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The Growing Gap Between Higher Education and Job Market

Recently I have been heavily involved in a mentoring programme for university students. The program has 4 folds and one of them is to support the university students in defining their future career.

Based on current patterns of graduation, more than half of young adults in OECD countries are expected to enter a bachelor’s degree, and almost a quarter are expected to enter a master’s degree or equivalent programme over their lifetime. Higher education trains graduates up to doctoral level. Countries with a higher percentage of doctorate holders in the population tend to exhibit higher rates or R&D intensity and innovation.

Whilst higher education is getting more expensive, the number of institutions providing higher education is also increasing. It is becoming more of a global market as students are willing to move to another country for a better education. The medium of education is English in most cases. The higher education industry is growing but it seems that the connection between the higher education and the employment market is getting weakened.  

Despite all these developments, the Employers are relying less on a college education: the number of jobs requiring an undergraduate degree dropped by 45% in the US in the first year of the pandemic. Companies are also trying alternate educational pathways to employment, such as certificate programs on specific skills.

Universities and higher educational institutions need to work on this gap but for the time being mentoring and coaching students at the university is becoming more challenging as the link between their education and the market is not a direct one anymore. Therefore, students might need some more skills in up in their sleeves to be ready for the job market.

For more information pls see   https://www.weforum.org/agenda/2022/11/new-educational-institution-higher-education-model-for-the-future/