News and Events

Even though there have been many warnings about redundancy in the fields of finance and banking, students continue to apply to these departments for the upcoming university entrance exams.

According to the Hanoi Department of Education and Training, banking and finance departments in the city have received 152,000 applications this year. The number is 13,000 less than last year, yet Hanoi retains the top spot for cities with the most university applications for these fields.

Despite the fact that the Ministry of Education and Training cut admission quotas for the finance and banking sector, it is still the most popular choice among students. The Academy of Finance received 4,700 applications while National Economics University and Banking Academy both received 4,900 applications.

Thanh Hoa Province takes second place in terms of applications. Nguyen Van Long, from Thanh Hoa Province's Department of Education and Training, said, "The province has got 48,900 applications. Last year, the province's Academy of Finance ranked 26th in the number of applications, but this year it ranks 5th. The National Economics University, Thanh Hoa branch ranks 8th, while applications other universities greatly decreased."

Long went on to say that the province has 25,000 unemployed graduates and the number has affected student choices. On the other hand, over 1,200 applications were submitted to the environmental and natural resources departments even though this is not an area that is lacking in human resources. "Obviously, we lack career consultancy services for students," he said.

Do Thi Bich Loan, from Vietnam Institute of Education Sciences, said that, due to the lack of information on job opportunities in Vietnam, students have not been making informed decisions when it comes to their education. In addition, young people like to have degrees and think that university is the only way to get jobs and promotions. "In reality, the market needs a skilled workforce. Many students have not accurately assessed their own strengths and weaknesses for the educational paths they choose. Vocational schools should be seen as a viable alternative to university," she said.

Deputy head of HCM City Department of Education and Training said that many people prefer university, and that is the reason vocational schools are having trouble recruiting students. Also, families and students are not satisfied with the current support and consultancy services available to students at vocational schools.