Tag Archives: YouthSight

“Kids have unrealistic salary expectations!” says group of bankers

Another from the ‘kids are stupid’ file now, with the finding that pupils who have just gotten their GCSE’s aren’t fully acquainted with the realities of payscales:

GCSE results 2015: Average school-leaver expects to earn almost £90,000, Santander survey reveals

Bank says only 7% would consider becoming an apprentice which shows ‘there is still a lack of awareness’

The average school-leaver expects to earn an annual salary of almost £90,000 at the height of their career – despite the UK average being £26,500, according to new Santander research.

The bank, which is one of the UK’s biggest personal financial service providers, spoke with almost 500 Year 11 students to gain an insight into their career attitudes to discover they think they’ll be taking home £89,000.

Source: Independent, 21st August 2015

GCSE results day: School leavers reckon they’re going to be on £90k a year

If you know anyone getting their GCSE results today you may want to sit them down and have a word.

The average 16-year-old reckons they will be on £89,000 a year at the peak of their career with one in five expecting to hit £100,000.

The average salary, remind them, is currently £26,500 and while some of them undoubtedly will make a decent amount of money, their expectations are pretty unrealistic.

The findings are from a Santander survey aimed at gauging young people’s career attitudes and expectations, released the day students discover their GCSE results.

Source: Metro, 20th August 2015

First off, it’s worth highlighting that the story in both papers is merely a trimmed down version of a press release by Santander – meaning no original journalism, or likely even fact-checking, was done by either the Metro or the Independent in this case:

This is particularly telling, as the press release wasn’t overly interested in kids’ earnings over their career as it was advertising Santander’s apprenticeships, as we can see from the quote in the Independent coverage:

The results also showed how apprenticeships are being perceived among the group: only seven per cent would consider becoming an apprentice which, Santander said, shows there is still a lack of awareness amongst young people of the career benefits and opportunities available through becoming one.

HR director at Santander, Vicky Wallis, described how there is the perception amongst young people that apprenticeships are only for ‘hands on’, manual professions.

While young people have a good understanding of the value of college and university, she said, there is a significant number who are unaware of the benefits of apprenticeships.

She added: “We need to encourage young people to look into the vast number of opportunities available to them through apprenticeships and the multitude of sectors involved, such as banking.”

As for the kids and their sky-high salary expectations, while what they want to earn might not be too closely aligned to reality, to have this pointed out by workers in the banking industry is something of a pot and kettle scenario.