What Do You Do When You’re 27? - Millennials Infographic
Older millennials were blindsided by the recession, and one of the first generations to take out massive debt for school. They are also one of the tech-savviest generations, and attended post-secondary institutions more than any other generation. Lets take a look at how they’re doing — at 27.
More than likely they would:
- Have an office and administrative support occupation
- Make $10-$14.99/hour
- Have a Bachelor’s degree
- Have $30,000+ in debt
- Be somewhat stressed about finances
- Be Single with 0 kids
- Rent with a partner
- Live within 9 miles of where they went to 10th grade
- From the largest longitudinal study of this generation.
- Tens of thousands of students were monitored from the 10th grade to 27.
The tale of 27-year-olds is one of education, it’s skyrocketing price, and a recession job market.
Education:
- Bachelors or higher: 33%
- Associate’s Degree: 9%
- Undergraduate Certificate: 10%
- Postsecondary attendance, no credential: 32%
- High school diploma or equivalent: 13%
- Less than high school completion: 3%
Living Arrangements:
- Traditionally, most people are married and settled into their own homes by 27.
- Many more 27 year old’s area living at home than past generations.
- 19% living alone
- 42% living with a spouse or partner
- 10% living with roommate(s)
- 23% living with parents
- 6% other
Where are you at in your life?
- 19% working and taking postsecondary courses
- 63% working for pay only
- 5% taking postsecondary courses only
- 13% not working for pay or taking postsecondary courses
Student Loans:
- 40%–no loans
- 16%– $0-$10,000
- 20%–$10,000-$25,000
- 13%–$25,000-$50,000
- 11%–$50,000+
Income
The largest minority of those who dropped out of high school made less than $2000 last year
While the largest minority of those with bachelor’s degree or higher made $40,000+
That’s a 20x increase.
Higher education leads to greater job stability.
And greater options of where to work, thus less financial stress.
More educated 27-year-olds are single with no kids, pushing the average age of marriage to historically high levels.
About 1/4 of 27-year-olds move a great distance away from their high school.
- 1/4th stay within 100 miles, and
- 1/2 stay within 10 miles
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