Nearly nine in 10 Brits aren’t working in their ‘dream job’.
A study of 2,000 employees found 85 per cent are working in a position which isn’t ideal for them.
And nearly two-thirds don’t think they will ever land their ‘dream job’.
Millennials are the most optimistic generation, as 64 per cent of 18-35s think they will be in the perfect role in an average of six years from now.
Despite four in five saying they enjoy their current role, only one in ten millennials think they will work in the same industry for the rest of their working life.
Ross Duncton, Managing Director, Head of Direct at BMO, which manages F&C Investment Trust, said: “Our research highlights how focused UK millennials are about their futures, especially in terms of career ambitions, and for the most part they are optimistic about achieving their dream job in just a few years.
“While it may be hard to visualise your future self, breaking the big picture down into small, more manageable goals can help.”
The biggest factors holding working Brits back from pursuing their dream job is fear of failure and not having enough money saved to switch career now, the study found.
In total, a third of workers are not pursuing their dream jobs due to money issues.
If they were to take the plunge and leave their current job in pursuit of their dream one, the average working Brit estimates they would need a ‘buffer’ of £3,340 in savings to support themselves between jobs.
However only 14 per cent believe they have enough money saved to make the transition, and nearly a fifth admitted to not having any savings at all.
For those Brits already in their dream job, 43 per cent said they wished they had saved money to do it earlier.
When thinking about their future dream job, Brits prioritises a better work/life balance above all else, followed by a higher salary and a less stressful working environment.
One in four millennials are waiting until they start a family to pursue their dream job while one in seven believe knowledge is a barrier, feeling unsure how to get into the industry they want to.
When thinking back to when they were children, the top jobs millennials aspired to be were vets, teachers, footballers and actors/actress.
And one in ten revealed their dream job today is still the same as when they were a child.
Sixty two per cent have since changed their mind on their dream job.
Thirty six per cent came to feel their desired dream job was an unrealistic goal, according to the survey conducted by OnePoll.com, and a quarter don’t have the right skills or talent.
The top three dream jobs for millennials now include medical professional, property developer and a businessman/businesswoman.
For women, their dream job nowadays has moved from teacher to author whilst men have moved from aspiring football player to entrepreneur.
Duncton said: “The financial services industry must remain focused on bringing saving and investing alive for young people – to empower them with knowledge and confidence to help them reach their financial and life goals.
“However, there are a few barriers that they need to overcome.
”For example, they realise they will need a ‘buffer’ of over £3,000 to manage the move towards their ‘dream’ job, but nearly a fifth don’t have any savings at all.
“People yet to find their dream jobs can take learning from those that already have.
”Just under half of those who have already made the transition say they wished they had saved money to do it sooner.
“Lack of confidence also seems to be a barrier with fear of failure and lack of knowledge holding people back from pursuing their dreams.
”Previous research we undertook confirmed how much appetite there is among millennials for financial education.”
TOP TEN DREAM JOBS FOR UK ADULTS:
1. Writer
2. Entrepreneur
3. Property Developer
4. Actor/Actress
5. Author
6. Businessman/Businesswoman
7. Hotel/B&B owner
8. Medical Professional
9. Environmentalist
10. Financial Services Professional
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