The Future is Bright Say Canadian Students
One-quarter of students think they will experience less stress in the workforce than at school, according to the D+H Student Index
TORONTO, Aug. 13, 2014 /CNW/ - Canadian students are optimistic about entering the workforce. Four in five feel positive about job prospects in their field and 25% think they will experience less stress at work than they do at school, according to the D+H Student Index, which surveyed 752 Canadian high school, post-secondary students and recent graduates about their outlook on life after post-secondary education.
According to the research, students expect the hardest adjustments when starting a career after post-secondary will be finding work/life balance (47%), learning things they didn't learn in school (also 47%) and doing a job that isn't satisfying (32%). A high salary is not the top perk a company can offer the next generation of new hires. Today's students are more interested in jobs that offer the opportunity to learn new skills (62% versus 57% who said a high salary is the top perk). Students also name a flexible schedule and the opportunity to advance quickly (both 56%) as top perks.
"The fact that students value the opportunity to learn and develop new skills more than a high salary shows this age group is making choices today that they think will help set them up for success in the future," said Ralph DeJong, Vice President, Head of Student Lending, D+H Canada, an industry leader in student loan and grant program administration in Canada.
When it comes to a starting salary, the majority (64%) of students expect less than $49,000; 26% expect less than $30,000. One-quarter (24%) of students have higher hopes, expecting to earn more than $50,000 as a starting salary. Students expect their salaries to increase as they gain experience. Interestingly, this expectation of increased earning power is more apparent in men. The majority (54%) expect that in ten years they will earn more than $80,000 compared to only 33% of women. This expectation is realistic according to the National Household Survey, which was released last year by Statistics Canada and reported the average employment income for university graduates working full-time in 2010 was $80,500 a year*.
Eighty-four per cent of students who fund all or part of their post-secondary education with a student loan are optimistic they will pay it back in a reasonable time frame. The majority (57%) expect they will pay back their student loan within five years of graduation. In fact, 29% expect they'll pay it back within the first two years after graduation.
"I was pleased to see the optimistic, yet pragmatic outlook students have for life after post-secondary. Students view post-secondary education as an investment that will pay off when they enter the workforce," said DeJong.
Four in five students think post-secondary education prepares them for the working world. Among those who are most likely to feel prepared are students who discussed financing their post-secondary education with their parents (86%) before starting school.
The full D+H Student Index on Student Optimism with more information on Canadian students' outlooks for life after post-secondary education graduation is available at: http://dhltd.com/wp-content/uploads/dh-student-index2.
About the D+H Student Index
The D+H Student Index is based on an electronic survey of 752 Canadian students (in high school who are intending to attend a post-secondary institution, currently attending a post-secondary institution, planning to attend post-secondary in the next two years or having attended a post-secondary institution within the past two years). Surveys were completed between April 30 – May 6, 2014. The poll has a margin of error of +/- 3.0% and was conducted by Environics Research Group.
About DH Corporation
D+H is a leading provider of secure and reliable technology solutions to domestic and global financial institutions with a reputation for being a trusted partner that helps clients build deeper, more profitable relationships with their customers based on rich industry and market insight, and consumer knowledge. Today, approximately 7,000 banks, specialty lenders, community banks and credit unions rely on D+H to deliver solutions across three broad service areas: Banking Technology Solutions, Lending Solutions, and Payments Solutions. Our integrated, compliant technology solutions enable clients to grow, compete, and optimize their operations, while our forward looking approach helps them stay ahead of the market and anticipate changing consumer needs. D+H is one of the world's top FinTech companies as measured on the FinTech 100 list.
*Statistics Canada 2011 National Household Survey, September 11, 2013
SOURCE DH Corporation
Image with caption: "Today D+H released the second installment of the D+H Student Index: Outlook on Life After Post-Secondary Education. This report reveals Canadian students’ outlook and expectations for life after graduation from post-secondary school. (CNW Group/DH Corporation)". Image available at: http://photos.newswire.ca/images/download/20140813_C3133_PHOTO_EN_4812.jpg