Journal of Innovation & Knowledge 8 (2023) 100338

Journal of Innovation
& Knowledge
ht t p s: // w w w . j our na ls .e l se vi e r .c om /j ou r na l -o f - in no va t i on -a n d- kn owl e dg e

Factors affecting students’ career choice in economics majors in the

COVID-19 post-pandemic period: A case study of a private university in
Vietnam
Trong Luan Nguyena,*, Huu Tri Nguyenb, Ngoc Han Nguyenb, Dai Loi Nguyenb,
Thi Thu Dao Nguyenb, Duy Linh Leb
a
Lecturer, Faculty of Business Administration, FPT University, Can Tho Campus, Vietnam
b
Faculty of Business Administration, FPT Can Tho University, Can Tho City, Vietnam

A R T I C L E I N F O A B S T R A C T

Article History: The requirement for quantity and quality of human resources, especially occupations in the economics field,
Received 17 January 2022 has played a significant role in recovering and improving the COVID-19 pandemic economic situation in Viet-
Accepted 22 January 2023 nam. Therefore, this encouraged economics majors to attract a large number of students to enrol in 2021.
Available online 24 January 2023
This study aims to determine the factors affecting the career choices of economic students in Vietnam. The
research focuses on analysing six factors to determine the relationship between variables that help explain
Keywords:
students’ compatibility and their chosen majors. A survey questionnaire using simple random sampling col-
Career
lected 309 data points from economics students at a private university in Vietnam. Methodologies such as
Economics
Student
Cronbach’s Alpha, exploratory factor analysis, confirmatory factor analysis, regression, and structural equa-
Influencer tion modelling were employed using SPSS and Amos software to check the correlation between factors and
COVID-19 draw conclusions about factors affecting students’ career choices. The results revealed that influencers, inter-
ests, financial resources and career opportunities were critical elements that influenced students’ decisions
in choosing a major. Interest (to pursue passion) was considered by students in choosing a major - which
could also encourage them to develop their own capabilities. Additionally, the data proved that most job
selections were based on future employability; therefore, career opportunities had the most positive impact
on students’ decisions. The findings of this study identify determinants of students’ choice in economics
majors and their relationships and can improve students’ awareness and future orientation before deciding
to choose a major. Moreover, this study provides valuable data for universities to formulate and develop
strategies to attract students, such as career consulting.
© 2023 The Author(s). Published by Elsevier España, S.L.U. on behalf of Journal of Innovation & Knowledge.
This is an open access article under the CC BY-NC-ND license
(http://creativecommons.org/licenses/by-nc-nd/4.0/)

Introduction economic recovery following the pandemic. According to the Viet-

nam Ministry of Labour − Invalids and Social Affairs, 2021 research,
The COVID-19 pandemic has significantly impacted the Vietnam- in the first quarter of 2021, a sample of 23,928 turns of corporations
ese economy. Economic growth slowed down to 2.9% by 2020, affect- publishing job opportunities via the internet with the necessary
ing approximately 32 million people. Of these, 69% suffered a number of 148,354 employees. Occupations expected to have the
reduction in income, 40% had to cut their working hours, and 14% most recruits are business, sales, marketing, customer service,
were forced to quit their jobs or be fired. The provision of human finance, and accounting. Furthermore, companies desire highly
resources in the economic sector is critical for solving challenges of skilled employees with strong knowledge who can adapt to ongoing
changes in the workplace. This confirms that economics will continue
to be a thriving and sought-after profession for many years. Conse-
* Corresponding author at: 600 Nguyen Van Cu Street, An Binh Ward, Ninh Kieu Dis- quently, many students choose economics as their major in college.
trict, Can Tho City, 94100, Vietnam. With almost 1.3 million students seeking to pursue business and
E-mail addresses: [email protected] (T.L. Nguyen), [email protected]
management, these two fields have majors with the highest number
(H.T. Nguyen), [email protected] (N.H. Nguyen), [email protected].
vn (D.L. Nguyen), [email protected] (T.T.D. Nguyen), LinhLDCS150716@fpt. of Vietnamese registered students in 2021. Ahmed, Shaif and Ahmad
edu.vn (D.L. Le). (2017), Aryani and Umar (2020), Kazi and Akhlaq (2017), and Ray,

https://doi.org/10.1016/j.jik.2023.100338
2444-569X/© 2023 The Author(s). Published by Elsevier España, S.L.U. on behalf of Journal of Innovation & Knowledge. This is an open access article under the CC BY-NC-ND license
(http://creativecommons.org/licenses/by-nc-nd/4.0/)
T.L. Nguyen, H.T. Nguyen, N.H. Nguyen et al. Journal of Innovation & Knowledge 8 (2023) 100338

