Universities insist the degrees they're offering are still relevant, despite a study suggesting otherwise.

An EY study carried out in Australia claims 40 percent of degrees will become obsolete in five years.

Universities New Zealand executive director Chris Whelan told Mike Hosking EY has put out a provocative report to get attention.

He says what's happening around the world is the exact opposite of what EY is suggesting.

"So we're actually seeing more and more young people taking on graduate degrees because more and more of the workforce is requiring those skills."

Whelan says university graduates also have a much lower rate of unemployment than other young people.

LISTEN TO CHRIS WHELAN TALK WITH MIKE HOSKING ABOVE