A survey by Intelligent.com, the site that provides accurate, fact-based information on a wide range of topics, indicates that companies in the United States are eliminating the bachelor’s degree requirement and that it is paying off.
“As the job market evolves, an increasing number of companies are eliminating bachelor’s degree requirements for certain positions,” says the Intelligent.com report.
To learn more about this trend, the site recently surveyed 750 American business leaders.
Relevant survey data:
· 33% of companies have eliminated the college degree requirement so far in 2024.
· 25% of companies will eliminate or continue to eliminate the college degree requirement by 2025.
· The main reason for reducing degree requirements is the desire to prioritize skills over degrees.
· 3 out of 4 business leaders at companies that have eliminated requirements say it has been beneficial for the company.
So far this year, 33% of business leaders surveyed say their company has eliminated the requirement for a bachelor’s degree for certain positions. On the other hand, 63% say their company has kept the requirement, while 4% are unsure.
Among companies that have eliminated the college degree requirement, 59% have done so for entry-level positions, 54% for mid-level positions, and 18% for senior-level positions.
While these companies have removed requirements for some positions, all of them still require a college degree for at least some of their positions. More specifically, 40% of business leaders indicate that many positions in their company still have this requirement, while 43% say that some positions do and 16% report that few positions still require a college degree.
“Removing college degree requirements from the hiring and selection process is becoming increasingly popular in many industries,” said Huy Nguyen, senior advisor for education and career development. “The shift in trend reflects a broader recognition that practical skills, real-world work experiences and the ability to self-learn may be more important measures of potential success than four years of formal college education in many job roles.”
Nguyen added: “By removing degree requirements, companies gain access to broader and more diverse talent pools, especially when looking to fill positions in industries facing labor shortages or seeking specialized skills that students may not have learned in college. Many companies that have done this report receiving more job applications, allowing for a more robust and competitive candidate selection process, allowing hiring managers to choose from more qualified applicants.”
For more details on the survey and its methodology, click here.
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