Academic inflation is the process of inflation of the minimum job requirement, resulting in an excess of college-educated individuals with lower degrees (associate and bachelor's degrees) competing for too few jobs that require these degrees and even higher, preferred qualifications (master's or doctorate degrees). This condition causes an intensified race for higher qualification and education in a society where a bachelor's degree today is no longer sufficient to gain employment in the same jobs that may have only required a two- or four-year degree in former years. Inflation has occurred in the minimum degree requirements for jobs, to the level of master's degrees, Ph.D.s, and post-doctoral, even where advanced degree knowledge is not absolutely necessary to perform the required job.