Young people are set to turn their backs on slave-driving bosses and dull jobs even if they are well paid in a bid to enjoy working life.

More than half of a student panel said that they would take a low paid job which they loved and only one member said that they would consider working for a large multinational corporation at a seminar aimed at revealing how ‘Generation Y’ is set to change business, impact the economy and shape the future.

Onrec reports Oxford consultancy iOpener held a seminar called ‘Kids Today, Leaders Tomorrow’ and found Generation Y, usually defined as anyone aged between 11 to 25, believe their parents’ generation worked too hard.

The panel claimed a work-life balance and the ability to start a family without one’s career being affected were important factors when choosing their career paths.

Co-founder and partner of iOpener, Jessica Pryce-Jones said: "What concerns, motivates and inspires our next generation will be central to how businesses organise themselves in the future.

"It is clear, however, that many challenges lie ahead – not just in how businesses look to accommodate Generation Y but in how Generation Y adapt to prevailing business drivers.

"It was also interesting to see how little attraction the big multinational brand has to tomorrow’s leaders and how money is not the main motivation. What is clear, however, is that with the progress in technology and the current economic climate, today’s generation are entering a very different workforce from their parents and Generation Y is entering it with remarkable optimism. It will be a fascinating journey with a clear onus on the employer to ensure that this talented generation is engaged and developed to their full potential."

The seminar brought together an international panel of 18-year-olds from China, Pakistan, Russia, Sweden, South Africa, the United Kingdom, and the United States, chaired by BBC World News anchor Nisha Pillai to an audience of senior business and industry leaders.