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Seventy-three percent of graduates now believe their education is worth the cost, according to a survey in the 2024 Cengage Group Employability Report. This compares to 52% in 2023, 68% in 2022, and 56% in 2021.
Michael Hansen“Our 2024 Employability Report reveals post-secondary education is experiencing a pivotal moment,” said Cengage Group CEO Michael Hansen. “The increased satisfaction among graduates and their improved perception of education’s value are encouraging signs that educators are listening and responding to the needs of both students and employers.”
The annual report is based on surveys of 1,000 U.S. employers and 974 recent graduates — those who received a two- or four-year degree or a skills certification within the last year.
The improved perceived value of education flows alongside wants from many graduates to acquire more training in GenAI for work.
The report offers insights into how educational institutions are evolving to close talent gaps and prepare students for an AI-driven future, with a growing emphasis on practical, job-ready skills alongside traditional academic credentials.
The report exposes opportunities to continue driving new value by enhancing GenAI literacy as most employers (62%) expect some level of GenAI competency. For example, about 70% of survey respondents indicated that basic GenAI training should be integrated into courses with more than half of graduates feel unprepared to work alongside GenAI.
Additionally, the report found that AI stirred career doubt for just about half of respondents — 51% of graduates second-guess their career choices due to rapid technological advancements, up from 33% in 2023.
“The data reinforces what most of us are experiencing in the workplace today – GenAI is at the forefront of nearly every conversation,” said Hansen. “This omnipresence can create a great deal of uncertainty and fear, but it is important not to read too much into the sensationalism, and rather, find grounding in the opportunity.”