Thirty-two percent of U.S. employers now hire college graduates for jobs that were historically held by high school graduates, according to a study from CareerBuilder. The trend is most prevalent among financial services organizations, but it spans across various industries.

“Employers are filling more entry level functions with educated labor,” said Brent Rasmussen, president of CareerBuilder North America. “While some of this may be attributed to a competitive job market that lends itself to college grads taking lower skill jobs, it also speaks to companies raising performance expectations for roles within their firms to enhance overall productivity, product quality and sales.”

Study findings include:

• 18 percent said they have increased their educational requirements for jobs over the last five years;
• 54 percent reported that they require an associate’s degree or higher for their positions;
• 44 percent require a four-year degree or higher;
• 37 percent of employers said they are unlikely to promote someone who doesn’t have a college degree;

The study was conducted online by Harris Interactive on behalf of CareerBuilder among more than 2,611 hiring managers nationwide was in the month of November.