For decades, a college education was the “golden ticket” to the dream of high earnings, a comfortable lifestyle, and better job security. But in the new normal, where the demand for skills has superseded the need to have an education, what is the relevance of college degrees in today’s world?
Is a degree important for success? You may ask. Especially when the leaders you follow, Steve Jobs, Mark Zuckerberg, and Bill Gates have got successful without one.
Companies have long used college degrees as a proxy for job competency and career readiness. But that never was a surety of anyone’s candidature. Moreover, after the COVID-19 pandemic, the fight over labor, and the onset of the era of ‘The Great Resignation‘, employers are now increasingly cognizant of the need to think differently about how to best attract – and retain – employees, reconsidering their prerequisites for successful hires.
Google, Netflix, Tesla, IBM, Penguin Random House, Bank of America, Hilton, and Apple are a few of the renowned names to have started the trend which others are following. These organizations assess skills and talent over having a college degree.
In that case, does it make sense to spend all the time and huge amounts of money going through a college education? What is the importance of college degrees in today’s world?
Let’s find out, addressing the points from every perspective.
POV 1: Yes, There is a Huge Importance of College Degrees in Today’s World
The importance of a college education transcends beyond what is taught and what you learn. How?
College is an experience, a playground to pick your battles and learn from them, a step towards exploring yourself, making new friends, and developing skills beyond what a book can teach. From awareness of people, varied cultures, and their mentalities to adapting oneself to them, the college provides holistic learning. You get to be in a circle of professors, and fellow students, join social clubs, explore your interests and strengths and make something out of it in the future.
Many of you may also get to stay in hostels, away from your homes for the first time, enabling you to be self-sufficient and learn to manage yourself, mentally, and financially. This is meant to have a positive impact on the quality of your life.
Not just from personal aspects, but professionally too. With free career counseling, ongoing competitions, summits, and job fairs, colleges provide opportunities for you to expand your professional network, make connections, explore varied skill sets and get in touch with your prospective employers.
With each additional degree, you may increase your earning potential and job security. And some employers do agree with this as they feel that completing 3-4 years of a college degree demonstrates a candidate’s commitment, and hard work, which works well in favor of an entry-level candidate.
On the other hand, given the economic and employment environment, many question the relevance of college degrees in today’s world.
POV 2: No, There is Not That Much Importance of College Degrees in Today’s World
Experiences during the pandemic have raised new questions and concerns among parents and students. With remote and hybrid learning, the importance of college education has significantly dropped in today’s time. Many students relegated to their dorm rooms or homes, majorly teaching themselves, have questioned the requirement to pay the same fee they would pay for in-person learning environments.
There is no denying that the pandemic has upended all aspects of the education – environment, and in the new normal online learning is more prevalent than ever before. College education was costly even before but after the pandemic, it has become severe, and many students and their parents are burdened with astronomical student loan debt. Under such circumstances, is degree important for success?
It is also not that college degrees guarantee better or high-income jobs. Many students with college degrees were laid off as well during the pandemic and continue to be unemployed. On the other hand, several big tech firms no longer need a college degree for their employees.
With the amount of information overload on the internet and updates in the concepts, college education continues to miss out on a lot of important skills that are a must-have for you in today’s world. Digital skills, data analytics skills, and networking skills are a few of the areas that many college degrees fail to impart to you. Without the holistic learning experience, you will end up getting limited in your creativity and may lag behind your peers, who adapted to the new-age concepts.
In the end, it’s the on-field experience that drives your career forward which in today’s time can be acquired through online courses and opportunities. You can also intern to gather that experience and start on a basic stipend.
How Can You Make The Decision That’s Right For You?
While a college education has both its pros and cons, it depends on you and what makes sense for your career path. Whether you are inclined towards studies, have a certain moral compass due to your family’s background, or have the plan to pursue higher education in a certain college, all of these factors can weigh in to decide what is best for your future.
You can think of the following questions to get you started.
- Do you want to go to college, or is it something you feel because of what others expect from you?
- Do you have a career path in mind?
- If you are not sure, have you considered taking a gap year, circling down on your options, or maybe working before deciding?
- Do you feel like this is a now-or-never situation, if yes, have you considered consulting a career counselor?
- Have you assessed colleges and what kind of fee structure there would be?
- Have you already started working and thinking of continuing that?
- Have you gotten a scholarship from any of the colleges?
- Do you wish to pursue higher education abroad and hence, want to go for a college education?
- Do you think your favorite profession can be practiced with some training, a certificate, or a two-year Associate degree?
- Is your prospective employer asking for a college degree?
While answering these questions, you may arrive at what’s best for you.
Yes, a College Degree is Not a Default Requirement in Today’s World
It depends on what you think is best for you. Times have changed and a college degree is not a golden ticket to your dream anymore.
Many students right after high school are starting their firms or becoming full-time freelancers. So why can’t you?
In today’s time, there is a growing demand for skilled talent and what you should be focusing on is perfecting the skills based on where your passion lies. You should strive to keep up with the trends and concepts in a rapidly changing industry.
Admittedly, some of you may not need a college degree to achieve your personal or professional goals. So make sure you weigh the pros and cons before deciding on whether to earn a bachelor’s degree or get a job or begin to work with your high school diploma, as your highest educational attainment. And you make the decision that will benefit you the most now and in the future.