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Higher Career Risks Come with Age

If you think the decision to go back to school as an adult to earn your business degree is a risk, you are in good company. According to a report released by Monster Worldwide in conjunction with Millennial Branding, willingness to take risks when it comes to your career increases with age.

The report is an outcome of Monster’s online Workplace Survey completed in November 2012 by a total sample of 2,828 Monster users. The results span across the three main generations of adult workers: baby boomers (born between 1946 and 1964), Gen-Xers (born between the late 1960s and early 1980s), and Gen-Yers, also known as Millennials (born between the late 1980s and early 2000s).

Although stereotypes suggest that the youngest members of the workforce would be the most inclined to takes risks, the survey indicates that 43% of baby boomers and 40% of Gen-Xers describe themselves as willing to take high risks at work compared to 28% of Gen-Yers. Additionally, 63% of baby boomers and 57% of Gen-Xers claim to be extroverted, but only 51% of Gen-Yers make this claim.

The survey also contradicts the belief that notoriously risky start-up companies are geared only towards younger generations, as 45% of baby boomers and of 41% of Gen-Xers consider themselves to be entrepreneurial compared to 32% of Gen-Yers. However, the risk taking of the two older generations when it comes to their careers in business may be considered more calculated rather than reckless, since a greater percentage of baby boomers and Gen-Xers indicate that they are more likely to stay “for the long haul” at their current jobs compared to the Millennials.

As the study suggests, increased age and experience might lead to increased confidence when making not only business decisions, but fostering innovative business ideas. “This survey revealed that the entrepreneurial spirit resides in all of us and across all generations of workers,” said Jeffrey Quinn the Vice President of Global Monster Insights. Whether you are making daring moves at work, starting your own entrepreneurial venture or going back to school to switch your job trajectory altogether, age does not have to a be a barrier preventing you from taking risks with your career.

According to the National Center for Education Statistics, 43% of college students in the US were over the age of 25 in 2011. It is never too late to take the next step in your career. Start exploring our business career programs in business administration and executive accounting to find out which degree at Northwestern College is right for you.