Boomers Are Most Satisfied With Jobs, Earn Highest Salaries

11/15/13

Median salaries for baby boomer and Gen X workers are similar, while millennial workers earn about $15,000 less than either of the older generations, on average, according to PayScale. More than one in four millennials (28%) have moved back into their parents’ homes at some point after entering the workforce because they couldn’t afford to live on their own. Some 16% are currently living with parents.

By comparison, only 11% of Gen Xers and 5% of boomers have ever moved back into their parents’ homes after entering the workforce.

Although the majority of workers in all generations drive private cars to work, millennials are far more likely than members of the two older generations to walk, ride bikes, or take public transit to work regularly.

Commuting habits vary significantly by geographic location. Cities with the highest proportions of people who drive to work include Detroit (96.4%); Birmingham, Ala. (96.1%); and Oklahoma City (96.0%). Those with the lowest proportions of drivers are New York City (50.4%), San Francisco (62.3%), and Chicago (72.3%).

Carpooling is most widespread in Seattle (2.5%); San Jose, Calif. (2.1%); and Portland, Ore. (2.0%). Portland, Ore. (2.8%), San Francisco (1.8%), and Sacramento, Calif. (1.7%), are the top cities for bicycle commuting. The average commute time, regardless of method, is 24 minutes.

Boomer workers report the highest levels of both job-related stress and job satisfaction. When asked what one thing they’d most like to change about their current job, boomers’ top answer is their boss, while Gen Xers and millennials are most likely to cite their commute.

SOURCE: PayScale Inc., Tim Low, VP of B2B Marketing, 542 1st Ave. S., #400, Seattle, WA 98104; 206-427-9591; sales@payscale.com; www.payscale.com. Price: Available online at no charge.

© 2013 Business Valuation Resources, LLC (BVR). May not be reproduced without written consent of publisher.

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