In this article, we will look at the 12 best alternatives to a 4-year college. We have also discussed the decreasing value of college degrees. If you want to skip our detailed analysis, head straight to the 5 Best Alternatives to a 4-Year College.
In recent years, there has been a growing emphasis on alternatives to traditional four-year college degrees due to several factors. One major reason is the rising cost of higher education, which has led many individuals to seek more affordable options. Additionally, the job market's evolving nature demands a broader range of skills and competencies, prompting a shift towards alternative pathways such as vocational training, apprenticeships, and online certifications.
However, it's essential to acknowledge the lasting benefits of a four-year college degree. Beyond providing specialized knowledge in a particular field, a bachelor's degree often cultivates critical thinking, communication, and problem-solving skills that are valuable across various professions. Moreover, a college education opens doors to a broader range of career opportunities and typically leads to higher earning potential over the long term. In fact, there are easy college degrees that are quite high paying as well.
Moreover, data from the Burning Glass Institute highlights a decline in jobs requiring a college education, dropping from 51% in 2017 to 44% in 2021. Similarly, Gallup reports a stark decline in the percentage of young adults viewing college education as "very important," plummeting from 74% to 41% within six years.
Companies like Apple Inc (NASDAQ:AAPL) and Alphabet Inc (NASDAQ:GOOG) are redefining hiring criteria, recognizing the value of life experiences over formal education. This sentiment is echoed in findings from Georgetown University, revealing that while a bachelor's degree holder may earn $2.8 million over a lifetime, non-degree holders can still expect $1.6 million in earnings, challenging conventional notions of the economic benefits of higher education.
Moreover, in 2016, International Business Machines Corp (NYSE:IBM) introduced "new collar" roles, emphasizing transferable skills over bachelor's degrees. By 2020, 15% of hires included positions like application developer and cyber security specialist. In 2021, International Business Machines Corp (NYSE:IBM) eliminated degree requirements for over half its US openings. The P-TECH program aided underprivileged students in acquiring tech skills and securing International Business Machines Corp (NYSE:IBM) internships. While International Business Machines Corp (NYSE:IBM) maintains lower degree requirements for roles like software QA engineer and network administrator, just 31% of software developer/engineer positions mandate a degree — the lowest among tech competitors per Burning Glass Institute data.
Furthermore, the US Bureau of Labor Statistics reports an average of 12 job changes over a career, emphasizing the importance of adaptable skills garnered from varied experiences. Initiatives such as Alphabet Inc (NASDAQ:GOOG)’s career certificates and innovative programs like Minerva University's immersive learning confirm the growing emphasis on experiential learning.
Another observation we tend to find is that inflation, whether in currency or credentials, obeys the principles of supply and demand. Just as rare items like vintage baseball cards command high prices due to scarcity, rare skills in the job market yield high wages. However, the widespread adoption of college degrees as a signaling tool has led to their devaluation. With 99.5 million Americans now holding bachelor's degrees, the once-esteemed credential has become commonplace. This phenomenon, known as credential inflation, sees jobs that once required only a high school diploma now demanding a bachelor's degree. Consequently, many recent graduates find themselves overqualified for low-paying jobs, contributing to underemployment rates. To read about unemployment rates, see the countries with the highest unemployment rates.
12 Best Alternatives to a 4-Year College
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Our Methodology
To list the best alternatives to a 4-year college degree, we have looked at alternatives with 4 major traits. Firstly, we tried to include options that offered specialized training or are specific in nature. Secondly, we identified options that provided hand-on experience. Thirdly, we looked at degree alternatives that were largely accessible. Lastly, we selected alternatives that aligned with current industry demands and trends and hence, came with high employability chances. We tried to score each alternative out of a total of 40 on the basis of consensus about the presence of these traits. We utilized Reddit as our primary source of consensus. The list is presented in an ascending order.
