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The Future of Education Study

Posted on June 11, 2013 by Dan Schawbel

Millennial Branding and Internships.com Release Study on The Future of Education 

50% of students don’t need a physical classroom, 53% believe that online colleges are reputable and
39% view the future of education as being more virtual

Boston, MA – June 11, 2013 – Millennial Branding, a Gen Y research and consulting firm and Internships.com, the world’s largest internship marketplace, today announced a new study called “The Future of Education.” The study shows how students view online learning, how they believe education is changing, how they study and interact in a classroom setting and how colleges can better help them prepare for the working world. This online survey of 1,345 students from colleges across America was conducted on May 16th.

The study found that students are more willing to learn online and view the future of education as more virtual and social media driven. Only half of students think they need to attend class in a physical setting to get an education. When asked  what they saw coming next in education, 39% of students said that it would be more virtual and 19% said that they’ll be using social media to engage in the classroom. More students believe that online colleges are reputable and the majority are willing to gain professional experience in an online environment.

Additional highlights from the report include:

1. Colleges are expected to prepare students for the workplace. 25% of students feel unprepared for the working world and 69% of students believe that it’s both their college’s and their own responsibility to be prepared for the working world.

2. Students are demanding internships, career advisor support and mentoring. When asked what they believe their college is lacking that would prepare them for the working world, 52% said access to internships, 43% said people to mentor them and 35% said career advisor support.

3. They turn to internships to develop real world skills. 57% of students believe internships are most important when developing their business skills, followed by college classes at 12% and family and friends at 12%. Only 2% valued textbooks as the most important way to develop their skills. 69% of students would participate in an online internship if they were able to. 40% believe that their reliance on technology has hindered the development of their interpersonal skills.

4. Students want to study alone instead of with others. When studying for exams, 75% of students want to study by themselves and only 20% want to study with friends and classmates in person. In a classroom setting, 84% use a computer and 19% use an iPhone and tablet device to study.

5. There’s room for growth in the online education marketplace. 78% of students still believe that it’s easier to learn in a traditional classroom than online. They do value the benefits of online learning including balancing work and class, flexibility in assignments and lower costs. 43% say that online education will provide them with courses of the same or higher quality than traditional colleges.

6. Students are very interested in pursuing advanced degrees. 81% said they are interested in advanced degrees. When asked why, 55% said it would make them more employable and 38% said they would gain professional connections.

Quotes:

“Millennials understand that the future of education is online and since they were brought up with the internet, they are prepared for that change. Education should not be a one size fits all model because everyone learns differently, regardless of age, occupation and location. More online courses should be offered to cater to those who learn better in a virtual classroom.”

- Dan Schawbel, founder of Millennial Branding & author of Promote Yourself: The New Rules For Career Success

“As new modes of online higher education develop and students use technology in greater and greater numbers within and for their academic curriculum, it’s clear that the desire for relevant 21st century jobs and career experiences go hand-in-hand. To ensure the ROI of college long term – whether learning in offline or online settings, experiential education – specifically through internships and mentoring, is a must for the next generation student.”

- Robin D. Richards, CEO, Internships.com

Contacts:

Millennial Branding: Dan Schawbel, dan@millennialbranding.com
Internships.com: Yair Riemer, yriemer@careerarcgroup.com

About Millennial Branding:

Millennial Branding is a Gen Y research and management consulting firm based in Boston, Mass. Millennial Branding helps companies understand the emerging Gen Y employee by providing research, training, and advisory services. As representatives of Gen Y and advisers to management, our goal is to provide research and insights that will make you more profitable, grow your market share, help you understand your Gen Y employees, and turn you into an industry leader. As ambassadors to Gen Y, we want to give our generation a voice, support their careers, and connect them with brands that understand their needs.

About Internships.com:

Internships.com — a CareerArc Group company — is the world’s largest internship marketplace bringing students, employers and higher education together in one centralized location. The innovative, Los Angeles based company, develops a wide variety of interactive, world-class tools and services to enable every student, employer and educator to better understand and optimize internship opportunities. For additional information, please visit www.internships.com. For tips on finding internships, hot internship listings and internship advice, follow Internships.com on Twitter (www.twitter.com/internships) or Facebook (www.facebook.com/internships.com).

 

Millennials and the Future of Work Study

Posted on May 22, 2013 by Dan Schawbel

Groundbreaking Survey Reveals The Rise of Freedom-Seeking Freelancers and Redefinition of Entrepreneurship

72% of freelancers still at “regular” jobs want to quit soon to work for themselves — New study from Millennial Branding and oDesk finds freedom is the top reason for quitting

Being an entrepreneur today is defined as having a certain opportunity-seeking mindset, not a role as a “business owner,” say 9 out of 10 professionals surveyed

REDWOOD CITY, Calif. – May 14, 2013 – oDesk®, the world’s largest online workplace, and Millennial Branding, a Gen Y consulting firm, today announced results of a new study, “Millennials and the Future of Work.” The survey, conducted by independent research firm Genesis Research Associates, examines perspectives on the future of work from 3,193 freelancers worldwide, including 1,958 Millennials (19 – 30 years old). Findings reveal a desire to follow independent career paths due to the freedom and flexibility professionals say these paths provide, as well as a groundbreaking redefinition of what it means to be “an entrepreneur.” For full survey results, please visit https://www.odesk.com/info/spring2013onlineworksurvey/ or see our infographic.

