Lockdown Brits turn to training and education to boost their careers

Almost a third of Brits are embracing the lockdown as a chance to improve themselves with new skills, training and qualifications, according to new research by eToro.

A quarter are studying with the aim of boosting their current or future career opportunities, while others are using the extra time at home to explore ways to generate more income, such as offering their freelance services or learning how to invest.

When it comes to improving their careers and earning potential, eToro’s research found:

  • 31% of people are already learning a new skill during lockdown, while 27% are undertaking some form of education or training
  • 26% of people are studying a course related to their current career, while 25% are following a course they hope will set them up for a new career
  • 29% of those surveyed said they would like to study new money-related skills, such as learning how to invest – a theme echoed by the 26% who said the most important factor in in learning a new skill was the potential to make money from it

Commenting on the findings, Iqbal V. Gandham, UK Managing Director of eToro, said: “It’s great to see that during such a difficult time there is an appetite for self-improvement and that people are using the extra hours they may have in lockdown to boost their careers or improve their financial situation. Although gripped by adversity, it is entirely in keeping with the spirit of the nation that so many should attempt to return from lockdown smarter, calmer and more capable than ever.

“Of particular interest is the widespread desire – felt by almost one in three – to acquire new monetary skills like investing. We have always worked to make investing more accessible, and it’s at times like these that the importance of this mission is most readily apparent.”

When it came to ways of generating more income, eToro found:

  • 38% said they would consider selling online via sites like eBay or etsy
  • 26% would be willing to do online tutoring
  • 23% would do an online course in stock market investing
  • while 18% would offer their freelance skills via sites like Fiverr

The reasons for undertaking learning also varies. For some, after three weeks at home, it is simply a question of keeping busy, with 38% saying they were studying ‘just for fun’. 23% said learning a new skill is a way to help with their mental wellbeing, while 18% wanted to improve their minds and 17% just wanted to alleviate the boredom.

The research was carried out using Attest consumer research on 6th April 2020. The survey had 1,000 respondents over the age of 18 from the UK, 92% of whom said they were in lockdown.

This is a marketing communication and should not be taken as investment advice, personal recommendation, or an offer of, or solicitation to buy or sell, any financial instruments. This material has been prepared without having regard to any particular investment objectives or financial situation, and has not been prepared in accordance with the legal and regulatory requirements to promote independent research. Any references to past performance of a financial instrument, index or a packaged investment product are not, and should not be taken as a reliable indicator of future results. eToro makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared utilising publicly-available information.