UK schools fail to understand finance careers

Kasmira Jefford
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A GENERATION of teachers and parents with poor understanding of financial services is deterring young people from pursuing a career in the sector, according to a survey released today.

The YouGov poll, which was conducted on behalf of the Chartered Institute for Securities & Investment (CISI), found that over 60 per cent of teachers have little or no understanding of the financial services profession.

The CISI believes that this gap in understanding is causing a prejudice against the profession as a career choice, with less than one in 10 young people surveyed saying they would be interested in working in the financial services.

Secondary school teachers had a better knowledge of the sector than their primary colleagues, with 45 per cent saying their comprehension was “strong” or “fair”. But less than half said they discuss financial services as a career option for their pupils.

The poll found that most parents lack an understanding of financial services, with only 23 per cent ranking their knowledge as “strong” or “fair”.

CISI chief executive Simon Cuhane said poor numeracy skills among adults and young people was creating “a vicious circle”.

“With some of the highest UK graduate salaries being available in the investment banking sector, we should not undersell to our young people the fact that financial services offers excellent opportunities for a good, exciting and rewarding career.”