Canadian post-secondary students are increasingly pursuing skills development outside the classroom as concerns about the job market influence their education and career decisions, according to a new CIBC poll.
The poll found that 66 per cent of students are pursuing learning or skills development outside their formal education, with online courses and side projects among the most common ways they are preparing for their careers.
Among students pursuing additional skills development, 30 per cent are taking online courses, while another 30 per cent are working on side projects. Twenty per cent are pursuing professional certifications and 16 per cent are taking AI-related training.
The findings suggest students are placing greater emphasis on combining formal education with additional career preparation as they navigate uncertainty in the job market.
Three-quarters, or 76 per cent, of those surveyed said concerns about the job market are influencing the education and career decisions they are making today.
Improving earning potential was the leading motivation for pursuing additional skills, cited by 46 per cent of respondents, followed by enhancing job prospects at 43 per cent. Forty per cent said personal interest was also motivating them to build new skills.
"Students are thinking more holistically about their future, combining education and career preparation with a growing focus on financial wellbeing," said Carissa Lucreziano, Vice-President, Financial Planning and Advice, CIBC. "Alongside their education, they are looking for practical ways to build skills that can support their career ambitions and long-term financial goals."
The poll also found that students are taking steps to prepare financially for the upcoming academic year.
Two-thirds of respondents said they have a financial plan for the school year, while the same proportion said they plan to invest at least some of their summer earnings.
Eighty per cent expect to work during the academic year, although 57 per cent said they are concerned about covering tuition and expenses.
Despite those concerns, 78 per cent said they are optimistic about their personal financial future after graduation. The same proportion said they are confident they are making the right financial decisions for their future today.
The financial findings point to a student population balancing near-term education and living costs with longer-term career and financial planning, according to CIBC.
"It's encouraging to see students being so proactive about their next steps," added Lucreziano. "Whether they're learning new skills, balancing work during the school year, or investing some of their earnings toward their future, these are habits that can help create a strong foundation as they move from school into their careers."