Fewer employers are relying on candidates having a degree, according to a new survey showing skills-based hiring is up 63%.
The research by payroll company Remote found that the gap between salaries offered to people without degrees and to graduates is marginal – while a number of roles without degrees can earn the same or more.
The average salary for a marketing position requiring a degree is £33,416, while a position for a candidate without a degree is £33,226 – just £200 difference a year.
The difference is more marked in certain professions: in accountancy, for example, those with degrees earn an average salary of £38,271, while those without can earn £39,349. Those with a doctoral degree earn just £33,333 on average.
The highest paid job not requiring a degree is equities trader, paying £56,284. Commodities traders who are not graduates earn £51,862, and ethical hackers £48,805.
Remote found that for every job that required a degree, there were more that did not have degree requirements. In HR, for example, having a degree will open up 351 HR manager roles, compared with more than 2,500 roles that don’t require a degree.
Sales is the profession where the ratio between jobs requiring candidates to be graduates and not requiring a degree is the highest. Remote found there were around 26,600 roles available to non-graduates, and 2,489 requiring a degree.
Equities traders and estate agents without a degree can earn up to 10% more than graduates with a degree. Air traffic controllers, HR managers, and accountants who do not have any kind of degree also have the potential to earn up to 4% more than those with bachelor’s degrees.
“Rather than using a candidate’s level of formal education as the sole indicator of how they will perform in a position, we instead suggest removing degree requirements wherever possible and taking a more holistic approach to recruitment; which involves considering their potential, life experiences, teachability, adaptability and resilience,” said Job van der Voort, CEO and co-founder of Remote.
“Removing unnecessary, outdated degree requirements prevents employers from missing out on a huge section of the talent pool and people without degrees have skills learned through on-the-job training. This creates greater diversity and engenders a more creative culture, leading to improved problem solving and idea generation, as well as facilitating skills and knowledge sharing.”
Remote’s research follows the results of a survey last month by job site Indeed, which found that three-quarters of employers are more open to hiring candidates without degrees than they were a decade ago.