What Do You Do When You’re 27?

WHAT DO YOU DO WHEN YOU'RE 27? 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. IF YOU WERE TO PICK A 27 YEAR OLD OUT AT RANDOM... MORE THAN LIKELY THEY WOULD... Have an office and administrative Make $10-$14.99 an hour support occupation Have a Bachelor's Have $30,000+ in total debt degree Be somewhat stressed about Be single with 0 kids finances Rent with Live within 9 miles a partner 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 Living alone 19% Living with a spouse or pařtner 42% own homes by 27. Living with roommate(s) 10% Many more 27 year olds are living at home than past generations. r Living with parents 23% Other 6% WHERE ARE YOU AT IN YOUR LIFE? Working and taking postsecondary courses 19% AR Working for pay only 63% Taking postsecondary courses only 5% 1 Not working for pay or taking postsecondary courses 13% STUDENT LOANS No loans 40% $0-$10,000 16% $10,000-$25,000 20% r $25,000-$50,000 13% $50,000+ 11% INCOME %24 The largest minority of those who dropped out of high school made less than $2,000 last year, while the largest minority of those with bachelor's degree or higher made $40,000+. That's a 20x increase. LESS THAN HIGH SCHOOL $0-7.24/hour- 8.1% $7.25-9.99/hour 34.3% $10-14.99/hour 36.4% HIGH SCHOOL EQUIVALENT $0-7.24/hour 3.4% $7.25-9.99/hour 23.4% $15-19.99/hour 15% $20+/hour•n 6.2% Lowest average earnings. $10-14.99/hour A 39.3% $15-19.99/hour 19.8% SOME POSTSECONDARY $0-7.24/hour- 5.1% $20+/hour 14% $7.25-9.99/hour 21% UNDERGRADUATE CERTIFICATE $10-14.99/hour 38.9% $15-19.99/hour 19.4% $20+/hour 15.6% $0-7.24/hour - 2.7% $7.25-9.99/hour 19.5% $10-14.99/hour 38.7% $15-19.99/hour 19.2% $20+/hour• 20% ASSOCIATE'S DEGREE $0-7.24/hour- 2.8% $7.25-9.99/hour 12.1% BACHELOR'S DEGREE OR HIGHER $10-14.99/hour 37.3% $15-19.99/hour 22.4% $20+/hour 25.3% $0-7.24/hour- 2% $7.25-9.99/hour 6.4% $10-14.99/hour 23.1% $15-19.99/hour 25.1% $20+/hour A 43.4% • Highest average earnings. HAVE YOU LOST A JOB SINCE JANUARY 2006? HIGHER EDUCATION LEADS TO GREATER JOB STABILITY. LESS THAN HIGH SCHOOL HIGH SCHOOL EQUIVALENT Yes Yes 45.2% 40.4% - No 54.8% No 59.6% Most amount of jobs lost. SOME POSTSECONDARY UNDERGRADUATE CERTIFICATE Yes Yes 40.8% 37.1% - No 59.2% No 62.9% ASSOCIATE'S DEGREE BACHELOR'S DEGREE OR HIGHER Yes Yes 28.8% 19.3% - No 71.2% No 80.7% Least amount of jobs lost. AND GREATER OPTIONS OF WHERE TO WORK. ARTS, DESIGN, ENTERTAINMENT, SPORTS, AND MEDIA 5.4% 1.2% 1.3% 2.3% 1.8% 2.6% BUSINESS AND FINANCE 10.1% 1.6% 1.6% 3.8% 2.3% 2.6% COMPUTERS AND MATHEMATICS 8% 2.4% 1.5% 3.3% 5.3% 0% CONSTRUCTION AND EXTRACTION 10.4% 10.7% 4.4% 5.5% 4.1% 5% EDUCATION AND TRAINING 13% A+ 3.2% 2.6% 4.8% 3% 1.4% FOOD PREPARATION 19.7% 8.2% 9.2% 4.3% 6.2% 3% HEALTHCARE PRACTITIONERS AND TECHNICAL 13.3% 10.7% 9.9% 6% 6% 2.2% HEALTHCARE SUPPORT 13.6% 2.4% 2.7% 3.8% 4.9% 1.4% INSTALLATION, MAINTENANCE, AND REPAIR 9.6% 6.4% 4.4% 6.8% 4.6% 5% MANAGEMENT 9.1% 8.4% 10.9% 6% 6.3% 6.5% OFFICE AND ADMINISTRATIVE SUPPORT 16.9% 18.3% 12.6% 12.9% 11% 7.5% PERSONAL CARE AND SERVICE 8.6% 5.4% 4.6% 4.3% 3.9% 2.4% PRODUCTION 