74 Of The Most Interesting Facts About The Millennial Generation

millennial-stats

Below is a list of facts about Generation Y:

Millennials and the economy

Millennial values

  • 81% have donated money, goods or services. [Walden University and Harris Interactive]
  • 75% see themselves as authentic and are not willing to compromise their family and personal values. [Bentley University’s Center For Women And Business]
  • On track to become the most educated generation in American history. [Pew Research]
  • 61% of millennials are worried about the state of the world and feel personally responsible to make a difference. [Huffington Post]
  • 65% of Millennials say losing their phone or computer would have a greater negative impact on their daily routine than losing their car. [Zipcar]
  • 44% of Millennials say that marriage is becoming obsolete, compared to 35% of Boomers who feel the same way. [Pew Researh]
  • 39% of Millennials have a tattoo. [Pew Research]
  • 33% of Millennials live in cities and 14% live in rural environments. [Pew Research]
  • More tolerant of races and groups than older generations (47% vs. 19%), with 45% agreeing with preferential treatment to improve the position of minorities. [US Chamber of Commerce]

Millennials as employees

  • By next year, millennials will account for 36% of the U.S. workforce and by 2025, they will account for 75% of the global workplace. [U.S. Bureau of Labor Statistics / The Business and Professional Women’s Foundation]
  • 41% of millennials do what their managers tell them to do, which is greater than older generations. [Strategy+Business]
  • 84% say that helping to make a positive difference in the world is more important than professional recognition. [Bentley University’s Center For Women And Business]
  • Millennials say they do not deserve special treatment and are equally as committed as non-Millennials. [PwC]
  • 92% believe that business success should be measured by more than profit. [Deloitte]
  • Millennial employees have about the same level of organizational commitment as boomers and Gen Xers. [Strategy+Business]
  • 40% of Millennials think that blogging about workplace issues is acceptable. Compared to 28% of Boomers. [Iconoculture]
  • 29% of Millennial workers think work meetings to decide on a course of action are very efficient. Compared to 45% of Boomers [Iconoculture 2011]
  • 80% of Gen Y said they prefer on-the-spot recognition over formal reviews, and feel that this is imperative for their growth and understanding of a job. [Achievers and Experience Inc.]
  • 70% have “friended” their managers and/or co-workers on Facebook. [Cisco]
  • 71% don’t always obey social media policie at work. [Cisco]
  • Connected to an average of 16 co-workers on Facebook [Millennial Branding / Identified.com]
  • It costs an average of $24,000 to replace each Gen Y employee. [Millennial Branding / Beyond.com]
  • 15% of Gen Y’s are already managers. [Millennial Branding / PayScale]
  • 56% of Gen Y’s won’t work at a company if they ban social media access. [Cisco]
  • 69% believe office attendance is unecessary on a regular basis. [Cisco]
  • Average tenure for Gen Y is 2 years (5 for Gen X and 7 for Baby Boomers). [Millennial Branding / PayScale]

Millennials as entrepreneurs

Millennials as consumers

  • By 2015, their annual spending is expected to be $2.45 trillion and by 2018, they will exclipse boomers in spending power at $3.39 trillion. [Oracle]
  • 63% stay updated on brands through social networks. [Ipsos]
  • 46% count on social media when buying online, but 55% of Gen Y share bad experiences. [YouGov]
  • 41% of millennials have no landline at home and rely on their cellphones for communication. [Pew Social Trends]
  • 48% of Millennials who say word-of-mouth influences their product purchases more than TV ads. Only 17% said a TV ad prompted them to buy. [Intrepid]
  • 41% of Millennials have made a purchase using their smartphone. [Edelman Digital]
  • 32% of Millennials say they don’t like advertising in general, compared to 37% of the general population. [Experian Simmon]
  • 43% have liked more than 20 brands on Facebook. [Mr. Youth]
  • 77% participate in loyalty reward programs. [Aimia]
  • 44% are willing to promote products or services through social media in exchange for rewards. [Aimia]
  • More engaged in activies like rating products and services than older generations (60% vs 46%). [BCG]
  • 84% report that user generated content on company websites at least somewhat influences what they buy [Bazaarvoice]

Millennials as investors

  • 46% count on social media when buying online, but 55% of Gen Y share bad experiences. [YouGov
  • 43% of millennial respondents described themselves as “conservative” investor. [Accenture]
  • Gen Y is nearly 10% of all affluent investors in the U.S. [Cogent Research]
  • 84% of Gen Y are seeking advice about finance. [Merrill Lynch]
  • 57% will change financial advisors for a tech setting. [WealthManagement.com]
  • 61% want video meetings with advisors. [WealthManagement.com]

Millennials in politics

  • They elected our president – 60% voted for Obama in 2012, 66% in 2008 [Pew Research / Huffington Post]
  • Millennials will be 40% of the electorate by 2020. [The Center for American Progress]
  • 41% satisfied with the way things are going in the country. [Pew Research]
  • In 2008, 48 million millennials (those born between 1978 and 2000) were eligible to vote, and 25 million actually did. [The Atlantic]
  • Younger Americans are most progressive (56.6) on cultural and social values and the least progressive on economic and domestic policy (53.1). [American Progress]
  • 42%  believe that “our current economic problems show what happens when you rely too much on the market and reduce regulations on corporations. [American Progress]
  • 48% believe that their parents most influence their vote (aside from themselves). [Millennial Branding / Internships.com]
  • 58% said they would be following the 2012 election on social networks like Twitter and Facebook. [Millennial Branding / Internships.com]

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