Bala, Dasgupta and Srivastava (2020) carried out their studies in 2018 claimed that 5% of United Kingdom (UK) teenagers believe that
order to learn more about students’ career decisions as well as the career planning from parents is beneficial in deciding on a major, and
factors that impact students’ career choices. No prior research has only 1.6% of Latvian respondents believe that job advice, particularly
analysed the determinants of students’ career choices with econom- from professionals, helps decide on a major. The following hypothesis
ics as a major at a private university, Vietnam. Therefore, this study is developed to assess whether influencers (INL) impact a private uni-
has three main purposes: 1) to identify the factors influencing stu- versity students’ decisions to major in economics:
dents’ career choices by choosing economics majors at a private uni- H1. Influencers impact students’ career decisions in economics
versity; 2) the connections between variables will help explain majors.
students’ adaptability and appropriateness when selecting their
major; and 3) to be a crucial database to review when deciding
whether to study economics at a private university, and offer policy Interest (INT)
and strategic developments in the future to attract students. Interest (INT) is an indispensable premise in selecting a career and
is described as ‘an emotion that arouses attention to, curiosity about,
Literature review and concern’ (Akbulut & Looney, 2007; Mirzanaveedshahzad, Tak-
dees & Ahmed, 2018); these authors concluded that students choose
Theoretical perspectives on career choice their careers based on their interests. Alexander et al. (2011) showed
that student interest in information technology as a subject influ-
The expectation theory model is commonly used to help forecast enced their career choices. Ahmed et al. (2017) asserted that ‘interest
people’s opinions and career options (Mitchell & Beach, 1976). As in the subject’ is the most important factor in the career choice of
shown in the expectation theory, social determinants include paren- business students. Suutari (2003) supposed that there is a close rela-
tal influence, friends’ and teachers’ impact, social position, and eco- tion between interest and decision-making in choosing a career.
nomic factors, such as employment opportunity, wage amount, and Moreover, individual interest is a key factor in students’ career
work-life balance (Baliyan & Baliyan, 2016). In the Hospitality Depart- choices (Edwards & Quinter, 2011).
ment of a college in Guangzhou City, China, many students choose H2. Interest impacts students’ career decisions in economics
their careers without being influenced by traditional values or their majors.
family members. Students’ abilities and career aspirations are the
most important factors influencing their career decisions, followed
by traditional and cultural values, career guidance, parental support, Financial resources (FIN)
and external consultation (Qiu, Dooley & Palkar, 2017). Sources of financial support for students are factors that influence
Vu (2020) studied the factors affecting the career choices of tour- career choice. Ahmed et al. (2017) found that career choice is affected
ism students in Da Nang, Vietnam. The author suggested that the by the level of financial resources (FIN). According to Reid (2017),
main factors affecting students’ career choices include belief in self- family income is closely related to students’ decision to choose a
efficacy, career opportunities, culture, intellect, and the influence of career. The use of FIN at their discretion significantly contributes to
others. an individual’s career choices (Kerka, 2000). Limited FIN negatively
Kazi and Akhlaq (2017) found that young people are easily affect students’ decision-making in choosing a career (USHURHE,
impressed, swayed by their peers, and influenced by the media when 2014). According to Mirzanaveedshahzad et al. (2018), financial fac-
choosing a career. They emphasise the role of teachers to motivate tors have a strong impact on career choices.
and inspire students. The working environment is also a factor that H3. Financial resources impact students’ career decisions in eco-
attracts students toward a career. Research has also shown that stu- nomics majors.
dents are not influenced by their parents’ occupations.
According to Kaygin and Gulluce (2013), a student’s career choice
is influenced by a variety of contextual and organizational variables. Self-Capacity (CAP)
However, Gati et al. (2011) suggested that emotional and personality Alexander et al. (2011) projected that there was a relationship
factors may make career decisions challenging for all students. between self-efficacy and career choice, therefore, the capability to
External and internal factors can influence students’ career make conceivable careers. Furthermore, it was ascertained that stu-
choices (Hewitt, 2010). Although some students choose careers solely dents’ apparent self-efficacy affected their career advantages, capaci-
based on their desires or simply because it pays more, familial factors ties, objectives, and certainty in scanning for a desired career. Taylor
influence many other students’ career choices. and Popma (1990) inferred that career investigation capacities were
anticipated by the amount of general self-efficacy, whereas Bergeron
Factors affecting the career choice of students and Romano (1994) mentioned that self-efficacy convictions impact
the choice of majors and career decisions of undergraduate students
Influencers (INL) (Atta, Akhter, Shujja & Shujaat, 2013). The research findings
Most young adults appear to choose vocations based on the advice highlighted the significance of the concept of self-efficacy and
of their parents, instructors, and family elders (Ayaz, Khan & Khan, emphasized that students developed their self-efficacy according to
2016). A few studies have shown that parents impact their children’s their characteristics and occupations (Ghuangpeng, 2011).
career choices (Camarero-Figuerola, Duen ~ as & Renta-Davids, 2020; The search for or exploration of career information is an attempt
Fouad, Kim, Ghosh, Chang & Figueiredo, 2016; Kazi & Akhlaq, 2017). to obtain information about one’s self-characteristics to achieve
Contact between parents and children influences their professional appropriate career goals (Zhang & Huang, 2018). Most Vocational
choices (Adekeye, Adeusi, Ahmadu & Okojide, 2017). In addition, High School (VHS) students are not ready to enter the work world
many students select a university major based on their friends’ rec- because of their low ability to make career decisions and choice of
ommendations (Istiqomah, Hariani & Afian, 2018); family and peers work outside their field of ability (Karacay, 2018). Self-efficacy in
also have an important influence on determining students’ major career decision-making will be conceptualised because of the psycho-
choices (Kumara, Bhakti, Astuti, Ghiffari, & Ammattulloh, 2019). logical motivation aspect that is necessary for career decision-making
According to Killam, Degges-White and Michel (2016), approximately (Cordeiro, 2015; Schunk & Usher, 2019).
18.46% of those surveyed agreed that their parents’ opinions influ- H4. Self-capacity impacts students’ career decisions in economics
enced their profession. However, Bikse, Lusena, Libkovska, & Rivza, majors.
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T.L. Nguyen, H.T. Nguyen, N.H. Nguyen et al. Journal of Innovation & Knowledge 8 (2023) 100338

