Click here to close now.

Welcome!

News Feed Item

Does a Degree Lead to Confidence? BMO Report Reveals Students' Outlook on Securing a Job, Home and Financial Stability

- Two thirds of graduating students believe their degree will lead to a job that allows them to buy a house and support a family

TORONTO, ONTARIO -- (Marketwired) -- 09/02/14 -- BMO Bank of Montreal today released a report on the confidence level of students in achieving future milestones, such as getting a job, buying a home and supporting a family after they graduate.

The report, conducted by Pollara, revealed that while optimism drops between first year and graduating years (fourth and fifth years), the majority of graduating students still believe their degree will lead to a job with strong financial stability.

Securing a job and career satisfaction


--  Three quarters (76 per cent) of graduating students believe they will be
    able to find a job in their field after graduation
--  Eight-in-ten graduating students believe their degree will lead to a job
    with strong career satisfaction

Buying a house and supporting a family


--  Two thirds (68 per cent) of graduating students believe their degree
    will lead to a job that enables them to buy a house; 64 per cent believe
    they will be able to support a family
--  Graduating students increase their home-buying timeline by almost 2
    years, predicting it will take 9.1 years after graduation to purchase a
    home

----------------------------------------------------------------------------
                       Varying Confidence of Students
----------------------------------------------------------------------------
I'm confident that my degree will
 lead to a job that enables me        First-year   Fourth/Fifth
 to...                                  students  year students      Overall
----------------------------------------------------------------------------
Support a family                             80%            64%          78%
----------------------------------------------------------------------------
Buy a house                                  80%            68%          76%
----------------------------------------------------------------------------
Strong career satisfaction                   90%            80%          89%
============================================================================
I will be able to buy a house in:      7.6 years      9.1 years    7.9 years
----------------------------------------------------------------------------

"By the time students reach their final years of education, they have a clear picture of both the cost incurred through their degree and their future financial situation as they graduate and enter the workforce," said Hugh Mckee, Vice President Customer Segments, BMO Bank of Montreal. "The transition from student to graduate can be overwhelming. Recent graduates need to ensure they are prepared to manage their expenses and savings as they begin their careers."

The report also revealed other positive changes between the first year and final year of undergraduate education, including smaller student loan debts, less stress and an increase in financial independence:


--  Graduating students estimate they will have $21,894 in student loan
    debt; $8,613 lower than the first year student estimate
--  Half (53 per cent) of graduating students are stressed about their
    student loan amount, lower than the two-thirds (67 per cent) of first
    year students who feel stressed
--  Of first year students, only 10 per cent are completely independent from
    their parents; 19 per cent of graduating students have financial
    independence

BMO offers the following tips to help students and recent graduates maximise their budgets:

Minimize banking fees: Do research and learn ways to save money and cut costs on banking fees, such as choosing a no-fee bank plan. BMO offers students free banking and is the only bank to extend this offer for an additional year after graduation.

Take advantage of "student status": Seek out discounts and promotions available to students. For instance, the no-fee BMO SPC MasterCard provides discounts at hundreds of retailers and restaurants across Canada and offers a choice of CashBack or AIR MILES reward miles.

Limit interest costs: Consider using a lower-rate option when borrowing to help cover expenses during school. The BMO Student Line of Credit, for example, charges interest only on what is actually borrowed and allows students to make interest-only payments while in school and up to one year following graduation.

The BMO Student Survey which was conducted by Pollara between August 1st and August 8th, 2014, with an online sample of 600 Canadians who will be attending a post-secondary school program in September 2014. Data has been weighted using the latest Canadian census information to be representative in terms of age, gender and region. The margin of error for a probability sample size of 600 is +/- 4.0%, 19 times out of 20.

About BMO Financial Group

Established in 1817 as Bank of Montreal, BMO Financial Group is a highly diversified financial services organization based in North America. The bank offers a broad range of retail banking, wealth management and investment banking products and services to more than 12 million customers. BMO Financial Group had total assets exceeding $586 billion and approximately 47,000 employees at July 31, 2014.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
SYS-CON Events announced today that Alert Logic, the leading provider of Security-as-a-Service solutions for the cloud, has been named “Bronze Sponsor” of SYS-CON's 17th International Cloud Expo® and DevOps Summit 2015 Silicon Valley, which will take place November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Alert Logic provides Security-as-a-Service for on-premises, cloud, and hybrid IT infrastructures, delivering deep security insight and continuous protection for cust...
The 4th International Internet of @ThingsExpo, co-located with the 17th International Cloud Expo - to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA - announces that its Call for Papers is open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than
Agile, which started in the development organization, has gradually expanded into other areas downstream - namely IT and Operations. Teams – then teams of teams – have streamlined processes, improved feedback loops and driven a much faster pace into IT departments which have had profound effects on the entire organization. In his session at DevOps Summit, Anders Wallgren, Chief Technology Officer of Electric Cloud, will discuss how DevOps and Continuous Delivery have emerged to help connect dev...
The 17th International Cloud Expo has announced that its Call for Papers is open. 17th International Cloud Expo, to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, APM, APIs, Microservices, Security, Big Data, Internet of Things, DevOps and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding bu...
SYS-CON Events announced today that Harbinger Systems will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Harbinger Systems is a global company providing software technology services. Since 1990, Harbinger has developed a strong customer base worldwide. Its customers include software product companies ranging from hi-tech start-ups in Silicon Valley to leading product companies in the US a...
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Arch...
The 5th International DevOps Summit, co-located with 17th International Cloud Expo – being held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the ...
DevOps Summit, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development...
SYS-CON Events announced today that Secure Infrastructure & Services will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Secure Infrastructure & Services (SIAS) is a managed services provider of cloud computing solutions for the IBM Power Systems market. The company helps mid-market firms built on IBM hardware platforms to deploy new levels of reliable and cost-effective computing and hig...
To many people, IoT is a buzzword whose value is not understood. Many people think IoT is all about wearables and home automation. In his session at @ThingsExpo, Mike Kavis, Vice President & Principal Cloud Architect at Cloud Technology Partners, discussed some incredible game-changing use cases and how they are transforming industries like agriculture, manufacturing, health care, and smart cities. He will discuss cool technologies like smart dust, robotics, smart labels, and much more. Prepare...
SYS-CON Events announced today that ProfitBricks, the provider of painless cloud infrastructure, will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. ProfitBricks is the IaaS provider that offers a painless cloud experience for all IT users, with no learning curve. ProfitBricks boasts flexible cloud servers and networking, an integrated Data Center Designer tool for visual control over the...
The cloud has transformed how we think about software quality. Instead of preventing failures, we must focus on automatic recovery from failure. In other words, resilience trumps traditional quality measures. Continuous delivery models further squeeze traditional notions of quality. Remember the venerable project management Iron Triangle? Among time, scope, and cost, you can only fix two or quality will suffer. Only in today's DevOps world, continuous testing, integration, and deployment upend...
SYS-CON Events announced today that MangoApps will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MangoApps provides private all-in-one social intranets allowing workers to securely collaborate from anywhere in the world and from any device. Social, mobile, and easy to use. MangoApps has been named a "Market Leader" by Ovum Research and a "Cool Vendor" by Gartner. 20,000+ business custome...
SYS-CON Events announced today that JFrog, maker of Artifactory, the popular Binary Repository Manager, will exhibit at SYS-CON's @DevOpsSummit Silicon Valley, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Based in California, Israel and France, founded by longtime field-experts, JFrog, creator of Artifactory and Bintray, has provided the market with the first Binary Repository solution and a software distribution social platform.
17th Cloud Expo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises ar...