Bisina SomtoIn the face of an ongoing cost of living crisis and economic challenges impacting millions of Americans daily, the value of a traditional four-year bachelor’s degree is undergoing scrutiny.
High school students are increasingly questioning whether investing time and, more importantly, money in higher education is a prudent choice amidst soaring tuition fees and the growing burden of student loans.
Join our WhatsApp ChannelAcross the United States, the cost of higher education has been steadily rising, rendering it unaffordable for a significant portion of the population.
Traditionally, pursuing a bachelor’s degree has been seen as a gateway to improved job prospects, prompting many young individuals to take the plunge into higher education. However, with the economic landscape evolving, the relevance of this educational path is being re-evaluated.
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A recent survey conducted by Intelligent.com, involving insights from 800 US employers, reveals a significant shift in hiring practices. Almost half of the companies surveyed, a staggering 45 percent, are planning to remove bachelor’s degree requirements for certain positions in 2024.
This follows a trend that gained momentum in 2023, where 55 percent of companies opted to eliminate such requirements when advertising new roles.
The motivation behind this shift is multifaceted. The survey found that 70 percent of companies chose to eliminate bachelor’s degree requirements to foster a more diverse workforce. This highlights a growing recognition that traditional educational credentials may not be the sole indicator of a candidate’s potential or suitability for a role.
Moreover, the findings indicated that experience is increasingly valued over formal education, with four out of five employers expressing a preference for practical knowledge gained in the field.
Despite these shifting trends, Professor and higher education advisor Diane Gayeski PhD emphasizes that there are still merits to pursuing a bachelor’s degree. She asserts that a bachelor’s degree provides more than just preparation for an entry-level job; it equips individuals for a fulfilling life, enabling them to explore potential career paths for the short and long term.
Gayeski notes that while some may secure entry-level positions without a degree, the absence of formal education, coupled with the ‘soft skills’ acquired in college, could hinder upward mobility in corporate settings.
Somto is an Entertainment Reporter with a passion for uncovering the latest stories in the world of entertainment. As a dedicated journalist, Somto delivers in-depth reporting, exclusive interviews, and breaking news coverage.
She covers a wide range of topics, from celebrity interviews to industry trends and film reviews.
As an Entertainment Reporter for Prime Business Africa, She continues to provide comprehensive and insightful coverage of the entertainment industry, offering readers an insider's perspective on the latest developments and trends. She is a trusted source for breaking news, exclusive interviews, and thought-provoking analyses.
Somto is dedicated to providing valuable information and entertainment to her audience while upholding the highest standards of journalistic integrity.
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