Following recent announcements that funding for universities is to be cut, the number of places available for prospective students in the future will either be drastically reduced, or tuition fees will have to increase significantly, or potentially both, which will further push forward the question of 'is a university education worth it?'.
With tuition fees to complete a 3 year degree in England already costing almost £10,000, coupled with the general cost of living and supporting these studies, the average student is estimated to be graduating with well over £20,000 of debt.
About ten years ago I remember meeting with a highly successful Marketing Director who had started his career in the agency world, and who had worked at several of the big name agencies in London. He re-counted how before he started his studies he had approached some of these agencies to get their advice about what he should do. He was told by most that they didn't care what subject he studied as long as he graduated for a 'red brick' university with at least a 2:1, they'd guarantee him a job. Basically just leave home and head off to University, study hard for something you enjoy at a well respected institute, play hard and find yourself, and a job is yours! Now I'm sure that some of these old school ideologies still exist, somewhere, but if that same 18 year old approached an employer today, what advice would they be given? What advice would you give or expect to be given?
Every day I'm reading marketing job descriptions that all seem to state something along the lines of 'degree educated or equivalent' as an essential requirement. When consulting with clients on who and what they are looking specifically, there are a few who are totally adamant they won't look at CVs of anyone who doesn't have a degree, however the majority are more focussed on getting the right individual with the right experience.
That takes us back to the old 'Catch 22' situation of candidates needing experience to get a job, but needing a job to get experience. For those who progress their education back-to-back from school through to university then a good, hands-on, relevant placement year is becoming more and more important, so you're not just one amongst the hundreds of well educated candidates with no tangible experience. However should employers be looking to offer that invaluable experience at an earlier stage and then help to support committed employees in gaining theoretical knowledge and qualifications to build on their experience.
Is a 21 year old with 3 years solid marketing experience who has completed some relevant industry qualifications during this time a more, or less, valuable resource that a newly qualified university graduate who has barely stepped foot in an office environment before? Putting yourself in that position, do you think you would be stronger placed having spent 3 years starting a career and having earned at least £30,000 during that time, or having learnt about a subject with limited practical experience and potentially built up large debts? If it's the former, do employers need to re-evaluate who they are taking on in their entry level positions?
With the marketing shift towards digital continuing to pick up pace, resulting in new tools and methods being developed and introduced at an ever increasing rate, should we be looking at better ways to integrate work experience and ongoing education that will prove more beneficial for both employers and individuals.
Nowadays everyone now seems to have, or wants to have, a degree, and there is still a tendency to jump straight into starting one as soon as possible, but is it the right way to go?
Matt Hackett