Slovakia ranks 5th among the most worker-friendly countries, with an overall work and employment score of 6.29. New research by William Russell has analysed data from 30 OECD countries to reveal which countries offer the best working conditions and benefits. The countries with the best overall work benefits Rank Country Average Salary Weeks of Maternity Leave Average Weekly Working Hours Annual Minimum Wage Minimum Paid Annual Leave Work & Employment Score /10 1 Denmark $62,054 18.00 26.6 $27,920 25 7.54 2 Finland $50,698 18.00 30.6 $25,962 25 7.46 3 Norway $53,079 19.00 26.6 $25,029 25 6.99 4 Austria $58,139 16.00 31.0 $18,342 25 6.90 5 Slovakia $24,769 34.00 32.6 $8,410 25 6.29 6 France $49,619 16.00 28.9 $21,973 25 6.25 7 Netherlands $61,734 16.00 27.7 $23,644 20 5.91 8 Sweden $49,825 12.00 30.9 $21,169 25 5.86 9 Ireland $52,352 42.00 34.1 $24,322 20 5.73 10 Belgium $59,601 15.00 30.5 $23,183 20 5.69 The research reveals: Denmark is the country with the best workplace benefits, receiving the highest work and employment score of 7.54, combining high salaries with low working hours, well-protected workers’ rights, and a minimum of 25 days of annual leave. In second place is Finland with a work and employment score of 7.46. Finland also has a particularly high score on the Labour Rights Index, indicating that the country cares about the average worker. In third place is Norway, which earned a work and employment score of 6.99. Slightly lower scores on the Labour Rights Index, minimum wage and public holidays prevent the country from ranking higher. On the other hand, Mexico has the worst work and employment score of 0.47. Further study insights: Lithuania has the highest score on the Labour Rights Index at 96 out of 100, indicating that it’s a great place for workers to earn a living in decent conditions. The United States has the highest average salary in our study at $74,738, which is more than $12,000 higher than any other country. Estonia offers the highest amount of maternity leave of any country in our study at 62 weeks. The country also has the highest minimum amount of paid annual leave at 28 days. Denmark has the lowest average weekly working hours of any country in our study at just 26.48. New Zealand has the highest annual minimum wage of $29,051, making it the best country for low-skilled workers or those in low-paying sectors. Japan has the highest number of paid public holidays in our study, with 16 days of national holiday each year.
“I learned how well the human body could cope,” says Tetiana Bugasova, “every instinct responding to the highly stressed situations encountered when we travelled to the Hungarian border after the war started,” Tetiana Bugasova is a Chief Operating Officer in the Kyiv office of CMS Cameron McKenna Nabarro Olswang. Tetiana has over 25-years of experience with international companies – fifteen of which she has spent with CMS. She is a strong business and strategy development professional, skilled in general management, human resources, business process improvement, supplier negotiation, merger negotiations and change & crisis management. CMS is the 5th largest global law firm. The Kyiv office of CMS Cameron McKenna Nabarro Olswang employs over sixty-five employees. The Ukraine team of CMS has been fully operational since the beginning of the war and is working through hubs in Budapest, Kyiv, Western Ukraine, and a few other locations. We sat down with Tetiana to talk about leading her CMS team of lawyers into safety, dealing with the enormous stress, and working amidst the raging conflict in her home country, Ukraine. Is it nearly impossible to imagine the level of stress people of Ukraine went through, especially in the first days of the Russian invasion. Could you please share how you managed to cope? Let me tell you about the changing dynamics in our office. We were a team of sixty-five people. At the start of the war most of us were relocated to different locations, mainly in Budapest and Western Ukraine, with only about ten people staying in Kyiv. Now, half of the team is back in Kyiv, and the other half located in Budapest, Western Ukraine and elsewhere. How did your company support you during the move? The action plan was developed in coordination with the Global Business Continuity Team a few months before the war, but we didn’t expect it to be implemented. We warned staff that the situation in Ukraine was not looking good and suggested a relocation to our office in Budapest. But at that point everyone was hopeful that the situation would not escalate. Our views started to radically change when we learnt that most of the embassies and international schools had had been evacuated. After that, we thought we must reassess and take the situation more seriously. One day before the war, my son left with his football team to Wroclaw. The following early morning on February 24, the day the war started, I had innumerable calls including from my son who was crossing the Ukrainian-Polish boarder when the team of 180 young football players, trainers and some parents who were travelling with their children had to make some tough decisions whether to cross to Poland and go back to Ukraine