Millennials in the Workplace: Why Mortgage?
As more millennials earn their degrees, they’re entering the job market with force. With growing concerns over how hard it can be for millennials to even qualify for a mortgage, you may not assume that this powerful generation is interested in joining the mortgage industry â but there are several reasons why they might.
Freedom Mortgage made a list to explore why more millennials are choosing to enter the mortgage industry today and what this means for the industry moving forward.
Reason #1: Millennials Are Financially Savvy
Millennials have watched their parents struggle through the recession and been hesitant to make large purchases or take on more debt than necessary. Theirs is also the generation that’s currently entering the housing market. Having grown up both financially aware and savings-focused, millennial mortgage professionals have a lot in common with today’s home buyer. They can relate to new home buyers on a level that older generations may not be able to, providing a new kind of service to a new generation of clients.
Reason #2: Millennials Are Technologically Advanced
Millennials grew up with information at their fingertips. They are quick learners who can grasp new platforms and software developments much faster than previous generations. Staying on top of new technology allows millennials to keep up with the industry and consumer expectations, while savvy use of today’s tech can improve communication with clients and streamline efficiency.
Reason #3: Millennials Have an Entrepreneurial Mindset
Millennials want to work on their own terms, and they want their work to have an impact. They prefer making their own schedules to accommodate a true work-life balance and ensure their efforts aren’t wasted. While they’re on the clock, millennials work tirelessly to achieve the outcomes they want, rather than working to fulfill an arbitrary allotment of weekly hours. Millennials want to make a difference in their communities, so joining an industry where they’ll get the chance to guide families through one of the biggest decisions of their lives makes perfect sense.
Reason #4: Millennials Like to Keep Learning
Millennials want to be able to learn and develop their skills throughout their lives and careers. Since the guidelines, required certifications and nuances of the mortgage industry are constantly evolving, it’s one of the best industries for curious, engaged and developmentally-intent millennials to enter. Beyond attending seminars, trainings, events and conferences, millennials in the mortgage industry can advance their careers with MBA, ABA, CMB and other specialty designations. In fact, all mortgage professionals can take advantage of continuing education.
Reason #5: Millennials Want Transferable Skills
Along with advancing within a specific industry, millennials like to learn transferable skills that will impact all areas of their lives and future prospects. With a career in the mortgage industry, millennials can easily enhance their sales, communication, networking, technology, accounting and problem-solving skills. This enhanced and broadly-applicable skill set will serve to prepare millennials to make the most of their future both within the mortgage industry and in the world at large.