There’s probably no generation that has been more stereotyped than Gen Y. They’re entitled, they want instant gratification, they’re tech-savvy, they hop from job to job…..
I want to go past the stereotypes to see what’s really going on with Gen Y. I am particularly interested in Gen Y women.
In her article How Millennial Women Are Shaping Our Future, Lindsey Pollak takes a closer look at Gen Y or “Millennial” women. (Yes, sometimes the terms Gen Y and Millennial are used interchangeably. It’s confusing to me, too.)
Here are some of the highlights:
Today’s twentysomething women value life’s journeys more than its destinations. Rather than wanting to “have it all,” Millennial women want to try it all.
Rather than feeling compelled to follow a predetermined life path (education, career, marriage, motherhood), as many of their mothers and grandmothers did, Millennial women are taking advantage of today’s more flexible, global and technological society to forge nonlinear life paths. They want to sample from the web of life, not climb a straight and narrow ladder to reach their goals.
Gen Y women have new ideas about what a “mentor” looks like:
To navigate a changed world, Millennial women are transforming mentorship from a one-way, top-down relationship into a peer-to-peer, communal exchange of information, guidance and support.
Ninety-four percent of women worldwide said that the best mentors are people with whom they can trade advice. Furthermore, 77 percent of Millennial women say that mentors can be people your own age, and 89 percent agree that they can have more than one mentor. Call it the new streaming perspective — like Millennials themselves, this mentorship is always on, never static and continually evolving.
In my research on women of all ages, independence is highly prized. Gen Y women are no different:
According to our research, 96 percent of Millennial women worldwide list being independent as their most important life goal and define success as being able to shape their own futures (87 percent). While being a mother (82 percent) and getting married (67 percent) are still important, they are not as high priorities in one’s twenties as being independent and living life on one’s own terms.
I find this group of women fascinating AND highly misunderstood. So I’m launching my own study on Gen Y Women and Finance, to do a deeper dive on Gen Y women, what they want, how they measure success, and how they make financial decisions.
Stay tuned for the results.