Is a Bachelor's Degree Too Common?

The stature of the bachelor's degree as a reliable indicator of employability and career success has been under increasing scrutiny. As the educational landscape evolves, so do perceptions of the college degree. While it once stood as a near-universal requirement for entry-level positions, the landscape is now more nuanced and complex.

Job Market Trends

In many industries, a bachelor's degree has become the baseline expectation for entry-level positions. This baseline requirement can make degrees seem more common among job applicants, diminishing them in the eyes of potential employers. However, this does not mean that the degree is losing its value entirely. In fact, in some sectors, a bachelor's degree is a bare minimum, and many employers are looking for candidates with more advanced degrees, or in some cases, specialized skills and training. For instance, in technology, experience and practical skills may outweigh formal education requirements.

Advanced Degrees

As more graduates pursue bachelor's degrees, the value of advanced degrees such as master's or professional degrees has increased. Employers in certain fields value these higher qualifications, making them a more distinguishing factor for higher-level positions. This trend underscores the ongoing importance of advanced education in certain professional domains.

Field-Specific Requirements

The emphasis on specialized skills and competencies means that formal education is no longer the sole determinant of a candidate's value. Certifications, vocational training, and practical experience can provide a competitive edge, sometimes eclipsing the value of a bachelor's degree. For example, in the technology sector, coding skills and project experience may be more highly valued than a bachelor's degree in computer science.

Regional Differences

The perceived value of a bachelor's degree can vary significantly depending on the region. In some areas, it is seen as an essential qualification, while in others, it may carry less weight. These regional disparities can further complicate the understanding of the degree's perceived value and its utility in different locations.

Overproduction and Underemployment

Despite these nuances, there is a prevailing concern that bachelor's degrees are too common. According to data, around 1.9 million bachelor's degrees are conferred annually, while only about 1.1 million good jobs are available that require a college degree. This disparity exacerbates the challenge of finding meaningful employment for graduates. Employers sift through large volumes of resumes, aiming to identify the best candidates amidst a sea of degrees.

Academic and Economic Context

The quality of higher education has also declined over the past five decades. Many students with modest math and language skills are now graduating with degrees, some of dubious utility. This trend has led to a situation where many graduates might have been at risk of dropping out in the past but now have degrees that do not align with high-demand job markets. Some argue that a degree in 'Underwater Basket Weaving' is an unfortunate result of this trend.

Thomas B. Walsh's research highlights that many university students have lower intelligence quotient (IQ) scores than those from the past. Additionally, a significant portion of college graduates are underemployed, working in jobs that do not require their college degrees. These observations suggest a broader trend of overproduction in higher education and questions the value proposition of the bachelor's degree in today's job market.

Further Reading

To delve deeper into these issues, consider reading:

Acaedemically Adrift by Richard Arum and Josipa Roksa, which explores the diminishing effectiveness of college in preparing students for careers and citizenship. Real Education by Diane Ravitch, which critiques contemporary educational priorities and argues for a return to a more traditional curriculum.

These works offer valuable insights into the challenges and complexities of contemporary higher education and the bachelor's degree's role in the job market.