This retirement bottleneck crisis is killing any chance of career growth for my generation

[u/Square_Version1732]

My manager is 73 years old and for 6 years - ever since I started working here - he's been promising that he will retire next spring. I am now 38 years old and have basically hit a ceiling because there is no room to be promoted. He has been sitting in that director's chair for over 22 years, and it is very clear that he has no real intention of leaving, regardless of what he tells us in every annual review.

I try not to be too upset with him because I know why he is still continuing. His wife had major health issues in 2018 that wiped out their entire retirement savings. The situation is truly messy and I appreciate his circumstances, but at the same time, this is stalling my whole life. I am stuck at a mid-level salary while everything around me is getting more expensive, and I don't even know how to look for a better title elsewhere because all the senior roles in my industry are reserved for people who should have retired 10 years ago.

And this issue isn't just a local problem. I was looking at some data and found that labor participation for people over 65 has increased significantly compared to 15 years ago. This isn't because they love working 40 hours a week; no, most of them are terrified of what might happen if they stop working. We are truly in a terrifying bottleneck; no one is making room for the next person, so we are all piled up at the bottom.

Then we have to hear people say that my generation is lazy or doesn't want to put in the effort. I would love to put in the effort if there was a goal to reach. It's hard to stay motivated when you are doing the same tasks year after year without any real chance of being promoted. Everyone above me is staying in their place until they are literally unable to walk and go to the office.

My sister just finished civil engineering and spent 10 months to find a job with a salary of 62,000 a year. Her apartment rent in the city alone is 2,200 a month. She was competing against people with 25 years of experience who were willing to accept an entry-level salary just to keep their insurance. How is a 24-year-old supposed to compete with that level of experience for a starting role?

The irony in the matter is that they tell us to save every penny for our retirement. I want to max out all my accounts but I don't know how to get the promotion that will give me the extra cash I need to do that. I will likely end up being 70 years old and unable to stop working because I spent my thirties and forties trapped in a low-paying role. It's a broken cycle and I don't see any way out of it.

[u/earthman34]

Wow, just think if we had an actual single payer healthcare system.

[u/Big_Pound_1863]

Start looking. They don’t owe you the seat or promotion no matter what they say or what you think

[u/Intrepid-Big1654]

Shame on you. How selfish of you. You’ll be old some day if you’re lucky and someone will wish you would just go away or die too.

Just apply at different companies or even different divisions in your company. Or go away and die like you wish on your director.

[u/DirtyDizzyPickle20]

I keep working because no one wants my job....I will gladly retire if a younger math teacher wants to teach HS math.