Degree milega kya What is the value of a degree

Once upon a time, in the kingdom of Academia, the scholar Athenaeus had a dream to create a formal qualification for specialized knowledge. He devised the concept of a "degree" - a structured course of study divided into levels. He devised a system of examinations and assessments in order to ensure its credibility. Students and scholars embraced the idea, and the degree became a symbol of expertise. It opened doors to careers and opportunities. Athenaeus's vision lives on, as the degree continues to evolve and empower individuals in various fields. His legacy transformed education and inspired countless students to pursue excellence in their educational journeys.

Students spend at least 3 and up to 6 years of their life after completing their schooling, pursuing the holy grail of a 'good degree'. Parents are willing to let their children chase their passion, follow their dreams, and explore the subjects of their choice, as long as they get a degree.

The huge demand for university degrees is not without good reason. Getting a degree from a good institute has several lifelong advantages:

1. Knowledge and Skills: A degree provides specialized knowledge and skills, enhancing expertise in a chosen field.
2. Career Opportunities: Having a degree opens doors to a wide range of job prospects, increasing the chances of securing desirable positions and advancing in a career.
3. Earning Potential: Statistics show that individuals with degrees earn higher salaries, as higher education is valued in the job market.
4. Personal Development: Pursuing a degree fosters personal growth, confidence, and critical thinking skills.
5. Networking: Universities offer networking opportunities, connecting students with professionals and peers, leading to valuable connections and future collaborations.

There is absolutely no doubt that all of these are important factors in a young person's career and journey in life.

But here is something to think about - while there were 1.1 million students enrolled in institutions of higher learning in India in 1975, the number is 38 million in 2019-20 (according to the All India Survey on Higher Education). According to the UGC (University Grants Commission), the number of universities in India has grown from 190 in 1980 to 993 in 2021.  The figures are similar for almost every part of the world. While this is great because more and more number of people are getting access to higher education, one must consider the implication of this. Having a degree 40 or 50 years ago meant that you are part of an exclusive few who had the means, smartness, IQ, grittiness, etc required to get a college education. This put you in a small set of highly capable people in the country.

Today, having a degree still puts one in an 'exclusive' group, but not to the same extent. Today having a degree is no longer enough to guarantee a successful career.

Having a degree has been reduced to a 'hygiene factor'. But in the era of the internet, social media, and artificial intelligence, the value of the degree is quickly being replaced by other factors. Hence, I would like to ask the following questions to the readers of this publication and offer some my of thoughts.

The degree was valuable because it was an attention grabber for potential employers, business partners, and even mates?
What is quickly replacing the value of a degree as an attention grabber are:

1. Professional Certifications: Industry-specific certifications have become increasingly valued as they demonstrate specialized knowledge and skills in a particular domain. (e.g. AGILE, CRM, ESG)
2. Online Portfolios and Projects: Building a strong online portfolio or showcasing impactful projects has become an effective way to capture attention.
3. Personal Branding and Online Presence: Establishing a strong personal brand through social media, blogging, podcasting, or other online platforms can attract attention and build credibility.

The degree was valuable as a symbol of the ability and commitment of an individual.
What is quickly replacing the value of a degree as a symbol of ability and commitment is:

1. Skills-based assessments - Employers and organizations are increasingly focusing on assessing candidates' specific skills and competencies through practical assessments, simulations, or work samples
2. Professional Experience and Track Record: Prior work experience, especially in relevant roles or industries, can become a significant indicator of an individual's ability and commitment.
3. Portfolio of Projects and Accomplishments: A robust portfolio showcasing a collection of completed projects, initiatives, or creative works can demonstrate an individual's ability to apply their skills and deliver tangible outcomes.

The degree was access to an exclusive club of doers and achievers. What might replace that?

1. Specialized Training Programs and Executive Education: Participating in specialized training programs, executive education courses, or leadership development initiatives can provide access to exclusive alumni communities.
2. Thought Leadership and Influence: Publishing research and insights papers, speaking at industry conferences, and actively contributing to relevant discussions can establish credibility and attract the attention of accomplished professionals.
3. Entrepreneurial Success and Start-up Communities: Succeeding as an entrepreneur and being associated with thriving start-up communities can provide access to exclusive networks.

Global organizations like IBM, Apple, E&Y, Google, and Tesla, and Indian organizations like HCL Tech, Tech Mahindra, Flipkart, Wipro, and Zoho India have already publicly announced that candidates don't necessarily have to have degrees to join and rise to high positions. Google's former Senior Vice President of People Operations, Laszlo Bock, stated that academic degrees were "worthless as criteria for hiring." Apple has shifted its recruitment strategy to focus on practical skills and real-world experience, allowing candidates without degrees to have equal opportunities for advancement.

I'm not saying don't get a degree! Im saying having a degree is not enough anymore. You need to go beyond and equip yourself with a combination of the right knowledge, skills, and attitudes in order to create a rocking career and life for yourself.  The above list is a good starting place to begin exploring your personal and career development. Don't allow yourself to be limited just by what your degree is offering. This much is clear - however reputed your institute may- your degree is no longer enough. It is upto you to go beyond, or seek a degree that offers more.

The future of education lies in technology-enabled learning which enables learning to happen in a manner that is much more integrated into our practical life, lifelong learning, and upskilling because just doing a degree is no longer enough to keep up with the rapid pace of evolution of knowledge, and a huge focus on employability and skills development.

It's time for the kingdom of Academia to sign a treaty and collaborate with the people in the land of Praxis - where industry professionals and entrepreneurially minded people are busy solving problems and creating value for generations to come.