With lots of economic and political uncertainty, Brexit seems dreadful to many students but it could be an incredible opportunity for some candidates to outshine in the 2020s labour market. In this post, Casita aims to demystify temporary fluctuations and elaborate on long-term trends to help you secure a good job after university.
1. Absolute Bargain on a British Degree
- British pound precipitated 10% after the vote but tuition fees can fall even more sharply because UK universities are now rival against US, Australia, and Canada. Despite paying less, students still enjoy the same teaching quality thanks to previous training and investment.
- University prestige is not directly attacked by this turmoil, therefore, won’t be bleedingly tarnished. Research funding has been committed, research quality remains top-notch and world-class campuses don’t disappear overnight. If EU research fund is no longer accessible to British labs, the UK won’t have to contribute to that common budget either.
- Costs of living for students are slated to stumble, as housing demand sags and housebuilders can’t really halt construction projects already in progress.
2. Where Is the UK?
- Between a rock and a hard place: They still hope to access the single market through the EEA/ EFTA and at the same time want to control their borders, which Angela Merkel “made clear that Britain would not have full access to the single market unless it accepted free movement.” (FT)
- How long is the transition period? 2-5 years or even longer, simply because both Remain and Leave sides prepared absolutely no exit plans.
- Second referendum to remain? Unlikely, as the poll was 100% clean. It’s a complete waste of time petitioning on Facebook - Remember, the elderly won without the help of social media!
- How strong is the UK economy? Fundamentally very robust, on par with the US despite being hindered by the EU. With just one decision, the UK can trigger global chaos thus its dominance on the world map is probably insurmountable in the next half-decade.
- Impact on non-EU students now and in the next few years? Very limited on the downside, as people will be busy dealing with EU nationals. On the upside, non-EUs can now go head-to-head with EU citizens and it clearly is a fairer competition that promises higher productivity.
- War threats? None.
- Any positive news? Yes, a big one. Having to prove they are better off outside the EU, the UK has no choice but to become much more economically sound and politically stable. Such a strong motivation hasn’t been felt since World War II!