Generation Z sets its sights on the finance sector

Generation Z sets its sights on the finance sector

According to a new study, Generation Z aims to build a career in finance. 

According to a survey conducted among nearly 10,000 university students in 13 countries, including the US, Canada and Mexico, the future goal of Generation Z is to work in the finance sector. In a similar survey conducted in 2021, finance was the fifth most preferred sector. 

According to CNBC.com, the ease of recruitment processes and the ability to survive in difficult conditions such as the pandemic were effective in the popularization of the finance sector, which has become the most popular sector among young people between the ages of 18-25.

2023 WAS THE WORST YEAR FOR THE TECHNOLOGY SECTOR

According to AJ Aronstein, who has been advising college students on their careers for 15 years, 2023 was the worst year for the tech industry, especially due to increased layoffs. Finance, on the other hand, became a rising star thanks to the doors it opened for engineers, data scientists and developers. Full-time finance jobs increased by up to 26 percent.

WHY GENERATION Z WANTS THE FINANCE SECTOR?

• Compared to 10 years ago, the financial sector is seen as a more competitive market.
• The salary scale has shifted from finance to technology companies.
• Amazon, Meta and other tech companies have laid off more than 200,000 people. Layoffs in the financial sector are half that number. 
• Generation Z finds it safer to work at established financial firms than at start-ups. 
• Investment banking analysts move up much faster in their careers and earn better salaries. 
• Working in the office with job security and a regular salary is more preferred than working from home.

Source : https://www.cnbc.com/2023/06/28/finance-is-the-no-1-industry-gen-z-wants-to-work-in-says-new-research.html