Millennials 7.0: Employment and Finance


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Buzz Marketing Group's SEVENTH WAVE of our annual report profiling 20somethings. This month, we talk to Millennials about Employment and Finance.

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Millennials 7.0: Employment and Finance

  1. 1. Buzz on Employment & Finance Study 7.0Th e se ve n th wa ve o f a n e w a n n ua l r e p o r t p r o f ili n g th e se u p a nd c o m i n g Mille n n ia ls.
  2. 2. Who was Involved? 9000 This network is used as a resource for 123* ethnographies, focus groups, personal -./*0123 interviews, immersion +",(&986 members of our experiences, surveys, and polls. 24562*" $$.7$)* Overall, this panel is composed ofbuzzSpotter® trend influencers, and represent all of the “tribes” we have identified, whichnetwork 8 %. 9/./*: (9%(.* include: independents, preppies, techies and alternatives. buzzSpotters®participated in this ;9:)./*012<123*survey.65% /35%female male 986 !"# $%& %" ( $) *
  3. 3. location CA 15% FL Rest of USA 5% 22%The majority of GA PAparticipants are 3% 6%from these states. IL 10% NY 25% MDSTATS BY STATE AND PERCENTAGE >>> NJ 4% MA 2% MN MI 3% 2% 3%
  4. 4. AGE 28-30 32% 24-27 33%The respondentsranged in age from 27% 19-2315 – 30 years old. 14-18 8%
  5. 5. ethnicity American Indian Other 1% 4% Hispanic 12% Asian American 6% White Black 58% 19%
  6. 6. MaritalStatus Married 16% Single 47% In a relationship 29% Dating 8%
  7. 7. Education Ph.D None of the Masters Degree 1% above 12% 3% High school diploma 26% Associates Bachelors Degree Degree 10% 48%
  8. 8. g s are e ith e r wo r kinemployment 92% o f our stude n t or a tte nding sc h o o l. in so me capac ity o yed. Only 8 % are u ne mpl a student / Unemployed Working part- worker 8% time 8% 11% a freelancer a student 1% 12% Self-employed 4% Working full- time 56%
  9. 9. Household income be twee n 47% o f our stude n ts fall h o ld th e na tio nal ave rage h ouse 82,000 in c o me o f $33,000 and $ 47% 24% 19% 5% 3% 1% 1%Less than $8,000 - $33,000- $82,000 - $170,000 - More than I dont $8,000 $33,000 $82,000 $170,000 $370,000 $370,000 want to specify
  10. 10. How old were you t jo b a t po nde n ts go t th e ir firs when you got your7 1% o f our resage six tee n o r you nge r! first job? 32% 18% 13% 8% 8%5% 3% 3% 4% 3% 1% 2% 1%
  11. 11. Which field do you currently work in? Education 12% 10% Health Care 9% 7% Retail / Fashion 6% Technology / Internet 5% 4% Sales Government Legal 3%Travel / TransportationFilm, Television, Theatre 2% Human Resources Communications Call Center Insurance 1% Research Science
  12. 12. p y with How happy are you respo nde n ts are u nh apOn ly 22% o f our h o we ve r 78% are a t in your current itua tio ns,th e ir c urre n t jo b s r y h app y with th e irs. job situation? if no t veleast c o n te n t Very unhappy Extremely happy 7% 10% Unhappy 15% Very happy 29% Content 39%
  13. 13. Are you more ng to r respo n de n ts are willi likely to … nly 38% o f ou d fo r.O t th e y fee l o ve r-q ualifieac c e p t a jo b th a 38% 37% 16% 9% accept a job which keep looking for a create a job for go back to school you feel over- job until I find one myself until the job qualified for that matches my market improves competencies
  14. 14. Do you receive any type of monetary assistance for living from any source besides your own job or scholarships/ grants? Yes 16% No84%
  15. 15. th a t a t spo nde n ts said th e rNe , o f our re arly h alf, 49% c o me was disposable . A no What percentage th e ir inleast 20% o f o f th e ir in c o m e was 26% said th a t 10-20% of your income is disposable . More than 50% disposable? 40% - 50% 8% 5% 30% - 40% 0% - 10 % 9% 25% 20%-30% 27% 10- 20% 26%
  16. 16. o f our respo n de n ts h av e a t least $10 ,000 ave less How much money2 1% ac c ou n t, h o we ve r 31% h wh e resa ved in a ban k th an $5 00, w ith th e o th e r 48% fall ing so me do you have in a in th e middle . savings account? More than $10,000 21% Less than $500 31% $5,000 - $10,000 11% $500 - $2,000 - $1,000 $5,000 12% 14% $1,000 - $2,000 11%
