Gen Zers and Millennials Willing to Accept Less Pay to Move to Cheaper Part of US
Millennials and Gen Z are ushering in the “Great Resignation” period in which more young adults are taking control of their professional lives to prioritize freedom and affordability, and for many, that could mean relocating to find affordable housing. A survey by Coldwell Banker reveals that over half (51%) of Americans ages 18 to 34 reported a willingness to accept reduced pay or a new job with a lower salary to move to a new location with a lower cost of living, Insider reports.
A new era of remote work is causing many young professionals to leave their in-person jobs in favor of workplace flexibility. As a result, Millennials and Gen Z are taking their offices on the road to seek out new places to live, even if they have to sacrifice their incomes.
The era of remote work opened a new door toward flexibility that workers didn't want to give up in a post-vaccinated world. It's contributed to mass quitting across the country, known as the Great Resignation or what CEO LinkedIn CEO Ryan Roslansky has deemed the "Great Reshuffle."
In a recent interview with TIME, he said his team had tracked the percentage of LinkedIn members (of which there are nearly 800 million) who changed the jobs listed in their profile and found that job transitions have increased by 54% year-over-year.