most of the guys did it was to prove there masculinity. No one would admit to it but it gives you street cred amongst your peers when you own a piece of dirt.

This is what I have observed and it is only from a small sample group from South East Queensland. Other states and regions may be different.
 
It's a shame that unis in Australia don't put much emphasis on internships and work placements for students. I have a BA and work in a related area but I had to work for free (internships and voluntary work) for a while and do a bit of casual/freelance work before finally getting my job.

Indeed! There should definitely be more collaboration between unis and corporations. The majority of people go to university so they come out with good career prospects after suffering a 4 year opportunity cost. The feedback from businesses is that universities aren't making graduates job ready enough e.g accounting.

On the other hand business (particularly the private sector) are always crying out that there's a "skills shortage" because they don't want to train anybody and want more cheap labour. Want an entry level job at an insurance firm paying 40-50k? You need 2 years experience and experience using custom programs x,y,z + tertiary qualifications.

I recently applied for my final year of graduate jobs (it's my last year of eligiblity). I got shortlisted for the ATO, ABS and Human Services so hopefully I can finally snare one of these positions.
 
I think you missed the part where I said I'm 'currently working in a menial job'. I've got an Economics degree with Honours but it's next to useless because I have no experience.

Very similar to the hoardes of Graphic Designers or Psychologists that are churning out of university at the moment ... there are simply no jobs for them to go to.

Funnily enough, one of my step-daughters took a supposedly "dead end" course - english and publishing - but within 5 years is the sub editor of Cosmo.

Very proud - as I was one of the few that encouraged her with her passion
 
On the other hand business (particularly the private sector) are always crying out that there's a "skills shortage" because they don't want to train anybody and want more cheap labour. Want an entry level job at an insurance firm paying 40-50k? You need 2 years experience and experience using custom programs x,y,z + tertiary qualifications.
The problem is the economy today doesn't allow for many businesses to spend loads of down time training folks (other than the fast-food chains); they need folks to hit the ground running - to keep up the productivity (and profit).

Everyone wants expertise and experienced staff serving them in their "shopping trips", but they also want to pay zip for everything at the same time.

You can't have it both ways.

Corps who spend loads of time on training newbs suffer downturns in productivity and profits - which many simply cannot carry.
 
The problem is the economy today doesn't allow for many businesses to spend loads of down time training folks (other than the fast-food chains); they need folks to hit the ground running - to keep up the productivity (and profit).

Everyone wants expertise and experienced staff serving them in their "shopping trips", but they also want to pay zip for everything at the same time.

You can't have it both ways.

Corps who spend loads of time on training newbs suffer downturns in productivity and profits - which many simply cannot carry.
Yeah, and the companies that do offer training and staff development pay below market or at the absolute bottom of it.
 
Supply and demand - unfortunately a lot of degrees have little marketable value in the jobs market. Economics degrees certainly fall into that category (in Adelaide), I know quite a few people with them - none of which could find related employment.

Too many "arts" degrees :p
 
where does it say what and where she bought???? I just assumed, she either bought at the peak or bought some OTP or almost brand new apartment. 7 years and no value increase is a dud of a investment, however kudos for giving it a go regardless, $20k personal debt unless extreme circumstances is just ludicrous.

at my lowest of low financial positions, when my business went sour and i sold up I still had a $8k credit card debt that I wasnt even making the minimum payment, and that made me feel like I had a sack of concrete in my gut
as for financial freedom, it was a dream I had to be debt free at 25, but I knew it was

a) unrealistic
b) you had to do a business or some sort
c) had to start really really really early
d) had to be very lucky

so when I hit 25 and was still at square one, I simply didnt complain, and just readjusted my goals

I did my research by looking up at a specific research tool.....
 
I love this type of thinking. If I locked myself out of my house and I had to borrow a crowbar from my neighbour to lever the window open, the house does not then belong to him.

I think in this instance it was meant when the house is leveraged, so asset to the bank and a liability for the owner????
 
Very similar to the hoardes of Graphic Designers or Psychologists that are churning out of university at the moment ... there are simply no jobs for them to go to.

Well the good thing about psychology is you can create your own job. A psychology degree isn't enough though, you need to have a research masters or PhD before you're fully qualified and they're difficult to get into. Pretty much need to get a high distinction average to have a good chance
 
There does seem to be a large imbalance of training and employment opportunities, apparently there are thousands of qualified primary school teachers unable to get a job yet other employers complain of lack of staff.

Maybe the Gov gets involved with the employers and Unis and halves fees on careers with shortages which would encourage students to take that course if it is one of their possible choices.

We really need to be looking longer term at this and training our own school leavers rather than allowing overseas trained people into Aust. If we permit people to create Unis debts for courses that have poor job prospects it is no good for them or Australia.
 
im no economic expert , but when I was at uni, and when I was choosing a uni course, I was looking at straight arts degrees ,or science and the like and thought, how frigging useless are most of these, no different then year 12 subjects that give you basic theory

no wonder there are heaps of unemployed people, feel sorry for them

but at the same time, ive met heaps of younger people who have done some sort of mangement degree and expect to be bossing around 50yr old workers 2 weeks out from uni, in their private office and car park.....

that was before the GFC, but my limited obesrvations show that that sort of mentality has well been curbed
 
She made a poor investment at the peak of the market, it didn't double in value in 7 years, well suck it up. Slaving through she twenties, what a joke at least she was employed. Is this a joke?

well, a mentality ive noticed over hte years from true negative people or people with the WRONG investment mentality is

IO vs PI,

the people like her dont seem to understand that when its PI, you pay off say $500 per week and in 20-30 years, your IP will be fully paid off, while if its IO and $400 per week for example then your original debt levels will always be the same,

so if you are paying $400 per week and are still losing money then its negatively geard (in a nutshell), however, if you earning more then $400 but less then $500, then its positvely geared and you should be happy, but all they see is this one single $500 per week payment they have to make and they dont get the fundamentals behind it.

its always, oh my repayments are $500 per week, my net income is $499 per week, OMG this is a dud investment im losing money, and the property has only appreciated 40% in 5 years, I am paying the bank my hard earned salary to line their pockets!!! why is this world so cruel to me!!!
 
