There's a lot of negative stuff about Gen X on the web. It says we're small. It says we're sandwiched between the Boomers and the Millennials. It says we're the Jan Brady of Generations.
My question is - is it really true?
I've had my share of tough times. However, at 38 (almost 39), I have a great job, a great family, a great house, and I live in a great small town. It got me thinking - is the media out to "get" us?
It's true that our generation is smaller. However, although we're only 20% of the population, we're 42% of the workforce (see chart above). That's the largest chunk of any generation working today.
Also, the median age of CEOs in this country is getting lower. Today it's 48.8 years old (45.7 years old for those working for IT companies). The oldest Xers (if you don't count Generation Jones, which I do, but I'm not counting them here) is 44. Well, if half the CEOs are under 48.8 - most of that half are Xers.
It's true, we had it rough starting out. But is it really that dismal for us? Does the data back it up?
I'm curious what you all think.
My question is - is it really true?
I've had my share of tough times. However, at 38 (almost 39), I have a great job, a great family, a great house, and I live in a great small town. It got me thinking - is the media out to "get" us?
It's true that our generation is smaller. However, although we're only 20% of the population, we're 42% of the workforce (see chart above). That's the largest chunk of any generation working today.
Also, the median age of CEOs in this country is getting lower. Today it's 48.8 years old (45.7 years old for those working for IT companies). The oldest Xers (if you don't count Generation Jones, which I do, but I'm not counting them here) is 44. Well, if half the CEOs are under 48.8 - most of that half are Xers.
It's true, we had it rough starting out. But is it really that dismal for us? Does the data back it up?
I'm curious what you all think.
8 comments:
My own experience is that GEN Xers are in the process of being bypassed by the Yers. When Gen X entered the workforce (and I'm an older Xer, 41) The Boomers "pay your dues" methodology was very prevalent in determining who got raises and promotions. There was a very brief window in which an Xer could make something of themselves.
In my current position, much of the attention is going to the Y's. I work for a large company and there are more programs for high potentials, or rising stars, but very little for the employee who is mid-career, has several years experience under their belt, but would still like to advance.
I'm sure that X had their own share of high potentials, but they were often overlooked due to the number of Boomers who had "paid their dues".
Interesting question! I don't feel overlooked except every time I watch the PBS pledge drive and it's 24 hours of Boomer nostalgia...
@tripletmom - I'd be curious to hear from other Gen Xers on this, because this has not been my experience (but I could be the exception to the rule). Attention is one thing, but actual promotions, raises, etc., are another. Ys need more attention the Xers. I know Xers who've lost promotions or jobs to other Xers or Boomers - but I really don't know anyone has lost out to a Y. It's not because there's anything wrong with the Ys, it's just we have 10 years experience on them.
@Kristina - that's because you're not the target demographic for PBS. As you know, I used to work at a PBS affiliate. The most lucrative pledge show is Lawrence Welk. I'm surprised the Boomers even tune in :) More power to PBS pledge drives - Boomers have a lot of coin.
GenX would not be losing promotions to GenY yet. They will be losing opportunities to GenY, which is similar but subtly different. Also, if GenX did not have higher paying opportunities early on, they will not get them later, since prior salary is used as a proxy for the value you will bring in the new job.
Tripletmom is seeing something very real which is related. Boomers who advanced easily see stuck GenXers as losers. ("By your age I was running this dept.!") GenY came in during a boom and therefore moved up faster.
In the software and server worlds, GenXers are often passed over for GenY. So it does happen, but it is perhaps how conservative your industry is.
OBTW, CEO median age doesn't measure generational effects very well. It could be that CEOs are heavily Baby Boom (old guard co.s) and GenY (new guard co.s). This would give you a GenX looking median age without having deep GenX representation.
@Forrest - I'm curious if you have personally been affected by this trend? And I don't say that sarcastically. I'm just curious if there are any personal experiences of this out there.
I think this is a great question. While I can see where other posters are coming from, Ive had the exact opposite experience, as has most of my GenX colleagues and friends. I am in an industry that is normally considered a second or third career for most (career consulting/outplacement), but in 2001 before 9/11 was brought in as the youngest consultant by about 25 years. There was a need for someone younger to interface with the younger clients we were getting. Granted I experienced the 'pay your dues' philosophy when I started, but havent since (and Im working with folks who have been with this same company for 20 years to my 8). Same with my husband who is in data storage with an "old guard' kind of company, my brother who is a professional classical musician with the Buffalo symphony, our neighbor who is a VP of an international company, just to name a few.
Please know Im not arguing with others who have experienced this throughout their careers. If its any consolation, from what I am seeing working with people who are getting laid off, the GenX percentage is smaller than both Boomer and GenY...
@anonymous - thanks for posting. Like you, this has been my experience. I had three tough years after undergrad - and then I've had good jobs ever since. By good I mean good salary and an appropriate level within the higher archy. I have written about how I had to work with some bad people and had some bad experiences but haven't had any problems because of my age.
Two things:
1. Can someone please check the new census data coming out? I'm not convinced our Generation is as small as it once was. And this is not because Boomers are starting to pass away, but also because immigration has increased to "help" with Boomer retirement.
2. What irks me is the GenY income compared to our own starting income. Yes, of course GenY income is higher, but somehow as a percentage of our parents income... it is WAY higher. And still on the income rant... GenX may be getting the promotions, but they aren't getting the pay raises. Someone compare GenX vs. Boomer's income weighted for same age and management level.
Hmmm...
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