Highlights from Higher Ed

Higher-Ed Brain Drain, Employers’ Hiring Preferences, Taking on Debt, and 10-Year Bachelor’s Degree Trends 

Liaison International
Jul 28, 2022

Most Higher Ed Workers “Likely” to Quit Within a Year 

The majority of people working in the nation’s colleges and universities say they are probably going to quit their jobs within 12 months. Comparable numbers said they are “somewhat likely” (22.3%) or “very likely” (22.4%) to leave their current jobs, whereas 12.5% said they are “likely” to. Last year, fewer than half (43%) anticipated quitting. The most common explanation for planning a job change is to earn more pay (76%), followed by the desire to work remotely (43%), have a flexible work schedule (32%), and get a promotion/more work responsibilities (30%). “Recommendations to boost retention include providing salary increases, offering more remote work options and flexible schedules, carefully managing employee workloads, and finding ways to recognize employee achievements, invest in career development, provide opportunities for advancement, and enhance parental leave policies and childcare subsidies.” 

Source: Inside Higher Ed 


Employers Still Want to Hire Candidates with College Degrees 

Fewer than 40% of U.S. adults have a bachelor’s degree, but more than half (62%) of recently surveyed hiring managers believe a college degree is a “must-have” qualification for job seekers. Just 10% of employers let candidates know that a college degree is not required. Earning a degree doesn’t necessarily guarantee a smooth transition into the workforce, however. “[H]alf of all recent graduates won’t even apply for entry-level positions because they don’t feel qualified. Extensive qualifications and job descriptions are likely additional turn-offs.” Technology employers are most likely to require a degree (80%), compared with approximately 50% of healthcare and trades employers. According to the report, “75% of graduates have not been happy with their college paths, either because of time spent and cost or because their major didn’t translate well into the job market.” 

Source: University Business 


74% of Families Say College Costs are “Surprisingly High” 

The unexpectedly high costs associated with tuition, fees, personal expenses, and room and board have pushed more than half (54%) of U.S. families to plan on borrowing money to pay for college. The most common source of anticipated borrowing is federal student loans (43%), followed by parent loans (18%), and private student loans (15%). Why are people willing to take on new debt to help pay for school? “Nearly all (91%) parents of college-aged students strongly agree a college degree is important for their child’s future.” Personal expenses cited as motivating factors for borrowing included phone plans (96%), auto insurance (75%), travel (74%), and buying a car (44%).  

 
Source: PR Newswire 


Six Fields of Study Accounted for More Than Half of All Recent Bachelor’s Degrees 

More than two million students earned bachelor’s degrees during the 2019-2020 school year, but most of them studied in one of just six fields: business, health, social sciences/history, engineering, biological and biomedical sciences, and psychology. “Among the fields showing the largest absolute gains over [the previous ten years], practical, occupationally oriented majors topped the list.” Health professions sat at the top of that list, followed by computer/information sciences, engineering, biology/biomedical sciences, and business. “Education, social sciences, and humanities had the largest losses… Among bachelor’s degrees conferred in 2019–20, about one in five — 21% (429,300 degrees) — were in a STEM (Science, Technology, Engineering, Math) field.” 

Source: Forbes 

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