A recent study on student lending conducted by Moody’s Corporation showed that since the year 2000, college tuition costs have more than doubled. This is an interesting statistic when paired with findings from the Pew Research Center that shows 57% of Americans believe “the higher education system in the United States fails to provide students with good value for the money they and their families spend.”
With the cost of higher education increasing and the value of a college degree becoming a more heavily debated topic, are we potentially on the cusp of a paradigm shift in the way businesses hire and what qualities companies look for in a new employee? Do education credentials still carry the same weight in the selection process for your company? Let us know by voting in our poll.
I always hire on experience being the criteria.
Experience is key.
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With over 40% of senior executives working in areas where they have no formal education I think that the scales are tipped to experience as being the determining factor when hiring. I will take someone with less education as long as they have even a pinch more experience in the area I am hiring for than the next candidate.
Real-life experience can’t be beat. We’re finding that a seasoned professional with relevant experience ramps up much more quickly – and understands the work environment better too.
I think both go hand in hand. You may believe that everything can be learned on the job, but the truth is that some of the skills and knowledge that college programs provide cannot be acquired anywhere else. Besides, if anything, the economic recession has led to an increase in demand for higher education. There has to be some logic to this spurt. I think what we need is correction in the fee structure that makes college a huge financial burden for many.