In today's job market it is far more important to have practical skills than theoretical knowledge. In the future, job applicants may not need any formal qualifications. To what extent do you agree or disagree?

In the era of the 21st century,

job

markets are experiencing rapid changes everyday around the globe and due to

this

trend, practical skills have become far more important than theoretical knowledge. Due to

this

trend, a lot of people believe that formal qualifications will soon be a thing of the past.

This

essay agrees with the argument stated above and will discuss the reasons for the same. Practical skills, in comparison with

qualification

driven knowledge, train an employee better about the on ground skills required for a

job

. Knowledge provided during

qualification

has not been updated with the ever changing landscape of the

job

market as artificial intelligence has impacted major fields around the world.

This

has resulted in a big gap between what is required to be done on

job

Suggestion

the job

a job

and the skills that have been taught during any formal

qualification

.

For example

, major trading courses around the world still teach about manual trading when

algorithamic

of or relating to or having the characteristics of an algorithm

algorithmic

trading is running close to 40% of the trades on the market.

Hence

, the skills being imparted during formal education are outdated and way different from what is

required practically

Suggestion

practically required

. Due to the above mentioned point, employers prefer candidates on the basis of practical skills rather than qualifications. In a world full of qualified professionals, employers look for practical skills, which act as differentiators as the more implementation experience a candidate has, the lesser amount of investment would be required by the company

on

Suggestion

for

the candidate.

For example

, in

US

Suggestion

the US

, recruiters stress more importance on the projects completed by MBA graduates as compared to the subjects studied.

Hence

, employers stress more importance on practical skills as compared to the

qualificational

an attribute that must be met or complied with and that fits a person for something

qualifications

background of the candidate. To sum up, practical skills have increasingly become more important as compared to qualifications.

This

is due to the fact that the skills required in the

job

market are way different from what is being taught during qualifications and the employers prefer candidates with practical skills rather than bookish knowledge.

Hence

, formal

qualification

will be replaced by practical skills in the future.