More than half or 51 percent of millennials are discouraged from pursuing their chosen career path in full as this has proven inadequate to provide for their financial needs, a study financed by CIMB Bank Philippines show.
An acknowledged leader in the local digital banking space, the lender sought to find what more it can do to widen its digital banking footprint and sought the assistance of research firm Milieu Insight and the Ateneo Business Resource Center of the Ateneo de Manila University John Gokongwei School of Management.
The commissioned study found that only a third or 33 percent of millennials, or those born between 1981 to 1996, find their chosen career as fulfilling and that nearly half or 47.2 percent consider their career as somewhat fulfilling.
Only 25 percent of millennials find their careers fulfilling and that 12 percent clearly declared their career path somewhat unfulfilling.
Six percent of those surveyed, the CIMB Bank-financed study show, said their chosen career path were downright unfulfilling and contrasted against the eight percent who said theirs are very fulfilling.
One percent of millennials declared their career path as very unfulfilling, however.
According to the millennials survey, financial concerns are the biggest roadblocks in the pursuit of the model career consistent with their life purpose as only 1 in 4 declare themselves financially secure.
Only 1 in 3 millennials said their chosen career aligns fully with what they initially wanted to pursue and that more than half of their members, or 51 percent, are discouraged from persisting on their chosen career because these do not support them financially.
More than half or 52.6 percent of millennials surveyed think they have made progress in pursuing their life purpose and 49.5 percent do not actively pursue their life purpose at all.
CIMB Bank Philippines is a mobile-first digital commercial bank serving more than 6.5 million Filipinos at present that has extended loans to more than two million borrowers thus far.
