Do you need a degree to succeed?
GEN Z: For years, going to college straight out of high school was the only pathway to a successful career. But the younger generation is continuing to find a new way to do things — and they're asking employers to get on board.
According to a new survey commissioned by American Student Assistance and Jobs for the Future (JFF) , not only are 50% of high school graduates actively pursuing non-degree opportunities instead of going to college directly, but 70% have high confidence in their post-high school plans. Nearly all of them are satisfied with the pathway they chose.
"We are trying to move away from the idea of traditional versus non-traditional college alternatives," says Julie Lammers , senior vice president of advocacy and corporate social responsibility at American Student Assistance. "It makes these options seem like a lesser alternative to traditional college, when we really want to talk about them as adequate paths that don't necessarily need to end in a two-or four-year degree."
RECRUITING: The current recruitment landscape has slowed significantly as of late, with new hires making up less than 4% of all employees over the last three months, as opposed to 9% of all employees the previous quarter according to ADP. Yet there are smart interview strategies for those that still intend to job search in 2024, according to resume builder Resume Genius, including what questions to ask.
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"The interview, which was once a one-sided interrogation, has transformed into more of a balanced exchange," says Eva Chan, CPRW , a career expert at Resume Genius. "This shift owes much to the entry of younger generations like Gen Z into the workforce. They're a cohort that brings a new level of scrutiny to their potential employers by emphasizing a mutual fit."
RETIREMENT: The U.S. Census Bureau estimates that nearly half of all Americans have no retirement savings to speak of. Yet women are in a much more precarious financial state than their male counterparts when it comes to their retirement readiness. Women's median 401(k) account balances were 65% lower than for men in 2022, according to investment management firm T. Rowe Price. Women also contribute 43% less annually to their investment accounts, adding $5,421 per year, compared to $9,578 for men.
As such, 62% of women expect to retire later than planned or not at all, according to research from Nationwide Insurance. Of those who plan to retire, 30% say they only have enough to last one to three years, according to separate research from Iralogix, a retirement industry fintech provider.
Realtor Associate @ Next Trend Realty LLC | HAR REALTOR, IRS Tax Preparer
1yThanks for the updates on, The EBN.