The number of millennials working in the technology sector has exploded in recent years, a trend that’s been fueled by the rise of new platforms like Uber and Airbnb, and by the booming popularity of self-driving cars.
While the millennial job market has been sluggish for years, it has been on the rise, with the median wage among millennials in the U.S. increasing from $27,000 in 2009 to $44,400 in 2018.
That’s up from $28,700 in 2017.
And many millennials now want to work for companies with an established business model, including tech giants like Uber, Airbnb, Instacart and Homejoy, according to a survey by the Pew Research Center.
But they may not necessarily have the skills to do that.
In a recent survey of about 1,600 millennials, the Pew researchers found that while nearly a third of them said they were able to find work at companies that had a established business or marketing model, just 14 percent of them had the skills and experience to be a successful startup.
Millennials also are leaving tech jobs to pursue entrepreneurship, with more than a third leaving those jobs to go into other sectors, like finance, consulting and real estate.
One in four millennials surveyed said they planned to take a job that pays less than $15 an hour.
And the median annual income for millennials working full-time in tech, finance, real estate and consulting is now $60,000, according a report released earlier this month by the nonprofit Center for American Progress.
Millennials who want to start their own businesses are also moving into those industries.
Of the more than 300,000 millennials who have entered the tech sector, almost half said they had entered it to work on a new startup or business, according the Pew survey.
A recent survey by Zillow found that almost 30 percent of millennials have worked for startups and that nearly half of them were women.
The numbers are rising.
In 2017, there were about 4.4 million millennials working for tech companies, up from about 2.3 million in 2009, according, the report said.
But a report published by McKinsey & Co. last month found that millennials are not the only group that is moving into these fields.
About 1.7 million people between the ages of 18 and 35 are now working in real estate, accounting for 12.5 percent of all renters, according McKinsey.
Millennials are also more likely to be working in industries that rely heavily on digital platforms like Airbnb, Uber and Instacarn than other industries.
For example, a recent McKinsey report found that 44 percent of renters working in rental and home-sharing services were millennials.
That figure is nearly double the share for other industries, such as retail and hospitality.
While millennials have more options to work in tech than older generations, they still are struggling to make ends meet.
A 2016 survey by Wells Fargo found that the median household income for renters was $54,500 in 2017, compared with $43,000 for homeowners.
While many millennials say they’re able to save for retirement, they’re also struggling to balance their careers with family and personal needs.
About 36 percent of Millennials said they made $50,000 or less per year, and just 17 percent made more than $75,000 per year.
They also have higher rates of chronic health problems such as diabetes, obesity and high cholesterol.