In 1992, Wharton professor Stewart D. Friedman noticed a significant shift in the aspirations of graduating MBA students regarding parenthood. Over the years, the desire to become parents decreased drastically, with millennials prioritizing successful careers over starting families. This trend is reflected in the declining birth rates in the US, where obstacles such as inflexible jobs, high daycare costs, and the lack of support in sharing household responsibilities deter young adults from embracing parenthood.
Shift in Parental Aspirations
Friedman, now a grandfather and professor emeritus, acknowledges the concerns of today’s youth, who worry about the future’s uncertainties, including the financial and environmental challenges of raising children. Despite the joys of parenthood, many young adults perceive it as a daunting responsibility, exacerbated by the societal emphasis on career achievements and individual fulfillment.
Credit: Bloomberg
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