Ernst and Young, one of the biggest accountancy firms in the world, and a major employer of recent graduates, have recently removed their degree minimum requirement for new employees, noting there is no evidence having a degree relates to success for an individual in their career or life (original article here).
As someone who has worked with many successful young professionals, executives, and business owners, and someone with three degrees myself (please don’t judge my nerdiness!) I have to say I agree with the logic of E+Y and applaud their initiative.
If you’re someone who’s striving to find that perfect balance between enjoying your lifestyle today, while still making sure your future is looked after, not settling for the accepted wisdom is something that can benefit you in your career, finances, and personally.
I’ve worked with many successful people with limited formal education, but a real drive to succeed and have seen the positive results. Let me just say, not having a degree definitely doesn’t commit you to mediocrity! Some of my happiest and most successful clients are those who haven’t let formal education limit their career direction and hold them back, and I think many people could benefit from taking this approach when it comes to their work or career.
Personally I must admit that while I have studied extensively, the most important things I’ve learned were from other people who have already tried and tested their techniques, as well as through actually applying concepts in the real world.
There are definitely some things you just can’t learn in books, which most definitely includes how to work with other people effectively, how to pursue your goals single mindedly, and how to push through conventional wisdom to get the outcome you want in any situation.
I do think tertiary study does help someone learn how to actually learn and research, as well as some technical how to work to multiple conflicting deadlines and manage time effectively – I know for me this was a steep learning curve!
It’s great to see progressive employers like E+Y aren’t letting conventional wisdom dictate how they operate moving forward. More companies (and individuals) could learn from this and how to challenge what has been accepted as the unquestionable truth in the past.
This type of thinking is something that will not only benefit big companies like E+Y. People also can often be held back by long held beliefs and acceptance of the status quo – don’t let this be you!
There’s much to be gained from embracing change and challenging assumptions, when it comes to how you measure success, how you progress your career, and also how you use, manage, and grow your money.
Don’t let the way you’ve done things in the past dictate what you’re going to do in the future! It’s been seen time and time again that those with the most success are those who have challenged what has been accepted and pushed forward to cut a new path.
Don’t settle for the status quo!