Is investing in college still worth it—and do you really need a degree to launch a successful career?
New data from Kickresume has found that over half of professionals regret their degree to some extent. In fact, 1 in 5 believe their college education will never feel financially worth it. Many value work experience as the larger driver of career success, even over a formal education.
“Our survey revealed the mixed feelings people have about how their degree has shaped their careers,” says Peter Duris, CEO and Co-Founder of Kickresume. “The results show that over half of professionals have expressed some kind of regret about their degree.”
Wondering whether you should still pursue a college degree? Here’s what the Kickresume survey found about degree usage and common reasons people are rejecting this traditional path.
Are College Degrees Still Worth It?
Whether a college degree is “worth it” is a loaded and nuanced question, as it entirely depends on the individual, as well as the industry in which they’re studying. Not to mention, some people have financial barriers, while others might simply not know what they want to study.
For those who haven’t pursued degrees, 63% reported that not having one had somewhat impacted their careers, with 26% of them saying the effect was noticeable. The remaining 37% claimed it didn’t affect them much, with 17% of them saying it had no impact.
As for those who did pursue degrees, 55% believe that having a college degree is becoming less important within their given industry. On the contrary, 21% said having one is becoming more important.
“It’s hard to know what the right decision is at such a young age, but it seems like degrees still do open doors,” says Duris.
Common Reasons People Are No Longer Seeking Degrees
According to the Kickresume survey, 26% of respondents said they dropped out of college for financial reasons, failing to finish their degrees.
“The biggest reason degrees are losing their edge today is financial barriers that can put people off studying,” says Duris. “With the debt that comes with student loans, many young people may be wondering if having a degree is still worth it.”
What’s more, 23% of respondents said they stopped studying to seize a current job opportunity. Undoubtedly, many are seeking immediate paid opportunities rather than investing in more long-term career goals. This might simply be what’s needed to financially survive in today’s economy.
Additional reasons students stopped studying include choosing the wrong field (16%), prioritizing mental health (16%), and family reasons (5%).
This doesn’t mean people aren’t still seeking education in some form, however. There are alternatives to college degrees, and you can always pursue a degree at a later date, once you’re clearer on your goals.
“There is a hunger for knowledge, as we found 70% of those without a degree are open to or actively considering studying in the future, while 36% say they use what they learned at college every day,” Duris adds. “A degree is still a starting point, but it’s real-world experience that increasingly defines a career.”
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