Social class and nepotism continue to have a profound impact on the early career opportunities available to young people, according to recent research conducted by KPMG UK. The study was conducted by the independent research agency One Poll, which surveyed 2,000 young people aged 11 to 18 between 25th May and 5th June 2023. To assess socio-economic background, the parent or guardian of each participant disclosed the occupation of their highest household earner, following the guidance provided by the Bridge Group and Social Mobility Commission in 2021.
The research revealed that those from low socio-economic backgrounds are significantly less likely to have gained formal or informal work experience. The findings indicate that 40% of individuals from low socio-economic backgrounds have had exposure to the world of work, compared to the average rate of 47% among young people.
Moreover, the research highlighted that a substantial majority of respondents, 71% to be exact, believed that certain professions, such as becoming a doctor or lawyer, are easier to enter if their parents or guardians have also worked in similar fields. This perception sheds light on the prevalence of nepotism in certain industries. Notably, when it comes to securing work experience, 45% of those surveyed reported that such opportunities were arranged through family members or friends, while only 32% obtained them through their school.
The study specifically explored the field of accountancy and found that nearly half - 48% - of the participants believed that this profession favours individuals with parents or guardians from professional backgrounds, such as doctors, lawyers, or accountants.
In response to these findings, Jon Holt, the Chief Executive at KPMG UK, emphasised the urgent need to address the inherent disadvantages faced by young people from low socio-economic backgrounds. He acknowledged that the lack of fair and accessible work experience, coupled with a lack of guidance, hampers the prospects of these talented individuals early in their careers. Holt further asserted that businesses - including KPMG - must take an active role in levelling the playing field. Opening doors and offering opportunities for young people to experience the inner workings of firms is crucial. Equipping them with highly valued workplace skills, such as problem-solving and creative thinking, is essential for their success.
Gabriella Falco, an apprentice at KPMG UK, shared her personal experience, highlighting the importance of exposure to career possibilities. Despite not having access to work experience or career fairs during her upbringing, she stumbled upon a Women in Banking seminar that opened her eyes to potential opportunities. Falco's research led her to KPMG, where she found the firm's values aligned with her own.
As someone from a lower socio-economic background, she emphasised the impact that KPMG's social mobility employee network, UPbringing, has on colleagues from similar backgrounds. She expressed hope that young people from all walks of life can feel excited and confident about the diverse range of career options available to them.
KPMG has been dedicated to increasing social mobility within its profession for over a decade. In September 2021, the firm became one of the first businesses to publish its socio-economic background pay gaps, demonstrating its commitment to transparency. KPMG has also set ambitious targets to enhance the socio-economic diversity of its workforce. Additionally, the firm conducted a pioneering "progression gap" analysis in December of the previous year, which highlighted the influence of socio-economic background, measured by parental occupation, on individuals' career advancement. This analysis revealed that parental occupation has the most significant impact on career progression, surpassing other diversity characteristics.
The findings of KPMG's research shed light on the ongoing challenges faced by young people from low socio-economic backgrounds. They underscore the need for concerted efforts from businesses, educational institutions, and society as a whole to dismantle barriers and create equal opportunities for all. By promoting fair access to work experience and providing guidance to young individuals, the way for a more inclusive and diverse workforce that harnesses the full potential of talent from every background can be paved.
