Intern week at BondMason
As part of our ethos to be involved in the local community of Harpenden, we held our first intern week for three sixth formers who were looking for work experience in the world of investment management.
The week was filled with a variety of tasks and commenced with our interns conducting market research regarding young peoples’ perception of investing and each writing a blog post to summarise their findings.
James Russell, BondMason’s Business Development Director, stated:
“We are delighted that BondMason was able to support these young people with the opportunity to experience a week of working in an office environment. All three approached each task with spirit and vigour, we very much hope that their participation provided them with some insight into working life.”
Below are the articles each of the interns wrote; reflecting the findings of their market research:
The world is dealing with increasing issues like climate change, gender and racial equality, abortion and immigration, and it seems the iGen community have been thrust into an ‘adult role’ a bit prematurely, or so we may have thought.
Generation X are considerably more active and aware about their and the collective world’s future. For example, an activity such as investment banking or trading in physical/immaterial goods has an unsaid rule of it being a profession left to experienced adults and not a place for people aged in their early twenties and below.
Verily, the average age of people who identify as investors, according to a News Gallup poll taken in the past 5 years, is approximately 30. However, these polls normally don’t accurately convey the real opinions of the Generation X nation as these audiences tends to hang on the older side.
Themed investment specialists, BondMason, exclusively asked the opinions of people born from 1995-2002 and found that a majority had invested before and felt that the investment market was open to young people.
Interestingly, when asked what investment meant to them, nearly 32% remarked it was ‘investing time in your future’ and nearly 20% said it was ‘storing money in a bank’.
The survey also showed that the majority of those surveyed planned to start investing between the ages of 25-34. However, it must be noted that the survey audience all came from high achieving education institutions and were most likely extremely informed about the economic market. Although the audience were active in investing in alternative markets, they didn’t identify themselves with the term ‘investors’.
Investment doesn’t just apply to stocks and shares or trading, but investing in physical goods (shoes, clothing, collectables), time or your health are all valid options.
The construction of an investment-based survey for young people proved both enjoyable as well as being compelling and surprising. The paramount goal of this survey was to gauge the next generation of investors concerning their attitudes and experiences on investment. The Survey was aimed at the new ‘I-Gen’, specifically those born between 1995-2002.
My initial prediction expected a relatively negative response, due to young people having very limited disposable income.
However, the responses we received showed a very optimistic generation, who unanimously believed in investment, with 97.5% of participants saying they would be interested in investing at any time, as well 52% believing that someone should investigate investment options before they are 24.
However only 55% of participants believed that investment was open to someone of their age, this indicates there is plenty of space for improvement and in turn, a greater plethora of options for younger people could encourage larger participation. 80% of those surveyed had invested in physical items such as designer clothes and shoes, and a surprisingly high 25% had invested in the stock market at some point.
Looking to the future and how young people learn about investment; It is veering away from face to face meetings, but instead YouTube tutorials proved the most popular method to transfer information according to the survey. Also, from a business perspective, a general tutorial or advice video, could be viewed by millions, in comparison to physical reach in which the scope would be significantly decreased.
In an increasingly complex and heterogenous world, a multi-pronged approach to finance and income is necessary and investment is the key to unlock that door.
Recently at BondMason we conducted an online survey on a sample of 41 people. Their ages ranged from roughly 16 – 24 years old and we asked the an assortment of questions regarding the topic of investing.
In the study we asked questions relating to what the audience thought, what investment meant to them and opinions on future investment. The findings showed a variety of results; however, the survey could be used on an more varied sample to indicate the differences between the younger and older generations.
One question that stood out, was young peoples preferred method of communication to learn more about investing. YouTube was most popular with 45% of the vote, followed by a face-to-face conversation with 22.5%.
The figures also show that the future generation is more inclined to engage online rather than learn through the typical methods of teaching, i.e. in a classroom.
Changes in marketing techniques will most importantly make learning more about investing easier. As a result, in the very near future we could see an increase in more young people investing and as of right now we can already see this is starting to evolve.
Investment is becoming more accessible for younger people. In the past, some may have been drawn away from the idea of investing as it was deemed ‘too risky’, didn’t have the funds to start with or were clueless where to begin. With new online trading apps entering the market, e.g. Trading212, it is now possible to invest at home on the sofa with only a swipe of the finger and see the returns before you’ve made a cup of coffee.
With technology advancing every day, the iGen generation will be spoilt for choice when it comes to investment opportunities and as a result will be less restricted unlike previous generations.