Some of the most successful businessmen are college dropouts: So, is it necessary to get a degree?

College degrees: necessary or a waste of time? The debate continues.

Steve Jobs and Mark Zuckerberg would always be used as the poster boys for debates like this. But let’s not forget that they were dropouts from some of the most prestigious universities in the world; not just any school.

Even so, it’s still possible to have a successful career without a degree. Today, more companies and industries are embracing skill over qualification to provide equal opportunities for all.

Success has different meanings for different people when it comes to their careers. But more often than not, college degrees serve as the foundation that catapults individuals to greater heights when it comes to whatever they want to pursue. On top of that, being a fresh entrepreneur without being equipped with knowledge or industry expertise can lower your odds of success.

If you’re still on the fence, take a look at these 6 reasons that can help you make a more informed decision on your educational journey.

6 Reasons Why a Degree Helps You On the Path to Business Success

1. The Statistics Are Clear - Degree Holders Are More Likely To Succeed & Earn More

This point is probably the most obvious reason why college degrees are still useful in today’s day and age. Multiple graduate employment surveys conducted in Singapore each year have consistently proven that college graduates have more earning potential and higher starting salaries than that of diploma holders.

In traditional companies or large corporations, employers and HR managers are still more likely to prioritise hiring applicants with a degree than those without. This can give you opportunities for promotions, allowing you to hone your leadership skills and put your acquired expertise to the test—something that not all employees have the privilege of having.

Having that powerful piece of paper can make all the difference in your financial stability.

2. You Have A Fall-back Option That Allows You To Build Back Up Again

College degrees make for the best backup plans. In the event that you happen to pursue a specific career path that falls through, you can always go back to the drawing board. Want to switch industries and pursue a mid-career change? Having a degree would make it a whole lot easier, although there may be challenges.

Having a degree is like having a free pass that allows you to try again, without having to risk it all and start from the bottom.

Don’t underestimate the importance of having a safety net when it comes to your career.

3. You Get Exposed To Fresh Ideas & Unique Perspectives Crucial For Innovation

The benefits of having a degree not only manifest after you graduate but even as you pursue your degree. The college experience allows students to gain new perspectives through group discussions, brainstorming sessions, and guest lecturers, among many other things.

Interacting with your peers and learning from your professors is another plus that you won't always get when figuring things out on your own.

Ultimately, this can pave the way for creating innovative minds that extend outside of the classroom and into the workforce.

4. You Get To Build An International Network That You Can Tap On

From various societies, clubs, and even your school’s industry network, university is one of the best places to build your network and expand your connections for business success.

This is where you’d meet potential employers at job fairs, future business partners within your cohort, and even professors who could connect you to someone they know in your field of interest.

Can you imagine all the networking opportunities you’d miss if you didn’t pursue a college degree? At the same time, it could get lonely without a sense of community or a mentor guiding you throughout your entrepreneurial journey.

5. You Get To Build Domain Expertise Especially If You Are A Technical Founder

Some may argue that you can always build your domain expertise with hands-on experience.

While you can always learn by doing it yourself, focused and niche degree programs equip you with technical skills that may only be acquired through a university program. Having these skills sets the foundation for what kind of founder you will be and what startup you want to create.

Without a certain level of domain knowledge, this only limits one’s understanding of a problem or business and my present hurdles in their future career paths.

6. You Build Independence & Resilience

College is like a (four-year-long) marathon; not a sprint. To get to the finish line, you need to build a healthy sense of independence and resilience to sustain yourself throughout your journey.

By exposing yourself to different experiences, people, and circumstances, you are essentially teaching yourself how to cope with adverse situations and put your problem-solving skills to the test to find your own solutions.

Experience the benefits of a college degree with IDP today

At the end of the day, getting a college degree will always pay off and take you to where you desire to be in your career growth. It may be an uphill battle, but learning is always worthwhile.

With IDP, our skilled educational counsellors are committed to helping students like yourself take that first step in their undergraduate journey. Our mission is not just to align your goals with the perfect degree, but also to support you throughout the process from start to finish

Book your counselling session and kickstart your university journey today!