Students need to be wary of the 5 million VND income trap.

The above is a statement from Professor Dr. Chu Duc Trinh, Rector of the University of Technology (Vietnam National University , Hanoi ), at the 2024 Job Fair, held in Hanoi on March 30th.

The event helps students understand how the labor market is evolving, giving them the opportunity to explore different job markets to identify areas where they lack or have skills, so that they can find suitable careers after graduation.

Students explore job opportunities at the job fair (Photo: M. Ha).

Dropped out of university to pursue a career in the entertainment industry.

Professor Chu Duc Trinh stated that, in reality, many students go to school but want to quit to work, only to later want to quit their jobs again to return to school.

According to this principal, students may initially find it attractive to earn money and have an income early on, but they should be wary of the 5 million VND income trap because if they drop out of school to work before graduation, they will not have the opportunity to advance further.

Explaining the 5 million VND income trap, Professor Trinh said that initially, students earn money from their jobs, but after a while, the job becomes unstable, preventing them from achieving higher salaries or rising to leadership positions. They remain ordinary workers until retirement with a mediocre salary of 5-7 million VND.

However, if students excel in their studies, possess excellent skills, and graduate on time, they will have opportunities for gradual advancement later on.

Professor Dr. Chu Duc Trinh, Rector of the University of Technology (Photo: M. Ha).

Speaking to Dan Tri newspaper, Mr. Pham Tuan Anh, representative of the Joboko recruitment technology platform, said that many students at top universities in technology fields are reluctant to get a degree and are starting work very early because many technology companies don't care much about qualifications; instead, they assess work performance based on real-world situations.

Statistics from this platform show that, typically, in economics-related fields, many students seek internship opportunities from their second year, and by their third or fourth year, they are already working at companies. Meanwhile, students from lower-ranked universities may only begin approaching work at companies in their third or fourth year, often through part-time work or internships while studying.

Ms. Dau Thanh Hoa, Head of Human Resources at LG R&D Vietnam, said that some undergraduate students also want to find job opportunities at the company, but the company's policy is not to recruit students who are still in school.

From a personal perspective, she believes that students can work part-time on weekends to earn extra income, but they shouldn't drop out of school to work or work too much, as they won't have enough time for their studies. "If they focus on doing one thing well, it will be better for them in the long run," Ms. Hoa said.

Mr. Pham Tuan Anh, representative of the Joboko recruitment technology platform (Photo: M. Ha).

Short-term calculations should be avoided.

According to Professor Trinh, the graduation rate of the University of Technology is about 90%, meaning that about 10% of students do not meet the graduation requirements for various reasons. Except for a very small number of highly talented students who drop out to start their own businesses, many of them fall into the trap of earning only 5 million VND.

The school principal believes that, unlike several decades ago, the domestic labor market now demands high quality to integrate with the world . If students drop out to work, especially those from technical schools, they will miss out on the basic knowledge and skills they learned in school, making it very difficult for them to perform innovative and creative jobs after graduation.

"For many years, our school has had a very strong message for businesses: The school only sends students for internships and does not participate in the employment process at all. Only after graduation will students get jobs at the company, which is sustainable for both sides."

"If things get too difficult, students can share their problems with their families and schools to overcome them, but spending 6-7 hours a day working part-time is really unstable. Students shouldn't use immediate difficulties as an investment in part-time work; that's a short-term calculation," Professor Trinh said.

Students research human resources and employment opportunities (Photo: M. Ha).

From the same perspective, Mr. Tuan Anh supports students getting acquainted with the workplace environment early on to understand professional processes, see what the labor market needs, and thereby adjust their learning methods and become familiar with new technologies that the school has not yet taught.

However, while they are students, they need to focus and dedicate more time to their studies, instead of dropping out halfway through to work and earn money - especially those with good academic records.

"Businesses can utilize highly capable students early on in certain job positions, but those who haven't yet perfected their skills and professional knowledge can sometimes create negative consequences for their own personal development and for the company, significantly limiting their potential for advancement later on."

Therefore, while still studying, students should only work part-time to familiarize themselves with the environment and some types of jobs so that after graduation they can encounter challenges and adjust their academic direction.

"Learning is always the top priority for us to hone core professional skills that we can use after graduation. If students don't complete the full training program, after 5 years, their work capabilities may not be as good as those of students who have completed the full training program," Mr. Tuan Anh affirmed.

Source: https://dantri.com.vn/giao-duc/sinh-vien-can-can-trong-voi-bay-thu-nhap-5-trieu-dong-20240330132157776.htm