University admissions have declined for the third consecutive year as rising costs leave young people searching for alternatives.
While students may worry about career prospects without a traditional degree, new research from Cambridge Advance Online suggests a more positive outlook for future leaders:
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47.4% of managers, directors and senior officials in the UK do not have a degree, equivalent or higher qualification which demonstrates the opportunity to succeed through non-traditional routes.
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Over half (53.6%) of current job listings that specify educational requirements do not mandate any type of degree, highlighting more flexible career entry points.
To uncover these insights, Cambridge Advance Online analysed a sample of over 34,000 Indeed job listings and compared the results with government data on the population’s education levels. The research comes in the wake of a 3.1% tuition fee increase set to take effect this August, further impacting the affordability of education and the number of new people entering the workforce without attending university.
The findings suggest that young professionals are more likely to come from diverse educational backgrounds as alternative paths are on the rise. While university admissions decline, nearly one million more British students are enrolled in further education courses compared to those in higher education (3.1 million versus 2.2 million), an increase of 122,750 from the previous academic year.
Those pursuing alternate education paths can be encouraged by the significant number of degree-free employees in managerial positions (47.4% according to Census data). Alternative options for studying business and leadership include NVQs, online training courses and apprenticeships; however, qualifications required for career progression can vary by role and industry.
Supporting this, a recent study found that over half of UK employers were moving toward skill-based hiring, prioritising abilities over educational background or past experience. The report highlights that communication, teamwork, critical thinking, problem-solving, and written communication skills are among the top qualities employers seek.
Asli Derya, Cambridge Advance Online’s learning propositions director notes, “In today’s rapidly changing labour market, advancing one’s education is vital for remaining competitive. Ongoing learning can greatly enhance long-term career prospects, but it is essential to choose high-quality, up-to-date education that reflects the realities of the market.”
While there may be more opportunities available for those looking to start a career in leadership, this doesn’t diminish the value of a degree but highlights that there are alternative pathways to success. Enrollment in higher education business and management courses bucked the overarching trend, with admissions increasing by 12.4% for the academic year 2022/23 compared to the year prior. Cambridge Advance Online also reports increased popularity for its range of business essential courses indicating an increased interest in furthering these skills.
Stewart Utley, a learning designer at Cambridge Advance Online emphasises the importance of carefully considering the right educational option:, “Our motivations for learning are intrinsically linked to our circumstances, needs and prior experiences and these in turn shape the way we engage with both formal and informal education.
“As we see more institutions offering ‘micro-credentials’ – shorter, highly-focused courses aimed at specific needs, we’re embracing a new age of increasingly personalised learning where alternative routes to building a knowledge and skills base for dynamic professional contexts is becoming the norm, and rightly so.”
Visit the Cambridge Advance Online blog to explore further insights on educational levels in the UK, employer expectations, and alternative education pathways.