At just 28 years old, Cassidy O'Hagan embodies a lifestyle that is rarely attainable for most. She enjoys extravagant winters in Aspen and lavish summers in the Hamptons, traveling to idyllic destinations such as Puerto Rico, India, and Dubai—all aboard a private jet. Her luxurious lifestyle is financed by her employer as she works as a nanny for a billionaire family, which affords her numerous benefits beyond travel.
According to insights from the current job market, Cassidy O'Hagan enjoys a comprehensive package that includes a 401K, healthcare benefits, services from a private chef, and the luxury of a personal wardrobe for her role. This array of perks has led O'Hagan to represent a growing trend among Generation Z workers who find the financial incentives of high-income roles within wealthy households more enticing compared to traditional white-collar jobs.
Reflecting on her career trajectory, O'Hagan previously aspired to hold a corporate position in medical sales, earning around $65,000. However, after experiencing burnout and the demands of corporate life, she quickly transitioned back to nannying, recognizing this was a career path more suitable to her nurturing personality. Since then, her salary has significantly increased, estimated to be between $150,000 and $250,000, which highlights the income potential for personal service roles among the ultra-wealthy.
The rising number of billionaires globally, which has surged from 322 in 2000 to over 3,000 today, has fueled the demand for domestic staff who can manage extravagant lifestyles. Coupled with the economic phenomenon referred to as the 'rise of the everyday millionaire,' the number of individuals with $1-$5 million in assets has quadrupled in the past 25 years, reaching over 52 million.
For many members of Generation Z, the traditional corporate ladder is losing its appeal. A recent survey by Deloitte indicates that only 6% of Gen Z seeks leadership roles. This demographic trend emphasizes a prioritization of work-life balance via a movement termed 'conscious unbossing,' leading them to seek jobs with higher pay expectations than prior generations. A survey revealed that today's college graduates typically define financial success as nearly $600,000 annually—around six times the amount defined by Baby Boomers.
Despite the growing ranks of Gen Z professionals, many face hurdles such as a stagnant job market and increasing automation due to artificial intelligence advancements. Cassidy O'Hagan's story exemplifies a notable shift: many young adults are gravitating towards lucrative personal service roles in the high-net-worth sector, eclipsing the perceived stability of conventional corporate jobs.