Money isn't everything: Attitudes of young workforce changing

    Survey indicates high pay is less important to today's recent graduates
    than it was in the past

    TORONTO, Aug. 14 /CNW/ - When launching their careers, only 16 per cent
of today's under-30 workforce believe salary is the most important factor in a
job. This is down significantly from the 25 per cent of workers over 40 who
say salary was their primary consideration when they started out.
    This shift in values is revealed in a new national career survey
conducted by Decima Research for RSM Richter, one of Canada's largest
independent accounting, business advisory and consulting firms. The survey
directly compares the career priorities of the under-30 and over-40 age
    Carried out between July 20 and July 29, 2007, Canadians under 30 and
over 40 were asked to rank the most important things a company could offer for
them to consider an employment opportunity.
    "Money can't buy you happiness, and these days it can't buy young talent
either," said Lisa Fusina, Human Resources Manager, RSM Richter -
Toronto/Calgary. "Because money is less of a motivator for young professionals
than ever before, we find smart businesses paying more attention to career and
professional development issues to attract this new generation of workers."
    The survey found when people over the age of 40 were seeking their first
jobs, monetary compensation was higher on their list of importance than it is
for people under 30 today. This suggests that the younger workforce may not be
swayed by offers of a better starting salary; they value opportunities for
career growth and professional development far more highly than a bigger pay

    When asked what the most important thing a company could offer, findings

    Most important factor when                     Under 30          Over 40
    starting a career                                          (looking back)
    A job with high monetary compensation       16 per cent      25 per cent
    Career growth & professional development    37 per cent      30 per cent
    Direct access to senior management           5 per cent       4 per cent

    Access to senior management a surprisingly low priority

    Ranked last as the most important thing a company could offer for both
respondent groups was direct access to senior management.
    "The relatively low priority of direct access to senior management was a
surprise to us," said Cherine Zananiri, Manager of Human Resources, RSM
Richter - Montreal. "At RSM Richter, we find there's a direct correlation to
career growth by having the ability and opportunity to engage senior partners
in day-to-day decision making."

    About the survey

    This telephone survey was conducted with 259 Canadians under 30 years of
age and 724 Canadians 40 years of age and older. The survey was carried out
between July 20 and July 29, 2007 by Decima Research Inc. Results of the
"under 30" survey can be considered accurate to within plus or minus
6.1 per cent, 19 times out of 20, and results of the "40 and older" survey can
be considered accurate to within plus or minus 3.6 per cent, 19 times out of

    About RSM Richter

    RSM Richter is one of Canada's largest independent accounting, business
advisory and consulting firms. Founded in 1926, RSM Richter provides financial
advisory services in the areas of corporate restructuring, litigation support,
forensic accounting, business valuation, corporate finance and insolvency. RSM
Richter has full-service offices in Calgary, Montreal and Toronto.

For further information:

For further information: Media Contacts: Karen Passmore, Laura
Lamontagne, Argyle Communications, (416) 968-7311, ext. 228, 226,,

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