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    1. Generation Y: Understanding the Rude & Impatient Presented by: Vince Scalise Senior Vice President College Loan Corporation

    3. Quiz 2005 1955 1888 1977

    4. “But what…is it good for?” “This will change everything we know about computers.” “What’s next? Computers in every home?” “Dude, that’s small.” Quiz

    5. Thomas Watson, Chairman of IBM Bill Gates at his kindergarten graduation Ken Olson, Chairman of DEC Craig Conway, CEO PeopleSoft Quiz

    6. Each computer cost $10,000 Serves as a recipe database Contains a built in cutting board Came with an apron All of the above Quiz

    7. Quiz

    8. “Today’s kids are on track to become a powerhouse generation; full of technology, good planners, community shapers, institution builders, and world leaders. Perhaps destined to dominate the twenty-first century like today’s fading and ennobled G.I. Generation dominated the twentieth. Millennials have a solid chance to become America’s next great generation." - Anonymous America’s Next Great Generation

    9. Definitions GI Generation “Greatest Generation” Born between 1901 and 1924 Silent Generation Born between 1925 and 1942 Baby Boomers Born between 1943 and 1964 Generation X Born between 1965 and 1981 Millennials – Generation Y – Echo Boom Born between 1982 and today They are the children of Baby Boomers

    10. Millennials Numbers 60 million - largest group since the Baby Boomers (72 million) 3 times larger than Generation X Teen population is growing at twice the rate of the rest of America Made up 37% of U.S. population in 2005

    11. Statistics Millennials are busy What do they do with spare time? Tutor, soccer, hockey, community service,SAT Preps, internships/work, etc. Time in school increased 8.3 hours per week Household chores increased 3.5 hours per week Personal care (showering, dressing, hair care, etc.) up by three hours per week Travel/visiting increased 2.5 hours per week Non-custodial parents

    12. “Lightspeed” Media Near instantaneous communication 73% of all U.S. teens go online each month 74% use instant messaging 28% own their own cell phone (under 12) Just as important as telephones were for Baby Boomers Is email becoming “too slow” for them?

    13. Sample Text Messaging Abbreviations AAP ATM BRB BTDT CWYL LOL LYLAS WIIFM

    14. Sample Text Messaging Abbreviations AAP always a pleasure ATM at the moment BRB be right back BTDT been there, done that CWYL chat with you later LOL laugh out loud LYLAS love you like a sister WIIFM what’s in it for me? Source: www.webopedia.com

    15. Finances The average teen has $94 per week of disposable income Spending at a rate of approximately $172 billion per year Saving at a rate of $39 billion per year One in nine high school students has a credit card cosigned by a parent In general, they are better savers than their parents Interested in being fiscally literate Work an average of 17 hours per week One quarter of children under age six are living in poverty ($15,141) One quarter of children under age six are living in poverty ($15,141)

    16. Finances Where do they get their money? Work Parent(s) Grandparents Chores Combined purchasing of high-priced items One quarter of children under age six are living in poverty ($15,141) One quarter of children under age six are living in poverty ($15,141)

    17. Consumer Behavior Marketing experts and sociologist are keenly interested in the values and tastes of the coming generation View 500,000 commercials between the ages of three and 18 Teens are earning and spending more of their own money than any young generation before them Annual incomes average $211 billion for 18- to 25- year-olds “This is the most significant consumer group in America since the baby boomers.” - John Flanagan, Blue Engine market research

    19. Values Socially conscious Have grown up with actual or perceived material success of their parents; want to extend this and give back Value right to privacy Value the right to express their own views Diverse, but with commonalties, regardless of ethnicity, gender, sexual orientation or age grouping Care about traditional values such as stability, friends and family Desire successful family and work lives

    20. Information Overload Sheltered Well being of children dominates legislation Not as much freedom Education Starts younger More emphasis on test scores and preparedness

