13% of youngsters plan to have jobs before continuing their studies, saying that it will help them choose their future career. 17% of youngsters, including 11% of middle school graduates, have no plans for the future after graduating from school.
When asked about whether or not their children work in the profession that is suitable to their education, 35% of parents said yes. This most often applies to young professionals aged 25 to 35 (45%) that have graduated recently. 19% of them work in professions they had to study for separately. 39% admitted the profession they have now is not related to their acquired education, according to results of Swedbank’s survey.
56% of Latvian middle school students aged 17 to 19 plan to begin studies in one of Latvia’s universities after graduating from middle school. 7% plan to study in a foreign university. 8% noted not having any plans to continue studying and 6% plan to first learn a language, work and travel before choosing their future profession.
Girls more often wish to study and boys prefer work
Girls more often than boys consider studying in Latvia’s higher education institutions (65% of girls and 45% of boys). In comparison, boys more often plan to work before commencing studies (14% of boys and 4% of girls).
What is interesting is the fact that desire to work and then choose the future profession mostly applies to 10-11 graders (18%). Only 4% of 12th graders have such plans for the future. Older graduates are more focused when it comes to choosing to study in one of Latvia’s universities – this was mentioned by 69% of 12 graders in Latvia.
«Education nowadays takes place over the course of a person’s entire life. This is done to enhance one’s skills and enrich experience to adapt to the changing work environment and just as a hobby. There are many opportunities that require motivation and dedication. Education also means considerable expenses,» – admits Renars Rusis, member of the board of Swedbank Private Finances Institute.
Swedbank’s data on residents’ behaviour when it comes to creating savings to ensure the future for their children shows that women are more active when it comes to making savings (62%). Parents most often start making savings early on in their child’s life. Most often savings are made to ensure financial support once their child reaches maturity (82%). Parents usually divert EUR 30 to EUR 50 every month. By diverting this amount every month, parents can save an average of EUR 4,500 to EUR 9,200 to pay for the needs of their children.
Any parent is worried about the future of their children. It is important to provide assistance to children once they become financially independent. Considering that the average cost of education in Latvia’s universities is EUR 7,300, it is enough to divert EUR 26 every month.