Today’s youth are beginning to look into alternatives to college, especially as the media has shown them successful individuals who never pursued higher education. Given that the average total cost of a bachelor’s degree can easily exceed $200k, the appeal of a college education is growing less and less. This is not to say that education does not have its benefits, but many individuals, especially those hoping to pursue a career in entrepreneurship, are thinking hard about the following question: can experience outweigh education in business?
Is a Degree Necessary to Get Hired?
On many job listings, a college degree has often become a mandatory prerequisite. However, this does not mean that there is no hope for an individual without a degree. There may be a stigma around those without a college degree, as they sometimes do not appear as “career-ready” as others. But sometimes, these individuals end up having more experience than those who did attend college. Even though a college degree may look like a great addition to your resume, employers also recognize that this doesn’t guarantee that this candidate will be a better fit for the role.
When looking at hiring statistics more closely, one will learn that 63% of employers have a hard time filling roles because of their degree requirements. Having this requirement on a job description could discourage a well-rounded and experienced candidate from applying. Though there is still a significant emphasis on college degrees, companies are beginning to see that it is not a necessity. When comparing an experienced businessman with 20 years in the industry but no college degree with a newly graduated adult who held one internship during their college years, it is plain to see that the more experienced candidate will most likely have more business acumen to propel the company’s efforts.
The Pros and Cons of Education for Entrepreneurs
Ultimately, if your wish is to be an entrepreneur, you most likely will not have to worry about somebody hiring you. This really leaves your college education in your hands. Should you wish to go to college, you’ll most likely receive valuable information, establish a network of individuals and have internship opportunities. But with these opportunities also comes debt, hours of work done for gen-ed classes you have no passion for, and more.
When it comes down to it, these educational opportunities can still be pursued without going to college. You can gain valuable real-world experience through establishing your own business or even by acting as an assistant for another entrepreneur prior to beginning your own company. Networking can definitely be done outside of college, which could end up landing you an internship as well. Rather than spending four years studying, you’ll be spending four years gaining hands-on experience that could prepare you well for the future and make you money in the process.
There is no one road that all entrepreneurs have to take. There are many talented entrepreneurs who will never forget the years of value that college brought them. But there are also many who never pursued a college degree and have found just as successful a career for themselves. Ultimately, you should do whatever feels right for you, but if you choose to forego education, make sure that you are out and about, making things happen for you and your entrepreneurial dreams.