Student Work Experience Helps Graduates Win Higher Salaries
Sergey Roshchin, HSE Vice Rector. Photo: Ilya Safarov, Ural Federal University
Sergey Roshchin, HSE Vice Rector, discussed the main trends in graduate employment at a panel discussion titled ‘University-Graduate-Business: How to Build Constructive Partnership’ organized by the Ural Federal University and Sistema Charitable Foundation as part of the XIX World Festival of Youth and Students in Sochi. The participants discussed the changes required in education due to growing competition and the approaches that universities and employers take to pooling efforts and creating a joint vision.
Sergey Roshchin analysed the position of young people on the labor market and said that those students who work while studying can take home salaries that are 20-30% higher than their colleagues in their first graduate jobs. ‘The idea of students studying for the sake of it, is obsolete: for a long time now they have combined studying and working,’ said Roshchin. ‘In universities some lecturers still think that students should only study and not be distracted by anything else. That’s a myth: when students work, it does not mean that they will become unprofessional specialists.’
Sergey Roshchin also outlined a problem that threatens the Russian labor market in the near future. Due to demographic waves, in particular due to the low birth rate in the 1990s, a very limited number of young people will join Russia’s labor market over the next 15 years. This means that the economy will have to deal with senior and middle-aged people. Competition for employing young people will increase, and this will have both positive and negative consequences, which is why this limited resource should be used with care. This is the most important background factor that will influence the situation in Russia for the next decade, if we are talking about employment.
Maxim Matsiborko, Regional Development Leader, PwC Russia, agreed with the HSE Vice Rector on the influence of experience on salary: ‘In our company, when hiring the employees with experience or who have at least completed internships, we offer them higher salaries, and we hire 20,000 to 30,000 young specialists every year.’
Anna Yanchevskaya, Director of Sistema Charitable Foundation, named the key skill that helps young professionals in their career: ‘The key skill that you can master in the university is self-study. It also applies to business: everything changes so fast, you see interdisciplinary approaches everywhere. If you study fast, you achieve success. It’s only a question of your motivation.’
Victor Koksharov, Rector of Ural Federal University indicated the people who help graduates build careers: ‘For us the issue of our graduates’ employment is one of the key questions. Students and graduates themselves play an important role in cooperation with employers. In a year more than 90% of the graduates find jobs, 80% of them work in their specialization area.’
Modelled on classical British programmes, the HSE Master's Programme 'Politics. Economics. Philosophy' (PEP) helps students delve deeper into economics and political science, broaden their philosophical outlook, develop their critical thinking skills, and enhance their social and academic capital. HSE News Services spoke with current first-year student Tamás Barnák and programme alumnus Franz Walternberger about why they chose PEP and what it is like to study at HSE University.
Graduate of HSE University and University of Luxemburg Tobi Oladiran from Nigeria reflects on his experience and takeaways from the Master’s programme in Strategic Corporate Finance and the double track it offers.
Pasha Andreyanov, Assistant Professor in the Department of Theoretical Economics at HSE University and Tomasz Sadzik, Assistant Professor of Economics at University of California, have described a mechanism that allows the stock market to remain relatively calm despite the growing influence of retail investors. Their joint article, 'Robust Mechanism Design of Exchange', was published in the Review of Economic Studies, one of the top 5 academic journals in economics and finance.
Aleksei Smirnov, Assistant Professor, HSE University Faculty of Economic Sciences, and Egor Starkov, Assistant Professor, University of Copenhagen, have constructed a mathematical model that explains why it is advantageous for sellers not to delete negative reviews of their products. A study detailing this conclusion has been accepted for publication in The American Economic Journal: Microeconomics.
In assessing an employee’s performance, employers often listen to his immediate supervisor or colleagues, and these opinions can be highly subjective. Sergey Stepanov, an economist from HSE University, has shown that biased evaluations can actually benefit employers. An article substantiating this finding was published in the Journal of Economic Behavior and Organization.
On October 23 – 24, 2020, the IX International Moscow Finance Conference will take place. The event has been organized jointly by ICEF and the London School of Economics. This year, the list of participants includes the editors of the two biggest journals in economics. Alexei Boulatov , Tenured Professor of HSE University, spoke about how the online format influenced the quality of academic events, what has changed in academic life over the last few months, and the topics that interest researchers today.
Experts often blame income inequality for a wide range of social ills. They usually calculate its severity using special statistical indices drawn from official tax data or large-scale surveys of individual households. Such analyses create an objective picture and indicate the degree of inequality and the basic factors behind it.
For years, Russians have failed to develop the ability to adapt to financial vulnerability — that is, to the risk of falling below the poverty line. This is associated with the fact that Russians are less satisfied with life and rate their well-being lower as well. With the prospect of falling poverty an ongoing problem, these indicators have not improved.
The coronavirus pandemic and lockdown have made life difficult for credit institutions and their clients. Citizens’ incomes have decreased, which can lead to an increase in bad debts, and a decrease in the key rate to support the economy makes deposits less and less attractive and deprives banks of an important resource. Banks are compelled to search for new ways to earn money, which carries additional risks, says HSE Banking Institute Director Vasily Solodkov.
2020 iCare Participants Discuss the Economic Effects of the Pandemic, the Accessibility of Higher Education in Russia, and More
On September 21, the VIII International Conference on Applied Research in Economics (iCare) was held online, bringing together more than 100 researchers from 19 countries. Organizers, speakers, teachers, and students shared their impressions of the event and talked about the opportunities that the conference opens up for them.