Originally Posted by ms-whitney

there are also active IT recruiters in sf, met one in jury duty

DH is in IT and a couple of his recruiters are in SF. IT is hiring and in demand. Well, in the Bay Area, at least.

This tread made me LOL. I'm hoping it has to do with the field they are in and less to do with new grads in general. I know lots of young people who couldn't find jobs in their fields and are working at fast-food restaurants and department stores plus doing a non-paid internship on the side to enhance their resume. I think many young people are having to work harder due to the poor economy and limited options all the while racking up student loan debt more and more.

Wow... Honestly, I believe that it has a lot to do with the field that you're in and the way these kids were brought up. They may have grown up in privileged households , or have gone into the business expecting it to be easy/fast money. I just graduated with a degree in Bio and majority of my friends are either studying to get into grad programs or struggling to find any sort of job. Nonetheless, Crying over a 50K bonus is definitely unacceptable behavior and these boys need to learn that you work your way from the bottom --> up and I hope everyone doesn't feel that all recent-grads feel entitled and ungrateful!

goodmornin -- this doesn't surprise me -- I've worked in both finance and consulting and I've seen a lot of new grads who have been super stars get a wake up call when they join the work force -- when I was in consulting we hired people from Harvard MIT etc and they would end up basically doing clerical work and giving up evenings and weekends -- I think the money was a way to justify drudgery -- not getting an expected bonus can be a big blow to one's ego and it takes a while for new grads to learn unlike in school where hard work typically equals an A in the real world hard work often means you just get to keep your job -- hope these guys learn a lesson from this

I'll add I still remember my first performance review in my first job after college -- I got an average review and a 3% raise while many of my friends/colleagues got above average and a 4% raise -- I was devasted even though the actual money involved was small -- needless to say I hunkered down and got above average reviews going forward

I also wonder how many hours these guys are working -- it's been my experince that new i-bankers typically work 80+ hours a week often staying until 2-3 in the morning and then back at 8 am plus working weekends -- it may seem like a lot of money but given the hours not so much -- I expect they may be reevaluating the time/money trade-off too

Originally Posted by goodmornin

Are new college grads getting more and more entitled these days?? I just witnessed a new level of entitled-ness at my work. To give a bit of background, I work at an investment bank and middle of each year, we get our bonuses which usually make up a significant portion of our yearly compensation. The market was down this year so most of us were hoping to get a little less than usual. When I got my number, which was below my expectations, I was a bit annoyed, but still said "thanks very much," "I appreciate it" to my boss because I know I am still making much more than many of my peers. Right after me, two of the first year analysts that just graduated college and have barely worked here for a year, go in to get their numbers. One of them flat out said "Are you joking?" and another one was like "What is this??" I overhear from outside the boss saying "Sorry, but it was the market." The two guys come out and start crying. LITERALLY CRYING!!! These are 2 guys and they're crying in front of everyone! I go over and ask if their bonus was really that bad. By the looks of it, I thought they had gotten no bonus at all. Then they told me they actually got a little less than $50K as their bonus, but were expecting $55K. I wanted to smack their faces! This is their first job and already most people are making less than their bonuses and they're crying about it??? They explain that they worked so hard this year and should deserve what they expected. Since the market was bad - they should have been happy they weren't laid off! Sorry for the rant, but even though I am a few years older than these guys, I can't believe that blatant crying would be accepted anywhere at any workplace, let alone an investment bank filled with dudes, and let alone that they were crying over a 6-figure salary even though they're barely 22 years old.

that's unheard of (to me anyway). my base pay for my first job was 37k and i was lucky to even get that! i would have been over the moon if it was 50k! i know about encountering that horrible sense of entitlement while doing a customer service job but this? WOW.

$50K as a bonus? And they were crying because it was $5K less. They need to be snacked back into reality. That's some people's annual salary. Ugh

Originally Posted by KAOTIC

$50K as a bonus? And they were crying because it was $5K less. They need to be snacked back into reality. That's some people's annual salary. Ugh

I have to work nearly 2 years to get that... *sigh*

Quote:

They explain that they worked so hard this year and should deserve what they expected.

I teach college and regularly (not always) hear this about grades. It is rather annoying as effort does not always equal outcome. Period. Some people work a lot harder than others and still don't get the performance they should.

And to cry over 5k? Seriously? I want to smack them too. I wish I got a 5k bonus. I work two jobs, get child support and don't hit what those two new employees got in bonus alone.

while that story is absurd - i just want to add in that we're not alllll like that. i'm a recent college grad who grew up in a pretty affluent area, and pretty much everyone i know is just thankful to have a paying job. i know a few girls who were grateful to get unpaid internships right now. none of my friends are making more than 30-40 thousand a year and you don't see any of us crying about it haha. i don't feel entitled to anything, i've been out of school for 3 months now and i'm ecstatic i have a job with all of the current unemployment problems. i'm sorry you have to deal with such annoying co-workers!

