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The credential's value doesn't go down for the entity seeking someone with the credential. The value only goes down for the person who has the credential IF the
by Jaygles 6y ago
The credential's value doesn't go down for the entity seeking someone with the credential. The value only goes down for the person who has the credential IF they were deriving value from the exclusivity of the credential.
In other words, the value one gets from the exclusivity of a credential is separate from the practical value of having the credential.
The value from the exclusivity is bound to decrease as a population recognizes that value and rush to claim some of that for themselves which in turn diminishes that value for everyone.
As the value of the exclusivity is removed, the true value of the credential is discovered.
- wccrawford 6y agoIf a credential gets less exclusive over time (meaning they relax the requirements on it) and the same company seeks someone with that credential repeatedly over time, the value that the company expects from that credential does go down.
- fragmede 6y agoLowered exclusivity doesn't require the requirements relax though. If, before, there was one student passing the exam candidate, and now there are 10 passing, where have the requirements been relaxed (assuming there's no cheating going on)? It's less exclusive because now there are ten instead of one (well, eleven total) but the bar hasn't been relaxed, there's just higher supply.
- Jaygles 6y agoA credential becoming less exclusive doesn't necessarily mean the requirements are relaxed. Could mean the requirements stay constant and there are more people shifting their priorities, seeking to obtain it and succeeding. Of course in the real world, supply will react to the increase in demand and those looking to make a quick buck will offer an inferior credentialing service. For example: the fairly recent glut of web dev bootcamps (Of which I am a graduate of one, it can work occasionally). And then things get complicated and every firm tries to filter out unqualified candidates with wild interview processes which leads to countless blogs about the whole situation including the article featured here, which is, at least, tangentially related.