Career opportunities (OPP) the respondents and solve them in a fair amount of time and at a rea-
Students’ perceptions regarding job opportunities may influence sonable cost. Before surveying the students, a survey questionnaire
their field selection. The wider the field offers job opportunities, the was created and distributed to ten school experts for completion and
more likely students are to choose that field (Uyar, Gungormus & review. Google Forms was the platform used in this study. After col-
Kuzey, 2011). According to Ahmed et al. (2017), numerous influences lecting data from the surveyors, they were encrypted in Microsoft
exist in an individual’s job selection, with the strongest influence Excel and analysed. Using Google Forms to create an online question-
being the ability to obtain a respected social position and income and naire is both convenient and rapid. Questionnaires help to collect
make a difference in society. These influences shape the future of necessary and reliable information on relevant topics in social studies
society, as an individual’s career choice decisions are important to (Taherdoost, 2016, 2018).
society. However, Ahmed et al. (2017) studied business students and As shown in Table 7, the questionnaire is divided into three sec-
found that ease in grades, financial outcomes, and future job opportu- tions: Section A gathers respondents’ demographic data, such as gen-
nities was less related or had a minor impact on students’ decisions. der, age, school year, and income; Section B discusses variables that
H5. Career opportunities impact students’ career decisions influence students’ choice of economics major (INL, INT, FIN, CAP,
regarding economics majors. OPP, and CUL); and Section C offers statements to measure the
dependent variable. Sections B and C require respondents to respond
to questions on a 5-point Likert scale (Awang, Afthanorhan & Mamat,
Culture (CUL)
2015), which is intended to measure target respondents’ views of
Tradition and cultural value eclipsed its importance in influencing
variables influencing their choice of economics majors at university.
students’ decisions about their future occupations. Most respondents
The scale ranges from 1 to 5, with 1 being ‘strongly disagree’ and 5
did not concur with the statement, ‘I chose hospitality as a major
being ‘strongly agree’. The basic and optimal psychological measure-
because of traditional values’(Qiu et al., 2017). Vu (2020) indicated
ment tool used in educational and social studies is usually the Likert
that amongst the key factors that affect the career choice of students
scale (Joshi, Kale, Chandel & Pal, 2015). A Likert scale is typically used
in tourism, cultural factors also affect career choice. Additionally,
as the data are simple to code (Colosi, 2006). Pilot research was con-
Tear et al. (2020) demonstrated that cultural perceptions are affected
ducted in an environment with features comparable to those under
by the interaction of national values for power distance and power
examination to ensure that the questions were not vague.
conferred by positions within a hierarchy. Alves and Gama (2020)
proved that a culture of commitment is considered a ‘common factor’
for boosting economic and financial performance, alongside concepts
Sample
such as perpetuity and the conservation of the family’s heritage and
assets.
To generalise the findings, a representative sample was chosen
H6. Culture impacts students’ career decisions in economics
because it is challenging to include all groups in a study. To deter-
majors.
mine the specimen size, the expert used a table in Krejcie and Mor-
The conceptual framework of this study is depicted in Fig. 1.
gan (1996). According to Krejcie and Morgan’s table, the targeted
sample size should be 380, given a population size of 43,560. Owing
Research methods and materials to the known sample size and equal likelihood that any member of
the population will be included in the sample, the researcher chose
Research design simple random sampling for this study.
Data were collected from a survey in the fourth quarter of 2021 at
This study employed quantitative data collection methods and a private university, Vietnam. Of a total of 800 students from the Fac-
methodologies. According to Neuman (2015), such a design is simple ulty of Business, 330 students participated in this survey, represent-
and cost-effective. This study only considered variables at a single ing a sampling rate of more than 40% of the population. We used
time point, making it appropriate for the researcher’s goal. Likewise, simple random sampling because the survey participants were geo-
because it provided a more accurate picture of the respondents’ opin- graphically close to each other and had similar characteristics. Any
ions, a survey was selected as the primary study design (Sekaran & individual can be selected from the population by using a random
Bougie, 2016). This method was applied to gather all the results from table or lottery. The advantages of this method are that it is simple,

