Apparently kids these days don’t want to get into banking, and are being lured by the bright lights of the tech scene instead. The Financial Times reported this week that finance graduates are abandoning their two-year grad schemes on Wall St, in search of more casual environments and a stable work-life balance. They highlight that the current generation of young people, aka Millennials, want to make a difference more than they want to make money. FT spoke to Simon Collins, UK Chairman of KPMG; “To motivate my generation was easy, you threw scraps of cash at us and kicked us. This generation is looking for meaning in life, which candidly and shamefully, I don’t think our generation was.” London Business School has also revealed that the percentage of graduates entering the financial services industries has fallen from 46 to 28% between 2007 and 2013. In the same time, the percentage of those entering positions in the technology sector has tripled.
With entrance to the tech sector becoming more competitive, we wondered which Ivy League University is churning out the best tech grads? Apparently, none of them, as almost 1 in 4 of the world’s self-made billionaires are college drop-outs. This has brought many school-leavers and businesses to question the current system, and driven some to explore how to educate a generation that seeks purpose in their work.
AT&T have recently vocalised theirinterest in supporting online education platforms. Udacity’s Nanodegree is a “new type of degree” that has been designed in response to the shift in Millenial’s behaviour. It is a ‘lifelong learning portfolio’ that plans to support users and provide valuable credentials that will be widely recognised by the tech industry. Stanford’s ‘How to Start a Startup’ course boasts some of the best guest lecturers alive. So, with cheaper, more time efficient learning resources appearing online, school leavers have an interesting decision on their hands.