It is a common belief for majority of Asians that a degree is your key to success and stability. But is that really the case?

Let’s first see why people are so obsessed with getting a degree:

  1. Make more money
  2. Expand your knowledge base
  3. Better career opportunities
  4. Satisfaction and job security
  5. Ability to weather adversity
  6. Many jobs require a bachelor degree
  7. Networking would be easier
  8. Personal growth happens with a bachelor degree
  9. Worker with bachelor degrees are happier with their careers
  10. A bachelor degree increases your financial security
  11. You’ll always be marketable

The above list were taken from the following posts:

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Each of these reasons were supported by some evidences in the original article that you can view. However, in this post, I will explain my own views in response to these reasons.

Make More Money

If you want to make more money, you do not simply waste 3 – 4 years of your time for a college degree. You should start a business, be a property agent, pilot, surgeon/doctor if you want to make more money.

Getting a degree may not entitle you to more pay.

In Singapore, getting a degree from a private institution and a public institution make a big difference. Graduates from public universities usually earns more than those from private universities. And those fresh graduates from private universities, their earnings are about the same as those with Diploma graduates who have worked for 2 – 3 years.

In a way, it does seem that those with a degree qualification are able to make slightly more money, but definitely it is not a one way ticket to earn more money.

Expand Your Knowledge Base

I can agree with this statement if and only if we are living in an era with no internet. Otherwise, this statement is not applicable in the era we are living right now.

If you want to increase your knowledge base, you can simple google it. If you want to learn in depth, you can find relevant courses as shown below instead of going through a 4 years program:

Better Career Opportunities

You get better career opportunities by:

  • Equipping yourself with relevant skills for the job you apply
  • Learning new skills periodically
  • Having relevant work experiences

Not simply by getting a degree.

Satisfaction and Job Security

In the US, 34% – 43% of graduates are underemployed. In South Korea, out of about 300,000 graduates, only 200,000 secured a permanent position where the rest are being lowly paid. We live in an era where there is an oversupply of graduates. Getting a degree is simply not enough to achieve job security and satisfaction. You need more than that to stand out from the crowd.

Ability to Weather Adversity

This is absolutely not true. Based on what I have observe, fresh graduates cannot adapt to unpleasant or difficult situation at work. This will lead them to leave the company within 3 – 6 months. On another hand, those who can adapt to adversity are those with work experience be it with a degree or without.

Many Jobs Require a Bachelor Degree

Unfortunately, I cannot disagree with this statement although I find it stupid. Many companies or hiring managers are trapped in traditional thinking that a degree is what defines a person’s capabilities. And yet, they require you to have work experience. So, to go around this, you may want to consider working full-time and taking a part-time degree so that you will end up with both a degree and work experience.

Networking would be Easier

Whoever suggested this must have lived in stone age. People do not network with you based on your qualifications. You do not simply talk to a person in an event and ask him/her, “hey, what is your qualification? Oh a degree holder? Let’s keep in touch!”.

People network with you based on the relevancy of their job functions to yours or based on their current/future needs.

Personal Growth Happens with a Bachelor Degree

This is not true. Personal growth happens as you gain more work experience and as you tackle challenges and difficult situations.

Worker with Bachelor Degrees are Happier with their Careers

Ask yourself this, are you happy with your current career? If you are happy, that is good. You are one of those minority who are happy with their career. However, majority of working adults that I know of, are not happy with their careers.

A Bachelor Degree Increases your Financial Security

I strongly disagree. What is the use of having a degree with 0 financial knowledge? You achieve financial security by applying proper financial planning. And you plan your finances by learning about financial management, investment, and so on. Not by taking a degree. I know many people with a degree but poor financial management.

You’ll Always be Marketable

Wrong. You will not be marketable with just a degree. However, you will be marketable if you keep on learning new things and gaining new skills periodically.

Conclusion

Having a degree does not guarantee success. What is important in current job marketplace is to stay relevant and continuously obtain new skills.