    21. Values on Education Rely not only on formal education for learning, but technology, adapting to the web and on-the-job training 73 million Gen Y’ers are the focus of undergraduate and graduate education institutions Today’s bachelor’s degree is equivalent to Gen X high school diploma Academic degree planning indicates*: Associate 5.5% Bachelor’s 28.0% Master’s 38.7% Doctorate 13.5% *Source: CIRP data 1998 (current data unavailable)

    22. Values on Education Average time spent on homework per week* 1981: 44 Minutes 1997: 123 minutes Number of seniors with advanced placement exams 1984: 80 /1000 1996: 239 / 1000 *Source: Inst. for Social Research: U. of Michigan (1999)

    23. Probable Attitudes and Behaviors of Millennials Confident Optimistic Socially conscious Self-aware Taste for ironic humor Savvy and informed Special/Invincible Sheltered Seek/expect instant gratification Committed Impatient Disengaged Disrespectful Image driven Blunt and expressive Skeptical Adaptable Innovative Efficient Resilient Tolerant

    24. Basic Characteristics of Millennials Somewhat less interested in politics First impact on national election in 2012 Have fewer role models in politics and sports; generally look to family members Desire emotional fulfillment and personal balance Ambitious, predicted to be “doers and achievers” Have not experienced full impact of a major war or an economic depression

    25. Why Is This Important to Know? We can’t assume that Millennials are like generations before them Better knowledge of audience leads to more effective communication

    26. Recommendations Written communications, consider having student authors for publications Use email as a communication medium - Millennials are experienced with it and will respond quicker Keep in mind that they will expect quick responses from you! Consider instant messaging or chat services as an option for communication Use more bulleted text and less paragraphs Move to web-based Entrance and Exit Interviews; overall, Millennials will adapt and respond better Web pages: cut back on words. Use bullet points. Have IM hours posted and have work study students handle basic questions.Web pages: cut back on words. Use bullet points. Have IM hours posted and have work study students handle basic questions.

    27. Recommendations Highlight the community service offerings for FWS programs Emphasis on campus safety/security Emphasize parental involvement and at the same time, help them transition away Reinforce the importance of budgeting Begin early - advising on financial planning for the time in school, repayment and for graduate school

    28. Recommendations Use low-level, quick bits of information Understand and respect their demands for quality service Use individualized communication such as personalized letters and email messages Use electronic communication whenever possible Web-based programs Electronic Award Letters E-signature Web-based loan counseling Electronic financial aid workshops

    29. Sources “Networks Turn from X to Y in Search for the Next Generation,” Seattle Post-Intelligencer, Barbara Vancheri “Hip-Hop Rules the Generation Y Market,” PR Newswire “Generation Y Has Interest in Being Fiscally Literate,” Richmond Times-Dispatch, Gene Marlowe “Generation Y Survey,” Good Morning America, Nancy Snyderman and Jennifer Parks, Ph.D. “Courting Generation Y,” Women’s Wear Daily “Retail/Broadlines: Generation Y - the Future of Retailing,” The Investext Group, J.M. Feiner “Generation Y Is On the Rise,” Dayton Daily News, Teresa Gubbins “Keeping Up With Generation Y,” Marketing, Jane Bainbridge “The American Teen-ager,” www.slate.com, David Plotz “Generation Y Is About to Change Everything,” www.moneypage.com, Karon Spear “The Next Big Population Bulge: Generation Y Shows Its Might,” www.recs.com, Melinda Beck Millennials Rising – Neil Howe and William Strouse Eric Chester & Generation Why

    30. Quiz Answers How many songs can a 40GB iPod hold? C. 10,000 songs, which is the same as 562 lbs of vinyl records, 87 lbs of CDs and 28 lbs of cassette tapes - and the iPod only weighs 6.2 ounces

    31. Quiz Answers D. 1977, spoken by Ken Olson the Chairman and founder of Digital Equipment Corporation

    32. “But what…is it good for?” Quiz Answers

    33. Thomas Watson, Chairman of IBM said this in 1968 Quiz Answers

    34. All of the above Quiz Answers

    35. 6. Match the Virus with its correct Description Al Gore Virus Dick Cheney Virus Hillary Clinton Virus Arnold Schwarzenegger Virus

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