YouGov research for the Bank of Scotland found 33 per cent of those surveyed believe university is the best career path, down from two in five (38 per cent) last year.
The proportion of people who feel on-the-job training or an apprenticeship offers the best career prospects rose from 29 per cent to 32 per cent.
Meanwhile, one in 10 Scots said they believe a university education is no longer financially viable.
Of those respondents heading off to university, more than half (58 per cent) said they have enough money for their higher education, while 35 per cent said they will need to find more.
The most popular source of funds is student loans (45 per cent), followed by part-time work (30 per cent) and savings (25 per cent).
Only 15 per cent of those heading to university said they have a partner, family member or friend who will support them financially.
Ricky Diggins, director at Bank of Scotland, said: “While most young Scots still believe that a university education offers them the best career prospects, it’s clear that a growing number are considering the wider range of options available, including less traditional routes into the workplace.
“For those who are heading off to university, managing their finances can be a big challenge.
“Therefore it’s encouraging to see that a significant majority of Scottish students believe that they have access to the funds they need to complete their studies.”
YouGov surveyed 3,039 adults online between December 19 and January 4.