Yuppies – young, upwardly-mobile professionals – embodied the “Greed is Good” mantra of the 1980s. Now 40 years after the original yuppie term was coined, a new report by Mercedes-Benz Vans reveals what it means to be upwardly-mobile today. Meet the yuppies’ puppies, the children of the yuppies, for whom a ‘Green is Good’ mantra is probably more appropriate.
 

The Yuppie acronym – Young, upwardly mobile professional or Young Urban professional – was first coined in the US in 1983. The Yuppies' Handbook: A The State-Of-The Art Manual for Young Urban Professionals, was published a year later and has been recreated by Mercedes-Benz Vans to celebrate the 40th anniversary this year.
 

In the US the yuppie image became synonymous with Michael Douglas’ ‘Greed is Good’ banker Gordon Gekko from hit film Wall Street.
 

In the UK yuppies lapped up corporate salaries, downed champagne in new city wine bars and counted jetting off on Concorde as a sign of professional success.
 

But our research reveals their children are driven by a set of values that would leave Gordon Gekko spluttering into his Beaujolais - having scaled down their global ambitions. Instead they are more likely to be self-employed or run small businesses and driven by a desire to change the world for the better.

When asked to define a successful business, we found the yuppies' puppies (aged 35-44 years-old) care far more about sustainability and morals than the previous generation.

We discovered:

• When asked about business priorities, more than three quarters (76%) cared about sustainability over making large profits at any cost.

• Almost seven in 10 (69%) prioritised being socially responsible over beating the competition and six in 10 (63%) cared more about making the world a better place than rising to the top of their industry.

• A huge eight in 10 (83%) considered a successful business to be one that prioritises employees having a healthy work/life balance over one where employees work late nights and long hours.

• Eight in 10 (83%) chose having a good company culture and value over having a large workforce.

When defining personal success, aspirations have changed significantly in the 40 years since the Yuppie moniker came to define a generation of conspicuous consumption.

We found:
 

• Where once working for a large corporation was aspirational, this has given way to the ‘professional managerial class’ - over half (59%) chose working for themselves over working at a large firm.

• Eight in 10 (83%) of this generation consider the ability to spend time with their family more aspirational than frequent international business travel.
 

• Almost seven in 10 (68%) consider having strong moral values more aspirational than earning the highest salary possible.

• Just 28% of respondents believe Gordon Gekko’s ‘greed is good’ mantra is relevant to business today while almost eight in 10 (78%) agree that businesses have a role to play in making the world a better place.

There is a clear indication that this generation, having grown up in the shadow of their parent’s success, is taking the initiative to undo some of the excess on their own business practices.
 

We found:

• Over two thirds (67%) believe that businesses should prioritise reducing their negative impact on the environment, no matter the financial burden.

• Seven in 10 (71%) would like to see more businesses making sustainable switches such as using electric vans, believing that if a relevant business can afford to change its fleet of vehicles they should do so.

• Almost half (44%) believe doing so is setting a good example - four in 10 (40%) believe it indicates a business is socially conscious, and almost four in 10 (39%) say it shows a business is ‘doing the right thing’.

Miles MacInnes, 40, runs Jascots, a wine business in east London which imports sustainable artisan wine from around the world.

The dad-of-three, from Hammersmith, west London, says the new report reflects how his generation are driven more by purpose and sustainability.

“My dad was a businessman in London in the 1980s. He worked long hours with frequent travelling as part of the job. My idea of success is very different to what drove the yuppies in the 1980s. For me, success is about finding harmony between work and family, being driven by purpose, sustainability and making a positive impact on the people you work with.”

“I believe every business has a responsibility to understand its environmental impact, and we’re constantly finding ways to reduce waste and packaging. In the last six years we’ve reduced our carbon emissions by 28% by making changes such as replacing one of our diesel vans with a Mercedes eVito electric van so we can drive around knowing we’re making a positive difference.”

The report also reveals how the blurred lines of hybrid working and working from home, mean yuppies' puppies have turned their backs on the handmade Italian suits, nouvelle cuisine and sports cars the yuppies became synonymous with.
 

• Nearly one in five (19%) said they dress down or wear activewear for work

• 17% described themselves as vegetarian, vegan or flexitarian

• More than a quarter (26%) own an electric vehicle.

Miles added: “I can picture my dad leaving the house every morning in his pinstripe suit, ironed shirt, tie and briefcase, but I rarely wear a suit, so I’m not surprised to hear that people my age are more likely to dress down for work.

“At home we’ve also taken steps to live more sustainably. We’ve cut down on eating meat to once a week as a family, we order veg boxes and subscribe to a milkman delivery to reduce waste, reusing the glass bottles wherever possible. I also cycle to and from work whenever I need to go to the office.”

Sarah Palfreyman, Mercedes-Benz Vans Sales Director in the UK, said: “Our research shows just how dramatically perceptions of business success and personal aspirations have shifted since the Yuppie era – truly from ‘greed is good’ to ‘green is good’.

“Seeing just how much the yuppies' puppies are rooted in their values and purpose is inspiring, they’ve taken the drive of their parents' generation and used it to prove business can be a force for good.

“Businesses have been through a lot over the last few years and we're proud to play a small part in helping keep businesses moving.”