The start of the year 2017. Happy New Year to everyone. May this year be another year full of successes, awesomeness, happiness, health, and wonderful experiences. The month of January has proved to be the month of gender pay studies indicating that the young experience a difference in pay, while millennials are the lucky ones where women earn almost as much as their male counterparts. But not only are women catching up in the workplace, they are also becoming increasingly important clients for big wealth management firms. Maybe we'll consequently see more women on the list of richest people in the world where currently eight people are reported to hold as much wealth as half of the world's population.
In order to join these select few, financial literacy is a must. But apparently this is where many millennials feel let down by the educational system pointing out that financial education was neglected during their school years.
January has also been an interesting month for entrepreneurs. If you fancy spending some time in France, drinking wine and eating good food while launching your startup, a new visa scheme allows you to do just that; even your spouse may join you on your Parisian journey.
Finally, bitcoins have proven tremendously popular, hitting the $ 1,000 mark and even leading a Federal Reserve employee to engage in bitcoin mining – thanks to the power provided by his employer.
Here again, just as in 2016, ten stories that stood out in January 2017.
1. This one is intriguing. Six months ago a similar article regarding pay inequality (that is pocket money) amongst children was published already showing "gender pay inequality" amongst young people. While the first study found a slight difference of around 80 pence, the new study shows that the “pay gap” between girls and boys is 2.20 per week. Pay inequality at such an early age sets, while only pocket money, is a bad precedent for kids’ future lives and perceptions of equality between women and men.
2. A new study highlights how little savings European and Americans have. Apparently almost one third of the population have no savings at all.
3. Who is the richest person in the world? Apparently a small number of eight people including the likes of Warren Buffett and Bill Gates are as rich as half the world's population.
4. Girl power. Women are catching up, not only in the workplace, but they have now become a very important audience for wealth managers. UBS is training their staff to better serve female clients.
5. According to a recent report 70% of millennials feel let down in school regarding their financial education; while simultaneously many seem to be financially savvy enough to run the numbers on whether shares are a better investment than buying property.
6. Millennials are more concerned about ethics when investing than previous generations placing morals before profit.
7. The gender pay gap is narrowing amongst millennials. According to a recent study by a British think tank, today's female workforce faces lesser risks of experiencing lower pay because of their gender. However, it's only young women who get to enjoy equality. Beginning with their 30s women, just as previous generations, are paid less than their male counterparts.
8. How about a baguette and a startup? France has launched a new visa scheme for people from outside of Europe who are eager to found or work for a startup, foreign investors, and business angels. Even your partner is allowed to work under the new scheme.
9. A very interesting take on entrepreneurship. While past generations were forced into entrepreneurship, this generation is all about self-fulfillment and drive and ambition to determine their own destiny rather than be told by others how to live their lives.
10. Bitcoins are gaining serious momentum. Not only has the year commenced with bitcoins topping the $ 1,000 mark, but also has led a Federal Reserve employee to use his employer's computer power to mine bitcoins.