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Lazy? Entitled? Narcissistic? Whiny?
The list of depreciating labels for Millennials goes on and on. For whatever reason, older generations are quick to dismiss my generation as unserious and unmotivated. Sure, older generations always critique younger ones. But the Millennial bashing seems to go on and on.
But here’s an inconvenient truth for the older crowds: millennials are getting old.
What’s more, Millennials and Gen Z are soon positioned to be the plurality of voters, so it’s time for everyone to start taking them seriously.
Today, you’re far more likely to find a millennial serving as the CFO at your local tech company than you are to see them living in the basement of their parents’ house and serving as a barista at Starbucks.
And if there’s one major misconception about this generation, it’s that they know how to hustle.
It makes sense when you look at this generation's formidable years. This demographic was finishing college right when the Great Recession of 2008 hit. Entering the labor force during the worst economic downturn since the Great Depression is guaranteed to teach you some tough lessons about making it on your own.
What’s more, this cohort also experienced the disruption of COVID-19 right when many were preparing to buy homes, begin family planning, or move into more senior-level positions at their company.
Millennials have gotten the short end of the stick at the worst possible times. But this generation emerged from these periods with a degree of grit and persistence that often gets overlooked.
For example, recent studies show a surge in Gen Z and millennials embracing side hustles, with 53% and 50%, respectively, taking on extra work outside of their nine-to-five. Many will be quick to point to the affordability issues currently affecting so many Americans. Supplementing a base income with a side hustle helps many younger Americans make ends meet.
Narcissistic? How about a term that describes this generation far better: self-starters.
This “hustle mentality” is consistent with macroeconomic data as well. For example, an April report originally published by the Associated Press noted that “new business applications jumped in 2020 as the pandemic started, and have continued to be filed at a record pace.” The article observed that more than 5 million applications were filed in 2021 and 2022, and a record 5.5 million new business applications were filed in 2023.
Older generations love to talk about how they possessed grit and determination to help achieve financial well-being. And they absolutely did. Countless Americans did tremendously well in the 1980s and 1990s thanks to their personal drive and an incredibly favorable economy.
This commitment and dedication to bettering oneself isn’t lost on the millennial generation. In fact, they’re simply finding creative new ways to achieve the same financial goals as their parent’s generation.
We’ve repeatedly discovered through polling that Americans want more choices. From options in retirement, to healthcare, to education, choice is a word that consistently emerges with overwhelmingly positive sentiment.
The same can be said about how millennials approach work. This generation doesn’t work like Baby Boomers and Gen X. Before anyone jumps to conclusions, this doesn’t mean that they don’t work hard, per se. Rather, it means that they like working at different hours and on different projects, rather than sitting in a dimly lit cubicle from 9 to 5 Monday through Friday.
Why were so many millennials reluctant to return to the office following the COVID-19 lockdowns? It’s because of this degree of flexibility and customization that remote work offers. Millennials didn’t want to keep working at home so they could sit in their pajamas all day and watch Friends. They wanted more options when picking where to live or what hours they could work.
Remember that 50-minute commute that used to be done every Monday through Friday? Millennials can now use that time to grow their side business or develop new skills.
Sure, you can keep labeling the millennial generation as lazy, but that’s simply overlooking key facts and projecting a gross misunderstanding of the new realities of work.
My generation would likely roll their eyes if you called them “capitalists.” They don’t want to be associated with Mr. Monopoly or the giant financial institutions that played a large role in the 2008 Recession. But whether they like it or not, millennials certainly have capitalist tendencies.
This generation works hard and innovates. But above all else, they hustle. And there’s no denying that that’s an entrepreneurial spirit.