On that day we faced flights no longer being available, enormous traffic jams, huge queues and limited petrol available because of massive evacuations of civilians. We were now on extreme alert: bombs were falling on Kyiv and Russian troops were on the ground. It was very clear for me that if I wanted to see my son again, I had to evacuate immediately, and that I must do everything in my power to help to evacuate as many of our team as possible. We must be forever grateful for our global company CMS, for supporting the team and continuing operations. There is an old expression: “a friend in need is a friend indeed”. That day we experienced true friendship and real connection to the global CMS family, who helped us in every way possible. Was that the first-time employees had to move to safety? It was the time when everybody started to become seriously worried. We had an evacuation emergency plan in place and this was the time when we had to put it into practice. We learnt that the sense of security has different meanings to different people and that being evacuated to a safer place in such difficult times can be more stressful than to stay with their families – who either don’t want or are not able to leave home. It took a lot of my time and energy to hold numerous discussions to convince people to move. We had to decide how best to transport people with buses, minibuses, and cars – which in the circumstances were challenging to drive. On average it was taking us three full days to get to the border with Hungary. We drove without breaks; I would ask passengers in cars in front of me if they could please drive my car for ten minutes so that I could sleep. I learned then how much the human body could take, what it could endure. Most of the team moved away to safe places, but there were some people who did not want and could not leave initially. And there was a moment when we got to the point that the firm had to arrange for professional extraction services for some of our people and their families, which in retrospect sounds almost funny and rather like a thriller story, but at the time was terrifying and stressful as we watched our convoy moving through many checkpoints to a safer place. Did you have any specific emergency evacuation plan? We have a great team of top professionals in our IT and Global Business Continuity community that helped us to stay in contact with our people and to know their location and if they needed help. That team developed an emergency app to help us track our people and to know if they were safe. We also have the “international operational centre” team, which was set up from the time the first bomb landed in Kyiv, and worked 24/7 to help our employees, their families, and friends. The team was in charge of organising border crossings to get people out on the first day of the war, and to support those en route with information and accommodation as they escaped to safety. So, how did the employees and the whole office manage to cope? Was there a loss of jobs, considering you mainly operate in Ukraine? We managed to evacuate about 50 % of our people – 40 % to Hungary and the rest were in the Western part of Ukraine and Kyiv. Many people didn’t want to move, and it wasn’t easy to persuade them. Some of our people are still there now. Some clients never stopped their work, and so some practices remained behind to advise them. Clients needed to stay in touch with us and seek advice; they were in the same boat and not all of them had emergency plans in place. Speaking about our team, one of our partner candidates had their final interview for the partnership on the day the war began. The work did not pause or end. Other staff started working immediately after they reached a new location following evacuation. We of course experienced some fall in business activity from our clients, but despite that we can deploy our highly skilled lawyers and business services personnel to serve other CMS offices and projects. CMS is a truly international firm with lots of horizontal links with each other, which makes us all exceptionally skilled and used to working with different teams in different offices. This gives us an enormous opportunity to ensure that our team continues to develop as professionals. How do you, as a person, get the strength, and what are your coping mechanisms? As a manager, a leader of your office, a woman, and a mother? Lawyers, especially in Ukraine, are used to working long hours and being under enormous stress. But what we faced on 24 February was beyond ordinary human experience. I resolved to do two things: to take care of my family and to sustain business operations in the face of all challenges. It wasn’t easy. Though I enjoy dealing with difficult situations, and finding ways to fix them this was, even for me, a little bit too much to deal with. It was the relentless stress; at some point I constantly felt tired and exhausted. But I knew I had to keep going – and I did. Meditation, yoga practice and being in the countryside have helped me. How do you deal with your mental health in such a stressful situation? It was a priority for us to take care of our team‘s mental health and