The Independent is reporting new research that claims British graduates have spent tens of billions of pounds on university degrees they haven’t put to use in their current job roles.
Training company The Knowledge Academy recently carried out a study of 2,000 graduates to find 64 per cent felt their degree was not relevant to their current role.
While results showed the average graduate polled left university with an average debt amount of £13,292 – with approximately 12 million graduates in the UK, according to the Office for National Statistics (ONS) – the huge sum can be estimated at just over £65 billion being spent on unused degrees.
Results also highlighted how just 36 per cent of graduates found their degree relevant to their current career choice, while 67 per cent felt they could have got their current job without even having their degree.
As well as this, six in ten said they never had to provide any proof they even had a degree in order to get their job, and over a fifth felt their employer had “no clue” what qualifications they actually had.
Co-founder of The Knowledge Academy, Barinder Hothi, described the statistics as “shocking,” and said: “The high cost of university is often considered necessary in order to progress in a particular career but, with most valuing the experience of university over the knowledge gained from their degree, one has to ask: is it really worth it?”
Is it really fair to conclude that money spent on these degrees has been wasted just because the graduates can’t see that it has helped them? Might they underestimate the impact the education has had in turning them into the people they have become and who were subsequently selected for their jobs?
That said, as regular readers will know I have often questioned whether our higher education system is still fit for purpose or offers enough real value to our young people, so I can see where they are coming from too.
What do you think?
Please let us know in the comments or via Twitter…
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