Why Young People Are Not Taking Advantage of IT Careers in the Industry of Financial Services

A recent article in Computer Weekly underlined how, according to a leading investment management Careers Company based in London, many young people are not landing any rewarding careers in IT, specifically in the financial services sector. This is simply because they are not aware of these career paths and opportunities.

Challenges that young people face when pursuing a career in the IT industry as well as in Financial Services were identified by Investment 2020 who work hand in hand with firms providing career and apprenticeship information to young people. Here are some of those main challenges:

The Misconception That Men are Better Suited for a Career in IT

For example,a recent study in O2 demonstrated that forty seven percent of eleven to eighteen year olds believe that the sector of technology, such as business server hosting, is made to suit men. The misconception that they do not have the skills necessary to acquire these job positions, for example:

  • The belief that technical skills as well as formal qualifications alone are the most important aspects to employers as opposed to being capable of creatively solving problems.
  • The belief that there is not a real comparison between an apprenticeship and a university degree and that apprenticeships do not have the value a university degree does.
  • The misconception that this industry is flooded, therefore, there aren’t many opportunities, the rewards are underrated and the competition is way too strong.
  • A negative outlook on the financial industry.
  • The misconception that you must come from a “rich, white” heritage in order to obtain a good job in the technology industry.
  • Not being aware of the opportunities available in the financial and IT industry.

An Outstanding Person With a Top Notch Attitude

That being said, an employer is more likely to place emphasis and priority on young people who are enthusiastic, have a winning attitude, possess excellent communication skills as well as many other softer skills. This is basically the exact opposite of the antiquated desire for an introverted ‘techie’ stereotype who only possess technical skills.

Fast Paced

Commentators such as Henderson Global Investors CTO of IT, Andrew Rydon express the truth behind that fact that a role in technology does not require technical skills, on top of that, the fast pace in which technology is constantly bringing about change in the industry of finance indicates that it is the perfect time for young people to take on IT roles in this industry.

A Great Alternative Choice Would Be an Apprenticeship

Many commentators and leaders in the industry are in agreement that apprenticeships are in fact a great alternative to university for young people in search of work opportunities, this is due to the fact that they can assist young people in preparing for the work world, it also helps them to build networks which will support their work, it also helps young people to develop a variety of important skill sets for work at a young age.

How Does This Affect Your Business?

Although technical skills are valuable and important, when it comes to recruiting young people for technology and IT roles, it is equally important to take the values of the other skills they may have into consideration when deciding the value they may have for your organisation in the long run, this includes their enthusiasm and attitude.

A great way in which Financial Services as well as your industry can guarantee that the best value and talent are being attracted, taught and provided with opportunities of growth is by having an open mentality towards diversity and providing environments and programs for learning and nurturing which are structured, for example, an apprenticeship.