Are you better off graduating in a recession?
I’m sure that not many recent graduates have thought, Thank God I’m graduating during a recession! But graduating in a rough economic period might actually be a blessing in disguise — at least according to this Yahoo Finance article:
Why You’re Better Off Graduating in a Recession (finance.yahoo.com)
The article cites a study that analyzed government surveys of job satisfaction and found that people who graduate in a recession are more satisfied with their jobs because they’re grateful to even have a job, instead of questioning whether they could’ve done better.
This psychological effect is compared to bronze medalists vs. silver medalists in the Olympics; even though silver medalists have the bigger prize, they’re disappointed over coming so close to getting the gold, whereas bronze medalists are happy just to get a medal.
Writes the conductor of this study:
I found that much like bronze medalists, these graduates spent little time ruminating over how they might have done better and tended to be grateful to have a job at all. Those who graduated during more prosperous times, however, looked at their current jobs differently. Rather than revel in their good fortune, these graduates tended to wonder if they could have or should have done better. Much like silver medalists, they were more likely to be plagued by regret, second-guessing and what ifs.
While the results of this study seem to make sense, they contradict the stereotypes of millennials as being constantly being unhappy with their jobs and feeling entitled to rapid advancement. So do you find that recent graduates are satisfied with their jobs?