Uni degrees: should value be measured in more than financial returns?
While salary is a tangible indicator, it is far from the only one that can be used to assess the value of a university degree. (Envato Elements pic)
PARIS : Move over physics, chemistry, economics or law – these days, you can study far more unusual topics, such as bowling-industry management, the science of beer, parapsychology, or even the sociology of celebrity, with Lady Gaga, Beyoncé or
Move over physics, chemistry, economics or law – these days, you can study far more unusual topics, such as bowling-industry management, the science of beer, parapsychology, or even the sociology of celebrity, with Lady Gaga, Beyoncé or
Taylor Swift as the subject.
In the US and the UK, these surprising courses are flourishing on campuses. But behind their originality, they also attract criticism – for some, they are pure 'Mickey Mouse degrees', that is, diplomas deemed pointless, of poor value, or even absurd given their apparently uselessness in the job market.
A new study now sheds a more nuanced light on the matter, highlighting criteria for professional success that go beyond financial returns.
Conducted in the UK, this research analysed the responses of over 67,500 graduates of the 2018-2019 academic year, questioned 15 months after the end of their studies via the major national 'Graduate Outcomes' survey.
The aim was to look beyond figures on income and to focus on graduates' professional experiences. Is their job meaningful for them? Does it match their aspirations? And are they using the skills they acquired at university?
Professional satisfaction
The results may surprise those who take a purely financial approach: 86% of young people surveyed felt that their work was meaningful, 78% felt that it corresponded with their future plans, and 66% said they were using the skills they had acquired during their studies.
These figures call into question the idea that only financially 'profitable' degrees have value.
No university programme deliberately sets out for its students to fail. (Envato Elements pic)
Of course, professionally oriented courses such as medicine, veterinary science or teaching all score highly, particularly in terms of their relevance to the demands of the profession. But when the data is cross-referenced with social origin, gender or educational background, many of the gaps between vocational and generalist fields of study start to narrow.
In other words, no university course condemns its students to failure. Even the courses most maligned in the public debate – social sciences, communications, arts – generate a genuine sense of professional satisfaction. And this is an aspect that rankings based solely on income all too often overlook.
The researchers acknowledge, however, that their work is limited to the first 15 months post-graduation and does not allow them to track salary trajectories or long-term job stability. But it does provide an unprecedented and representative snapshot of early professional life by field of study.
As such, it might be time to move beyond the perception of degrees in terms of financial returns. Choosing a course of study out of passion, affinity or intellectual curiosity is not a mistake: it can be the path to a fulfilling and useful career.
To denigrate the humanities and social sciences is also to undermine an entire sector of culture, which is vital and already under strain. The real question, then, is not how much a degree can earn you, but what it can help build – for you, personally, and for society.
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