More than 345,000 people will graduate from university this year, yet 15% of people who completed their studies in 2013 are still unemployed four years later*.
This shocking statistic is evidence of the damage caused by the commoditisation of university degrees, Steam Capital CEO Libby Marshall said.
“Australia has a serious problem and our culture of degree education is not the answer.
“We have developed a culture where people are trapped into thinking to be successful and to have good earning potential you need to have a degree. This is simply not true.
“We have sold a lie to graduates that they have to have that piece or paper or tick that box to get a job. Instead we are seeing more and more graduates working in jobs that don’t actually require a degree.
“For recent graduates this trend towards credentialism paints a depressing picture of underemployment, unfulfilling careers, wasted dollars and lost potential.
“The talk of AI and the irrelevance of education is just making the situation worse. It is shattering the confidence and the career aspirations of people all over Australia.”
Ms Marshall said despite the doom and gloom students graduating from high school or university this year can still build their dream careers.
In 2018, Steam Capital will be conducting three day intensive workshops in Sydney, Melbourne and Brisbane to help job seekers get started on their career path.
“Instead of relying on a degree to tick a box, if you want to build a career you need to focus on showcasing your education, experiences, natural talents, potential and aspirations.
“The challenge is to learn the skills to build a narrative about your unique value, and to develop the confidence and the mindset to determine the career pathway you want and to make it a reality.
“Focus on what YOU want to DO and NOT what you want to BE. Don’t be fooled into thinking the only pathway is a university degree or continuing your studies with another degree.”
*Source: The Australian Federal Government November 2017
