I always wonder how they measure “graduate jobs”. My first job out of university was an entry level job for a local charity. I’m sure it would never have made the radar in any kind of survey of the number of graduate jobs available that year. It was never advertised. I got it thought a friend-of-a-friend. But my employer was looking for a graduate who would work for not very much money. And I was looking for gainful employment. I know plenty of people who have had similar career paths—not a formal graduate scheme as such, but a series of jobs that required graduate credentials.
That said, I think degrees have been devalued in this country by degree granting powers being given to too many institutions (e.g. the newer “university colleges” or the likes of CoL and BPP). Also, the subjects that people can study for a degree (e.g. used car sales or travel and leisure management). These are respectable vocational skills, but should not be dignified by being classed alongside academic subjects. And they don’t necessarily need three years of full time academic study to reach a level of competence that allows a person to be competent in that area of employment.
Britain needs to work out what its universities are for—research? teaching traditional academic subjects? preparing people for niche employment opportunities? keeping kids off the streets? Each of these is a worthy goal, but it’s hard to combine them all with universities trying to be all things to all people. Once we know what we want universities to do, we can work out how much money it will take to do it and where cuts can be made.
We are heading for an economy dependant on a more highly skilled workforce. Sadly, some people are not up to taking university degrees and highly skilled jobs. But anyone who is should have the opportunity to do so.