Every summer, a new cohort of graduates enter the workforce. Eager to learn and grow, many will get their first taste of professional life. It is an exciting new chapter for many of them. But what are these emerging practitioners looking for in their new careers? As firms struggle with retention and talent acquisition, an understanding of what new graduates look for in an office can be a valuable investigation. What is it that they value most? Money over time? Or vice versa? And does one have to be had at the expense of the other?
Professor Ashley Whillans has a take. Her research shows a mix of values amongst students, some valued money more so than time and others time more so than money. This comes from many factors, such as the upbringing of the individual. "People who grew up in households that fought about money also are more likely to focus on money (versus time) as adults, even if they have a lot of money in the present," Whillans writes.
The professor discovered that over time, those who valued time tended to be happier than those who valued money. They were more inclined to choose to work at something they "wanted to do" as opposed to something they "had to do." Whillans says that "most of us focus too much on salary and prestige and not enough on enjoyment." This explains her findings; graduates who sought meaning and fulfillment reported greater happiness in the jobs they had chosen.
Look, sometimes it's tough not to think about money if we find ourselves in a tight financial spot. Perhaps, student debt, medical bills, a growing family. Whatever the case, there are those who value time but still must select a job that they "have to do" in order to make ends meet. Whillans addresses this. "People with objective financial constraints — like college students graduating with high levels of debt — are more likely to focus on having more money (versus time)," she writes. Sometimes, early sacrifice provides an avenue to more flexibility down the road.
Whillans elaborated on the point that valuing time over money does not necessarily mean that one works fewer hours: "...people who prioritize time do not work less (many clock 50- to 60-hour workweeks), or even make less money; they are happier because they are more likely to pursue activities they find enjoyable," she says.
It appears that time value doesn't have to mean more time away from work but rather more time doing what is enjoyable.
Architecture work culture and its relationship to the job market presents many points of discussion. There are questions of internal office structure: looking at how the studio model compares to a more departmental structure. Even talks of hierarchy: is it better to have a flat structure, or do teams work more efficiently with clear views of its members' place on a totem pole. More recently, we have examined topics of labor practice: exploring burnout, fatigue, long hours, and overworking.
The question of values is another one, and for firms that strive for happy employees, research suggests that meaning and fulfillment are two characteristics that influence this result.
It seems like there is an uptick in articles that discuss "firms struggle with retention and talent acquisition..." I think that it is a good discussion to be had because I'm struggling with how to find a place that I want to work at. Over half of the firms that I've worked at, the principals made it a struggle to come to work, some borderline an abusive relationship. Another thing, as mentioned above, sometimes the only way to advance is to move on. I think at this moment, the number one thing for me is a comfortable work environment where others are treated with respect. Work/life and compensation are a close second.
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that article isn't really applicable; its not like someone is choosing between twbta (nyc) and allied works (pdx) and there's an inflection point on compensation. you're getting paid like shit either way. you're probably going to be doing lots of unpaid overtime. you're going to have to deal with abusive management. there will be no employee policies or benefits or vacation time, unlike the student in the article who is choosing between a big corporate job or a job back home.
I would argue the turnover among fresh graduates is due the fact they want to diversify their experience AND seek salary raises. It's our best [financial] interest to switch jobs every two years. It might be a service industry thing, or simply an architecture thing, but it's not that common for architecture firms to provide built-in salary raises for tenure. Two years tends to be the threshold for the "should I stay or should I go", and most firms don't offer an automatic salary increase with no position title change. In general, fresh architecture graduates are not getting paid that much in our profession, so we need other incentives ( great projects, learning a lot, great mentors, work life balance) to stay for medicore pay. If not, then we look elsewhere. While you never know for certain if the studio culture will be better the next time around, you can at least lock down better salary upfront in a job offer. Imo, I don't think the time vs. money question has shifted that much for graduates, but I like that this article is touching base with what generational shifts may be.
I totally agree with the changing jobs early on. At least for me, when I was working traditionally, early on I switched jobs quite a bit and it allowed me to learn a lot more than I would have if I stayed at the same place. Like you said, it was always a moment of feeling like it was time for something new and I knew I would be more valued as a new addition to a different firm as opposed to keeping the status I had at where I was leaving. Definitely an interesting phenomenon
"I knew I would be more valued as a new addition to a different firm as opposed to keeping the status I had at where I was leaving. " Wholeheartedly agreed.
It seems like there is an uptick in articles that discuss "firms struggle with retention and talent acquisition..." I think that it is a good discussion to be had because I'm struggling with how to find a place that I want to work at. Over half of the firms that I've worked at, the principals made it a struggle to come to work, some borderline an abusive relationship. Another thing, as mentioned above, sometimes the only way to advance is to move on. I think at this moment, the number one thing for me is a comfortable work environment where others are treated with respect. Work/life and compensation are a close second.
@work, it is definitely a big topic of discussion for many professionals. The values you expressed: good work environment, work-life balance seem to be at the top of many people's lists, even more so than pay. There are firms who are starting to embrace these values but the culture as a whole still has some challenges.
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