Boss Moves

Why Millennials Are Choosing Job Salary Over Benefits

Finding a job right out of college can be a task. For some people, the job hunt only takes a few months. However, for most others, it can become a job in itself. As more millennials enter the workforce, the older generations are retiring. Many businesses are hiring millennials by enticing them with exciting job benefits instead of an adequate salary. While it is true that millennials do value experiences, they also need money.

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Online job boards like Indeed or ZipRecruiter have become very popular over the years. Every job posting is different, but most positions will state the requirements, base salary and/or employment benefits. Job boards allow you to filter jobs based on experience level so one can easily find positions advertised as entry-level.

While entry-level salary for someone with a bachelor’s degree depends on many factors, there is one thing most millennials can agree on–it’s not enough. Many positions pay less than $15.00 an hour, yet some people are willing to accept the lower pay just for the offered benefits.

Are the Perks Really Necessary?

Nowadays, it would be quite normal to see a company advertise drinking on the job as a perk of employment. Even Google boasts of an in-office gym and free meals. Others include casual Fridays, extra vacation days, free snacks and a host of other benefits used to appeal to younger people entering the workforce.

Reebok Employee Benefits
HowStuffWorks Employee Benefits

These perks may encourage millennials to apply and can improve work-related stress factors. However, they don’t have any value outside of the workplace. You might be able to take that craft beer home, but it doesn’t help you pay your bills. Some millennials think it’s unfair for employers to require a college degree if the pay is under a certain amount. Employers might suggest that a variety of perks can improve the relationship it has with its employees; but without the higher wages, perks will not be enough for them to stay.

More Money, Fewer Unnecessary Freebies

According to NBC, one-third of millennials are delaying purchasing homes, getting married and having children due to debt. In order to pay off their debt, they need to be making livable wages. For a better workforce, companies today should focus less on freebies that millennials don’t necessarily need and more on paid leaves, affordable health insurance,  job security, and higher wages for their employees.

Written by Jordan Bennett

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