Fifty-three percent of hiring managers said their company eliminated the bachelor’s degree requirement for certain roles in the past year, according to a report by Intelligent.com, a resource for online degree rankings and higher education planning. Among this group, 60% said they removed the prerequisite for entry-level positions.
In addition, 57% of hiring managers said they eliminated degree requirements for mid-level positions, and 33% waived the bachelor’s degree requirement for senior-level jobs.
“The move to eliminate a bachelor’s degree requirement is not surprising,” said Intelligent.com Chief Career Advisor Stacie Haller. “With two open job openings for every job seeker in this market, companies are at war for talent. We are hearing about layoffs in certain sectors, but in many others, companies are vying for the same candidates to fill open roles.”
With regards to the top reasons for eliminating the bachelor’s degree requirement, 64% of survey respondents said they wanted to increase the number of applicants, 59% said they believe there are other ways to acquire skills besides a four-year degree and 58% said they sought to create a more diverse workforce.
Meanwhile, 76% of hiring managers believe their company is “very likely” or “likely” to favor experience over education. However, many companies still recognize the value of education, with 72% of hiring managers admitting that having a bachelor’s degree is “very valuable” or “valuable” when evaluating candidates.
Conversely, other degree or certification types are considered less valuable, with only 24% of respondents seeing value in certificate programs, 23% in associate degrees, 16% in online degrees and 8% in boot camps.
Intelligent.com surveyed 1,000 hiring managers in the US for the report.