Fig. 1. Research model.

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T.L. Nguyen, H.T. Nguyen, N.H. Nguyen et al. Journal of Innovation & Knowledge 8 (2023) 100338

fast, and has a sufficient analytical basis. However, the limitation of Table 2
simple random sampling is that the sampling error is large and less Exploratory factor analysis

accurate than that for other sampling methods of the same size. After Constructs Items Factor Loadings CR AVE
removing invalid votes, the remaining 309 votes were deemed reli-
Influencers (INL) 2 0.57 - 0.78 0.74 0.60
able for analysis.
Interest (INT) 4 0.60 - 0.88 0.80 0.50
Financial Resources (FIN) 4 0.77 - 0.85 0.83 0.55
Data analysis technique
Self-Capacity (CAP) 5 0.64 - 0.84 0.86 0.56
Career Opportunities (OPP) 5 0.65 - 0.88 0.88 0.59
Quantitative analysis was performed using SPSS 25.0. This soft- Culture (CUL) 2 0.73 - 0.84 0.72 0.58
ware was used to synthesise data on the frequency, statistical Note: CR = Composite Reliability; AVE = Average Variance Extracted.
description, and impact of factors on students’ career choices while
majoring in economics. Additionally, we used Cronbach’s Alpha to
test reliability of the factors, with a cut-off point of 0.60. Moreover,
Eigenvalue criterion was greater than 1, and the cumulative variance
exploratory factor analysis (EFA) was used to eliminate inappropriate
of 63.83% was greater than 50%, indicating that six factors accounted
variables, reduce observed variables, and shorten the model. Next,
for 63.83% of the variation in the data of the 23 observed variables.
we ran a regression model to evaluate and draw conclusions about
The KMO coefficient of the study was 0.85 > 0.5, which was sufficient
the factors affecting the choice of economics students at a private
for factor analysis to be appropriate. Bartlett’s test was statistically
university. The Amos software used to run a confirmatory factor anal-
significant at the Sig level. = 0.000 < 0.05, indicating that the
ysis (CFA) which provides convergent and discriminant validity. Con-
observed variables were correlated with the factor. The factor load-
vergent validity indicates strong-weak relationships, whereas
ings were greater than 0.5, indicating factors of practical significance.
discriminant validity indicates no strong relationship. Based on the
The composite reliability (CR) of each face in this model scale was
CFA, we can close the gap between hypothesis and detection. Fur-
greater than 0.7, strengthening the feasibility of the study. The aver-
thermore, structural equation modelling (SEM) is a method for esti-
age variance extracted (AVE) value of the variables to measure the
mating and evaluating the linear model between the variables
convergence validity of the model was higher than the standard AVE
observed in the research paper and other variables. Thereafter, theo-
ratio of 0.5. As the six factors satisfied the above conditions, the dis-
ries were identified and improved by the SEM model.
criminant values that were considered appropriate are presented in
Results Table 2.

