The ‘quarter-life crisis’

It’s the beginning of a new year, you’re back at university after a lovely Christmas with friends and family, and you must re-adjust to being a struggling, independent adult. The caffeine intake increases to finish that 2000-word research paper due in 48 hours, and sleep is forgone to juggle society commitments alongside preparing for assessment centres. There’s also pressure to go to POP! in week 1, and catch up with friends after the long break.

These are all common issues in the lives of Warwick students.

With many societies planning their grand balls, and job applications due at the end of the month, it’s fair to say that every student is experiencing what we call a ‘quarter-life crisis’.

A quarter-life crisis occurs when you’re lost and confused about your career and your future. It’s the angst and bafflement that comes from transitioning into a mature and capable adult. Many presume that such ‘millennial problems’ are merely over exaggerated and we find ourselves caught under the archetype of being ‘entitled’. Here are, in my opinion, the top four problems facing millennials today:

1. Oversaturated job market

According to a special report by The Economist, millennials are the brainiest and best educated generation ever. Now this might sound like good news, but there’s simply an excessive supply of workers than the demand for them in the workforce. This has caused havoc for employment and leaves us with frustration at the beginning of our careers. With Warwick being one of the most career-driven universities in the UK, it is hard not to get trapped in the finance bubble. As a second-year PPE student myself, I can truly say that application season is absolutely manic, with everyone jumping on the bandwagon and submitting 40+ applications to top banks and consultancies. Additionally, our degree qualification only feels worth as much as our high-school grades now, as pressure is building to complete a Master’s or further training to compete in the job market. This breeds an unhealthy environment of  competition, full of stress and unhappiness.

2. Rising student debt

Following a rise in interest rates, the Institute of Fiscal Studies of UK has stated that average student debt is going to increase to £50,800. This leaves graduating students in very deep debt, and may force students to orientate their career goals on paying the debt back. Crippling debt can affect students’ confidence, but most significantly student debt can affect quality of life after graduation.

3. House hunting

This follows the previous point about excessive debt. As we all must have dealt with hunting for good flat-mates and a decent house in Leamington Spa for second and third year, we can all testify that the process is not just tedious but purely exasperating. Having to juggle another burden over and above our other commitments has left many students paying exorbitant rates for poor housing. Thus, many millennials are not willing to move out of their family house. Students, in general, are not optimistic about getting onto the housing ladder.

4. Deteriorating mental health

You may be wondering why this is the last point in this list of challenges faced by millennials. This is because all the above take a severe toll on our mental health. Statistics have shown that millennials are reporting the highest levels of clinical anxiety, stress and depression, of any other generation at the same age. Some may label us as being ‘young, entitled and lazy’, expecting success to just fall into our laps. I would argue, however, that millennials aren’t ‘entitled’, but are rather ‘obsessed’ with success. And this is because we are never taught that it is ok to fail. We live in a very idealistic bubble because we strive for perfection in every aspect of our life, but this is a feat that is simply unachievable. We expect ourselves to manage our society leadership commitments, do all the reading for our seminars, go to all our social events, get job offers after we graduate, have seven hours of sleep every day, and the list of ludicrous perfection goes on. Our mental health should not be taking a back seat to other commitments, and it is important to seek help if you feel you are struggling.

All in all, it is important to remember that every millennial in this world faces the same hardships. Give yourself the grace and space to fail, without calling yourself a failure.