But in other ways, a recession could come as a complete shock to Generation Y. They've never before experienced an as working adults, and the resulting budget and may come as a rude awakening for this entitled, coddled generation that expects special treatment from its employers. (For more reasons why the economic crisis could be a sobering experience for Generation Y professionals, see .)

Whether they're poised to withstand the economic storm or whether they're going to get soaked by it, will have to change their expectations of their employers and their behavior in the workplace-if they want to hold onto their jobs, career experts say.

1. Gen Y workers must understand that they can't have it all during a recession.

Generation Y is notoriously demanding of employers. In a 2007 , employers reported that millenials expect raises and promotions within a year of starting a new job, access to consumer technologies and lots of vacation time.

It's no wonder that they're so demanding: , a generational relations expert and author of , says that when members of Generation Y began entering the workforce four years ago, job security was a given, and some of them received generous signing bonuses. But that rosy economic picture is now history, says Orrell, who notes that starting salaries are going to be lower for millenials and perks like signing bonuses are now but a dream.