well-being before the war. It remained a principal priority after the dreadful events of the war, for the team to help employees and their families deal with any post-traumatic syndromes. Professional psychological assistance was made available to all members of our team and their families – free of charge of course. The psychologist we engaged speaks English, Ukrainian and Russian, and she also grew up in Ukraine, lived in Hungary and now lives in the UK – so she is well qualified to help us to adapt to what was happening, or to being in a different country and culture. Businesses are all about reaching goals and plans. But how do you plan for the future in such an unpredictable and unstable situation? I have learned from all my years in business that you always need to be prepared. You must be ready for the worst and for the best. If you plan, you will always succeed. You must know your team, who you can rely on in difficult times and who you can rely on in more enjoyable times. But these present tough times are when you can see clearly who can be depended on; and you see new sides of your team. And what is always significant is quality networking. We have proven this in CMS when dealing with this unprecedented situation. It helped us survive, but real networking, like real friendship, is also about giving back. Speaking of team members, you mentioned a lot of them worked on helping and fundraising for others, as well as for the troops. Yes, from the moment the war started – big decisions were made by everyone. Some people left a commercial environment because they wanted to do something bigger for society. One of our previous employees is now in an international organisation and helps report on the crimes committed during the war; they are currently working with the Haag judges. The community of CMS lawyers in Ukraine, and other lawyers underground, devised an initiative for the charitable organisation Yellowblue Force. This community is trying to collect humanitarian aid from many and scattered locations, while working with international companies to supply hospitals with equipment, and helping the military to acquire the vehicles they need. There are many personal stories of help freely given. For example, one of our lawyers, started creating little paintings the size of postcards and larger. She chose some war and Ukraine-related images and painted them for people. In doing this she made 2000 euros and donated all of it to the army. Lastly, I wanted to ask about your son. How is he coping, living in Budapest? Luckily, he left for Poland before the war began and has not seen any distressing scenes. He was with his football team and stayed in Wroclaw for the first month. I only got him back to Budapest once all my CMS team was sorted because I was working flat-out for a very long month. But he was also happy with his team and coaches. My son and his pals were treated like celebrities in Wroclaw. They attended football matches in big stadiums, and really enjoyed their time there. But they also didn’t want to leave because they understood they probably wouldn’t see each other again. He enjoys his time at school and is looking forward to returning to Ukraine when possible. Thank you, Tetiana, for sharing the stories and being the leader in these times. Thank you very much for having me and for your questions. But thanks to all of you who are supporting us. Every help and support matters in this battle. Thank you.
In today’s first chapter of our “Series for beginners – how to invest in stocks”, we’ll look at basic terminology about investing and trading on the stock exchange. We will also look at basic investment intruments. There is a bit of theory today, but only to the extent of explaining the basics, which you’ll need to understand the content in the following chapters thoroughly. What is the financial market? Let’s begin with a short explanation – what is the financial market? The most basic description is this: it’s a marketplace where those who have free money meet those who need money. In other words, it’s similar to other markets you know but specified to financial resources – money. It’s possible to find a lot of instruments on the financial markets that retail traders, like you and me, can trade with. We call these investment instruments or simply just instruments. Stock exchange Generally, the stock exchange is a place where it’s possible to trade with several instruments between buyers and sellers. Some instruments need to be traded on a specific exchange, for example, stocks on NYSE – New York Stock Exchange or commodities on Chicago Mercantile Exchange. The vast majority of exchanges are legally regulated, and they need to follow strict rules. Some instruments, for example, cryptocurrencies, are not traded on any specific exchange – the trades between buyers and sellers are intermediated by private subjects, for example, private company Coinbase. These private subjects provide platforms for trading cryptocurrencies. These companies are typically not regulated by any of the state authority. New York Stock Exchange on the famous Wall Street in New York What are the most commonly traded instruments and markets There