The Bankwatch

Tracking the consumer evolution of financial services

How Gen Y are coming to dominate the workforce and new customer base

This graphic from CompTIA (Non-profit trade association) is fascinating.  Basically it says that GenX who represent about 1/2 the population of Gen Y are being quickly overtaken by Gen Y.  Gen Y are replacing Gen X rapidly and Gen X just get older.  This from a CompTIA report that highlights the extraordinary impact that Millenials will have on the workforce. 

I would add the impact on Banks, channel usage and expectation will be similarly dramatic.  We should be increasingly viewing the channels and account acquisition in context of Millennials expectations, as they gain income and wealth.

image

Refresher:

Generation X
Born: 1966-1976
Coming of Age: 1988-1994
Age in 2004: 28 to 38
Current Population: 41 million
Sometimes referred to as the “lost” generation

Generation Y, Echo Boomers or Millenniums
Born: 1977-1994
Coming of Age: 1998-2006
Age in 2004: 10 to 22
Current Population: 71 million
The largest cohort since the Baby Boomers

 

About CompTIA:

CompTIA is the voice of the world’s information technology (IT) industry. As a non-profit trade association advancing the global interests of IT professionals and companies, we focus our programs on four main areas: education, certification, advocacy and philanthropy.

Written by Colin Henderson

February 6, 2014 at 09:56

Posted in Uncategorized

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  1. Reblogged this on Underwriting Solutions LLC.

    underwritingsolutionsllc

    February 6, 2014 at 13:53


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