For decades university degrees have been a must-have for entry-level professional roles.

More job postings do not require a degree

Companies including IBM and Accenture, meanwhile, have invested in hiring routes such as apprenticeships so new recruits can train on the job.

Many graduates are stuck doing jobs that could be done by non-graduates.

Universities, it said, “play a huge role not only in preparing graduates for employment, but also in teaching them crucial, transferable life skills” and growing the economy.

“It’s very hard for employers to qualify workers, which is why they often default to proxies like a college degree,” said Prof Fuller.

The scheme, which gives students greater flexibility to study subjects at different levels

Recognises not everyone is good at everything

Don’t pigeonhole people just by a single metric.”

intrinsic motivation. It is no longer about how people judge you, but about how you want to improve yourself,