are thousands of instruments traded on the stock exchange. As we mentioned above, some are traded on a specific exchange like stocks or commodities, and some, like cryptocurrencies, can be traded outside the exchange, in other words, on markets outside regulations. What are the most famous and most traded markets? Forex market Forex, or Foreign Exchange, is an international foreign exchange market with currencies. Buyers and sellers on the forex market are usually global banks, national banks, investment funds, brokerage companies or insurance companies. Thanks to the development of electronic trading in the last few years, forex market has become available also for retail investors as well and allows market participants to buy and sell foreign currencies worldwide. It’s a market with one of the highest liquidity in the world. This market operates 24 hours per day, five days a week. Stock exchange market A stock exchange market is a market where you can trade, i.e. buy and sell, stocks of listed companies. Stock exchange markets exist so that issuers (companies issuing stocks) can sell the stocks in favour of gaining profit and for investors to buy the stocks. What is STOCK? Stock is a Security which represents a share in a specific company. Specific rights are associated with each stock – the basis ones are the right of a company’s profit (in a form of a dividend) and the right to vote at the company’s general meeting. Bond market A bond is a debt obligation in the form of a Security. Therefore, a company issuing bonds gets capital from the buyers who buy the bonds. Bonds can be issued by the state (for example USA issues bonds called US Treasuries). Bonds can be issued also by private companies, these bonds are called corporate bonds. Commodity market There are many commodities traded on the market, from precious metals (such as gold or silver) to industrial metals (like allumnium or nickel). It is also typical to trade with agricultural commodities, like cacao, sugar, soy beans or wheat and energy, for example, natural gas or crude oil. Cryptocurrency market Everyone probably heard about bitcoin, ripple or ethereum. However, compared to the other markets, which are regulated by legislation, have their rules and are controlled and overseen by the government agency, the cryptocurrency market has no set of regulations or formal rules, and it’s not influenced by any governmental body. Thus, it is quite risky place for beginners. Market with different derivatives – like futures, options, CFD etc. Apart from commonly known instruments mentioned above, there are plenty of other specific instruments traded on the market. One of them are derivatives with their prices derived from other instruments. Moreover, it is also possible to trade with options (the right to buy a particular type of instrument). Conclusion There are tens of thousands of instruments that are traded on various markets, with billions of dollars of daily volume. Each instrument has its specifics and rules, and it’s easy for a person to feel overwhelmed by all of this. This series focuses on stocks trading for a good, concrete reason. In our next episode, we’ll examine why we think stocks are an ideal starting point for beginners.
Los Angeles Times invites you to join the 2022 Inspirational Women: Trends, Updates, Forum, and Leadership Awards. The Inspirational Women Forum & Awards is the biggest event of the year and it’s not to be missed! The Inspirational Women Forum & Awards is a half-day event with 2 components. The Awards Luncheon will recognize accomplished female leaders from corporations or non-profit organizations throughout California who have demonstrated noteworthy success and accomplishments during the last 24 months in approximately 10 award categories. In the morning, prior to the Awards Luncheon, a series of dynamic panel discussions with top business leaders with versatile backgrounds will take place aiming to inspire, empower and enlighten the audience. AGENDA Inspirational Women Forum 8:00am – 8:45am: Registration and Networking, Breakfast Buffet 9:00am – 9:05: Welcome Remarks Panel Discussions Tentative Duration: 9:15am – 12:00pm Game Changers: Females who have broken barriers in predominantly male dominate industries Mentorship: They Key to Retention? Why having a mentorship program should be part of any organization’s business model and strategy in terms of retaining and nurturing talent. What are some best practices. Overcoming Entrepreneurship Pitfalls – Challenges entrepreneurs should expect when starting and scaling a business with insights on how to launch and scale a business from the ground up. Prioritizing Mental Health and Wellness – Given all post-pandemic challenges individuals are facing, what are some programs companies/leaders are adopting to address mental health issues Investing In Your Future – Insights on how best to manage finances and invest for long-term success. Additionally, since many of our attendees are entrepreneurs this panel will address what founders and CEOs need to be aware of when seeking to buy/sell businesses. Inspirational Women Awards Luncheon 12:00pm – 12:20pm: Registration & Networking 12:30pm – 1:00pm: Opening Remarks & Lunch 1:00pm – 2:30pm: Awards Presentation
