On one side, universities are not vocational schools. First of all, their essential task is to provide students with knowledge since academic qualifications are required in many professions. Secondly, the job market is becoming increasingly competitive and sometimes there are hundreds of applicants for one position in a company. So, every student cannot find a job with his specializing subject and the course may not be useful to employer. For instance, the person who has attained bachelor degree for botany now works for computer-company.
On the other hand, some of university graduates are helpless in their first jobs if they learn theory only at university. Theory is necessary, however, one can’t do everything with theory and he must have practical experience. As I am an obstetrician and gynaecologist, theoretical knowledge is not enough to deliver a baby via vaginally or abdominally. Gynaecological operations can’t be done by theory only. So, medical students have to learn practice and skills as a house-officer to complete the university education.
For the reasons mentioned above, it seems to me that students are more likely to be successful in their careers if they have learned theory as well as practical skills in their universities.