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Next generation still optimistic

New research from Alliance & Leicester Bank reveals that the recession has not affected the financial ambitions of young people today compared to two years ago, when the economy was in better shape.

13 July, 2009

The research findings reveal:

  • The average earning expecations of 16-21 year old men is £44,600 in 10 years time, with the average earning expecations of young women being £34,800 (the current average national wage is £25,123)
  • Seven in ten (71%) 16 to 21 year olds still expect to get on the property ladder by the time they reach 30, compared to 72% two years ago
  • 30% expect to be debt free before they are 34 years old compared to 32% two years ago
  • One in four (27%) believe employers are more interested in experience than qualifications, with 15% believing employers prefer qualifications
Andy Bayes, head of Abbey and Alliance & Leicester Current Accounts commented: "With so many young people looking to maintain their financial and lifestyle aspirations during these tough economic conditions, it is essential that those looking to start their career have access to good sources of advice, information and inspiration.”


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