Reliability test Regression

Cronbach’s Alpha was used to test the reliability and validity of After testing the reliability of the factors using the above methods,
the factors affecting students’ career choices in economic majors. we found six significant factors in the study. Subsequently, we devel-
Cronbach’s Alpha coefficient should be larger than or equal to 0.60, oped a multiple regression model as follows:
and the adjusted total correlation value should be greater than or Y= b0 + b1INL+ b2INT + b3FIN + b4CAP + b5OPP + b6CUL
equal to 0.3 (George & Mallery, 2019). As presented in Table 1, Cron- Therein:
bach’s Alpha values for all factors are greater than 0.7. The correlation + Dependent variable: Students’ choice of economics major (Y).
coefficients of all variables were larger than 0.3, indicating that these + Independent variable: influencers (INL), interest (INT), financial
variables met the requirements. The results satisfied the standard resources (FIN), self-capacity (CAP), career opportunities (OPP), and
Cronbach’s Alpha performance of the analysis; therefore, the factors culture (CUL).
in the study were reliable and were retained for further analysis. The regression results in Tables 3 and 4 show that the adjusted R-
squared = 0.54, F-test in ANOVA had a Sig level. = 0.000. Thus, the
Exploratory factor analysis regression model is suitable, and these factors can explain 54.0% of
the variation in the dependent variable. INL, INT, FIN, CAP, OPP, and
EFA was used to test the relationship between the variables in all CUL are all significant in the study because of the Sig coefficient <
groups of factors and to remove insignificant variables. The 0.05. The factor model affecting students’ career choices in economic
majors has six factors with specific equations:
Table 1
Y = 1.37 - 0.08 (INL) + 0.27 (INT) - 0.10 (FIN) + 0.14 (CAP) + 0.39
The result of Cronbach’s alpha scale
(OPP) + 0.10 (CUL)
Constructions Code Items Cronbach’s Alpha

Influencers INL 5 0.75 Confirmatory factor analysis (CFA)

Interest INT 4 0.80
Financial Resources FIN 4 0.83 After using SPSS for EFA, we used Amos for CFA. The variables
Self-Capacity CAP 5 0.86
INL1, INL2, INL4, and CUL4 were removed because they had a signifi-
Career Opportunities OPP 5 0.88
Culture CUL 3 0.70 cance level greater than 0.05, and the variable was not suitable or sig-
nificant. With the six indicators shown in Table 5, the results are

Table 3
The examination of the explanatory level of the model (Model Summary)

Model Summaryb

Model R R Square Adjusted R Square Std. Error of the Estimate Change Statistics Durbin-Watson

R Square Change F Change df1 df2 Sig. F Change

1 .74a .55 .54 .43 .55 61.36 6 302 .000 1.99

a
Predictors: (Constant), CUL, INT, FIN, INL, OPP, CAP.
b
Dependent Variable: SCC.

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T.L. Nguyen, H.T. Nguyen, N.H. Nguyen et al. Journal of Innovation & Knowledge 8 (2023) 100338

Table 4 2010). This is a necessary condition to continue performing the SEM

The result of the partial correlative appraisal of regression coefficients model.
Coefficientsa

Model Unstandardized Coefficients Standardized Coefficients

Structural equation modelling (SEM)

