No bachelor’s degree? No problem.
A new report found that more and more companies are no longer requiring candidates to have a bachelor’s degree to apply for jobs. Instead, recruiters said they’re more focused on a candidate’s skill set.
According to ZipRecruiter, 45% of employers said they got rid of degree requirements for certain roles over the past year. Additionally, 72% of firms said they would begin prioritizing candidates’ skills and experience over the diplomas they hold.
The shift is happening across virtually all industries, from marketing to healthcare to education fields. Recruiters are looking for people with a specific skill list who can then be trained and educated within the company.
“It’s one of those rare things that is good for both the employer and job seeker,” said Parisa Fatehi-Weeks, senior director of environmental, social and governance at Indeed. “You rarely have a win-win situation, but this is one of them where employers can access more talent and be specific about what skills they need, and job seekers have more doors open to them if we get rid of the degree inflation.”
This doesn’t mean that bachelor’s degrees will become obsolete. Most companies require degrees for higher-level positions. But the shift does mean that young adults can begin their career before taking out thousands of loans to invest in their education.
“People shouldn’t pursue a four-year degree as a ticket to an immediate first job. It’s meant to make people mobile past that first job,” said Diane Gayeski, an adviser at Intelligent.com. “When it’s time to move on from that entry-level job into a leadership position, employers will look for broader experiences and the ability to be creative based on exposure to a wide variety of concepts and ideas.”
This is great news for Gen Z, who are already looking for alternative ways to start their careers that won’t require taking out high student loans. It’s tough news for millennials, however, who were told a college degree was the only guarantee for a solid career. Now, millennials will have to compete for positions with younger candidates who aren’t struggling with an average student loan debt of $42,637.
