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· Six out of ten young people think that their generation is better prepared than that of their parents, although in recent years this generation gap is becoming smaller, according to the IX Young Business Talents Report, on the attitudes and trends of young people Spanish pre-university students
· “Although young people now generally have greater training opportunities, that does not mean that they are better prepared. The loss of the culture of effort, cell phones or little interest in studies means that generation Z does not give as much importance to their preparation, compared to how their parents did,” analyzes Nuño Nogués, director of Young Business. Talents
· Spanish students are optimistic regarding youth employment, since 65% believe that they will find a job in less than a year after completing their studies and the percentage of those who think that the employment situation will be better or much better in the future increases. next five years
· Generation Z pre-university students are clear that they want to study a university degree, as stated by 65.8% of those surveyed; and the studies that arouse the greatest interest are: Business and Economics, Marketing and Advertising, Law, and Teaching
· 34.5% of young people want to be an entrepreneur, but despite this trend, they are pessimistic (89%) considering that it is difficult or very difficult for a newly created company to achieve success
Madrid, February 28, 2024.- Generation Z is optimistic about their academic preparation and their work future. 65% of Spanish pre-university students believe that they will get a job in less than a year after completing their studies and six out of ten young people think that their generation is better prepared than that of their parents, according to the IX Young Business Talents Report, on the attitudes and trends of young Spanish pre-university students, carried out by ABANCA, ESIC, Herbalife and Praxis MMT.
But, although they think that their education is superior to that of their parents, in recent years the generation gap is becoming smaller, experiencing a drop of more than 20 points, compared to previous reports (in 2018, 83, 3% of young people considered that they were better prepared than their parents). Regarding this continued decline over recent years, Nuño Nogués, director of Young Business Talents, points out that: “There is a generalized opinion that the quality of education is falling in Spain. Young people can observe it in their parents’ level of knowledge on a daily basis: their parents can answer questions that they cannot.”
Furthermore, 79.6% of young people also believe that they will get a better job than their parents. “Although young people now generally have greater training opportunities, that does not mean that they are better prepared. The loss of the culture of effort, cell phones or little interest in studies means that generation Z does not give as much importance to their preparation, compared to how their parents did. But the lesser preparation is not in all areas: while, in basic knowledge such as reading comprehension, mathematics or culture, they are possibly less qualified, there are a series of competencies in which, due to the development of teaching methodologies and society, are better prepared (digital, audiovisual or communication skills). Even so, without this basic knowledge, they will not be able to take advantage of the skills they possess,” analyzes the director of Young Business Talents.
Optimistic with youth employment
According to the results of this report, carried out on pre-university students who are in the 4th year of ESO, 1st and 2nd year of Baccalaureate and the basic, middle and higher cycles of Vocational Training, young Spaniards are optimistic about youth employment. In addition to thinking that they will get a job in less than a year after finishing their studies, the percentage of pre-university students who believe that the youth employment situation will be better or much better in the next five years also increases (42.7%), compared to 39. % from the previous year.
“It is positive that young people have such an optimistic perception. Although we are not sure what the situation will be in five years, the reality at the moment according to official figures is that employment is being created, to which I would introduce two qualifications. The first is that Spain is at the bottom of Europe in terms of youth employment, something that negatively affects young people’s chances of finding employment. And the second is whether the employment is of quality. If young people are not sufficiently prepared, the employment they will be able to get will be worse, and even more so with the important changes that are taking place due to technological evolution and digitalization,” adds Nuño Nogués, director of Young Business Talents.
For generation Z, the factors they consider most important when it comes to finding a job are: interest and desire to work (57.7%), having a good level of languages (50.3%), having experience ( 47%), and knowledge (45.4%).
Although they are optimistic about the future of employment in Spain, the results of the report show that almost three out of every four young people (74.5%) would change countries to work. But this trend has been decreasing over the years and the number of young people who would emigrate for work is decreasing. In the 2022 report it was 76.7% and in 2021 it reached the highest percentage with 82.6%.
