Over the past couple of years, millennials have been described as careless Instagram-addicted spenders who have no long-term aspirations. Yet, this couldn’t be more further from the truth. This year, more than ever, young professionals are determined to find financial freedom and live independently. In fact, this generation are well-educated, career-focused and willing to work hard in the hope of buying their first home. Saving up for a big purchase, let alone a home is a big deal – and realistically you need a career that has strong financial rewards that can help grow your savings account. But when it comes to finding a career that suits you and skillset, the search is often harder than it looks. For those that are motivated by success and have a great work ethic, recruitment has a growth framework that can help you fulfil your goals of homeownership without making any compromises.
Across the UK, millennial homeownership is at a record low. A recent study conducted by the Institute of Fiscal Studies found that home ownership among 24 to 34-year-olds has steadily declined over the past 20 years. Compared to other generations, the prospect of owning a home is out of reach for many young people living in Britain, and with more people renting than at any time in history, it feels like there is minimal hope. The rising cost of inner-city rents has also led to more cramped living conditions and a longer commute that is often expensive in itself, so it’s safe to say that this segment of the population has had enough.
“While there have been some steps recently to support house building and first-time buyers, up to a third of millennial still face the prospect of renting from cradle to grave,” says Lindsay Judge, senior policy analyst at the Resolution Foundation.
Rather than asking the bank of mum and dad for a loan, an increasing number of millennials want to know how they can take control of their future and their future earnings. Despite their strong ambitions for economic freedom, young adults still face an affordability gap that is disproportionate to their standard earnings.
Climbing the Ladder
Today, young professionals gravitate towards roles that will stimulate their minds, build their networks and provide plenty of opportunities to climb the career ladder. If you’re craving a job where you can make an immediate impact in a fast-paced industry, recruitment could be the answer. As a recruiter, you are given the chance to interact with candidates, clients and decision makers from the outset. Is it possible to make £60,000 in your first year of recruitment? As with most sales roles, the answer is theoretically yes. However, recruitment isn’t a job you should be doing if you just want to make a quick and easy buck. Like any fulfilling career, recruitment involves hard work to achieve the results you want.
While most recent graduates and first-time jobbers will take home a standard base salary, recruitment has the potential to offer you much more. It is a sector that is worthwhile and even more satisfying once you see your first commission cheque sitting in your bank account. With commission, it’s best to be realistic, because you only get out what you put in. In layman’s terms, successfully placing candidates into roles determines the commission you can make. Therefore, the more placements you make, the higher your commission.
“The earnings I have been able to achieve working at Spencer Ogden has enabled me to not only save money to buy a flat, it’s given me the capability of borrow enough money to purchase one in London,” says Tom, a consultant working at Spencer Ogden London.
“I’m confident that there aren’t many jobs that would have allowed me to do this in such a short space of time.”
There’s never been a better time for young adults, graduates in particular to enter recruitment. The industry is flourishing and is now worth over £32 billion in the UK alone. It’s a market that is target driven and if you exceed those targets can offer you a highly lucrative industry. And that’s not to mention the constant reward in knowing you are positively impacting people’s lives along the way.
It’s also a job that will equip you with a wide range of skills and provide you with a great grounding for your life and career. Whether you’re saving for a house or a five-star holiday, recruitment can help you close the affordability gap and turn what might currently seem like a dream into reality.
Spencer Ogden is currently looking for exceptional talent to join our expanding London team. If you are interested in recruitment and would like to understand what Spencer Ogden can offer you, please click here. Alternatively, please contact:
Talent Acquisition Manager
+44 207 268 9256