The Price of Success: Sacrifices young people make for their career

New research released today by The Prince’s Trust and LADbible Group highlights the challenges young people are facing when pursuing their careers and find financial stability.

• Financial stability and career fulfilment remain top priority for young people as new research suggests personal sacrifices are made to pursue this

• Almost half (47%) of young people have sacrificed their mental health to “get ahead” in their careers and 70% say financial stability would improve their mental health

• Many young people report having worked multiple jobs at one time, with the top motivators being to make ends meet (35%) and to support their families financially (33%)

The survey of 2,098 18–34-year-olds found that young people are making significant personal sacrifices to seek financial security and to get ahead in their careers. For those surveyed, financial stability is the top factor in determining success (72%) with 70% saying it would improve their mental health, alongside better work life balance (64%).

Financial stability is also a key consideration for young people when setting their personal goals, with over a quarter (28%) listing it as a top motivator. Young people are placing greater emphasis on financial stability than career fulfilment (41%) suggesting they are prioritising their financial needs over career satisfaction. Over half of young people (57%) also said they felt more pressure to “do what you love”, suggesting the prioritisation of financial stability may feel at odds with wider societal influences.

The pursuit of financial stability is leading many young people to make significant sacrifices in their personal lives, with nearly half (47%) saying they have sacrificed their mental health to get ahead in their career. The research also finds that young people are spending less time with their friends and family (46%) and not prioritising things for themselves such as hobbies or travelling (31%).

These sacrifices increase for young people already facing disadvantage such as those in social housing and who have caring responsibilities, with 62% of this group sacrificing their mental health, 56% spending less time with friends and family and half (49%) not prioritising travel and hobbies.

For those who have not already made sacrifices, findings suggest that they are still willing to do so. Half of those surveyed (52%) are willing to sacrifice their social life to get ahead in their career, 32% would sacrifice their mental health and 33% would sacrifice their physical health.

The research also found that many young people (44%) have had to work multiple jobs at some point in their lives to achieve financial stability and nearly 1 in 5 (18%) are currently working more than one job. The top motivators are to make ends meet (35%) and to support their family financially (33%). Almost a quarter (23%) of those working multiple jobs are doing so to support their career growth.

Read the full report: The Price of Success: Sacrifices young people make for their career LADnation report

Arainu Afeldt, Head of Employability at The Prince’s Trust said: “Financial security, perhaps more now than ever, is of upmost importance for young people as they embark upon their careers, and this research highlights the price they are willing to pay in search of it.

“This research demonstrates young people are ambitious and motivated and want to succeed. However, it’s crucial they are offered the support they need to be able to achieve their goals without being detrimental to their mental health and wellbeing. At The Trust, we know that in the longer-term poor mental health can lead to missing work and can create a negative cycle in people’s working lives.

“The courses the Trust offers provide young people with practical experience, mentorship and skills to help them realise their potential and build a more sustainable future for themselves.”

Emily Driscoll, Head of Data, Intelligence & Planning at LADbible Group said: “This research shows that in today’s economic landscape, young people prioritise financial stability as a cornerstone of their career aspirations but can be sacrificing their mental health in order to seek security. By addressing the significant personal costs that young people are facing to reach their ambitions, we can help pave the way for not just career fulfilment but also a healthier, happier young generation”.

The research was commissioned by The Princes’ Trust and LADbible Group, which used its consumer youth panel LADnation. LADnation is a consumer youth panel consisting of over 55,000 Gen Zs and Millennials.

The Prince’s Trust helps tens of thousands of young people each year to build the confidence and skills they need to realise their potential. Three in four young people on Prince’s Trust programmes move into work, education or training.

About LADnation  

LADnation is the consumer youth panel by the world’s leading social publisher LADbible Group. The panel has had over 55,000 sign ups with the number continuing to grow. LADnation is a youth panel utilising our engagement with young people to gain rich insights from this generation.