B Std. Error Beta t Sig. Using the SEM model, we obtained the relationship between the
1 (Constant) 1.37 .24 5.73 .000 independent and dependent variables. The basic indicators are
INL 0.08 .03 0.12 3.03 .003 shown in Fig. 2 and Table 6. The Chi-square/df value was 1.83, which
INT .27 .04 .32 6.89 .000 was less than 2. The goodness of fit index (GFI) was 0.91, which is
FIN 0.10 .03 0.13 3.26 .001
CAP .14 .05 .15 2.82 .005
greater than 0.9. The comparative fit index (CFI) value was 0.93,
OPP .39 .05 .42 8.09 .000 greater than 0.9, and the final value was a root mean square error of
CUL .10 .03 .12 3.06 .002 approximation (RMSEA) of 0.05, which was less than 0.08. During the
a
Dependent Variable: SCC. data run, two out of six independent variables—CAP and CUL—had
Sig values greater than 0.005, so we excluded them from the model.
The remaining four variables, OPP, FIN, INL, and INT, all have Sig val-
Table 5 ues of *** (AMOS symbol *** is sig equivalent to 0.000), less than
CFA measurement model fit indices 0.005. This result proves that the independent variables OPP, FIN,
INL, and INT have strong impacts on the dependent variable (SCC).
Observed value Ideal threshold Result

Chi-square/df 1.91 ≤2.00 Good

GFI 0.90 ≥0.90 Good
Discussion
CFI 0.94 ≥0.90 Good
TLI 0.93 ≥0.90 Good Previous research has highlighted the importance of career
RMSEA 0.05 ≤0.08 Good choices and their lasting impact on students’ careers and lives. Many
PCLOSE 0.19 ≥0.05 Good
universities show that many students choose to drop out of school
because they initially chose the wrong major. Empirical studies have
consistent and satisfactory with the ideal threshold of the CFA model. also shown that students’ career choices are influenced by various
The Chi-square/df was good with a value of 1.91, which was less than factors, such as socio-economic, political, and demographic factors,
2. The goodness of fit index (GFI) was 0.90, which is equal to the ideal which vary from country to country. We used SEM to analyse survey
threshold. The comparative fit index (CFI) value was 0.94, greater data to identify factors affecting students’ career choices at a private
than 0.9, and the final value was a root mean square error of approxi- university, which consist of INL, INT, FIN, CAP, OPP, and CUL.
mation (RMSEA) of 0.05, which was less than 0.08. The model shows The findings suggest that INL, such as family, friends, and teachers,
a good fit, and all scales are acceptable (Hair, Black, Babin & Anderson, are factors that influence economics students’ decision-making in

Fig. 2. Direct and Indirect effects on students’ career choice in Economics.

Notes: CMIN/DF =1.833, GFI=0.911 CFI=0.953, RMSEA=0.052 and TLI=0.944. ***p<0.001.

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T.L. Nguyen, H.T. Nguyen, N.H. Nguyen et al. Journal of Innovation & Knowledge 8 (2023) 100338

Table 6
Results of the integrating model

Explanatory variables Significant results

H1 Influencers impact the career choice of students majoring in economics. P = 0.000

H2 Interest impacts the career choice of students majoring in economics. P = 0.000
H3 Financial Resources impact the career choice of students majoring in Economics. P = 0.000
H5 Career Opportunities impact the career choice of students majoring in Economics. P = 0.000
Note: ***, p-value < 0.001. Significant at the 0.05 level.

choosing a career. Malik and Hussain (2020)) state that parental edu- motivated them to participate more in activities in which they were
cation significantly impacts college students’ career choices. Parents personally interested.
who are regularly present in their children’s daily lives will increase FIN significantly impact career choice, which was also accepted.
their confidence in choosing the best profession in a variety of excit- The limited financial resources available to students negatively
ing career fields. As pointed out by Koech et al. (2016), parents can impact their career choices (USHURHE, 2014). Several studies have
influence their children’s career development by actively reinforcing shown a positive association between financial outcomes and career
or punishing certain behaviours, which may encourage or discourage choices. The issue widely discussed in the research is the financial dif-
particular interests or behaviours associated with certain abilities. ficulties faced by individuals, which hinder their career choice deci-
This means that the influencer factor plays an important role in a stu- sion-making process (Ahmed et al., 2017). In this research, many
dent’s career choices. They can provide advice or ask for the support students had average incomes, so they considered choosing a career
of consultants to help students choose a career that best suits their with affordable tuition that their family could afford.
abilities and interests. Most students also trust advisors’ advice in the CAP in choosing a career is indispensable for students. Students
decision-making process. should consider taking subject options congruent with the aptitudes
This study proves that INT affects the career choice of students at a and abilities that they identify (Falaye & Adams, 2008). According to
private university. It plays an important role in students’ career Bandura (1986), self-efficacy is a predictor of career choices. Statistics
choices and success (Uyar et al., 2011). When students study a major from universities show that many students drop out even though they
they love, they will experience passion for it and for learning. This are in their 2nd or 3rd year of university because they felt that their cur-
factor is critical to stimulating ability and developing the capacity to rent major was no longer suitable for their abilities, felt discouraged,
help students meet job requirements. In addition, students’ interests and wanted to give up. Some students have chosen to quit their majors

