Of the 1,300 business students who responded to our survey, well over half reported that changes to housing benefits worsened their financial situation. A quarter said their financial situation would significantly deteriorate.
A quarter of the students declared understanding the how and why of the cuts, but that the timing is particularly challenging for their livelihood.
Here are some of students’ comments:
“The cuts themselves wouldn’t be so bad, but combined with the difficult summer job situation, my financial situation is worrying, as I won’t accumulate savings over the summer.”
“I think cuts to student benefits are a good thing. But when considering what other budget lines aren’t getting cut simultaneously, the cuts seem unfair and unreasonable.”
Employers should reconsider hiring summer workers
This year’ summer job situation has been poor for business students. A staggering 80% of students reported that getting a summer job has been more difficult than last year.
Business students have traditionally been well-employed during the summer. Last summer, 91% of respondents to the Business & Economics students – Kylteri – summer job survey found employment. Only 4% had unsuccessfully applied for summer jobs. The Kylteri summer job survey is conducted every fall, and in 2023, it had 1,222 business student respondents.
Now, it looks like more and more students will have to get by without summer job income.
“Weak financial support often also challenges mental health, and this already affects the entire society. We can’t afford to lose these young people. Last week there were positive economic growth signals, and that’s why I appeal to entrepreneurs: consider once more if hiring a summer worker is possible. For many students, summer earnings are a crucial part of their financial support during studies and allow for more effective studying. This way, students can graduate on time and young professionals can enter the workforce,” says Jukka-Pekka Kokkonen, chair of Suomen Ekonomit.
Here are some of students’ comments on their summer job search this spring:
“I sent close to 50 job applications to a wide range of places (from cleaner to store cashier), and I wasn’t selected for any. It’s frustrating that the poor financial situation of a student is entirely blamed on the individual.”
“I applied for almost a hundred summer jobs, and only then did I get one. Each summer job had hundreds of applicants, and I eventually got a job that wasn’t even publicly advertised.”
“The summer job search has been much harder. I have two bachelor’s degrees and two master’s degrees in my field, even though I’m 23 years old. Yet, I didn’t get into any job in my field, despite making about 40 applications.”
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