<p>This study explores differences in average human capital returns over time and different employment structures between workers with and without a university degree in Vietnam. The authors applied the Heckman model combined with the Propensity Score Matching methodology to estimate the Human Capital Return using the secondary datasets from Vietnam Labor Force Survey from 2013 to 2021. This paper highlights that the human capital returns between those with and without a university degree are gradually narrowing, while experience, skills, and the ability to adapt to technology can be considered in recruitment, especially in high-tech businesses such as information technology and finance. Increasing skills can reduce the earnings gap between workers with and without university degrees in high-skill industries. The study proposes shifting the focus from academic knowledge to vocational training and practical skills to meet labor market needs.</p>