Employers Confirm Value of College Degree, Institutions of Higher Ed

BETHLEHEM, PA—A new study from the National Association of Colleges and Employers (NACE) underscores employers’ perceptions around the value of the college degree, higher education, and institutions of higher education.

Employers responding to NACE’s 2023 Recruiting Benchmarks Survey said an average of nearly 70% of their entry-level jobs require a bachelor’s degree.

“There has been some conversation nationally about eliminating the college degree as a criterion for certain entry-level jobs,” says Shawn VanDerziel, NACE president and chief executive officer. “Our results counter the notion of a potential widespread trend and point to the value employers place on the degree."

To dig further into employer perspectives, NACE “also asked employers explicitly about discussions their organizations may have had about forgoing the college degree as a criterion for entry-level jobs. About one-quarter said they had done so, and most who engaged in such discussions were driven by a focus on skills and concerns about equity. None said it was because they lacked confidence in the value of the college degree,” according to VanDerziel.

Additional results made it clear that employers also value higher education institutions: When asked about the popular trend of certificates obtained by new college graduates and others, three-quarters identified college/university-based certificates as being of the highest quality over those offered by industry, company, and online providers.

“Here again, when asked about the rising number of certificate programs available, employers recognize that the value of certificates is tied to the quality of the curriculum that colleges and universities offer,” says VanDerziel.

Employers are not the only stakeholders that believe in the value of higher education. A forthcoming report from NACE based on input from more than 2,000 Class of 2023 graduating seniors shows that students also believe in higher education. 

“More than 90% of graduating seniors said their degree was worth it—and that they would pursue a college degree again if they had the chance,” says VanDerziel.

Investigating views related to the value of higher education from multiple vantage points is among NACE’s strategic research priorities, says VanDerziel.

“We are deeply interested studying and understanding how higher education serves employers, students, and the workforce at large,” says VanDerziel, “and our early results all point to the importance and value of higher ed.”

About the Survey: NACE’s 2023 Recruiting Benchmarks Survey was conducted April 12 through May 19, 2023. A total of 334 organizations took part, including 269 organizations that hold NACE membership (30% response rate) and 65 companies that do not hold NACE membership. An executive summary of the report based on the survey results is available on NACEWeb.

About the National Association of Colleges and Employers: Established in 1956, the National Association of Colleges and Employers (NACE) is the only professional association in the United States that connects nearly 11,000 college career services professionals, more than 3,600 university relations and recruiting professionals, and more than 400 business solution providers that serve this community.

NACE is the premier source of market research on career readiness, the employment of recent college graduates, and the college-to-career transition. NACE forecasts hiring and trends in the job market; tracks salaries, recruiting and hiring practices—including internships—and student attitudes and outcomes; and identifies best practices and benchmarks.

NACE offers its members unparalleled research, networking and professional development opportunities, guidance on standards and ethics, and advocacy on key issues. For more information, visit www.naceweb.org. NACE maintains a virtual press room for the media.