Worth to follow

That’s what young people studying abroad think of their life prospects

Bodzás Szabolcs | 2022-09-25
The first Hungarian Youth Affluent Finance 2022 study, a research project jointly undertaken by Blochams Capital and the Hungarian Youth Association, used hundreds of focus-group interviews to shed light on how 18-25 year-olds are thinking about their later life.

At present, approximately 20,000 young Hungarians are studying abroad, that is about 8% of all young people between 18 and 25. Of these, 88% identify as upper middle or middle class, and only a quarter of them say they will definitely return to Hungary after finishing their studies.

They say that compared to the starting monthly salary of HUF 510,000 net they expect to earn were they to return to Hungary — as opposed to those studying in Hungary, who expect only around HUF 330,000 net monthly —, abroad they will be able to earn more than double, the equivalent of HUF 1.1 million. They also calculate that amount will increase to HUF 2.5 million per month once they reach five years of work experience.

Most students are not counting on receiving a state pension, with 70% thinking the current system will be a thing of the past by the time they reach pension age.

One in two students says they already have a long-term strategy for providing for themselves.

22 percent already have some investments, of small or moderate amounts.

Of those who consider themselves to be upper or upper-middle class, 22% would never want to resort to taking out loans, while among middle and lower-middle class students, that ratio is 14%.

Tags: abroad   Generation Z   pension   research   university   work