Is the Millennial Brain Drain still happening? Or is there a new trend begining in the U.S.A.
Luke McKee / December 5, 2014
Recent years in the United States have shown a trend when it comes to the work patterns of the millennial generation. It has become popular for millennial students straight out of university and college to leave their mid-sized states and cities in order to pursue employment in larger, more attractive urban communities. The migration of young, educated people away from their home states has left some of those mid-sized areas with great concerns as it’s skilled future leaves for New York, Los Angles, or Seattle. It seems though, that there is a potentially new trend that may develop as some begin to gradually return, those same people who once left for greener pastures.
The return of the 30 year old seems to be what follows the trend of millennial migration. It is becoming more common for the millennial generation to leave for larger cities when they are young due to opportunity, but once they have an established network and skill set they begin to return home to the mid-sized states. There are several reasons for this return, not the least among them the sentimental pull of a hometown or state. The familiarity of being close to home is a major draw, particularly after the wandering years of being a 20 something professional. The draw becomes even greater when the economic and cultural state of the home city is factored in. Many return to help rescue a city that gave them so many great memories.
Beyond the emotional tug of a home state, there is also sound financial reasoning for returning to the mid-sized state and city. It is expensive to live in the major cities of the United States, and for young people still paying off college and university loans, there is a fiscally responsible appeal to move to a cheaper area. The fact that there is a lower cost of living, combined with the jobs available makes it hard to remain in a city where the cost of renting an apartment may be well over double the price of a mid-sized city’s apartment. Sentiment and sound money saving opportunities make moving back towards the mid-sized city highly appealing.
Another trend that has also been noticed though, is that the opportunities presented for people willing to take a risk are far greater. In the larger cities there is far more competition, many skilled companies competing to be the best at one specific task. In mid-sized states it is far more spaced out, there may be areas where competition is almost non-existent. For those willing to take a chance at creating something from scratch, there is opportunity to make something. While it may not be as stable initially as a job in the larger economic climates, it has the chance to grow into something far larger.
Opportunities remain in the mid-size states and cities, and while big cities may offer the glamour and urban environment, there can be just as much found in the mid-size. The draw is proving irresistible for some people, so is the brain drain still a thing? Or is it all starting to even out.