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More youths opting to work than pursue tertiary qualifications: Survey
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PETALING JAYA: Statistics show that an increasing number of youths are choosing to pursue business and entrepreneurship instead of continuing their studies at institutions of higher learning.
Marketing research firm Edge Research found that of 1,675 youths aged between 18 and 30 who were surveyed, 686 (41%) felt unsure of enrolling in tertiary institutions while 217 (13%) decided not to do so.
Memento Maxima Digital MarketingThe 903 youths who were unsure or decided not to enrol for higher education said they were faced with financial constraints and believe it was more important to work and earn money.
A study by the Malaysian Institute of Economic Research in 2021 found annual student intakes in tertiary education institutions decreased from 1,346,858 in 2016 to 1,207,131 in 2021.
However, while earning a university degree is always preferable, those who decide to pursue careers as entrepreneurs could also make it in life, said a company founder.
Taylor’s University Assoc Prof Dr Lydia Y.Y. Foong said students who wish to join the workforce at an early age may enjoy earning money and having flexible working hours.
“Students can make a living being online sellers or social media influencers. But in the long term, their potential earnings on average may not be on par with employees with tertiary qualifications.
“According to the Employment and Labour statistics released in June by the Human Resources Ministry, employees with tertiary qualifications earn an average of RM4,239 monthly while those with secondary qualifications only earn RM2,169.
“The business environment post-Covid is very volatile and requires one to consider upskilling and reskilling to sustain earnings and business. It depends on the mindset and skills of the individual whether they would become successful,” she said.
Foong, who is also Centre for Future Learning Curriculum Innovation and Development director, said a tertiary education would help graduates gear themselves towards professional interests and assist them in pursuing significant career options.
“Our students get to learn and practise within supportive ecosystems that consist of facilitators, peers and industry mentors. This also provides graduates with networking and contacts for easier access to their dream jobs.
“Students with tertiary education also learn generic skills that harmonise the world of education, work and responsible global citizenship to address issues being faced.”
Foong said she believes in providing all learners with an education that empowers them to succeed in an increasingly complex and dynamic environment.
“Students will have the opportunity to engage in meaningful and realistic challenges through immersive and problem-centred learning.
“There is also an emphasis among higher learning institutions in developing real-life skills by including internship and entrepreneurial opportunities for students to attain a successful life and career transition.”
Wordlabs Media founder Sritharan Vellasamy said tertiary education is not the most important aspect of being a successful entrepreneur.
“Tertiary education can be important in some career paths like engineering or medicine, but in business, what matters more is a person’s ability to communicate.
“Skills, adaptability and innovation are the three key foundations that make a successful entrepreneur.
“When one does not have the skills, there will be no business. There will be many changes, especially in the fast-paced and volatile business environment, which is why adaptability plays such an important role in staying afloat.”
He said the integration of technology is also an important part of adapting to the current trends in the marketplace.
Sritharan said being open and eager to learn is an essential mindset to have as an aspiring entrepreneur.
“It is all about reading and learning. Even for people who do not have tertiary education, the thirst for knowledge will help in establishing an understanding of what consumers want and need.
“If someone does not have a tertiary education, it does not mean he is incapable of doing the job. What matters is whether he can adapt and learn new things. Communication is also very important because most industries are people-centric.”
Sritharan stressed that anyone can be an entrepreneur if they can sacrifice their time and clearly define why they want to enter
the business.
“A person must set their goals before setting out on this journey because it is not an easy one to take. It is a baptism of fire to pursue this path.”
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