Key results include:

  • 72% of those still at “regular” jobs want to quit to be entirely independent; 61% say they likely will within two years
  • Freedom is the top reason those at “regular” jobs would like to quit; and 89% say they prefer to work when and where they choose (versus in a corporate, 9 – 5 job)
  • 90% of independent workers indicated that being an entrepreneur reflects having a certain mindset (rather than being strictly defined as having started a company)
  • Of the freelancing Millennials surveyed, 58% of those familiar with the term “entrepreneur” classify themselves as one

Professionals are crafting entrepreneurial, independent paths to freedom

Of the freelancing Millennials surveyed, 58% of those familiar with the term “entrepreneur” classified themselves as one. Among all generations, freedom to work how they want is critical — 89% said they’d prefer to work when and where they choose (versus in a corporate, 9 – 5 job). In fact, among those surveyed who were still at “regular” jobs, freedom was the top reason they wanted to quit. When comparing freelance work to “regular” jobs, freelancing was seen as providing more freedom to:

  • Work wherever they like (92% agreed)
  • Work whenever they like (87% agreed)
  • Work on more interesting projects (69% agreed)
  • Travel while working (half said they’d prefer this to having to take vacation time)

Karen Queller, a 24-year-old Millennial who is working online while traveling the world, is quick to urge others to follow a similar path: “I want my life to inspire other people to live how they want. People have a lot of fears that hold them back from doing what they really want and I think many people would love to travel and work at the same time.”

Take note, companies, it’s time to embrace independent pros — 72% of freelancers who are still at “regular” jobs want to quit soon

Among the freelancers who were still at “regular” jobs, 72% indicated that they would like to quit their job “and work only for myself at some point in the future.”

“We believe that the barriers of Industrial Age work simply don’t make sense for businesses that want to get more work done, or for workers who are demanding more freedom. No one today wants to be confined to a cubicle,” said Gary Swart, CEO of oDesk. “As independent professionals embrace this freedom, hours worked on oDesk have increased eightfold since 2009.”

Freelancers’ intent to follow through on the desire to quit and work only for themselves is high; 61% say they are likely to quit their “regular” job within two years (44% “probably will” and 17% “definitely will”).

Being “an entrepreneur” has become a mindset that’s critical to career success

Today many of these independent professionals classify themselves as entrepreneurs (almost 60%). The survey found that being “an entrepreneur” is defined today as someone who has a certain mindset, according to 90% of the professionals surveyed (versus only 10% who chose “someone who starts a company”). When asked to define an entrepreneur, aspects of this mindset mentioned included being a “self-starter,” “risk-taker,” “visionary,” and someone who “spots opportunity.”

“This signals a major shift in our economy and how we manage our careers,” said Dan Schawbel, founder of Millennial Branding and author of Promote Yourself. “Entrepreneurship is now accessible to everyone regardless of age or occupation. You don’t need to own a business to be an entrepreneur, but you do need the entrepreneurial mindset to be successful in business.”

Entrepreneurship is something to aspire to, especially for Millennials

While entrepreneurship can be challenging (47% of those familiar with the term “entrepreneur” felt “there are downsides” while 53% indicated it is “an entirely good thing”), Millennials are more likely to see it as “entirely good” (57%, compared to 47% of those from older generations). However, the benefits of being an entrepreneur outweigh the downsides (75% of all surveyed agreed). In fact, 38% would even recommend pursuing a “promising start-up opportunity” versus completing a “traditional college degree.”

Gen X is seen as leading the future, but 2/3rds of Millennials already think their generation is ready to take the driver’s seat

Respondents of all generations surveyed said Generation X (31 – 48 year olds) is most likely to be best-suited to run today’s businesses, and therefore to lead the future of work. However, two thirds of Millennials already say that their own generation is best-suited (versus only 31% of those from other generations who say that Millennials are best-suited). This more grandiose view of their own generation’s abilities is in keeping with well known studies on current Millennial attitudes by Dr. Jean Twenge, who found that “narcissism is markedly higher among college students in the 2000s compared to those in the 1980s.”

About oDesk

oDesk (www.oDesk.com) is the world’s largest online workplace, enabling businesses and freelancers to work together on demand via the Internet.

By using technology to remove the barriers of traditional hiring, oDesk’s platform aligns businesses’ talent needs with freelancers’ desire to work when and where they want, on projects of their choosing. More than 35M hours were worked on oDesk in 2012.

oDesk is a registered trademark of oDesk Corporation. Other trademarks are the property of their respective owners.

About Millennial Branding

Millennial Branding is a Gen Y research and management consulting firm based in Boston, Mass. Millennial Branding helps companies understand the emerging Gen Y employee by providing research, training, and advisory services. As representatives of Gen Y and advisers to management, our goal is to provide research and insights that will make you more profitable, grow your market share, help you understand your Gen Y employees, and turn you into an industry leader. As ambassadors to Gen Y, we want to give our generation a voice, support their careers, and connect them with brands that understand their needs.