13% 10.7% 6.5% 5.6% 4.2% 1% SALES 7.8% 9.5% 9.8% 7.9% 5.4% 6.3% TRANSPORTATION AND MATERIAL MOVING 10.6% 7.4% 5.6% 4.1% 2.5% 1.1% AND THUS LESS FINANCIAL STRESS. Financially, are you not stressed at all, somewhat stressed, or extremely stressed. LESS THAN HIGH SCHOOL HIGH SCHOOL EQUIVALENT Not stressed at all 17.4% Not stressed at all 17.1% Somewhat stressed 50.6% Somewhat stressed 63.2% Extremely stressed 32% Extremely stressed 19.7% Most amount of people who are extremely stressed about finances. SOME POSTSECONDARY UNDERGRADUATE CERTIFICATE Not stressed at all 12.6% Not stressed at all 13.5% Somewhat stressed 61.9% Somewhat stressed 60.3% Extremely stressed 25.5% Extremely stressed 26.1% Least amount of people with no financial stress. ASSOCIATE'S DEGREE BACHELOR'S DEGREE OR HIGHER Not stressed at all 12.9% Not stressed at all 16.8% Somewhat stressed 65.3% Somewhat stressed 67.9% Extremely stressed 21.8% PExtremely stressed 15.3% Least amount of people who are extremely stressed about finances. MORE EDUCATED 27 YEAR OLDS ARE SINGLE WITH NO KIDS. LESS THAN HIGH SCHOOL O children 31.6% Married 23.8% Partnered 30.9% •1 child 24.2% Single 45.4% 2+ children 44.2% Most amount of people with more than 2 biological children. Least amount of people with O children. Least amount of married people. HIGH SCHOOL EQUIVALENT Married 29.5% O children 47% Partnered 25.5% 1 child 23.9% rSingle 45% 2+ children 29.1% O Most amount of people who are in a relationship. SOME POSTSECONDARY 0 children 59.5% Married 26.2% Partnered 24.4% 1 child 21.7% Single 49.5% 2+ children 18.7% UNDERGRADUATE CERTIFICATE 0 children 50.9% Married 30.7% Partnered 23.1% 1 child 24.6% rSingle 46.2% 2+ children 24.6% ASSOCIATE'S DEGREE Married 33.5% O children 64% Partnered 21.4% •1 child 21% Single 45.1% 2+ children 14.9% Most amount of people who are married. BACHELOR'S DEGREE OR HIGHER Married 28.1% O children 87.8% Partnered 19.8% 1 child 9.2% Single 52.1% 2+ children 3% OMost amount of single people. OMost amount of people with O biological children. PUSHING THE AVERAGE AGE OF MARRIAGE TO HISTORICALLY HIGH LEVELS. 27 26.1 24.7 23.9 22.8 22 20.8 20.3 20.3 Mo Male MoFemale 1950. 1960 1970 1990 The lowest average for both males and females marrying. 1980 30 26.7 27.1 26.8 26.7 26.9 27-26.5 25.1 O 25 24.5 24.5 24.5 24.8 25 25 1993 1994 1995 1996 1997 1998 1999 30 28.2 27.4 27.5 27.5 27.6 26.8 26.9 26.9 27.1 27 25.9 25.9 25.9 26.1 25.1 25.3 25.3 25.3 25.5 25.6 25.1 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 The highest average for both males and females marrying. 2010. About 1/4 of 27's year olds move a great distance away from their high school. 1/4th stay within 100 miles. And 1/2 stay within 10 miles. WELCOME TO THE LIFE OF A 27 YEAR OLD IN AMERICA BROUGHT TO YOU BY: BestMastersDegrees.com CITATIONS: http://nces.ed.gov/pubs2014/2014363.pdf https://www.census.gov/hhes/socdemo/marriage/data/acs/ElliottetalPAA2012figs.pdf SSTHANO HIGH OL HIGH SCHOOL EQUIVALENT SOOSTSECONDARY UNDERGRADUATE CERTIFICATE ASSOCIATE'S DEGREE BAC ACHELOR'S DEGREE OR HIGHER 1950-1990 2000-2010