Perhaps inspired by the "Who Wants To Be A Millionaire?" craze, thirty percent of college students believe they will become millionaires in their 40s, according to a poll of college and university students from around the world conducted at the Ernst & Young LLP International Intern Leadership Conference.

A majority of the students (76 percent) also expect to be better off financially than their parents and intend to place a strong emphasis on their own career development (25 percent) and balancing their careers and personal lives (47 percent).

These findings were obtained during a series of polls of approximately 800 college and university students from around the world who gathered in Disneyworld (Orlando, FL), August 3-6, 2000, for the Ernst & Young intern conference.

"Ernst & Young recognizes that in order to succeed in a global marketplace, we need to attract the best and most talented people," said Lewis Ting, Ernst & Young's global managing partner of human resources. "Young people entering the workforce with the courage and skills to challenge what has been done in the past are the most likely to drive change and enhance our success and effectiveness in the future."

Among the other survey findings:

Money

A majority of college students expect to become millionaires in their lifetime. Of 797 surveyed:

• 30 percent expect to become millionaires in their 40s
• 19 percent think they will become millionaires in their 50s
• 17 percent expect to become millionaires in their 30s
• 5 percent expect to become millionaires in their 60s
• 5 percent expect to become millionaires in their 20s
• 25 percent think they will never become millionaires

Most students expect to be better off than their parents in terms of income level and quality of life. Of 796 surveyed:

• 76 percent think they will be better off than their parents
• 19 percent expect to have the same level of income and quality of life as their parents
• 5 percent think they will be worse off than their parents

Students plan to invest in either long-term conservative stocks and mutual funds or high-risk stock investments when saving for the future. Of 796 surveyed:

• 30 percent plan to invest in long-term conservative stocks or mutual funds
• 29 percent plan to invest in high-risk, aggressive stock investments (such as World Funds)
• 10 percent plan to invest in their company's retirement plan
• 10 percent will invest in an individual retirement plan
• 2 percent plan to invest in bonds or CDs
• 17 percent don't know how they will save for the future

Technology

Most students have downloaded music from the Internet, but many also believe Internet services used for downloading (e.g., Napster) are copyright infringement tools. Of 772 surveyed:

• 57 percent have downloaded music from the Internet Of 773 surveyed:
• 54 percent believe the recording industry is correct in their argument that Internet services such as Napster are copyright infringement tools.
• Most students use the Internet every day. Of 772 surveyed:
• 91 percent use the Internet on a daily basis
• 6 percent use the Internet once a week
• 2 percent never use the Internet
• Less than 2 percent use the Internet infrequently

E-mail and cell phones are students' "must-have" technology tools. Of 774 surveyed:

• 61 percent say e-mail is their favorite technology tool
• 23 percent have a cell phone
• 5 percent use a Palm computing device
• 2 percent use a software organizer
• 1 percent uses a pager
• 8 percent rely on other tools

Careers

Most students expect to retire in their 50s. Of 703 surveyed:

• 49 percent think they will retire in their 50s
• 22 percent expect to retire in their 60s
• 14 percent think they will retire in their 40s
• 5 percent think they will retire in their 20s
• 4 percent think they will retire in their 30s
• 7 percent expect to never retire

Work-life balance and career development are students' top priorities for the next three years; few want to become dot-com billionaires. Of 703 surveyed:

• 47 percent say that balancing their career with their personal lives is a priority
• 25 percent place an emphasis on career development
• 8 percent want to build a sound financial base
• 7 percent want to pursue continuous learning opportunities
• 6 percent want to pursue work opportunities in other countries
• 6 percent want to become dot-com billionaires

Work-Life Balance/Diversity Family and friends are students' top priority when managing their work and personal lives. Of 703 surveyed (42 percent male, 57 percent female):

• 81 percent view family and friends as their top priority in balancing work and personal life
• 9 percent view their career as their top priority
• 3 percent place an emphasis on sports or outdoor activities
• 3 percent place continuing education as a priority
• None view community service as a priority
• 4 percent have other priorities

The corporate world is doing a pretty good job of attracting and retaining a diverse workforce. Of 702 surveyed:

• 58 percent think the corporate world is doing enough to attract and retain a diverse workforce
• 42 percent don't think the corporate world is doing enough And:
• 64 percent say it is important to them to work for a diverse organization
• 36 percent say it's not important to them

Ernst & Young, a global leader in professional services, helps clients to quickly and confidently make financial decisions designed to enhance value. Its 77,000 people in more than 130 countries have the industry and financial experience to provide fresh perspectives on operating in the new economy. Ernst & Young offers traditional audit and tax services, as well as customized services in corporate finance, online security, risk management, the valuation of intangibles and e-business acceleration. In addition, legal services are available in various parts of the world where permitted. A collection of Ernst & Young's latest ideas on the new economy can be found at http://www.ey.com/thoughtcenter

Ernst & Young refers to the U.S. firm of Ernst & Young LLP and other members of the global Ernst & Young organization.

Polling was conducted at the Ernst & Young International Intern Leadership Conference, August 3-6, 2000, by Option Technologies Interactive.