Youth Career Fair (Image courtesy of Yonhap)
SEJONG, Nov. 20 (Korea Bizwire) – More than one-third of South Korean teenagers say that income is their foremost consideration when selecting a career. Over the last decade, the significance of income as a decisive factor in job selection has consistently risen, surpassing both aptitudes and interests.
This shift has resulted in a pronounced inclination towards larger corporations offering comparatively higher salaries, as opposed to government positions, traditionally associated with job stability.
This trend signifies a growing prioritization of income over individual aptitudes and interests in the career decision-making process among young people. One possible explanation for this phenomenon is the increased financial need driven by the prevailing economic conditions.
As per the findings of Statistics Korea’s ’2023 Social Survey,’ released last Saturday, 35.7 percent of teenagers aged 13 to 19 identified ‘income’ as the most critical factor when choosing a job.
This was followed by considerations of aptitudes and interests (30.6 percent), stability (16 percent), advancement and prospects (4.9 percent), and honor and prestige (4.5 percent).
A decade ago, in 2013, aptitudes/interests led the list at 38.1 percent, while income and stability accounted for 25.5 percent and 18.6 percent, respectively. Aptitudes/interests remained at the top until 2019, when income took over.
In this year’s survey on teenagers’ (ages 13-18) preferred workplace types, large corporations claimed the top spot at 31.4 percent. State organizations followed at 19.2 percent, trailed by professional organizations (11.9 percent), public companies (11.3 percent), and self-employment (10.8 percent).
Comparatively, in 2013, state organizations held the lead with 29.7 percent, while large corporations were second at 24.2 percent, and state-owned enterprises comprised 12.7 percent. Over the past decade, the share of large companies has increased by 7.2 percentage points, while the share of state organizations has declined by 10.5 percentage points.
This trend signifies a growing prioritization of income over individual aptitudes and interests in the career decision-making process among young people. One possible explanation for this phenomenon is the increased financial need driven by the prevailing economic conditions. (Image credit: Kobiz Media/Korea bizwire)
Kim Ki-heon, director of the Youth Policy Research Center at the Korea Youth Policy Institute, attributed this trend to economic conditions, stating, “When the economic situation deteriorates, the emphasis on the need for financial stability increases.”
He also highlighted Korea’s dual labor market, characterized by a substantial wage gap between large and small companies, contributing to the preference for larger corporations.
Kim further noted, “It also depends on recruitment. In recent years, the government has been reducing the number of civil servants, making it more challenging to secure a position in the civil service.”
M. H. Lee (mhlee@koreabizwire.com)