Originally Posted by renza

Um, do they owe the mob? Because that's the only legitimate reason I can think of to cry over a $50,000 bonus, especially when it's only slightly less than they expected it to be.

Regarding I-bankers, I read that at the downturn people had already spent their bonuses before they even got them on stuff like housing, education for kids, car loans, etc. So when they got less, they really had a hard time of it.

That said, if you don't have 5k worth of wiggle room in your expectations/savings you are maxed out and need to take a step back.

Originally Posted by BookerMoose

I have definitely noticed this at my law firm over the past 10 or so years. The students and young lawyers for the most part come with a similar sense of entitlement as this - they seem to arrive with clear expectations as to salary, bonuses and work/life balance (which essentially means that they will insist that they have it, so the more senior lawyers have to pick up the slack (given that our clients' expectations and requirements do not take into account work/life balance) and are working longer and harder while the young-uns go sailing and the like) - and also as to the quality of work, so that they will refuse to take on work that they don't find interesting or challenging enough (so, again, the more senior lawyers have to do it instead). I was actually remarking with our student coordinator just a few weeks ago how sad it is that we now specifically notice when a student DOESN'T arrive with that sense of entitlement. I know from speaking with colleagues at other firms that they see the same thing - so it isn't just that we tend to hire the overprivileged offspring of successful parents (although we do tend to do so). A friend who is a doctor said the same thing about that profession, too...

This is really interesting to be. I'm at a firm and recently offered to trainer a junior associate who wanted to what I do as a courtesy since none was spending the time with him. Well I got lots of enthusiasm but zero work or effort! He literally blew off the minor assignment I have him. I'm not that senior but in my opinion I was really doing him a favor. What is probably the craziest part is I think he thinks it is enough to act enthusiastic and "charm" people.

Originally Posted by goodmornin

Are new college grads getting more and more entitled these days?? I just witnessed a new level of entitled-ness at my work. To give a bit of background, I work at an investment bank and middle of each year, we get our bonuses which usually make up a significant portion of our yearly compensation. The market was down this year so most of us were hoping to get a little less than usual. When I got my number, which was below my expectations, I was a bit annoyed, but still said "thanks very much," "I appreciate it" to my boss because I know I am still making much more than many of my peers. Right after me, two of the first year analysts that just graduated college and have barely worked here for a year, go in to get their numbers. One of them flat out said "Are you joking?" and another one was like "What is this??" I overhear from outside the boss saying "Sorry, but it was the market." The two guys come out and start crying. LITERALLY CRYING!!! These are 2 guys and they're crying in front of everyone! I go over and ask if their bonus was really that bad. By the looks of it, I thought they had gotten no bonus at all. Then they told me they actually got a little less than $50K as their bonus, but were expecting $55K. I wanted to smack their faces! This is their first job and already most people are making less than their bonuses and they're crying about it??? They explain that they worked so hard this year and should deserve what they expected. Since the market was bad - they should have been happy they weren't laid off! Sorry for the rant, but even though I am a few years older than these guys, I can't believe that blatant crying would be accepted anywhere at any workplace, let alone an investment bank filled with dudes, and let alone that they were crying over a 6-figure salary even though they're barely 22 years old.

wow just wow

Originally Posted by Frugalfinds

I'm a college instructor and I don't make as much as their bonus... I don't think it is just the 'rich' kids who feel this way. I have students all of the time who expect to make tons of $$$ right out of college. In fact it isn't just limited to money. I once had a student tell me that I should do what he says because he pays my salary. They have all been coddled and expect the world to provide for them. I'm not a lot older than them, but it sickens me.

wow what a piece of work

should also note that Op is in San francisco and the rent here is high and it's also expensive to buy..a house in the sunset or Richmond dist. which is suburban like is 600k average. can go higher, I doubt it dips any lower then that

condos are like in the 300/400k IF you're lucky

and downtown..? easily a mil depending on the building and what part of downtown..soma or dog patch.

it is definitely not cheap to live in Sf, can be done if you have been renting for the past decade or so thanks to rent control but as a young grad--you're looking at 1k about, a little less or more depending on area again, to rent a ROOM for a month

never mind having your own place.

so 50k bonus may seem a lot, and it is no chump change, but between school bills, rent and saving for possible house in future on top of all the day to day expenses..