Big Bucks for Enterprising Pupils

Young people who take part in enterprise education at school could gain a lot more than just the experience of running a business – research shows that participating in the Young Enterprise Company Programme at school can see pupils earn a third more than their peers by the time they are over 30.

The six-month study, which was carried out by FreshMinds research consultancy on behalf of leading enterprise education charity, Young Enterprise, shows that people who took part in the Young Enterprise Company Programme at school, generally went on to earn higher salaries later in life than those who didn’t.

The research also showed that Young Enterprise Alumni are more passionate about their jobs than their peers, with 77% saying that they find their jobs fulfilling, compared to only 59% of people who didn’t take part in the Young Enterprise Company Programme. In addition, Young Enterprise alumni were more likely to say that they felt they had the skills and knowledge to actively choose a career on leaving school, rather than simply falling into a job.

Key research findings include: 

• By the age of 30+, the median salary for Young Enterprise alumni is £40,000 - £45,000, compared to £26,000 - £30,000 for those who did not experience Young Enterprise at school
• 24% of Young Enterprise alumni knew what career path they wanted to follow and targeted a specific job compared to 12% of those who didn’t experience Young Enterprise
• Of those who didn’t experience the Young Enterprise Company Programme, 33% said they fell into their first job compared to 25% for the Young Enterprise alumni

Commenting on the research, Rachael Anderton, Young Enterprise Deputy Chief Executive said: “While we were aware that the ‘learning by doing’ approach of the Young Enterprise Company Programme can have considerable benefits in terms of building confidence and developing skills that wouldn’t otherwise be covered in the school curriculum, we were surprised that it can have such a striking impact on salary. We believe this is partly because of the role Young Enterprise plays in helping young people to understand the range of careers open to them and which skills will be required. 57% of Young Enterprise alumni told us that they had a good understanding of career options when they left school, compared to only 46% of those who didn’t experience the Young Enterprise Company Programme.”

Rachael added: “Until now, there has been limited research on the long term effectiveness of enterprise education. So, at a time when the issue is so high on the political agenda, and there is  little direct guidance to schools on how to spend the significant resources Government is investing with them, we are really thrilled that the benefits of Young Enterprise are now clear to see.”

Andy Powell, Chief Executive of Edge, an independent education foundation dedicated to promoting practical and vocational learning, adds: "One of the main drivers behind our support for Young Enterprise is our belief in learning by doing, and the practical development of skills through programmes like the Company Programme. It is only through learning by doing that people truly find out for themselves what they are good at and what they want to do in life, whilst gaining all those skills and abilities that have been highlighted through this evaluation."

As the pioneer of enterprise education in the UK, Young Enterprise has been working with teachers, business volunteers and learners to support the development of practical business skills for over 45 years. With funding support from Edge, Young Enterprise commissioned the Young Enterprise Alumni Research in order to better understand the impact of enterprise education, and more specifically the Young Enterprise Company Programme, on its alumni.