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The Josh Bersin Company
The Wakeup Call To Colleges: A Growing "Worthlessness" Of Degrees
Feb 24, 2024
A revealing report shows many college graduates are underemployed, highlighting a disconnect between education and job market needs. As skills-based hiring gains traction, students are increasingly shunning liberal arts for trade-focused degrees. The discussion emphasizes the necessity for colleges to adapt, promote mentorship, and incorporate real-world skills. It also underscores the importance of resilience in navigating diverse career paths as conventional degrees lose their luster. This situation signals a critical wake-up call for higher education institutions.
18:10
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Quick takeaways
- A significant portion of college graduates is underemployed, indicating a mismatch between degrees acquired and job market demands.
- Despite initial underemployment challenges, career growth is possible through diverse experiences and skills development over time.
Deep dives
Underemployment of College Graduates
Recent research indicates that a significant number of college graduates, roughly half from the 2012 to 2021 period, are experiencing underemployment, often earning less than what they would have made without a degree. While studies show that on average college graduates earn 20 to 25% more annually and accumulate more wealth over a lifetime compared to high school graduates, the current landscape raises questions about the value of a degree. Many graduates from liberal arts programs struggle to find high-paying positions, leading to the perception that practical degrees in fields like software engineering or sciences offer better returns. This situation underscores a disconnect between educational institutions and the evolving needs of the job market, presenting a challenge for graduates navigating their early careers.
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