A university degree provides the best chance of professional success in life
There is a wide-ranging scholarly debate on whether a university degree provides the best chance of professional success in life. Indeed, having earned a degree provides people not only with a professional qualification but primarily the ability to earn more money which is the driving force to study at a university in the first instance. University degrees are demonstrated to enhance career prospects, job satisfaction, and financialstability in a social class system (Dahelely, 2016). “Social stratification refers to a system where by a society ranks categories of people in a hierarchy” (Macioinis, 2005, p. 190).
Furthermore, employment prospects are demonstrated to be better for Russell Group graduates. Russell Group is anassociation of24 research-intensive institutions, in the United Kingdom (Official Russell Group, 2016).They are nationally recognised as the most prestigious universities in the country (Havergal, 2016).
Moreover, there is recognition that certain professions require a university degree. Career paths such as teaching, medicine and law are traditionally taught at undergraduate degree level. Optional paths can be taken for many professions such as accounting and theatre studies (Complete University Guide, 2016). Indeed, these degrees not only offer the best chance of professional success in life but they also offer guaranteed and generally high income (Complete University Guide, 2016).
However, there is recognition that global entrepreneurs such as Bill Gates, Simon Cowell and Lord Alan Sugar are not formally trained. Bill Gates is the richest man in the world, with a net worth of $81.7 billion (Forbes, 2016). The co-founder of the Microsoft Corporation dropped out of Harvard University in 1973. Although, university education is highly regarded in British society, a degree is not the only path to achieve professional success in life.
Despite this, a further insight into academic sources demonstrates that university graduates have a higher employability rate. According to Daheley (2015) ‘the rates for graduates in senior positions are 56 percent and 17 percent for non-graduates’. This supports that a university education prepares graduates for the necessary skills in career progression. Furthermore, university graduates are demonstrated to be more financially stable (Daheley, 2015). According to the BBC andDaheley, (2015), ‘the median salary of a university graduate is £24,000 and £6,000 more than a non-graduate’.
Statistically, this suggests that non-graduates are more likely to be disadvantaged in the social class system. On 2nd April 2013, the results of the Great British Class Survey (GBS) concluded that there are seven social classes in Modern Britain. The Elite are at the top of the Social Class System, with 6 percent of the population classified as the wealthiest in the country. In...