Exploring the link between financial literacy and career engagement among students of Russian business schools

Business schools seek to promote financial literacy and career engagement among undergraduate and graduate students, equipping them with the skills to navigate real-world financial challenges effectively and take the initiative in their career development. This improves students’ future employability and long-term professional success, while also enhancing the reputations of business schools and their positions in international and domestic rankings. Such rankings increasingly rely on graduate employability, career readiness and the inclusion of financial education in curricula, which aligns with market demands and government education strategies. This study investigates the relationship between financial literacy and career engagement among business school students. Financial literacy is assessed using the Financial Wellbeing questionnaire, while proactive career behavior is measured using the Career Engagement scale. Regression analysis, controlling for gender, region and academic year, reveals that financial literacy significantly predicts career success. These findings provide policymakers and educators with empirical evidence that, beyond improving financial outcomes, cultivating financial literacy from a behavioral perspective within business education fosters greater career engagement. This dual focus is in line with Russia’s and other BRICS countries’ strategic goals of developing skilled, adaptable professionals who can contribute to sustained economic growth.