About Genesis Research Associates

Genesis Research Associates is a full-service marketing research consultancy headquartered in San Diego, CA. The firm, founded in 1986, conducts robust qualitative and quantitative research, with the mission of providing accurate feedback from key audiences both for public announcements and internal insights (to inform business strategy). Clients of Genesis Research have included Intuit, Apple, IBM, Cisco, Xerox, Nissan, Allstate, Plantronics, and Wells Fargo, among many others.

Survey Methodology

The survey was conducted by Genesis Research Associates on behalf of oDesk in spring 2013, among 3,193 freelancers worldwide, including 1,958 Millennials (19 – 30 years old). All professionals surveyed had been active in oDesk’s online workplace within the past 180 days. The sample was pulled from oDesk’s global database of professionals. The estimated sampling errors is +/- 1.9. For more on the survey, a full results deck is at https://www.odesk.com/info/spring2013onlineworksurvey/, or feel free to contact press@odesk.com.

Contacts:

oDesk
Shoshana Deutschkron, Director of Communications
650-853-4152
press@odesk.com

Millennial Branding
Dan Schawbel
617-840-0073
dan@millennialbranding.com

The Student Employment Study

Posted on April 22, 2013 by Dan Schawbel

Millennial Branding and AfterCollege Release New Study on Student Employment

Their internships aren’t turning into jobs, they ignore LinkedIn
and want colleges to provide networking opportunities

Boston, MA – April 22, 2013 – Millennial Branding, a Gen Y research and consulting firm and AfterCollege, the largest online career network for college students and recent graduates, today announced a new report on how students are developing their careers while in college. The report, The Student Employment Study, shows that while 79% of students have had at least one internship in the past six months, 57% were unpaid and 76% didn’t result in a job offer. Although the majority of students believe that college prepares them for the working world, 44% of those surveyed only apply to between one and five jobs at a time. They aren’t using professional social networks, including LinkedIn, to brand and market themselves to employers either. As a result, 48% haven’t even had an interview in the past six months. In March, AfterCollege surveyed 600 of their registered college students covering a variety of U.S. colleges and universities.

Additional highlights from the report include:

1. They want colleges to offer networking opportunities. 57% of students wish their schools offered more networking opportunities to help them prepare for the working world. Students also wish their schools had more focus on learning how to get jobs over standard courses (46%) and more career fairs and alumni support (34%). Half of students either haven’t used their career services department, had a bad experience or feel it needs improvement. Overall, 73% of students feel that college has prepared them for the working world.

2. They spend their time on Facebook and YouTube, instead of LinkedIn. When asked about what social networking sites they use, 90% said they use Facebook either frequently or occasionally. 78% felt the same way about YouTube and 46% never use LinkedIn. The majority of students aren’t using FourSquare, StumbleUpon, reddit or Tumblr.

3. They don’t want to be entrepreneurs. When asked if they were interested in starting a company in the next few years, 62% weren’t interested and only 8% were very interested. Only 21% of students wish their school offered entrepreneurship courses.

4. They believe an employer’s website is most important when job searching. 70% turn to an employer’s website first and 65% speak to someone who already works at the company they are applying for. 61% attend a school career fair and 58% search an online job site. Only 26% turn to a social networking site like LinkedIn or Facebook when job searching.

5. When applying for jobs, their biggest turnoff is a lack of response from employers. 49% of students say that a company never gets back to them after they submit a resume. 26% say that the company makes it hard to apply for positions and 37% say that the most stressful part of the job application process is preparing for the interview.

Quotes:

“Students have to be accountable for their careers, prepare for the job market as early as freshman year and start building their networks because internships and resumes don’t turn into jobs anymore.”

- Dan Schawbel, founder of Millennial Branding and Author of Promote Yourself

“Finding the right job or internship is extremely important to college students. AfterCollege is committed to eliminating unemployment among college grads and we constantly look for ways to help students improve their prospects.”

- Roberto Angulo, CEO and Co-founder, AfterCollege

Contacts:

Millennial Branding (Spokesperson): Dan Schawbel dan@millennialbranding.com
AfterCollege (CEO): Roberto Angulo rangulo@aftercollege.com

About Millennial Branding:

Millennial Branding is a Gen Y research and management consulting firm based in Boston, Mass. Millennial Branding helps companies understand the emerging Gen Y employee by providing research, training, and advisory services. As representatives of Gen Y and advisers to management, our goal is to provide research and insights that will make you more profitable, grow your market share, help you understand your Gen Y employees, and turn you into an industry leader. As ambassadors to Gen Y, we want to give our generation a voice, support their careers, and connect them with brands that understand their needs.

About AfterCollege:

AfterCollege matches college students and recent graduates with jobs and internships based on their school and major, allowing them to explore future career paths based on their qualifications. Offering 300,000 job opportunities at 25,000 employers, AfterCollege reaches students in 19,000 departments at 2,300 colleges and universities. AfterCollege’s mission is to eliminate unemployment among recent college graduates. For more information, visit www.aftercollege.com.

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