By the way, Insider Monkey is an investing website that uses a consensus approach to identify the best stock picks of more than 900 hedge funds investing in US stocks. The website tracks the movement of corporate insiders and hedge funds. Our top 10 consensus stock picks of hedge funds outperformed the S&P 500 stock index by more than 140 percentage points over the last 10 years (see the details here). So, if you are looking for the best stock picks to buy, you can benefit from the wisdom of hedge funds and corporate insiders.
12. Volunteer Work at Non Profit Organizations
IM Score: 20
Volunteer work at non-profit organizations offers practical, hands-on experience in real-world settings, fostering valuable skills such as teamwork, communication, and problem-solving. Unlike a four-year college degree, volunteering provides immediate engagement with societal issues, promoting empathy and social responsibility. It allows individuals to explore different career paths, gain insights into various industries, and network with professionals. Additionally, volunteering can lead to job opportunities and personal fulfillment without the financial burden of college tuition. It can also lead to inner sense of purpose and happiness. To read more about such jobs, see the happiest jobs in the world.
Volunteering is also a great option if you are struggling to find a direction. It is also one of the best alternatives for college dropouts.
11. Get an Associate Degree at a Community College
IM Score: 21
Getting an Associate Degree at a Community College offers several advantages over a 4-year college degree. Firstly, it's typically more affordable, allowing students to save money on tuition and fees. Additionally, community colleges often offer flexible schedules, making it easier for students to work while attending school or to balance other responsibilities. The smaller class sizes can provide more personalized attention and support. Associate degrees can also lead to some of the highest paying jobs as well.
10. Start Freelancing
IM Score: 22
Freelancing offers flexibility, autonomy, and potentially higher income without the time and financial commitments of a four-year college degree. It allows individuals to capitalize on their skills immediately, gaining practical experience while networking and building a portfolio. Additionally, freelancing offers the opportunity to work on diverse projects, fostering continuous learning and skill development. With the rise of remote work and digital platforms, freelancers can access global opportunities, transcending geographical limitations. In exceptional cases, it is one of the easiest and high paying alternatives to a 4 year college degree.
9. Get an Internship or an Entry Level Job
IM Score: 24
This is one of the best options other than college after high school as choosing to pursue an internship or an entry-level job over a 4-year college degree can offer several advantages. The real-world experience can often be more immediately applicable to a career path than theoretical learning in a college setting. To read more about this, see the highest paying entry level jobs with no experience.
8. Join Apprenticeship Programs
IM Score: 26
Apprenticeship programs are one of the most popular alternatives to college degree as offer hands-on experience and specialized training, often tailored to specific industries, providing immediate applicability of skills. For instance, in fields like software development, apprenticeships such as Alphabet Inc (NASDAQ:GOOG)’s apprenticeship program offer direct mentorship from industry experts, real-world projects, and potential job placement.
7. Get Microcredentials and Nanodegrees
IM Score: 27
Microcredentials and Nanodegrees offer focused, specialized learning tailored to immediate industry needs, providing a quicker pathway to acquiring relevant skills compared to a traditional 4-year degree. For instance, in fields like Data Science, professionals may opt for a Nanodegree in Machine Learning Engineer, which equips them with specific skills sought after in the industry. In 2024, it is definitely a good alternative to a 4 year college degree.
The Alpahebet Inc (NASDAQ:GOOG) and Udacity Nanodegree program offers courses in various fields like data science, artificial intelligence, and web development. Each Nanodegree typically consists of several courses, providing hands-on projects and personalized feedback. Learners can access video lectures, quizzes, and community support. Completion time varies, with programs ranging from 3 to 12 months.
6. Join the Military Services
IM Score: 30
Military service provides hands-on experience in a variety of roles, including technical, logistical, and tactical positions, which can translate directly into civilian careers. Additionally, the military often offers financial support for further education, including assistance with tuition fees and specialized training programs. Moreover, serving in the military can instill values like teamwork, resilience, and adaptability, which are highly valued in both professional and personal endeavors.
