Many employers no longer believe that a university degree is the best way for young people to get ahead in the job market, a survey has suggested.

The research, of 100 HR managers and 100 other bosses focused on the marketing profession, found that 53 per cent said that entrants to the job market would be better or equally well off pursuing professional qualifications and work experience rather than going to university to pursue a degree in an academic subject. Moreover, 71 per cent disagreed with the statement that a degree is worthwhile regardless of where or what is studied.

A supporting survey of 2000 recent graduates found that nearly a fifth (18 per cent) regretted going to university and wish they had taken a path of experience and professional qualifications instead.

Asked specifically about whether a degree was a requirement for marketing roles, the HR managers were divided, with 54 per cent saying a degree was needed but 46 per cent saying it was not.

“Our new research sends a stark wake-up call to school leavers thinking about a career in marketing, management and business,” says Quentin Crowe, managing director of The Marketers’ Forum, which commissioned the study.

“Having been drip fed for years the myth that possession of a degree, in any subject and from any university, is the only way to get ahead in life, the reality seems to be that there are some serious alternatives to three years in higher education and a mountain of debt.”

Asked to consider the impact of professional qualifications on a CV, 48 per cent of HR managers thought that they signified ‘an above average commitment to the applicant’s career progression’; 47 per cent thought they signified ‘a determined individual’; and 37 per cent, ‘a well rounded professional’. Just seven per cent thought that a professional qualification made no difference to their judgment of an individual.

In the past ten years, the number of people graduating from university has gone up by 50 per cent, from 504,000 in 2001 to 762,000 last year, official statistics show. However, the introduction of annual tuition fees of up to £9,000 is expected to make many reconsider their early career route. In addition, competition for graduate roles has never been higher, with final year students making a record number of job applications this year. 

“Our research shows very clearly that a degree takes second place to proven contact with employers, demonstrable business experience, and relevant professional qualifications,” said Crowe. “Our advice is to think twice about university and explore other options first.”