Millennials
What Is a Millennial?
Millennials are a demographic cohort, or age group, that falls between Gen X and Gen Z. They are called Millennials because the oldest members of this generation became adults around the turn of the millennium (the year 2000). This demographic is also known as Generation Y.
Millennials currently make up 36% of the workforce in the US, closely followed by Gen X (31%) and Gen Z (18%). Baby Boomers are the smallest majority now, making up 15% of the US labor force.
Millennial Age Range: What Age Are Millennials?
By the end of 2025, the Millennial age group will be between the ages of 29 and 44.
When Does the Millennial Generation Start?
Millennials were born between 1981 and 1996.
Each generational group falls within a range of birth years, and researchers use historical, economic, and social factors (among others) to determine the cutoff.
Here’s where the Millennial generation begins and ends in relation to others:
Who Are Millennials?
The Millennial age group grew up during the advent of the internet and personal computers. Many in this generation started their careers after the Great Recession of 2008, which likely took a toll on their finances and resulted in their careers progressing more slowly than other generations. Many Millennials also have high levels of student loan debt—on average, they owe an eye-watering $40,438.
Given this background, here are some of the key characteristics of this demographic:
- They’re tech-savvy. Millennials are comfortable using technology for both professional and personal purposes. In work environments specifically, they’ve adapted to technological advances and changed the way things are done for the better.
- They delay life milestones. Financial constraints and changing social norms have caused many Millennials to delay life milestones like marriage, homeownership, and starting families.
- They value experiences. Nearly 60% of Millennials prefer to spend money on experiences, such as travel and concerts, instead of saving for retirement.
It’s important to remember that these generational characteristics are based on statistical trends rather than inherent traits. After all, everyone is an individual.
Millennials vs. Gen Z
Millennials and Gen Z are often lumped together, but that’s because the two generations are more alike than you may think. According to Deloitte, both generational age groups have the following in common:
- They are cautiously optimistic about their finances.
- They believe environmental sustainability should be a concern for everyone.
- They feel uncertain about the growing use of GenAI in the workplace.
- They prioritize their mental health and work-life balance.
- They crave a sense of purpose in their work and will turn down roles that don’t align with their values.
What Do Millennials Value in the Workplace?
According to our 2025 compensation trends report, more than half (62%) of Millennials said they were looking for a new job. In another survey, we also learned that 78% of US workers across all age demographics who work remotely are feeling burned out. To better engage Millennials and increase retention, employers should:
- Encourage work-life balance. Offer flexible working schedules that respect personal time, such as unlimited PTO and remote work.
- Seek and implement employee feedback. The Millennial survey respondents feel they can positively influence their company’s products and services, DEI, development and training, and workload management.
- Be socially responsible. This generation believes that businesses need to take the lead in addressing social issues, such as inequality and environmental sustainability.
- Provide mental health support. Regular manager check-ins, access to mental health apps and therapy, and designated meeting-free days might help.
- Provide growth opportunities. Many Millennials don’t want just a paycheck—they strive for a greater purpose. Let them own meaningful projects, set up a mentorship program, and provide professional development resources.