SoFi Blog

For young professionals today, there’s been a “good news, bad news” financial scenario developing for a while now.

Good news first: The unemployment rate for college grads, ages 22-27, is finally on the decline. Recent data from the New York Fed outlines a 7.1 percent unemployment rate in March 2011 and a 4.9 percent in 2015.

The bad news? Despite the fact that there are more jobs available for younger workers, widespread wage stagnation and decline has made it hard for 20- and 30-somethings to play financial catch up. Add to that a record volume of student loan debt, and you’ve got an entire generation suffering from a generational “wealth gap.”

It’s that time of year. News has been abuzz with college acceptances—from Brittany who wrote a kickass personal statement (about Costco) to Kelly who got into all eight ivy league schools.

As the (you did it!) letters roll in, we’re sharing some stats that might help the soon-to-be-undergrads make a decision about where to go.

Have you ever caught yourself thinking, “I’d be happy at work if only I got a promotion/made more money/did something I’m more passionate about”?

Or maybe you read stories about people who are getting paid to pursue their dreams and think, “Why can’t that be me?”

Well, if it’s any consolation, you’re certainly not alone. Total career happiness is hard to come by.

So what gives? Are some of us just doomed to be unhappy at work forever?

Last week we hosted a negotiation panel in NYC. The intent? To discuss raises, promotions, and new job approaches with experienced talent acquisition professionals—and share the information with our community of members. One of the panelists, Gladys Chen, answers the most common questions from the conversation, below.  

Investing is a funny business.  Whether you invest on your own or you use an advisor, if you own stocks or bonds, you’ve probably had to answer a few questions about your investment style.  Questions, such as “Which portfolio would you choose?” and “How much do you know about investing?” These questions are intended to measure your risk, and, correspondingly, put you in the best portfolio for the amount of risk you are willing to take.

While well intended, this approach is a ridiculous way to drive investment decisions, particularly given the technology available today.