The wage gap between older and younger workers is greater than when Boomers entered the job market.
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When Baby Boomers began to enter the job market in the 1960s, they found themselves in a tough spot. The huge supply of young workers outweighed demand for entry-level positions, leading to a slowdown in the growth of younger workers’ wages.
Luckily for them, the market dynamics would soon flip in their favor.
Today, Baby Boomers earn much more than their younger colleagues—which you might expect, since older workers generally earn more on average.
[This article has been republished, with permission, from Kellogg Insight, the faculty research & ideas magazine of Kellogg School of Management at Northwestern University]