A recent report by Intelligent.com on November 29 revealed that 45% of companies intend to do away with bachelor’s degree prerequisites for certain roles in 2024. This follows a trend from 2023 where 55% of companies had already eliminated degree requirements, especially for entry and mid-level positions. Employers cite diversifying their workforce, broadening applicant pools, and recognising alternative skill acquisition avenues as reasons behind this shift.
Diane Gayeski, a higher education advisor at Intelligent.com, and a strategic communication professor at Ithaca College, highlighted the financial challenges faced by marginalized groups and those from lower-income backgrounds when pursuing higher education. Gayeski stressed that eliminating degree requirements could democratise job opportunities for individuals who couldn’t attend college due to various barriers. The survey, encompassing 800 U.S. employers, showed that 80% prioritize work experience over educational qualifications. Furthermore, 81% believe that recent graduates should possess practical work exposure. Industries like information services, software, construction, finance, and insurance led to dropping degree prerequisites.
Despite this shift, 95% of respondents indicated their companies still demand bachelor’s degrees for some roles. Approximately a quarter need degrees for three-quarters of their positions, while 27% mandate degrees for half their roles. Gayeski underscored the significance of soft skills gained in college for career progression, indicating that while entry-level roles might be accessible without a degree, advancement could be hindered without those skills.
The survey also emphasized the value employers place on alternative education pathways. Certificates (75%), associate degrees (68%), online degrees, and apprenticeships (61%) are all viewed favorably.
Companies seem invested in ongoing education, with 70% offering additional education as part of their benefits. Moreover, 45% provide student loan repayment assistance.
A report by Bain & Co., OneTen, and Grads of Life highlights that over half of jobs don’t necessarily require a four-year degree. This realization prompts companies to focus on specific industry skills in job descriptions, aiming to attract a more diverse workforce.
Several state and local governments, like Alaska, Maryland, and New Jersey, have scrapped degree requirements for most roles. Corporations like Walmart also plan to eliminate these prerequisites and reframe job descriptions. While there’s a shift towards skills-based hiring, LinkedIn data suggests hiring practices still lag, perhaps indicating a disparity between recruiters and hiring managers in implementing this shift.
