The cost of living crisis continues to hit millions of Americas hard every single day, as many external factors impact the US economy.
As a result, many high school students are considering whether a four-year bachelor's degree is worth their time, and more importantly, money.
Like in the majority of countries, the cost of higher education is increasing across the US, making it unaffordable for a lot of folks.
And the reason why a lot of young people decide to take the plunge into the world of higher education is of course for improved job prospects.
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Perhaps the parties play a role, too - but anyway, I digress.
There is no doubt that having a bachelor's degree improves your chances of going into a certain role, though that looks as if it's about to change.
That's because nearly half of companies in the States have said they plan to remove a bachelor's degree from some job requirements in 2024.
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The remarkable findings have been uncovered through a survey conducted by Intelligent.com, who spoke to some 800 US employers.
The survey found 45 percent of companies plan to eliminate bachelor’s degree requirements for some positions heading into the New Year.
It follows a trend that was set in 2023, where 55 percent of companies eliminated bachelor’s degree requirements when advertising new roles.
The survey found that 70 percent eliminated bachelor’s degree requirements to create a more 'diverse workforce'.
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It was also uncovered that four in five employers value experience over education when deciding on who best fits a job role, while two-thirds of hiring managers have candidates complete test assignments before offering them a job.
Despite all these trends that point to not needing a bachelor's degree to succeed in the job market, professor and higher education advisor Diane Gayeski PhD says there are still benefits to entering higher education.
"A bachelor’s degree is much more than preparation for an entry-level job. It prepares people for a full life, including exploring what areas of employment might be a good fit for the immediate and long-term future," she said.
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"While a young person may be able to get an entry-level job without a bachelor’s degree, the lack of the degree along with the other ‘soft skills’ that one gains in college can make it difficult to climb the corporate ladder.
"Employers today are looking for people who are culturally fluent in diverse settings, can display and document their leadership skills, and can be flexible to take on new challenges."
Callum Jones