Current stock market turublent year became a forced but beneficial break from investing for me. I love summertime when one has time to read, study and think. One of the topics, which is very loud these days, is “Women and investing”. Typically you can read a lot about women not investing as much, not just in the Czech republic but elsewhere in the world. Today’s blog reflects on why this topic might be a reality. Plenty of interests and even more hurdles I have a lot of personal experiences with the following: whenever I tell another woman that I actively trade stocks, most of them show an active interest in it. They ask many questions – what am I buying or how much time do I spend by trading? Then, pretty much all of them sigh and talk about the need and interest in investing their money somehow, but… It’s a topic many women are dealing with, but it almost seems that an invisible force prevents most of them from doing the most crucial step – simply begin. Where is the problem? I often thought about the problem, not just me, but many others as well. And I think the problem is not the lack of education, knowledge or time. Instead, I believe women are overwhelmed with prejudices that discourage them from investing. During the last ten years, when I have been actively investing in stocks, I have experienced more than enough situations women have to deal with while investing. So let’s look at what can discourage women from investing – I named this list “The top prejudices discouraging women from investing” because I am confident those are indeed just prejudices we can overcome. Suppose you give yourself a point for every prejudice on this list that you find fitting. In that case, I bet especially very successful, educated women who are professionals in their respective fields would have the top score on the prejudice list. The top prejudices discouraging women from investing Self-confidence or “I need perfect knowledge or even better – a diploma from finances to actively and successfully invest”. I bet that for most women with full-time jobs or businesses in a different field than finances, this seems like a hurdle that is unbeatable. In their daily routines, most women can’t study finances and markets on top of everything. Education in finances can be an advantage but investing is possible without it. After all, we have not studied universities to raise children either, so that we can handle this without it as well. The need to be perfect and avoid mistakes Most professions (doctors, lawyers, accountants, tax advisors and others) are undeniably based on the principle that mistakes can mean and cause considerable complications. It can often mean financial loss, litigation, and problem with clients, and in the case of doctors, it can have fatal consequences. As women, we usually try to be perfect at our jobs, be perfect moms, have a perfectly organised home, and be good wives and partners. It’s also good to look stylish while doing it and care for ourselves. And if we are not perfect, we often feel a sense of guilt and often punish ourselves for it. But this approach doesn’t work when it comes to markets and investing in general. Markets are irrational, and you will make mistakes. But we can learn through mistakes and gain valuable experience. I often feel like a boxer when he got a brutal knockout, but after taking a step back, I realised those are important lessons, even though they can sometimes be very painful. I admit that there are many less painful ways on the way of investing… What’s critical is acknowledging that you don’t have to be perfect on the market, and it’s not necessary to be flawless. What’s important is to make money. The need to have every situation under control This is another stigma which we often carry due to multitasking which is an inevitable part of many women’s daily lives. We need to control our work/business, employees, kids and their schedule, and household, to name a few. Without control or a system, some aspects of our lives would collapse; at least, they would come in mine. This is another aspect that plays against women when investing. No one can control the market, the market does whatever it wants. The more control you want, the more frustration you’ll create for yourself. The best thing to do is to let the market flow; the moment you accept this, you will feel much better. And there will be plenty of control left after that. “I don’t have time.