More than two-thirds of teenagers know what career they want to pursue and 36 per cent are confident they will be able to walk into their dream job.

But on pay young people are less optimistic, expecting to earn an average of just £12,000 a year when they start full-time work, says the report by Abbey National Youth Banking.

Only 16 per cent of 15 to 19-year-olds think they will earn more than £20,000, while a pessimistic seven per cent expect to be paid less then £5,000 a year.