Is College Necessary for a Successful Future?

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Why are more employers abandoning college degree requirements? What are the pros and cons of eliminating them? Is college necessary for a successful future?

A growing number of public and private sector employers in the US are dropping college degree requirements for job seekers. Human resources experts say that, in the years ahead, successful companies will reduce requirements that narrow talent pools and hire candidates with evergreen “soft skills.”

Here’s a look at the pros and cons of eliminating college degree requirements.

Credentialism Requirements Are Waning

For decades, young Americans have been told that a college degree is the golden ticket to a better job and life. Companies believing that a college degree provided the best workforce preparation have historically excluded the 62% of Americans who didn’t have one.

Today, however, a growing number of public and private sector employers are dropping college degree requirements and expanding the definition of a “qualified” candidate” to include life experience and real-world skills. This has people asking, “Is college necessary for a successful future?”

Background

The 2008-09 Great Recession reinforced the call for four-year degrees in the workplace. With job seekers in abundance, employers could be selective about who they hired—so more began requiring candidates to have a college degree. The requirement stuck in the decades that followed, even as the economy improved.

More recently, employers have warmed to the idea that a college degree isn’t a necessity. Experts say that more employers are shedding the college credential requirements, for several reasons including:

The need to fill pandemic-related job shortages
Fewer people are going to college
George Floyd’s murder sparked conversations about diversity, equity, and inclusion in the workplace, turning the focus to issues like the disproportionately negative impact of not having a college degree on Black and Hispanic Americans.

The Trend Away From Credentialism

The shift away from college degree workplace requirements is gaining traction across the US:

Eight states no longer require a college degree for many state government jobs.
Apple, Google, Tesla, and IBM don’t require a four-year bachelor’s degree.
President Joe Biden has emphasized the importance of apprenticeships. In 2022, he launched the Infrastructure Talent Pipeline Challenge.

Upsides of Ending Credentialism

Some experts say shifting away from college degree requirements and instead basing hiring on individuals’ skills:

Creates more job opportunities for Americans without a college degree.
Provides a viable path to the middle class. Because college has become cost-prohibitive, many students—particularly low-income and minority students—have been locked out of a middle-class life. Some cannot afford to go to college and many who do attend graduate with crushing student debt that prevents them from being able to buy a home, start a family, or save for retirement.
Enables employers to fill labor shortages with the most qualified candidates by expanding their talent pool.

Downsides of Ending Credentialism

Some experts counter that, although college isn’t for everyone, getting a four-year degree still offers clear benefits. They say that abandoning a focus on college is a bad idea because:

Historically, Americans have earned more with a college degree than without one. Education has enabled construction workers, police officers, plumbers, retail workers, and secretaries to take on higher-skilled work, land higher-paying jobs, and start their own companies.

College graduates have greater job stability than non-degree holders. In 2021, college degree holders had a 2.1% unemployment rate, compared to 4.6% for high school diploma holders.
The trend may dissuade some students from attending college. Minority and low-income students may be more likely to forgo college, worsening their long-term outcomes.