“ This is a comment I hear often, and I completely understand it. In a busy schedule, there isn’t any time for “nice to have” things like investments. Women often think that investing needs a lot of time, but in my opinion, it aligns with everything I mentioned above. Of course, you can spend plenty of hours per day on the market, but you don’t have to. It all depends on a person’s investment style and expectations about profits. If you spend by investing and control of your portfolio just a few hours a month because you don’t have more time, it’s clear you won’t be able to beat the market. But even a short amount of time (even an hour per month) is enough to be good investor…and to be honest, less can often be more. Checking the market once a month can save you a lot of nerves you would get if you see the markets’ ups and downs daily. Relationship to money Generally, the relationship to money is a big topic, not just among women. Many economically active women grew up during the communist period, where just a few things were available. Many women (often single mothers) have deeply rooted harmful money-related boycotting programs in their minds. Most women manage ordinary family budgets for shopping, holidays, and other regular household items. Many women don’t know any models from their own families, where a woman would make investment decisions. Those decisions are typically the male domain. It demands self-reflection and honesty to bring the root of these programmes to the light. People often find out that their minds carry many things which may not be very beneficial for them. The only thing that can help is to realise all those negative programes because after that, it’s much easier to start finding solutions. Women are brilliant investors, and we have the data!!! To support all the women about the fact that investing is unequivocally a field with enough space for them, we can look at the countless studies showing that women are better investors than men. To name all the reasons, we’d have to do another blog. Maybe next time. Conclusion The article’s conclusion is clear – all the prejudices I mentioned above exist only in our minds. If you think you need to start doing something before inflation eats up all your savings, it’s good to realise that those looking for a way will find it. The only limitations are those which exist in our minds. Marika Čupa
Hundreds of women professionals will gather virtually at the fifth annual Women|Future Conference from November 8-10. The Women|Future Conference is a professional and personal development, learning, and networking conference hosted by The Stevie® Awards, the world’s premier business awards. Attendees return to the conference year after year to be inspired, build resilience, and share insights into changes that impact their industries, their careers, and their lives. The agenda features over 20 panels, workshops, and breakout sessions hosted by 80 women CEOs, founders, small business owners, entrepreneurs, thought leaders, coaches, and executives from organizations such as Accenture, Goldman Sachs, Hilton, HUGO BOSS, IBM, LinkedIn, Microsoft, Nestle, T-Mobile, and others. Each session falls within one of seven tracks: Leadership Entrepreneurship Future of Work Marketing Personal Development Technology Workplace Diversity, Equity, and Inclusion (DEI) The sessions are designed for professionals in all stages of their careers to learn and share what’s working in their organizations, troubleshoot the challenges they collectively face, and make meaningful connections. Below is a partial list of the 2022 Women|Future Conference panels, sessions, and workshops. KEYNOTE: Dream Big & Chase It, by Rashmi Verma, Global Head of Diversity & Inclusion at HUGO BOSS Building Your Community of Mentors Cultivating an Inclusive Workplace: How Diversity Creates Opportunity FearLESS: Facing Adversity Generational Work Styles: Understanding the Old and the New ‘Shark Tank’ style pitch competition for newly founded woman-owned businesses Silencing Self Doubt: Overcoming Imposter Syndrome Strategic Storytelling: Advertising and PR Tactics for Your Business The Balancing Act: Self-Care and a Sustainable Work Life The Next Generation of Tech The Ever-changing World of Social Media The Evolution of Connection: In-person vs Virtual Networking The Snowball Effect: How Women-Led Businesses Create an Impact Think Like an Investor: How to Get the Funding You Deserve Turning Passion into Profit …and many more Browse the full agenda to explore the sessions occurring each day, including pre-conference sessions on November 7. The Women|Future Conference Senior Manager of Events, Ruslana Milikhiker, remarked on the transformation since the first annual Women|Future Conference; “In 2018, the Women|Future Conference was created to complement the highly successful Stevie® Awards for Women in Business competition to give high-achieving women professionals, thought leaders, and entrepreneurs a place to come together, share ideas, and network.” Nina Moore, the Director of Marketing & Communications, added: “Today, the Women|Future Conference serves women on a larger scale. Our conference tagline Cultivate Your Tomorrow was added in 2020. We chose this phrase because the conference encourages attendees to not only embrace their tomorrow, but to tackle career, personal, and life goals. The Women|Future Conference goes beyond the changing business landscape and focuses on current issues we all face as working women.” Conference Registration Tickets for the 2022 Women|Future Conference are available on the conference registration page. Groups of three (3) or more who register together get 10% savings with our group discount Student tickets are $39, with proof of a valid student ID To learn more about the conference, keynote, other speakers, and registration, visit www.womenfuturconference.com.
