Passion over pay for millennials in IT

MAYFIELD VILLAGE: The adage that money moves men in tech is being proved wrong.

A new survey by Progressive Insurance shows that despite rising salaries, 81 percent of millennials interested in a new job in IT in the US would accept a less attractive compensation package to do work they were more passionate about.

The survey also revealed that 82 percent of millennials interested in IT are willing to relocate for a job they are interested in, and on average, they would be willing to move more than 600 miles.

Respondents said they would prefer flexibility over a salary increase, with nearly three in five (58 percent) reporting they would rather have a more flexible work arrangement–such as working remotely than a job that pays 20 percent more. Additionally, 70 percent reported they are not satisfied with growth opportunities at their current job and are not afraid to move on quickly.

In fact, nearly 1 in 5 would consider applying for a different job a month or less after starting a new job, with a total of 59 percent considering applying elsewhere within six months. On average, respondents said they visit online job boards or company career pages six times per week and receive an average of six messages from recruiters.

The survey was conducted by Wakefield Research on behalf of Progressive found that more than 2 in 5 respondents (42 percent) feel the insurance industry offers excellent opportunities in IT, following finance and banking (61 percent) and healthcare (47 percent), respectively.

Millennials are more idealistic than their parents when it comes to their jobs. Eighty seven percent of respondents feel they are more prepared to make an immediate difference at a new job than their parents’ generation, the survey found.

“With nearly 3,500 tech positions at Progressive, it’s important for us to invest in what makes this demographic tick to ensure we are poised for attracting the top talent,” the study noted.