BROADER HORIZONS: SUCCESS ON YOUR OWN TERMS

Though my generational challenges work focuses on the workplace, the parent-child dynamic surfaces there in so many ways and goes beyond the "helicopter parent" phenomenon. The choice of careers is one, and it is being highlighted as high achieving students from elite colleges as well as others confront the fact that in today's economy they are being shut out of highly sought, lucrative financial and business services careers they thought were theirs for the asking.

In a New York Times article (4/18/09) titled "Looking Beyond Wall Street," Steven Greenhouse interviewed Wharton students. Many of them have had to switch their goals of landing finance/Wall Street- type jobs given severely limited opportunities - and several feel liberated!

Here are some examples of change in direction:

*  After a JPMorgan Chase internship with no offer,  pursuing a teaching job in Dubai or working for a wine importer

*  From pursuit of jobs in finance to thinking about becoming a rabbi

*  A finance major (music minor) thinking of opening a jazz club

*  After an internship at Goldman Sachs with no offer, pursuing her entrepreneurial dreams by starting a specialty shoe company

Several of the students cited the pressure to go into investment banking from parents and peer pressure. Now directions that a few years ago would have been nixed by parents who thought an expensive education should bring high financial returns are acceptable. One director of career services said students are looking at a wider array of brass rings and are less caught up in brand recognition.

Interestingly, many Baby Boomers experienced the same parental pressure to be a doctor, lawyer or engineer (or some such career) because parents thought those to be prestigious and highly respected. And many are sorry they didn't follow stronger, often more creative interests.

As they think about their encore careers - their next career/life destinations, I hope they will re-surface those dreams or new ones and go for the joy of it (as long as they can be financially self-sustaining).

It's time for new definitions of success - on our own terms! Perhaps the Gen Y/Millennials will abandon the brand names and desire for the highest paying jobs and discover the "meaningful work" they have been seeking is elsewhere. And the same for the Boomers.

Phyllis Weiss Haserot    www.pdcounsel.com