With changing times, the criteria for obtaining good jobs have also changed. In their report, Harvard economists explain the diminishing value of degrees in the changing market system.

In recent years, due to innovations and upgrades in technology, market competition has increased significantly. Now, to secure good jobs and higher incomes, people are forced to develop skills, which has significantly reduced the value of degrees. As a result, many students worry about whether their degrees will help them secure better job opportunities.

In fact, research by Harvard University economists has highlighted how certificates and degrees have become mere pieces of paper and that the market is experiencing a period of degree fatigue. A degree alone is no longer sufficient to secure a good job.

Once a Degree Was the Golden Key

Harvard labor economist David J. Deming and researcher Kadhim Nore, in their 2020 research, stated that degrees in applied sciences, computer science, engineering, and marketing are now valued as worthless. This suggests that these degrees, once considered the keys to success, are now outdated. Furthermore, even business degrees no longer offer immunity. Harvard Business School reported that even top MBA graduates are struggling to secure high-paying jobs in the market today. Consequently, the sheen of a degree seems to be fading.

Students Unwilling to Take Humanities?

While the state of applied sciences is so dire, the declining interest of students in humanities is also a cause for concern. According to data from the Harvard Crimson, the number of people choosing humanities as a career option has declined. As a result, students have shown increased interest in STEM and career-focused programs. Furthermore, Harvard's 2022 report found that companies now prefer degrees with specific skills and digital literacy over generic degrees.

Which degrees are losing market value?

According to the Harvard report, these 10 degrees are losing their importance and market value:
1. General Business Administration (MBA included)
2. Computer Science
3. Mechanical Engineering
4. Accounting
5. Biochemistry
6. Psychology (Undergraduate)
7. English and Humanities
8. Sociology and Social Science
9. History
10. Philosophy

Which skills will be useful?

According to a 2025 Student Choice report, there is significant market demand for engineering, computer science, and nursing. In such a situation, only those students will be able to survive in this competitive market who, apart from having a degree, will have skills, intelligence, creativity and critical thinking.