There does seem to be a large imbalance of training and employment opportunities, apparently there are thousands of qualified primary school teachers unable to get a job yet other employers complain of lack of staff.
One factor always overlooked these days in terms of employment movements etc (I usually bang on about cost of labour etc as a problem) is the standard and morals and ethics of the candidates.

As an employer (over 30 years on and off) one of the real problems with employing new staff is finding someone who will actually be an asset to your business and not a liability - or worse.

I have no doubt that in this day and age with such things as Worksafe requirements, OH&S requirements, Fairwork regulations (which are always adding more to the employee's bow and never the Employer's bow), and so on - many Employers are becoming much much more selective about hiring, and are probably opting to put less folks on - or noone on - rather than fill up the spots with possible problems.
 
Gen Y is not that bad.

I think they're certainly a bit more pessimistic about shares and property prices, but I think almost every Gen Y I know - except for maybe two people - (and I know a lot since I'm a Gen Y myself) has at least 1 IP and is interested in building wealth. I reckon I can count 30-40 of them.

Of course, they're more well-travelled than their parents at the same age. Most have been to most continents except for maybe Africa (yes, many have done Antarctica) and like to eat at good restaurants (organic, healthy, good produce). But they don't necesarilly chase Hermes or Maseratis like their peers in China. If you were to compare Australian Gen Ys with what we call the 80s and 90s in China (which I guess is a mix of Gen X, Y and Z), we certainly have the least expectations. In China, if you weren't wearing a Hermes belt and A Testoni shoes by 30 and driving a Porsche, you won't get much attention from people.

Are Gen Y lazy? So-so. I know some very hard working engineers, tradies, bankers, lawyers, consultants - they work til 12am everyday and save every penny. Also know a few who dream of inventing the next big app but just spend most of their day at the Incubus or York Butter Factory loitering around. So both types exist. Probably no different to when the baby boomers were young.

Are times tougher this generation? So-so. It's more expensive to buy a house, but the interest rate is less. Not sure if there were IO loans in the 70s. It's cheaper to catch a flight, and if you're savvy wechat/taobao/alibaba/facebook/line/gumtree/classified ads/uber should get you much better bang for buck than your parents' time. I'd like to think my generation has so much more opportunities than the baby boomers'. Making money has never been so easy.

I would argue I have probably done more than my parents at 29. I could retire with probably millions in equity right now all from own work. At 29, my mum was probably still wandering around Chapel St as a backpacker (from Hong Kong) and my father was slaving away at a Chinese takeway. I think a lot of Gen Y see the opportunities, and what they're saying is, why slave away at a job when you can grasp these opportunities (tech, Europe, China, India, Indonesia, internet - there's money everywhere if you looked).

I guess what Gen Y are lacking (and I'm certainly guilty of it) is the tenancy of some baby boomers to persevere, who toughed it out for 10-15 or maybe 20 years, build a solid foundation, and then grasp the opportunities at 35 or 40. They want to grasp it now. Like NOW!
 
im no economic expert , but when I was at uni, and when I was choosing a uni course, I was looking at straight arts degrees ,or science and the like and thought, how frigging useless are most of these

Two issues:

a) What is the "use" that you refer to?
b) Did the person do any planning or research before applying for the degree to find out how it will help with (a), what barriers they may face and what else they might need to do to get there?

If so, I think you'll find that for most people who do this, the degrees in question are in fact not "useless" at all.

What degrees are the most useful in your opinion?
 
Gen Y is not that bad.

I think they're certainly a bit more pessimistic about shares and property prices, but I think almost every Gen Y I know - except for maybe two people - (and I know a lot since I'm a Gen Y myself) has at least 1 IP and is interested in building wealth. I reckon I can count 30-40 of them.
DB, as I often say about this site; we here are living in a fishbowl of a minority of folks in Australian society.

You may know a lot of GenY who own an IP in your sphere of folks, but the vast majority of people in Aus are happy to own one house at any age-group.

The majority of people in Aus (95%) aren't what we here on SS are - financially literate, and willing to pull the trigger on buying an IP, and with the resources to do it.

Plenty of folks out there want to do it, but most are not able to go through with it.

Think about how sick in the stomach you (and I) felt buying your first IP - like standing on the bridge before doing a bungee jump -everyone has that sensation, and for many it stops them cold.
 
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I sent the article to my father and this was his response in red;

With more than $300,000 in mortgage debt to add to her woes, Alexandra places herself firmly among the have-nots of her generation

Kieran>> She doesn?t understand good debt. At one time, we had nearly $3.5M in debt. According to her, that would be a shitload of woe!!! Even now, we have $1.6M in loans and I don?t have a job!!! Quick, give me a knife so I can cut my wrists. SHE DOESN?T UNDERSTAND GOOD DEBT.

It made me laugh so hard lol
 
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