You likely read the headlines: "XYZ tech company has dropped a college degree as a requirement." This furthers the narrative that college is no longer necessary to get a great-paying job, right? Not quite, friend.
Just remember: it’s not what they say; it’s what they do. Despite announcements from big-name companies that they are dropping the bachelor’s degree requirements, their hiring practices have not changed. As in, these companies proudly signaling their new hiring priorities were, at the end of the day, just making news and noise because their hiring of employees with only a high school degree did not change (and in some instances decreased). Moreover, if we were to pull these firms’ promotion stats, I would be confident and willing to bet that they simply are not promoting those without a bachelor’s degree.
This trend underscores higher education’s enduring value in today’s job market, and we need to be able to discern actual substantive signals from newsy noise.
Beyond the Books: Essential Skills Gained in College
While technical knowledge is a component of higher education, the actual value of a college degree lies in developing essential soft skills.
- Critical Thinking: Engaging with complex problems and diverse perspectives enhances decision-making abilities.
- Professional Socialization: Participating in internships, group projects, and networking events prepares students for real-world professional environments.
- Collaboration: Working in teams with individuals from various backgrounds fosters effective communication and teamwork.
- Empathy: Exposure to diverse cultures and ideas cultivates understanding and emotional intelligence.
As David Brooks noted in The Atlantic, higher education is about “the formation of a certain kind of person, not just about skills development.”
The Tangible Benefits: Earnings and Employment
The financial advantages of obtaining a college degree remain significant:
- Increased Earnings: According to the U.S. Bureau of Labor Statistics, in 2020, workers with a bachelor’s degree had median weekly earnings of $1,305, compared to $781 for those with only a high school diploma
- Lower Unemployment Rates: The same report indicates that the unemployment rate for individuals with a bachelor’s degree was 5.5%, compared to 9.0% for high school graduates.
These figures demonstrate a college education’s economic value in earning potential and job stability.
The Social Advantage: Lifespan and Well-being
Perhaps more importantly, higher education correlates with improved life outcomes.
- Longer Lifespan: A study published by the Institute for Health Metrics and Evaluation found that U.S. college graduates live 11 years longer than those who never finish high school.
- Volunteering: Approximately 38.8% of individuals aged 25 and over with a bachelor’s degree or higher engage in volunteer activities, compared to 15.6% of high school graduates.
- Happiness: Research indicates that higher educational attainment is generally associated with greater life satisfaction and well-being. For instance, a study by the Pew Research Center found that 42% of adults with a bachelor’s degree or higher reported being “very happy,” compared to 30% of those with some college education and 29% with a high school diploma or less.
These advantages highlight the broader impact of a college education on an individual’s overall quality of life.
Conclusion: The Enduring Value of a College Degree
While flashy headlines may suggest otherwise, the real story is straightforward: a college degree is still one of the most potent investments in your future. It’s not just about landing a better-paying job (though that’s a big perk)—it’s about becoming someone who can think critically, lead with empathy, and thrive in a world where change is the only constant.
A degree is more than a ticket to a career—it’s a foundation for a life of opportunities, meaningful connections, and personal growth. So, when it comes to equipping your child for the future, don’t just give them the tools to compete—give them the tools to flourish. Because no AI, algorithm, or shortcut can ever replace the unique, transformative experience of a college education.
References:
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Burning Glass Institute. (2023). The Emerging Degree Reset: How the Shift to Skills-Based Hiring Holds the Keys to Growing the U.S. Workforce. Retrieved from https://hrexecutive.com/why-
dropping-college-degree- requirements-isnt-actually- working -
Brooks, D. (2021). The Purpose of Higher Education Is Not Just About Jobs. The Atlantic. Retrieved from https://www.theatlantic.com/
education/archive/2021/04/ higher-education-purpose- skills-character/618590/ -
Bureau of Labor Statistics. (2021). Earnings and Unemployment Rates by Educational Attainment, 2020. U.S. Department of Labor. Retrieved from https://www.bls.gov/emp/chart-
unemployment-earnings- education.htm -
Institute for Health Metrics and Evaluation. (2020). Higher Education and Longevity: Examining the Link Between Degree Attainment and Life Expectancy in the U.S. Retrieved from https://www.healthdata.org/
research-article/us-life- expectancy-and-education -
National Center for Education Statistics. (2022). Volunteer Rates by Educational Attainment. Retrieved from https://nces.ed.gov/fastfacts/
display.asp?id=900 -
Pew Research Center. (2021). Happiness and Life Satisfaction in the United States. Retrieved from https://www.pewresearch.org/
fact-tank/2021/10/28/ happiness-and-life- satisfaction-in-the-united- states/
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