This is Finance in O&G. I don't know what other disciplines are starting at.
Every younger generation sucks compared to the previous ones. According to the previous ones.
And yet the world keeps on moving forward.
I always felt I was paid very well when I started 10 years ago considering I had zero industry knowledge at the time. It takes time to learn about the business and add meaningful contributions. I really don't feel like that is an outrageous opinion.
Nothing to add, but I hate that millenials refer to themselves as millenials like they're some monolithic special demographic snowflake.
I could go into management and get there, but not if I stay in the lab.
Oh, and my first job out of school paid 36k per year. In 2002.
Last edited by Duck of Death; 10-23-2015 at 11:55 AM.
I have a friend who is a rock star consultant in ecommerce/marketing/CRM etc. She gets brought in by everyone from VCs to multi-billion $ corps when things are in bad shape and need urgent fixing.
She was telling me recently about a luxury retailer she met with not long ago. They were bought out by a Private Equity shop that specializes in the sector a while back, but are struggling because they say they don't have the scale to compete with LVMH and the big boys in their space. Their ecommerce operations were a mess, and she met with the partner whose portfolio company it was, the CEO and all of the relevant department heads and senior managers. Apparently, one of the managers was leaving for another job, and his entire department, consisting of "creative" female Millenials, were claiming that they didn't need to be managed, were chafing under the "rigid structure" of rules and deadlines yadda yadda, and ergo did not want the guy who was leaving to be replaced because they could handle their own $#@! (despite many of them having issues with being hours late arriving at the office consistently etc.)
She said management was scared that the Millenials would quit en masse with the holiday season approaching, so they wanted to handle the situation with kid gloves. They put her in a room with the entire team of Millenials and she said she was getting bombarded by stupid, entitled questions. When she met with the CEO and private equity partner afterwards and they asked her what she would do, she said she would lay down the law, but handle it in a considered manner- but make them understand that they had to be responsible and accountable etc. or there would be consequences. They asked her what she would do if it didn't work- the tardy ones had been talked to umpteen times and still came in two hours late and such. She said, "I'd fire one or two of the ones that were not getting the message, that tends to get everyone else's attention."
They got scared and told her that they didn't think they could risk such a direct approach and decided to promote from within instead of bringing in a fixer. And you wonder why they are getting their asses kicked by their competitors (this is a company with hundreds of stores and 9 figures in sales, not some small start-up.)
That "I know everything I need to know" attitude is definitely something that I see more often in Millenials. Sure, you have always had your free spirits and your entrepreneurs and your geniuses/Mavericks who didn't need to be told what to do, but it's the young, corporate types now who think they are ALL special snowflakes too and don't need to defer to people with years or decades more experience (see thread where some Millenial Shagster in finance was bitching about being paid less than his colleagues who had years more experience than him.)
The smartest 1-2%, maybe 10% have always gotten away with that kind of attitude. The problem now is that the grade inflation, not hurting a child's feelings by letting them fail bull$#@! has created a world where 90% of the Millenials THINK they are in the top 1% of the workforce, even the idiots.
^^^So basically the non millennials in your story, the ones in the power positions, are giant pussies who are unable to do their job effectively, and thus run an under performing company. That is supposed to be an indictment of Millennials?
But in thirty years of being an entrepreneur and being in finance/VC/private equity etc., and having heard years of "war stories" from my mentors covering another half century of business deals, I have NEVER heard of an entire department of creatives claiming that they "don't need to be managed." THAT is 100% an indictment of Millenials.
This. I haven't seen anyone bitching about 60K or even 50K. I know people ten years into work that recently got bumped to 60K and are happy.
Damn, send me resumes of these people with 10+ years of experience that will be happy with $60k. In my experience, everyone wants 6 figures, and they are worth maybe 75% of that. I blame big companies that inflate salaries for mediocre people.
Yeah, I would not be happy at $60K with 10 years. I guess it depends on your degree and industry though.
Absolutely. I invested a lot of time in him from recruiting to internship to employment. It stung then and stings now. I associated that with an entire generation which was only partly true. I was pissed at losing him, but I also still feel like his attitude was somewhat indicative of the generation as a whole.Your most recent post makes me think you probably already realized this, but this story sounds like a lot more like you being disappointed in losing a young employee that you liked and was a valuable asset to your company, as opposed to some fitting illustration of the work ethic of an entire generation.
This is what surprised me the most. For six months, I had the perception that his desire was to bust his ass and work his way up. I have plenty of employees that put in their 40 hours, go home and drink a beer and don't worry about $#@!. But, those are the guys that will always be making an hourly wage. He showed the potential to put in that extra effort to separate himself from the pack. The fact that he thinks he can still be a business rockstar while putting in minimal effort is what surprised me the most.It can be both, justifiably. Basically, it's one thing to realize you want an easier life and value other things. It's another to be arrogant enough to think you can have both a 40 hour work week and own a couple businesses or move up within one etc.
Good point. And, I've been considering asking him to change his mind. But the feel of the conversation was that the ship had sailed. I think I missed the opportunity to mentor him and I did put too much on his plate too fast. That's on me. And I'll own it.Sounds like you had a great employee who was suffering from burnout and was too young to see that "this too shall pass".
Imo, you missed a great opportunity to help this guy out: mentor him, cut him some slack, build him up.
To "not even remotely try to talk him out of it"? Not sure that was the correct tactic.
$42K/yr for first six months. Company vehicle, phone, laptop, benefits, vacation. He was set to get a raise to $54K/yr Dec 1 as per his employment agreement plus becoming eligible for a variable comp plan that can add 10-30% of base salary.Mitch, just curious, what did you pay this guy? Pm if you want.
No $#@!. I couldn't have picked a pseudonym of an otherwise obsolete poster, right?Can we talk about having two MitchCumsteens on here? This is unseemly.
O&G pays well. Downside is there are massive layoffs every five years or so.
I used to live next to a guy that is a former Louisiana cop with next to no education who quit to work for his buddy's wire line company and has been making 300k for the last few years.
Last edited by Duck of Death; 10-23-2015 at 07:54 PM.
Pe as in project engineer, not professional engineer.
We are also a construction company.
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