In the EU, women earn on average 14.1% per hour less than their male counterparts, which equals to almost two monthly salaries. This is why the European Commission marks November 10 as the symbolic day after which women basically work for free until the end of the year. Not only do women earn less, they receive lower pensions but tend to live 5 years longer than men on average. Let’s discuss the factors behind the gender pay gap, what must be done to achieve equal pay and how can women achieve financial independence and plan for life-changing events such as maternity leave, divorce, and retirement. Women Investing and Investing in Women Global crises disproportionately affect women and highlight their need for passive income and financial independence. Investing protects women’s savings from inflation and prepares them for retirement and unexpected life events like loss of work, divorce, or health complications. Female entrepreneurs account for 37% of global GDP. Support of women owned businesses has been linked to inclusive economic growth and it is a prerequisite of reaching the 2030 UN Sustainable development goals. How can we support female investors, empower female founders and how should wealth managers adapt to more women playing the game? Women, Value–Based Investing, and the Future of ESG Did you know that women prefer value and impact-based investment, with 52% of women opting to invest in companies that have a positive social or environmental impact compared to 44% of men, according to a study carried out by Cerulli Associates? Women care more about the values of the companies they invest in than the returns, often choosing to invest in the fields of health, education, and sustainability. How can we utilize women’s preference for value and impact-based investing to accelerate the transition to a more sustainable future and why is this transition not possible without them? Save the date: 10. november 2022. Registration form here.
Internet use has increased massively in the past two decades and today, there are more active users than ever. Social media websites, in particular, have become extremely popular, with Facebook being the third most visited site in 2021. Despite the recent rise of Instagram businesses and influencers, Facebook remains the most popular marketing platform – in 2021, 78% of its users said they have found new products and services on the platform according to data published by BroadbandSearch. TikTok, on the other hand, was the most downloaded app last year after launching internationally back in 2017. Social media is a big part of teenagers’ lives – new generations are now being born in a digital world where texting and sharing videos have largely replaced real-life (or irl, as gen z’s would say) communication. Tracking what interests young people and, particularly teenagers, when accessing the Internet is a fascinating, useful tool for spotting larger trends and even peeking into the future. Which social media platform will dominate in five or ten years? Where will people search for news, entertainment, and products? How will businesses adapt to the ever-changing digital landscape? Striving for answers, the team at TradingPedia examines a new report called Teens, Social Media and Technology by the Pew Research Center. It uncovers some interesting tendencies in young people’s preferences such as the fact that nearly all teens right now use YouTube whereas only 32% say they use Facebook. The biggest social media platforms among teens Before diving into the teen social media landscape we must understand the relevance of the Internet in today’s life. With a world population of 7.93 billion, 5.47 billion are Internet users according to data by Nielsen Online. This means that currently, 69% of all people on Earth have access to and use the Internet and from 2000 to 2022, the penetration rate increased by 1,416%. As of 2021, 4.48 billion people were on social media, with Facebook, YouTube, and WhatsApp each having more than 2 billion monthly active users. And while Facebook remains the top platform of choice among all age groups in the U.S. and worldwide, American teens prefer to spend their time mostly on YouTube. The website which launched in 2005 as a video streaming platform is now the most popular social media site among teenagers in the U.S., with 95% saying they ever used it and 19% admitting they visit it almost constantly. Next in popularity is TikTok (and its original Chinese version Douyin) which was released in 2016 but did not become globally available until 2018 when it merged with the Chinese social media platform Musical.ly. Of those surveyed by Pew Research Center, 67% say they have used the app and 16% say they use it almost constantly. The third most popular social media platform among U.S. teens is the video-sharing service Instagram, owned by Meta Platforms (known until recently as Facebook, Inc.). 