“The first startup shut down. The second was hit by an audit after financial misconduct by the founders. Each time I managed to land a job quickly, but the mental stress was overbearing,” he said.
Now 36, Bhattacharya works with an Austria-based startup while pursuing an executive MBA from IIM Ahmedabad to strengthen his CV. But he worries about Europe’s weak economy and the mid-30s squeeze, as employers are thinning middle managerial roles. “At my level, companies would rather hire three juniors who cost less,” he said.
However, younger professionals are no less wary. For 28-year-old marketing professional Srija Bovindala, the fact that her own team was let go while she was spared only deepened her anxiety. “Every day at work feels like this might be it,” she said. “I constantly have one leg outside, scanning what’s next.”
In Bangalore, Vasudha (last name not used to protect identity), a 30-year-old HR professional, echoes this uncertainty. “I’ve seen many colleagues I’ve worked with closely being handed pink slips over the last year. It’s difficult to see the logic behind each layoff, so there’s no way to tell if I’m the next. It makes giving your best at work feel conflicting because performance is clearly not the only thing being considered.”
For professionals in their late twenties to mid-thirties, like Bhattacharya, Bovindala and Vasudha, the idea of a steady job and linear career growth already feels like a relic. Across tech, HR, marketing and data science, layoffs have become so commonplace that even high performers say they live with one eye on the exit door.
Financial advisors confirm that this sense of uncertainty is not just paranoia. “Career uncertainty has become an accepted factor in financial planning,” says Manikaran Singal, managing director and principal officer, Good Moneying Wealth Planners. “High-paying jobs are being lost overnight, especially with AI-driven disruptions and global slowdowns.”
In this story, second of Mint Money’s special series on evolving job markets, Mint spoke to four millennials to capture how this generation is balancing ambition with fear and rethinking money, work and even life milestones.
Changing attitude towards money
The ripple effect is showing up most starkly in people’s money habits. These young professionals are changing gears from chasing high-growth, high-risk bets, which were typically backed by optimism about rising salaries, to prioritizing liquidity, emergency buffers and insurance.
Bhattacharya and his wife once invested all their disposable savings into direct stocks and aggressive equity mutual funds. After being blindsided twice by job losses, they now allocate more to bonds, debt funds and even gold for diversification and emergency access. Their biggest safeguard is an emergency fund specifically meant for job loss, which can cover rent, EMIs and household expenses without touching long-term investments. “Though my wife’s salary acts as a cushion, we have realised it is not enough,” he said.
Prince Mitra, 32, a machine learning professional, has taken a different route of seeking professional financial planning advice. Working with an advisor has helped him buy adequate health and term insurance, rework investment goals and stick to disciplined saving. “Earlier, I only focused on expenses and short-term spending, but working with a professional has helped me prepare better for events like a job loss,” he said.
Mitra believes layoffs are no longer only about individual performance but are shaped by global instability and economic slowdown. “We all saw what happened during Covid, when salaries jumped 200–300% in some cases due to VC money flooding the markets, but now companies are correcting those imbalances, especially in tech.”
Professional advice has taught him to avoid large financial commitments to ride through these uncertain times. “I’m strictly avoiding a home loan currently,” he added.
Vasudha and her husband are also considering professional advice to manage their home loan and maintain financial buffers. “We have ample liquidity in the form of fixed deposits and mutual funds, but we need a concrete financial plan. Home loan has changed our priorities and we don’t want a situation where we exhaust all our liquid savings in case of an emergency,” she said.
Advisors say that this new reality has pushed young professionals to prioritize financial security over aspirational spending. “Even though individuals in their late 20s to mid-30s may have more flexibility and fewer responsibilities, a minimum of 6 months’ emergency fund is essential due to uncertainties in the current job market,” said Ajay Pruthi, founder, PLNR and a Sebi-registered investment advisor. “An emergency fund should cover your expenses, EMIs and insurance premiums, but not investments.”
Singla agreed, and said situations also influence the advice. “For those under 35, I typically recommend setting aside about three months of expenses as at this age people tend to have fewer responsibilities, greater flexibility and higher resilience, but today, with sectors like IT being more vulnerable, I am advising people to strengthen their emergency funds to six months.”
Uncertainty shaping life goals
Uncertainty isn’t just reshaping investments, but also altering life milestones. Mitra and his wife, both in their early 30s, are deferring house ownership. “Taking on a home loan right now feels like an unnecessary risk. A house is an emotional purchase that can trap you in EMIs for decades,” he said. “My priority is to have enough liquid savings to cover me and my wife for emergencies,” he added.
Even retirement age is now contingent on financial stability. “I’ve seen people talk more and more about early financial freedom,” said Pruthi. “The goal is not to retire at 40 and do nothing. It’s to reach a point where working is a choice and not a compulsion.”
This new reality has also led to young professionals worrying about their biggest financial fears. For instance, even though Mitra has savings for contingencies and health as well as term insurance, he worries about prolonged unemployment that will exhaust his emergency fund and he will fail to meet his household needs. “What if I don’t find a job for a year or have to compromise for a low-paying job,” he said.
Vasudha, on the other hand, fears being trapped in debt. With a mortgage already in place, she knows income disruption could make repayments unmanageable, turning security into a burden overnight.
Financial advisors agree these fears are realistic but also manageable with the right safeguards. “An emergency fund of at least six months’ expenses is essential,” said Pruthi. “For those with dependents, term insurance and health coverage are non-negotiable.”
Singal added that even confident younger professionals often underestimate hidden vulnerabilities, such as EMIs, rising rents or uncertain ESOP (employee stock ownership plan) encashments, that can unravel financial stability faster than expected.
Side hustles, upskilling, and early retirement
When job loss is a real possibility, many young professionals hedge by upskilling or diversifying income through side hustles.
Bhattacharya pursued several online certifications that boosted learning but added little to his resume. “I definitely learned a lot, but they failed in landing me interviews,” he said. His executive MBA, though costly, is a deliberate bet on credibility and the networking potential of the B-school’s alumni. “It’s not a guarantee, but it’s a hedge against prolonged unemployability,” he said.
Bovindala, meanwhile, is preparing for a pivot. “If I get cut, I’ll start a small business so I don’t lose income completely,” she said. While building an emergency fund by saving 30% of her salary in a recurring deposit, she is more focused on her entrepreneurial plan, researching home-based products she could sell.
Advisors, however, urge caution on side hustles. “For those in their 20s and 30s, the priority should be professional growth and early financial freedom,” said Pruthi. “Diversifying income streams too early can distract from building expertise.”
For a generation once taught to dream big and chase growth, the recalibration feels stark. While the career ambition hasn’t disappeared, it’s tempered by pragmatism. The changing job landscape shows that while stability may be gone, control over skills and savings remains possible. In a world of routine layoffs, control may be the new security.