  17. 17. o nde n ts se le c ted food as o ne o f What do you % o f our resp e y o n, 93 th e m ost m o n th e t h ings th a t th e y spe nd ing and th e n bills. spend most of h opp fo llo wed b y s your money on? Food 93% Shopping 84% Bills 67%Entertainment 65% Debt 33%
  18. 18. o f ou r If you could have a c lear fav o rite with 89% Am azo n was th e t, fo llo wed c lo se ly b y gift card to any h oosing i respo nde n ts c ar t no t far o ff. Targe t and W alm store, which store would you choose? Amazon 89% Target 85% Walmart 74% Macys 42% H&M 30%Apple / Itunes 13%
  19. 19. Do you shop If so, Where do online? you shop the most? No 2% Amazon 97% Ebay 74% Yes 98% Itunes 28%
  20. 20. re no t Do you invest in ity o f our respo nde n ts a e large majo r r h aps th is stocks? Th to c ks o r bo nds, bu t pe in vesting in s o ve red. c e th e e c o no my h as re c will c h ange o n Yes 36%Are you currently holding any bonds? No 64% Yes 29% No 71%
  21. 21. in de bt, Do you have a our re spo nde n ts are credit card? Only 33% o f said th a t th e y h ad a o f th e m alth ough 80% c redit card. NoAre you currently in 20% debt, other thanstudent loans, a carnote or a mortgage? Yes Yes 33% 80% No 67%
  22. 22. Have you had to o f ou r borrow money from ring th e last year, 37% so me po in t du ro m a a friend or relativeAt ad to bo rro w m o ne y frespo nde n ts h in the last year? ie nd. re la tive o r fr Yes 37% No 63%
  23. 23. How financially an c ially, o nde n ts fee l se c ure fin secure do you60 % o f our resp l inse c ure, o n ly 8% % wh o fee feel?h o we ve r, o f th e 40 e . inse c ur are ex tre me ly Extremely Extremely insecure secure 8% 6% Very secure 15% Not very secure 32% Secure 39%
  24. 24. Are you saving any e ac tually our re spo nde n ts h av t 38% money forOnly 5 1% o f ne y fo r r e tire me n t, bustar ted to save m o fu ture . retirement? saving in th e nearplan to star t 39% 38% 7% 3% 12% 2% Yes I am Yes, I started I havent I am still I am not even Other, pleasesaving plenty saving a started but I undecided considering a specifyof money for little bit of plan to about retirement retirement money whether I fund want to save or not
  25. 25. is be ing When I have extra o nde n ts ex tra m o ne y90 % o f our resp is sure ly no t be ing money I usually… t, bu t itsaved o r spe n o na ted. in vested o r d Invest it Other Donate it 4% 5% 1% Spend it Save it 36% 54%
  26. 26. o w muc h Do you keep a o nde n ts k no w exac tly h % o f our resp ge ne ral record of what96 ding o r a t least h ave ath e y are spe n you are spending? idea. 39% 32% 25% 3% 1% Yes I know Yes, I know more No but I have a No, I dont really No, I have no idea exactly how or less what I general idea of know how much I about how much much I am am spending what I am am spending I am spending spending spending
  27. 27. KEY This generation is used to having what they want, when they want it, and how they want it, including FINDINGS jobs. Only 38% of our respondents are willing to accept a job they feel over qualified for, while the other 62% prefer to keep looking, create a job, or go back to school. * Although our Millennials are not investing in stocks and bonds they are still savingWith 92% of our respondents money and well aware of how much theyeither working or studying and are spending, and how far a dollar canonly 16% receiving finical stretch . 98% of our respondents areassistance, this generation is more shopping online and most of them are visiting sites like Amazon and Ebay toeconomically independent than find the best deals and conditions. Withprevious generations. For the most the current economic climate, ourpart they are earning their own Millennials have learned how to get whatmoney and paying their own bills. * they want for an affordable price. *
  28. 28. ;: ( $"& $*=)!* Buzz Marketing Group 1515 Market St. Suite 1810 Philadelphia, PA 19102 215.399.5679