Gen Z is looking for non-traditional paths to success.
A new report found that only one-third of Gen Z Americans believe that a college degree is necessary for financial success. Sixty-six percent believe that college degrees are often not worth the investment.
The results are interesting, considering Gen Z is following on the heels of the most educated generation in American history. Approximately 38 percent of millennials have a bachelor’s degree or higher, compared with 32 percent of Generation X and 15 percent of baby boomers when they were the same age.
However, Gen Z is growing up in an era unlike any other generation. The average cost of college in the United States is $36,436 per student per year, and the national student loan debt passed $1.77 trillion back in March, leaving many Gen Z to rethink their finances. Additionally, a career as an influencer or content creator is the No. 4 most desired job among Gen Z, an option that wasn’t imaginable 20 years ago.
The workforce itself is changing, too. A 2023 survey of HR managers by Intelligent.com found that 53 percent of hiring managers have ditched the requirement for a bachelor’s degree for some roles in the past year.
“For so many jobs, it is an arbitrary requirement,” said Stacie Haller, a career coach who consulted with Intelligent.com for the report. “And it does eliminate people needlessly who could be great employees. There is also a big chunk here about creating more equity and diversity. If you cannot afford to go to college to get a four-year degree, if it’s a financial reason or maybe a time reason, then you are already eliminated from all of those jobs.”
