Young people plan to flit between careers
6 June 2008
Only 16% of 16-21 year olds plan to follow the same career path for life according to research by Alliance & Leicester Current Accounts. Instead the research reveals a quarter (25%) of young people predict they will change careers to suit each stage of their life.
The research also reveals that choosing a traditional profession such as a doctor, teacher or electrician has been replaced by the desire to be famous, as many young people aspire to become a famous singer (25%) or even a celebrity or socialite (14%). Surprisingly only one in 20 (5%) wants to be a vet and only 8% fancy nursing, highlighting a move away from careers which involve years of study and are designed to last a lifetime.
Top 5 most popular careers for young people:
Musician, famous singer or band member (25%)
Working in the media (24%)
Celebrity or socialite (14%)
Fashion designer (13%)
Teacher / lecturer (13%)
Emma Walkley, Senior Current Account Manager at Alliance & Leicester said: "A job for life does not appear to be an attractive proposition for the youth of today. In years gone by, the idea of doing the same job for years was the norm, but it is now not suited to today's ambitious career chameleons."
When it comes to taking career advice, parents are the first port of call for the nation's youth, with boys keener on parental opinions than girls (40% vs 36%). Friends and teachers are also high on the list of advisers. Women appear more independent than men when it comes to career advice, with almost half (44%) saying no-one influenced their career decision compared to 41% of men. Many men prefer to speak to their parents or peer group for career advice.
Women change jobs more often than men
When it comes to job loyalty women are more fickle than men according to the research, with nearly nine in 10 (86%) saying they don't intend to keep the same job for life in comparison to just over one in eight (81%) men. Women are also more likely to want to change their career to suit different stages of their life (27% vs 23% of men), perhaps foreseeing the need to juggle a career with raising children.
Emma Walkely continues: "Changing careers is mostly considered as a positive move but it can also lead to peaks and troughs in your finances as you may find yourself starting a new career from scratch. The Premier 21 current account is designed specifically to give these youngsters the best financial start to their working lives. Its high 10% AER credit will make their pay packet stretch further."
The Premier 21 account offers the following:
10% AER credit interest on the first £1,000 for one year, followed by a ‘go to' rate that tracks the Bank of England Base Rate minus 1% (currently 4.00%)
Linked Plus Saver account with 5.25% gross p,a, / AER interest rate
Visa Debit card for use worldwide
Customers over 18 are able to apply for an interest free overdraft
Access to the account 24 hours a day via internet and telephone banking
Recommend a friend and you and a friend each receive a £25 incentive
For more information, visit alliance-leicester.co.uk/currentaccounts