Entrepreneurial vocation
Generation Z pre-university students are clear that they want to study a university degree, as stated by 65.8% of those surveyed; and the careers that arouse the greatest interest are: Business and Economics (32.8%), Marketing and Advertising (24.1%), Law (18.1%), and Teaching (17.1%). Furthermore, 72.8% of young people of the ages analyzed believe that what they are currently studying will be useful for their professional career, an upward trend that began last year (70.8%).
Regarding the professional activity they would like to carry out in the future, 34.5% of young people want to be an entrepreneur, creating their own company or being self-employed professionals, a figure slightly higher than last year (33.9%). 19.8% of pre-university students want to be civil servants, the same figure as the previous year; 11.9% want to be employed in a company and work as an employee, a figure that decreases compared to last year (14%); and 33.8% are undecided and still do not know.
Despite this entrepreneurial trend, young people are pessimistic and 89.4% consider that it is difficult or very difficult for a newly created company to achieve success. “The obstacles that an entrepreneur faces in Spain are innumerable and in different areas. They must overcome barriers such as bureaucracy, changing and increasingly demanding regulations, fiscal and labor aspects, political instability, financing problems and increasing competition. In other countries, these difficulties are minor or do not exist. Furthermore, in our country there is a lack of business culture. It is not a problem of young people, it is a problem of what they see and what society teaches them. “Young Spaniards are less interested in creating their own company, possibly because they see fewer opportunities, since in Spain the entrepreneur is less valued than in other countries, and we do not see as many cases of business success as outside our borders,” analyzes the director of Young Business Talents.
Likewise, when asked about the sources they use to be informed, 63.6% lean towards social networks, compared to 33.4% who choose traditional media such as newspapers, digital media, radio or television; and 3% declare that they are not interested in current events. Even though Generation Z is continually connected, “they are possibly more uninformed. The Internet and social networks offer much more information than traditional media and that is positive. However, this information is sometimes less relevant and more biased, which makes it less useful and can cause misinformation,” concludes Nuño Nogués.
Finally, for 94.9% of young people it is important to be informed about current events for their training, and when it comes to obtaining documentation to do a job, almost all pre-university students (87.7%) search on the Internet and compare different sources; 3.4% search in sources outside the Internet; and 2.9% copy the first thing they find without comparing the information.
For more information: www.youngbusinesstalents.com
About ABANCA (www.abanca.com)
ABANCA is the leading financial institution in the northwest of Spain. It has 730 offices in 11 countries in Europe and America, 6,808 employees and a business volume of more than 113,018 million euros. Its differential proposal combines personal attention with operations through digital and remote channels. ABANCA bases its activity on knowledge of customer needs and on a catalog of simple, innovative and transparent products and services. Specialization, internationalization and sustainability are other hallmarks of a financial institution located among the most solvent in the sector in Spain. Since 2015, it has been developing an extensive financial education program that includes activities aimed at improving people’s financial knowledge, regardless of their age or stage of life. These initiatives reached more than 200,000 people last year and their collaboration with the Young Business Talents project falls within this framework.
About ESIC (www.esic.edu)
ESIC is a Higher Education institution founded in 1965, an expert in training in Marketing, Management and Technology, promoting the capacity for innovation and entrepreneurship. Through its areas of activity – Undergraduate, Postgraduate, Corporate Education, Online Training, ESIC Professional Training Center, Publishing and Languages -, it contributes to the training of people in knowledge, training them with skills and raising awareness in values to respond to the current challenges of the business world at all levels. Its centers are located in Madrid, Barcelona, Valencia, Seville, Zaragoza, Málaga, Pamplona, Bilbao, Granada. In addition, it has strategic alliances on all continents.
About Herbalife (www.herbalife.es)
Herbalife is a global company dedicated to changing people’s lives with quality nutritional products and a business opportunity for its independent distributors since 1980. The company offers high-quality products, backed by science, that sell in more from 90 countries by independent distributors, who provide personalized training to inspire their customers to adopt a healthier and more active lifestyle. Through its global campaign to end hunger, Herbalife is also committed to bringing nutrition and education to communities around the world.
About Praxis MMT (www.praxismmt.com)
Praxis MMT is one of the world’s leading companies in the development of simulators and advanced training methodologies. Praxis MMT develops third-generation simulators that accurately emulate markets.
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