The Department for Education has finally confirmed that financial education would be part of the English national curriculum comprising lessons on public finances. For the very first time, students would be taught how to manage their finances so that they do not fall prey to any sort of monetary complications later in their lives.
Financial Mathematics – a new chapter
According to members of the department, financial education would also be given in subjects like Citizenship and Mathematics for students in secondary schools. However, ‘Financial Mathematics’ would be the area which would be emphasised for the first time. Students would be asked to solve problems related to Percentage Change and Simple Interest. With this, students would learn how to make plans for financial decisions while attending citizenship classes.
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“It is especially welcome to see the link between personal finance and public finances restored to the final programmes of study for Citizenship education,” said PFEG chief executive, Tracey Bleakley. Young students will learn about public expenditures, taxations and everything about personal finances apart from money management.
Financial education aims at a wider audience
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MyBnk charity founder, Lily Lapenna said, “All of us who have fought for financial education to be accessible to all young people can celebrate today. The priority is now to support teachers in providing quality and focus on reaching all young people including those not in formal education and post 16.” Well, this was a strong indication towards promoting financial education.
As per the researchers from IPSOS organisation, it was found that:
88% of the adults agree that financial education should be an integral part of the schools
Although France was recorded to have the lowest percentage in the demand of pursuing financial education in schools, the percentage was 63
Finance degree holders can expect bright career prospects
As far as the importance of a finance degree in the job market goes, it has been ranked among the top 30 undergraduate degrees in terms of potential pay package. Reports from an online salary database, PayScale, say:
Starting median salary of professionals revolves around $48,000
Median salary of professionals in midcareer is over $85,000
Thriving career routes for new graduates had been pointed towards financial analysts, financial advisers, securities sales agents and real estate brokers
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With such a heavy demand of pursuing financial careers all over the globe, working professionals now seem to be more inclined towards seeking online education. Even accredited universities are now coming up with online master’s and bachelor’s degree in finance along with affordable payment modes and easy learning strategies for both students and working adults.
In fact, online finance courses are now preparing individuals to get into the nitty-gritty of their field with knowledge in portfolio management, international finance and even risk management. So, even if one who is working and hence planning to go for higher studies in finance can always join an accredited business school online. Accept it or not, your career prospects would reach heights in almost no time.
In the pursuit of getting their dream job, many people even oblige to work for nothing. It’s the time that they should voluntarily say no to unpaid internships, in order to completely stamp it out.
Today, it does not seem to baffle us any more when we are asked of unpaid internships. The insensitive debate over whether the interns deserve to be paid does not make any sense.
You may feel disheartened but not surprised, as many young people are oblivious to the fact that most unpaid internships are illegal and not acknowledged by many businesses. Many interns are unaware that they officially obliged to national minimum wage.
Most people readily take on wearying unpaid work because they think it as an essential step towards career building. In the present days, young people willingly submit themselves to unpaid work solely to achieve their goals.
A number of job boards have joined the ranks and made outstanding progresses by banning the unpaid positions. Graduate Fog and Intern Aware, among others are some of the burning examples.
Unpaid internships must be considered as illegal, rather than highlighted as a moral grey area for the ignorant young people, or to remind an inexperienced start-up unintentionally overlooking the law. Moreover, there is need for the government to engage with unpaid internships.
Employers are not allowed to choose which parts of the law they have to abide by and which they can casually take no notice of. The employment legislation clearly states that anyone needed to work for a set number of hours, who is given tasks and who contributes to the growth of a business, is classified as a worker and therefore is liable for the national minimum wage. This rule is meant to be followed by all businesses, irrespective of size or profits, other than charities.
Though one may say that every graduate is not considered as deserving job candidate just upon leaving university, it is very shaky, unpleasant ground to deprive a young person of their legal rights.
The employment legal set-up is simple, elegant, though it appears that it is a stretch for those who believe considering a worker as an intern is awfully clever and who cunningly sidestep the law.
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Such insensitive ploys only disregards the functioning of the law, and a simple modification to define intern would probably do little to improve the prevailing scenarios, as companies would just devise alternate name.
In spite of HMRC’s efforts, the right to minimum wage is not being strictly enforced by the government. Unpaid internships have not been made a part of party policy. Our government is not willing to openly discuss the crucial matter. However, there are some political figures lending every possible help to condemn unpaid internships.
Moreover, there is a need to spread awareness among young people. They do not need to put up with this system and must have enough guts to defend their fundamental rights.
If you undertake an unpaid role, you are blatantly ignoring the illegal practices being run in the job sector and facilitating a company to use you as economically insignificant labour.
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