Digital economy opening new opportunities for successful careers

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• Almost half of all Australians (46%) have participated in the peer-to-peer economy to make money, using the likes of eBay, Gumtree or Airtasker

• One in seven has participated in the sharing economy to make money, like driving an Uber or renting out a room on Airbnb.

• Jobs that are fulfilling (61%), jobs that Australians are passionate about (57%); and jobs that are meaningful (53%) are considered ‘good jobs’.

Australians want to be fulfilled, feel passionate about what they are doing and have flexibility at work, and are now pursuing digital careers that put them in control of achieving success in their working lives, including creating social media businesses.

The final chapter of NAB’s whitepaper, Rethink Success: working for success in the digital age, reveals Aussies of all ages are embracing new possibilities. Almost half of all Australians (46%) have participated in the peer-to-peer economy to make money, using the likes of eBay, Gumtree or Airtasker, and one in seven has participated in the sharing economy to make money, like driving an Uber or renting out a room on Airbnb.

In addition, one in four working Australians are self-employed; and of those who currently do not own their own business, one in seven considers it a goal they would like to accomplish. Almost 60% of Australians would change their career if they were not happy with it.

These findings are in line with chapter one of Rethink Success, which showed that while Australians think having a good career is a contributor to personal success, far and away the top measure is ‘happiness’.

Andrew Hagger, NAB’s Chief Customer Officer, Consumer Banking and Wealth Management, and a father of three kids, said these new ways of thinking about success in your working life opens up opportunities for young and old Australians, and for Australian business.

“As a dad, it is exciting to think about the different careers open to my kids to find fulfilment and happiness; to make sure that work works for them. And it’s no different for those Australians who are already well in to, or nearing the end of, their working lives. This research tells us that Australians of all ages are reconsidering what success means for them.

“Similarly, with more Australian businesses embracing technology to be more agile and flexible, the opportunities to better meet the needs of customers and achieve success will only grow and grow.

“At NAB, we want to help all Aussies to feel confident with their money, so they can achieve success in their lives, regardless of the pathways they take to get there,” Mr Hagger said.

What does a ‘good job’ in 2017 look like?

As the digital age continues to present new earning opportunities, Australians consider they are ‘well paid’ if a good job pays $122,177. Aside from being well paid, 61% of Australians want a fulfilling job, want to do something they are passionate about (57%) and that is meaningful (53%).

Beyond 2017, what does career success look like?

In the future, most Australians agree jobs will be in technology (73%). And according to most, having iPads in the classroom is no longer enough, with close to 60% believing it is important for students to learn how to code and build apps at school. With technological advances now a constant in the work place, 77% agree ongoing training and up-skilling is essential to keep their jobs in the digital age.


About the Rethink Success whitepaper

To explore Australian views on success, NAB commissioned global research firm Ipsos to research the views of more than 2000 Australians aged 16 – 70, exploring the importance and relevance of quantitative measures of success such as wealth, status and home ownership against qualitative factors such as experience, personal fulfilment and wellbeing.

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