Is 50 The New 30 In The Job Market?
A common fear of job seekers over the age of 40 is age discrimination. Will a younger, less experienced person, making less money, be the competition? We did some research to find out if those fears are warranted or all in your imagination.
The US Equal Employment Opportunity Commission states, “The Age Discrimination in Employment Act (ADEA) only forbids age discrimination against people who are age 40 or older. The law forbids discrimination when it comes to any aspect of employment, including hiring, firing, pay, job assignments, promotions, layoff, training, fringe benefits, and any other term or condition of employment.” So while it may not be a comfort that the US Equal Employment Opportunity Commission considers 40 old, it does provide some protection.
The last study on the US work force and age was conducted in 2013 by the US Department of Labor. It showed the age group with the most employed workers in all industries was the 45-54 year old age bracket, the second highest employed age group was the 25-34 age group and third was 35 to 44 year olds. The median age of the US Worker was 42.4 years old.
There are a few areas that are an exception including the health care fields of: pharmaceutical manufacturing, scientific research and development services, hospitals and advertising. In these fields the majority of workers are a little younger at 35 to 44 years of age. The advertising industry and the people who work in hospitals are even younger, with a work forces majority of 35 to 44 years old. Since 2013 to 2015 all indications point towards this trend of an older work force being the new norm.
So is this good news? It appears by the data that being 40-50 is not an issue. In fact, your competition is more likely going to be someone in your own age bracket, or close to it. The question remains, do you have to worry about being hired at a lesser salary? On this front the news is not good, but it’s not good for everyone, young and old alike. A report from the Economic Policy Institute finds wages for the vast majority of American workers have been flat or falling for entry level and experienced workers. An article from Payscale backs this up “stating that in general salaries cap out after 40”.
Overall the workforce in the majority of industries is getting older in the US, while salaries remain stagnant and in some cases have dropped. So if you over the age of 40, your fears of age discrimination should lesson but do not expect to get any significant pay increase.
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Account Director, South West - VMA GROUP
9 年The elephant in the room is that hiring managers rarely hire people older than themselves.
Top Performer | Channel & Direct Sales | Consultative Selling | National Accounts | Enterprise Solutions
9 年Although I do believe age discrimination exists in specific industries and/or positions (ie. sales), for the most part I believe physical age is irrelevant. More important is one's ability to appreciate the importance of understanding how to communicate with others in way which is meaningful to THEM, and to be constantly on the lookout for ways to add value - to higher-ups, colleagues, partners and clients. Unfortunately many people get lazy when it comes to "sharpening the saw" as they progress through their career, believing their vast experience and impressive accomplishments trump any need to concern themselves with trivial pursuits such as networking, researching trends, competition, successfully communicating with others unlike themselves. Then they complain about "age discrimination." During my 20+ years in technology sales I've seen many over 50 reps who just killed it ... simply because they were authentic, genuinely interested in other people, and always looking for ways to create meaningful relationships and add value to the lives of others. Age is irrelevant. Those who complain about it just aren't trying hard enough. Reinvent yourself. Be someone who inspires. Be humble and grateful. Help others. Make friends. Go beyond your job description. Keep your saw sharp. Take nothing for granted. Shine a light wherever you go. This, plus your experience, will take you everywhere.
I am committed to reshaping the communication and development landscape through cutting-edge AI technologies. My focus is on creating simple yet impactful solutions that enhance interaction and collaboration.
9 年I think 50 should be the new 50 in the job market. 30 lacks focus.
Sales, Operations, Business Development, multi lingual (English, Mandarin Chinese, some Spanish)
9 年Awesome! I'm back to 36 and ready to rock&roll.
Territory Sales Manager
9 年Some nice facts and a GREAT tag line that I can use in my interviews ... "50 is the New 30," except for the experience! At 58, and long past, what was once considered time to be retired, it is nice to get some good news. I feel more like "30" on the inside (what with all the advances in technology, Smart Phones, etc., that have helped keep me young), however that is tough to convey to potential employers when they look at me on LinkedIn or over the desk. Bottom line - you are as young as you feel, and as good as your last, major contribution. Keep your head up, and be able to tell prospective employers how you are able to help them/company, and be prepared with S.T.A.R. or P.A.R. examples. 58 is the New 28, stay thirsty my friends!