Youth in Focus: Which are the Most Desirable Careers of the Modern Era?
High remuneration has always been a deciding factor when it comes to making a career choice, but young people today are also seeking careers that align with their passions, offer growth opportunities, and make a positive impact on society. Our Blackbox-ADNA careers study across ASEAN in June 2023 gleaned many fascinating insights, including the most desirable careers for today's youth, where we discovered that careers in Law, Computer Science, Data Analytics, and UX/UI Design are regarded as equally or more attractive compared to a decade ago among over 90% of Southeast Asians aged 15-24 and 25-34. On the other hand, fields such as Accounting, Education, and Public Service are significantly diminishing in attractiveness across age groups.
This article takes a closer look at the top choices and factors that make some careers so appealing for young people in Southeast Asia, zoning in on the responses to our question of what the hottest two career options are for young people today.
Hottest Choices by Age Group: Data Science and AI/Machine Learning
Among 15-24 year olds, Data Science emerged as one of the top two hottest career choices, with 49% of respondents selecting it. For the 25-34 age group, AI/Machine Learning took this spot, chosen by 43% of respondents.
The rising interest in Data Science and AI/Machine Learning reflects the growing importance of data-driven decision-making and the advancements in artificial intelligence technologies. These fields offer exciting opportunities for individuals to contribute to cutting-edge research, develop innovative solutions, and be at the forefront of technological advancements. The potential for career growth, competitive salaries, and the chance to make a meaningful impact on society through data-driven insights and AI-driven solutions are factors that perhaps make these career paths highly desirable among young people.
Additional Top Choices: Digital Marketing, Fintech, and Space and Satellite Technology
For 15-24 year olds, Digital Marketing ranked as among the most desirable career choices, selected by 40% of respondents. In contrast, Fintech and Space and Satellite Technology tied as desirable choices for 25-34 year olds, with both options receiving a 23% selection rate. Notably, Digital Marketing also appeared an attractive career choice for 25-34 year olds, but comparatively lesser than the preceding age group, chosen by 21% of respondents.
Exploring Attractiveness Factors: Why Are These Career Paths Appealing?
Our survey also delved into the reasons behind the attractiveness of these career paths. The data revealed three key insights:
Data Science: For nearly half of both 15-24 year olds (48%) and 25-34 year olds (47%) who chose Data Science, better pay was a significant factor. Additionally, an even higher proportion of respondents emphasized the relevance of Data Science to today's society, with 52% of 15-24 year olds and 53% of 25-34 year olds selecting this reason.
Influencing Factors: Across various career choices, better pay, relevance to today's society, and better long-term job security were consistently identified as the top three factors. Notably, those who selected 'environment and climate change solutions' considered its contribution to the planet's future as the primary reason, with 49% of 15-24 year olds and 46% of 25-34 year olds emphasizing this aspect. It is worth noting, however, that only a small percentage of respondents (10% of 15-24 year olds and 18% of 25-34 year olds) chose this option as one of the top two most desirable careers.
Diverse Motivations for Career Choice: Our survey reveals that while certain factors like better pay and relevance to society hold general importance across career choices, there are specific motivations for selecting certain paths. The emphasis on environmental concerns was relatively low, with barely a few respondents choosing 'environment and climate change solutions' as among their desirable careers. This possibly indicates that while societal issues are valued, they may not be the primary drivers of career choices for the majority of young individuals surveyed.
Youth Perspectives on Building Financial Wealth
Our survey further explored young people's perspectives on building financial wealth. Respondents were asked to select the two best ways to build long-term financial wealth from a list of options.
The following findings emerged:
Diversifying Investments and Growing Bank Savings: Half of the 15-24 age group (50%) identified spreading investments to minimize risk and growing bank savings (44%) as their top two strategies for building financial wealth. Similarly, 49% and 41% of the 25-34 age group selected these options, respectively. Investing in property/housing ranked next, chosen by 26% of 15-24 year olds and 29% of 25-34 year olds.
Contrasting Attitudes: Interestingly, 23% of 15-24 year olds and 15% of 25-34 year olds saw "Regular job hopping to climb the career ladder quicker" as a way to build long-term wealth. This perspective sharply contrasted with respondents aged 35 and above, none of whom selected this option. In a role reversal, 47% of 35-49 year olds and 59% of those aged 50 and above viewed "Climbing the career ladder within the same company" as an effective strategy for long-term wealth building, while none of the respondents below the age of 35 selected this option.
It is natural to prioritise stability and familiarity as one gets older, and our findings are reflective of these generational differences in the attitudes of respondents. But the time-tested strategy of saving and investing money is clearly never going out of fashion!
Empowering the Youth for the Future
Tech-based choices such as Data Science, AI/Machine Learning, Fintech, and Space and Satellite Technology being ranked among the most coveted careers reflect the growing influence of technology and its potential for innovation. Moreover, the desire for better pay, relevance to today's society, and long-term job security emerged as common themes across all career choices, highlighting the priorities of young professionals today. While wealth creation indicates a difference in attitudes compared to older generations, similarities exist too.
As the job market continues to evolve, it is essential to nurture and support the aspirations of young professionals. By providing opportunities for growth, encouraging innovation, and fostering a sense of purpose, we can empower the youth to pursue their dream careers and shape a world that reflects their values and ambitions.
This is the latest in a continuing series of articles Blackbox will be publishing in the coming months on the evolving perceptions of careers, finances, and related issues in Asia. For assistance in devising a strategic vision that aligns with your company’s workforce goals, reach out to us at connect@blackbox.com.sg