'It wasn’t that I couldn’t cope. It’s that I didn’t want to cope'.
So says a twenty-something year old who left Goldman Sachs after two years on its graduate scheme. 'I didn’t see why I ought to'.
The Financial Times reports that the knowledge and skills that came with the job were simply overshadowed by an unsustainable lifestyle of working nights and weekends without commensurate pay.
This young graduate is a 'millennial', one of the generation born between the early 1980s and the late 1990s. Now they are aged between 18 and 33 years, in the early part of their career.
It is a generation that appears to put a higher value on fulfilment, entrepreneurialism and a good work-life balance than cash. The implications for the investment banks and City firms who are trying to hire and hold on to them are serious.
'To motivate my generation was easy, you threw scraps of cash at us and kicked us', says Simon Collins, UK chairman of KPMG. 'This generation is looking for meaning in life, which candidly and shamefully I don’t think our generation was'.
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