University degree losing importance – The Budapest Times

Written by Christina Vontin

The trend of declining demand for university degrees continues in job adverts.

According to the specialist portal profession.hu, only 21.5% of employers still required an academic degree in 2023. The recruitment agency’s analysis shows a clear shift in employers’ requirement profiles. Instead of formal qualifications, soft skills such as personality, motivation, learning ability and willingness to develop are becoming increasingly important. In a rapidly changing environment, these are the most important characteristics. The spread of a competency-based approach can therefore be explained by the changing labour market.

Nevertheless, university education has not lost its relevance. It continues to impart important competences such as a broad perspective, advanced problem-solving skills and in-depth specialist knowledge. The salary demands of young professionals have risen significantly in the past year: From previously 308,000 forints net to now an average of 383,000 forints (around 950 euros). Graduates of business and technical degree programmes are even demanding an average of around 400,000 forints. Academics with at least ten years of professional experience demand an average salary of between 675,000 and 700,000 forints net per month.