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Generation Y differs in its beliefs, aspirations and attitudes from previous generations. This study explores the expectations of the present generation with regards to personal and work life balance, considering parents and gender influence, as well as their impact on professional choices. A self-administered questionnaire was answered by 217 undergraduate students. The results allow observing that these youngsters give priority to intrinsic work aspects and are interested in developing and balancing their professional careers and private life demands. Gender does not have a significant influence. This study provides a guide to understanding the expectations of the youth in face of the labor market. [ABSTRACT FROM AUTHOR]