Do You Really Need A College Degree To Have A Successful Career? | NBC News NOW

Summary

The video script discusses the changing landscape of job requirements, particularly concerning the necessity of a college degree for high-paying positions. It features Ali Alcala, who has a successful career in HR at JPMorgan Chase without a college degree, highlighting the bank's initiative to recruit and train individuals without degrees. The script also mentions Salesforce CEO Mark Benioff's stance that success is possible without a college degree and points out the rising costs and student debt associated with higher education. The narrative emphasizes the growing trend among major corporations, such as Apple, to value skills over formal education and the increasing availability of free online training programs. It suggests that while a college degree is still valued, it is no longer the sole path to a successful career, as companies are adapting their hiring practices to focus on skills and diversity.

Takeaways

• 🎓 **Degree Shift**: There's a growing trend where some companies are hiring applicants without college degrees, focusing more on skills than formal education.
• 🏦 **Success Without College**: Individuals like Ali Alcala have found high-paying jobs in sectors like finance without a degree, highlighting that success is attainable without a traditional college education.
• 💼 **Programs for Skill Development**: Companies like JPMorgan Chase are actively recruiting and training people without degrees, offering programs that pay for career development.
• 💰 **Cost of Education**: The average cost of a four-year degree has risen significantly, leading to a reconsideration of the return on investment for higher education.
• 🚀 **Alternatives to College**: Online training and certifications are emerging as viable alternatives to traditional college degrees, with platforms like Salesforce offering free training.
• 🌐 **Tech Giants Leading the Way**: Major corporations such as Apple and Salesforce are setting examples by hiring a significant number of employees without college degrees.
• 📈 **Economic Reality**: The economic burden of student debt is causing many to question the necessity of a college degree, with some graduates facing an average debt of $29,000.
• 📉 **Changing Perceptions**: There's a shift in the stigma associated with not attending college, as more people recognize the value of alternative paths to success.
• 🔍 **Skills Gap**: Employers are recognizing a skills gap and are adapting their hiring practices to include individuals with the right skills, regardless of whether they hold a degree.
• 🤝 **Diverse Workforce**: Companies are focusing on equity and diversity, which includes considering non-traditional candidates for roles, potentially leading to a more diverse workforce.
• ❓ **Future of Hiring**: While many jobs still require a bachelor's degree, the trend of hiring without one is growing, and it's uncertain how widespread this practice will become.

Q & A

What is the traditional belief about the necessity of a college degree for a successful career?

The conventional wisdom has been that a four-year college degree will lead to a more successful career.

How is the job market changing in terms of the importance of a college degree?

The job market is evolving, with more employers starting to focus on skills rather than just education, and some companies are actively recruiting people without college degrees.

What is an example of a company that is hiring employees without college degrees?

JPMorgan Chase is actively recruiting people without college degrees through programs that pay them to train in careers like operations and consumer banking.

What is the average cost of a four-year degree at a public university?

The average cost of a four-year degree has risen to more than ten thousand dollars a year at a public university.

What is the average student debt for graduates?

Graduates typically have an average of twenty-nine thousand dollars in student debt.

What is one reason mentioned in the script for considering college education less valuable?

The rising cost of college education and the fact that more than half of graduates are leaving with significant debt.

What is the average earning difference between a college graduate and a high school graduate?

On average, a college graduate makes 67 percent more than a high school graduate.

What is the opinion of Salesforce's CEO on the necessity of a college degree for success?

Salesforce's CEO, Mark Benioff, believes that success in the United States is not contingent on having a college degree and that one can create incredible value without it.

How does the script suggest one can gain valuable skills without attending college?

The script suggests that free online training, such as that offered by Salesforce, can lead to valuable skills and career opportunities without the need for a college degree.

What is the current trend among major corporations regarding the requirement of a four-year degree?

Many major corporations are abandoning the requirement of a four-year degree, recognizing the value of skills over formal education.

What is the implication of the rising cost of college on the perceived return on investment for a degree?

As the cost of college rises, some argue that the returns on investment are not keeping pace, suggesting that the traditional belief in the financial benefits of a college degree may be outdated.

What is the potential impact of companies focusing on skills over education on the workforce?

Focusing on skills over education could potentially lead to a more diverse workforce, as it opens up opportunities to individuals who may not have had the means to pursue a traditional college education.