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Every day more companies are announcing that they will no longer be requiring a college degree to get a job with them.

More than half of the Americans that DO have a college degree are now working in jobs that don’t require one, and the stigma around not working a white collar job has almost been reversed as skilled tradespeople have started to significantly out earn their office dwelling peers. The decision to commit to an expensive degree is one that less people are making every year, and this is either a really good thing… or a really bad thing. A college degree used to all but guarantee an upper middleclass lifestyle in America, but that’s because they were extremely rare. According to data collected from the U.S. Census Bureau and compiled by Statista only seven point seven percent [7.7%] of Americans aged over twenty five [25] had a college degree in 1960.

In 2022 THIRTY SEVEN PERCENT [37%] of the population had one, this was almost a five HUNDRED percent [500%] increase in the number of college graduates that companies could pick from. Now if you DO have a college degree and think that you are still in the elite minority, well let me knock you off that high horse. According to the National Bureau of Economic Research fewer than two thirds of Americans are part of the workforce so a college degree is nothing special anymore.

If you are a worker that wants bargaining power in their career you really only have two options. The report also found that companies still requiring their workers to have a piece of paper as a prerequisite for landing a job were hurting themselves by artificially limiting their candidate pool, or paying a premium for work that could be done by anybody.

This was a report published by a school famous for selling those pieces of paper, when they talk about the workplace benefits of overlooking a college degree… you can probably trust them… So it looks like this trend is going to be a win for workers and a win for companies right?... Wrong…

It’s true, more than half of American workers with a college degree right now are NOT working in roles that REQUIRE a degree… on paper… BUT for every person working a sixfigure coding role at a forwardthinking tech startup that dropped their college degree requirement, there are hundreds of workers with a fouryear degree under their belt who are waiting tables because they couldn’t find work anywhere else.

Sure, they are both TECHNICALLY working in roles that don’t require a degree but the nice sounding headlines are covering over something that could cost you hundreds of thousands of dollars over your career.

So it’s time to learn How Money Works to find out why the collapsing value of a college degree is great news… for some people…