All articles tagged with #young professionals
Paulo Costa, at 29, becomes Goldman Sachs' youngest managing director, leading dividend trading in Europe, Middle East, and Africa, marking a significant milestone in his career after a successful year and a strong performance in Goldman’s equities division.
A survey commissioned by the Greater Boston Chamber of Commerce Foundation found that 25% of young professionals in the Greater Boston area plan to leave over the next five years, citing factors such as job availability, cost of rent, and the ability to purchase a home as important issues influencing their decision. The survey also highlighted that Black women and LGBTQ individuals are more likely to leave, while cultural and racial diversity, transportation issues, and community relationships were also significant factors. The Chamber Foundation emphasized the need for transformative policies and connections to address these concerns and retain the region's young workforce.
The testimony of Caroline Ellison in the fraud trial against FTX founder Sam Bankman-Fried sheds light on the close-knit inner circle of young people who ran FTX and Alameda Research, highlighting their pursuit of a higher mission and the sense of community they found in the workplace. Research shows that young people today are more likely to feel lonely and see work as core to their identity. To address this, employers should prioritize interpersonal connections, recruit for cultural cohesion, and stand for values that resonate with younger workers. By fostering a sense of community and purpose, companies can attract and retain young talent.
New York City remains the top destination for young professionals, with a surge in job applications from recent college graduates. The city saw a 6.7x increase in applications between 2022-2023 compared to 2018-2019, surpassing other popular cities like Chicago and Dallas. However, the high cost of living in New York, particularly in Manhattan, poses a challenge for many graduates. As a result, some are considering moving to more affordable cities like Miami, Atlanta, and Philadelphia. Despite the rise of remote work, the majority of applicants are still seeking jobs with specific locations, indicating a desire for a physical office and post-grad life in a particular city.
Massachusetts has been ranked as the best state for young workers, offering a strong job market, affordability, safety, and leisure amenities, according to a report by Scholaroo. Rhode Island and New Hampshire also made it to the top three, with high scores in leisure, health, safety, and affordability. The analysis considered factors such as employment rate, median household income, and access to healthcare, restaurants, bars, museums, and movie theaters. The worst states for young professionals were found to be West Virginia, Mississippi, Alabama, Louisiana, and Oklahoma.
A study by Smart Asset reveals that young and wealthy individuals in California, New York, and Illinois are leaving these states in favor of Florida, Texas, and New Jersey. California lost around 4,495 residents in the 26-35 age group earning at least $200,000 per year, while New York lost nearly 5,062 and Illinois lost 952. Florida emerged as the top destination, attracting 3,391 residents from this demographic. Despite the outflow, California and New York still have the highest number of wealthy young professionals compared to other states.
Florida is the top state attracting and retaining young and wealthy individuals, followed by Texas and New Jersey, according to a recent analysis. Factors such as tech opportunities, warm weather, and zero income tax make Florida and Texas appealing to this demographic. New Jersey offers proximity to New York City and a suburban lifestyle. New York and California have the highest number of young high earners, but both states experienced a net loss of this demographic.
Young professionals are increasingly turning to generative artificial intelligence (AI) to create professional headshots, bypassing the need for photographers. Users submit their own images and select a desired style, and the AI software generates the headshots. However, these services are not without flaws, as some generated photos may have extra limbs or struggle with accurate depictions of features like teeth, ears, and hair. AI bias is also a concern, with some users noticing alterations to their skin tone, eye color, and body shape. Despite these issues, the convenience and affordability of AI headshots make them an attractive option for those with limited budgets.