Welcome Guest

Businessex.Com
Home News Indian Gen Y predict starting their own businesses at 33 years: Survey

Indian Gen Y predict starting their own businesses at 33 years: Survey

Tags: cima, gen y, india, business, Andrew Harding, finance, survey

October 18, 2013 | COMMENTS ( 0 )

Indian Gen Y predict starting their own businesses at 33 years: Survey

A recent survey put out by Chartered Institute of Management Accountants (CIMA), has showed an ambitious global generation aiming for professional success on their own terms. The global survey of more than 4,300 Gen Y finance professionals represents a selection of countries including India, the UK, China, and South Africa.

 

Some of the India findings stated in the survey are one; Indian Gen Ys predict starting their own businesses at 33 years, as compared to their global counterparts at the age of 36 years. Two, the Tata Group is the top conglomerate that Gen Y Indians would like to work for. Three, 45% of Gen Y respondents aspire to enter their professions as a manager, in comparison to their global peers -18%. Four, Over 85% of Indian Gen Ys said that they would seek a new job within the next two years, with over half citing international destinations for a better work/life balance.

 

Some of the additional results showed that young Indians are optimistic to reach senior managerial positions at the average age of 33, two years ahead of their international peers’ average of 35 years.

 

Also in India, there is more support (68%) for working for a large corporation or MNC and little faith (8.5%) in the career progression opportunities offered by SMEs. Working for a smaller employer is not the most ideal choice for young Indians and they would rather work for themselves (14%) than a non-global or non-corporate operator.

 

Further young Indians, like their global counterparts, believe that self-employment can bring about a level of income that cannot be matched by working in the corporate world.

 

Globally, graduate scheme opportunities are perceived to be much more prevalent (29%) to Gen Y worldwide whereas only 8% of young people in India feel this as a channel to start their careers in.

 

Also, taking a professional qualification is a primary consideration to help build technical skills but the same method is not an immediate choice for addressing a softer skills gap to the majority of Gen Ys in India.

 

Andrew Harding, FCMA, CGMA, Managing Director, Chartered Institute of Management Accountants (CIMA) said, “The CIMA survey shows an aspirational generation keen to climb the corporate ladder on their own terms. With the challenge of youth unemployment, it is encouraging to see tomorrow’s generation aiming high and open to new experiences while maintaining a healthy work/life balance.”

 

CIMA is qualifying the next generation of business and finance leaders.  The research looked into the aspirations of finance professionals in their 20s and 30s and how organisations can prepare for their employees of the future.

 

Please add your comment

Rating
Not readable? Change text.
Enter the characters as seen on the image (case insensitive)
  Notify me of followup comments via e-mail   Subscribe for daily newsletter

Other NEWS

Delhi based startup i2e1 raises $5,00,000

Delhi based startup i2e1 raises $5,...

December 10, 2015

Delhi-based i2e1, a smart network player platform which aims to provide low-cost and free internet to consumers and actionable ana....

Cab aggregators collaborate with state governments to boost entrepreneurship

Cab aggregators collaborate with st...

November 06, 2015

Ola and Uber, cab aggregators have signed agreements with Rajasthan government for skill development and creation of entrepreneuri....

Phase II of startup incubator T-Hub to be operational soon

Phase II of startup incubator T-Hub...

November 04, 2015

Telangana government is planning to expand T-Hub, its ambitious incubator programme, in its second phase with about Rs 150 crore i....

Sabse Technologies receives investment from Ratan Tata

Sabse Technologies receives investm...

November 04, 2015

Global telecom carrier, Sabse Technologies Inc, started by Hotmail Founder Sabeer Bhatia today announced that Tata Sons' Chairman ....

Mobile startup BlackNGreen seeks international expansion

Mobile startup BlackNGreen seeks in...

November 02, 2015

Buoyed by a strong demand for value added services, mobile startup BlackNGreen is eyeing revenue of Rs 350 crore in the next one y....

Startups seek better future under Hay Group's programme

Startups seek better future under H...

October 30, 2015

Global management consultancy, Hay Group will help 100 selected entrepreneurs transform their startups into successful companies o....

Quintype raises USD 3.25 million for product enhancement

Quintype raises USD 3.25 million fo...

October 27, 2015

Quintype, a data-driven publishing company raised USD 3.25 million to enhance product and business development. ....

Hospitality aggregator startup Qik Stay raises $250K

Hospitality aggregator startup Qik ...

October 27, 2015

Delhi-based Qik Stay, a hotel branding and aggregator startup, has raised $250K in seed round of funding from venture capital firm....

Milk Mantra targets a turnover of Rs 150 crore this fiscal

Milk Mantra targets a turnover of R...

October 26, 2015

Odisha-based startup dairy firm, Milk Mantra is targeting a turnover of Rs 150 crore this fiscal.....

Vista Rooms creates app on Instagram, targets tier II & III cities

Vista Rooms creates app on Instagra...

October 23, 2015

Mumbai-based online budget accommodation aggregator, Vista Rooms has created an app-like experience on Instagram where travellers ....

Jiyo Natural receives funding from Indian Angel Network

Jiyo Natural receives funding from ...

October 23, 2015

Indian Angel Network (IAN) has invested an undisclosed amount in Bengaluru-based consumer health food startup, Jiyo Natural.....

​​Vodoo raises USD 1 million from SAIF Partners

​​Vodoo raises USD 1 mi...

October 15, 2015

Deals and price comparison application, Vodoo has raised USD 1 million (around Rs 65 lakh) from SAIF Partners in a seed funding ro....

IBM launches public data centre in Chennai, partners with Nasscom to boost start ups

IBM launches public data centre in ...

October 15, 2015

Technology giant, IBM today launched public data centre in Chennai to tap into growing demand from financial services and governme....

For Nasscom, PPP will boost startups in India

For Nasscom, PPP will boost startup...

October 14, 2015

In the wake of some reservations over the central government creating startup funds, Nasscom's "10,000 startups" Vice President, R....

WalmartLabs to seek partnership with Indian startups

WalmartLabs to seek partnership wit...

October 14, 2015

WalmartLabs, the digital arm of US-based retailing major Walmart Stores, is scouting for startups in India for partnership and wor....