Table 7
Survey questions

Factors Code Items 1* 2* 3* 4* 5*

Influencers INL1 My parents influence my decision to choose an economic major

INL2 I have a brother/sister who also majored in economics
INL3 Relatives give me advice on choosing a major
INL4 Most of my friends are studying economics
INL5 My teachers advise me to study economics.
INL6 I have attended career counselling sessions at several universities.
Interest INT1 I am passionate about economic-related industries
INT2 I feel satisfied with the industry that I am studying
INT3 If I have to choose again, I will still study economics
INT4 The interesting factor is one of the important factors for me to choose a career
Financial FIN1 My tuition is mainly supported by my family
Resources FIN2 Having financial resources to support my studies makes me feel confident
FIN3 A bank loan can support my studies in times of need
FIN4 Financial resources is one of the important factors affecting my career choice
Self-Capacity CAP1 The major I am studying is a choice based on my ability
CAP2 I am confident that my skills will be relevant to my current major
CAP3 I easily apply the knowledge I have learned to practice
CAP4 I have a creative, logical mind and always want to find new ideas
CAP5 I usually take the initiative at work
CAP6 I think communication skills are essential in the working environment
CAP7 I always try to complete the assigned work well
CAP8 I love to explore and learn good things from other people and everything around
Career OPP1 The demand for human resources in the major I am studying is quite high
Opportunities OPP2 The major I am studying will have a good starting salary in the future
OPP3 The major I am studying has a safe working environment
OPP4 I will work in a dynamic and professional environment in the future with my major
OPP5 With the major I am studying, I can take on many positions in many different fields
OPP6 I will get a good image or status when I go to work with my major
OPP7 The major I’m studying will make it easier for me to get promoted and develop
Culture CUL1 I often learn about the cultural traditions of the place where I study before deciding to attend
CUL2 My career decisions are influenced by the cultural environment in which I study
CUL3 I chose the major because of the school’s long tradition of training
CUL4 I chose to study my profession because it is related to the traditional family work
CUL5 The culture of the discipline helps me easily integrate with the people around me when I go to work
CUL6 The place where I am studying is extremely civilized and polite
CUL7 My future career in my major requires understanding the workplace culture
* 1: Strongly Disagree; *2: Disagree; *3: Neutral; *4: Agree; *5: Strongly Agree.

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T.L. Nguyen, H.T. Nguyen, N.H. Nguyen et al. Journal of Innovation & Knowledge 8 (2023) 100338

and start studying another major, making them more interested in this study has certain limitations as follows. First, this study was only
learning and matching their abilities. In this study, self capacity posi- conducted at a private university. Thus, the environment may affect
tively influenced students’ career choices. If students do not major in the outcome as data from other universities may vary. Furthermore,
the right field, they will waste a lot of time, money, and effort. because participation in the survey was entirely voluntary, the sam-
As expected, OPP shows that if the economy develops well, career ple did not reflect the full student population, and the number of
opportunities for students will increase. Previous research has found students who participated was small. Lastly, respondents were
that wages, security, and future employability are important consid- restricted to the selection variables specified in the survey, with no
erations. Rettenmayer, Berry and Ellis (2007) assumed that high option to express any other components that they thought to be rele-
wages and job security were the most valued and critical aspects of vant to their field of study choice.
job readiness. Furthermore, Thai art students consider salary and Despite its shortcomings, this research created a model that
wages to be the most important aspects of their career decision-mak- shows the elements driving students’ economics sector choices at a
ing processes (Ghuangpeng, 2011). Career opportunities are consid- private university in Vietnam. It gives students a better understand-
ered an influential factor in the career choices of students at a private ing of how they choose the field they wish to follow. Similarly, under-
university. Career opportunities for students will be high, and they standing these affected variables might help in the development of
will have more job options if the economic situation is good. On the tools and strategies to attract university students.
contrary, when the economic situation is worse, students’ career
choices will be less and more limited. Job security and availability
seem to be frequent factors in previous studies. Reference
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