62% of respondents are Instagram users, while 10% open or use it almost constantly. Photo sharing app Snapchat is following closely, with 59% of teens using it. 15% say they are constantly on it. Meanwhile, less than a third (32%) of all teens in the survey visit Facebook and only 2% are almost constantly on it. Note that researchers did not include Facebook’s Messenger as a separate platform in the survey, so it is likely that these percentages reflect the use of both Facebook and Messenger. Teens were also asked about several other social media platforms and the results show that 23% used Twitter, 20% used Twitch, 17% were on WhatsApp, 14% used Reddit and a mere 5% say they ever used Tumblr. Shift in popularity for social media platforms Things change quickly in the world of social media, even more so when it comes to young people and their preferences. Facebook was once the most used social media website among teenagers in the U.S. with 71% of them being on it in 2014. Data from a similar survey by Pew Research Center shows that in 2014-2015, Instagram was the second most popular after Facebook with 52% using it, while Snapchat was used by 41% of respondents. By 2018, when researchers conducted yet another survey, there was a significant shift in the social media landscape. Facebook’s popularity dropped and it had become the fourth most used platform with only 51% of teens using it. YouTube had replaced it – 85% of teenagers in the U.S. said they used the website. Another interesting fact is that two platforms from the 2014-2015 survey were not present in the 2018 statistics – Vine and Google+, which were discontinued. Boys vs Girls and other demographics There are several noticeable differences in the use of platforms between boys and girls, between white, black, and Hispanic. For instance, teen boys are more likely to use Twitch and Reddit. The video game live streaming service Twitch, which is owned by Amazon, is used by 26% of teen boys in the survey compared to only 13% of girls. 20% of boys used Reddit, a news aggregation and discussion website, and only 8% of girls said they ever used it. Teen girls, on the other hand, are more likely to use TikTok, Instagram, and Snapchat – 73%, 69%, and 64% respectively, compared to 60%, 55%, and 54% of boys. Interestingly, 81% of black teens were on TikTok, compared to 71% of Hispanic teens and only 62% of white teens. Black respondents were also the least likely to use Reddit – the website was used by 16% of white teens, 14% of Hispanic teens, and only 9% of black youngsters. For Hispanic teens, WhatsApp followed Facebook closely – 29% said they used it versus 19% of black and 10% of white teenagers. When looking at use by age, the most notable differences are for Tumblr, Twitter, Instagram, and Reddit – younger teens ages 13-14 were less likely to visit and use these platforms than teens ages 15-17. In the list below, there are three groups of teens divided by household income – low income (less than $30,000), middle income ($30,000-$74,999), and high income ($75,000 and up). How frequently do teens use social media? Since TikTok exploded in popularity in 2018 and 2019, there have been concerns that the app and the short video form of the content, may affect users’ attention spans and cause addiction. However, findings from the Pew Research Center report show that YouTube is used more frequently than TikTok, at least at first glance. Nearly three-quarters or 77% of teens visit YouTube at least once a day compared to 57% who say they are daily TikTok users. Daily (or more frequent) use of platforms drops to 51% for Snapchat, 49% for Instagram, and 18% for Facebook. Michaela Kralikova: I don’t like when people or brands play games But when we look at how many use TikTok and Snapchat at all, we can see that a larger share of users log in daily or more frequently. Around 86% of those who use the two platforms open them every day. And a quarter of users are on the apps almost constantly. This brings us to the next question – is it hard for teens to stop using social media? Unsurprisingly, the short answer is “Yes”, at least for half of the youngsters that took part in the survey. More than a third of teens or 36% say they spend too much time on social media, while 55% think they spend just the right time on these platforms. Another 8% believe their time on social media is “too little”. Researchers also asked them how hard it would be for them to quit social media and 54% of respondents said it would be hard – that would be “very hard” for 18% of teens and “somewhat hard” for 35%. For 20% of teens, this task would be “very easy”, while 26% found it “somewhat easy”. Moreover, 78% of teens who say they spend too much time on social media admit it would be hard for them to quit it, with 29% describing it as “very hard”. Methodology The analysis of teens’ social media use was published by Pew Research Center in August 2022 and focused on U.S. youngsters aged 13 to 17. The survey was conducted online by Ipsos from April 14 to May 4, 2022, and included 1,316 U.S. teens and their parents. The respondents were divided by age, gender, race/ethnicity, household income, metropolitan status, and more. Of the total unweighted sample size of 1,316, 686 were boys versus 596 girls, 504 were ages 13-14, and 812 were ages 15-17. 599 were white, 407 were Hispanic, and 138 were black. Most teens (702) lived in suburban areas, 321 lived in rural regions of the country, and another 287 teens lived in urban surroundings. Find out full report here.