Aspiring Gen Z entrepreneurs are finding unique, yet time-honored, paths to becoming business owners.
Specifically, Gen Zers are increasingly attending trade schools rather than four-year universities, as these programs are perceived to be practical, have higher returns, and offer a clearer path to entrepreneurship.
These programs offer a high-paying career path with an average base salary of $73,307.While it is certainly possible to obtain traditional employment with a background in a skilled trade, there is also high demand for independent plumbers, electricians, and similar professionals in communities across the country, providing a clear path for people with these skills to start their own businesses.
In fact, half of Gen Z are interested in starting their own business rather than pursuing a traditional career, according to a report by Samsung and Morning Consult. The “Rise of Gen Z and the Future of Work” study, which included responses from more than 1,000 Gen Zers between the ages of 16 and 25, revealed that many in this generation are disillusioned with the corporate world.
Additionally, 58 percent of respondents said they expect advances in AI technology to bring about major changes to the workforce. This is another attractive feature of the profession, as skilled jobs are seen as less susceptible to AI.
All of these changes are happening as the cost of college in the US has more than doubled since 2000, according to the Education Data Initiative. And 68% of Gen Zers surveyed by New America agreed that it’s possible to get a high-paying, stable job with some technical or college education, even if you don’t have a certificate or degree.
“How America Works” host Mike Rowe said during a recent appearance on the show: Brian Kilmeade and One Nation“They’re just saying, ‘Look, there are 10,000 jobs here that don’t require a four-year degree, so why should I start a career in a field I haven’t even decided on yet and take on a ton of debt for a job that probably doesn’t exist?'”
The benefits of this path are clear for both those just entering the workforce and those looking to start a business in the future. Whether you’re looking to attend trade school or pursue a different path, it’s always important to consider the long-term outlook for the industry and the associated costs of each potential path. Gen Z appears to be definitely doing this as they consider how to enter the workforce in the next few years.
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