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I can't tell you what to believe and what not to believe. You seem to feel very strongly that a college degree is worthless as far as it relates to financial success. However, I've seen nothing that suggests an individual would fare better financially by not attending college. I'm not debating that there aren't very successful people in this country without college degrees. But overall, a person who has graduated from college stands a far better chance in the job market as well as financially stable than someone with only a highschool education.
Men age 25 or older:
With Highschool Diplomas/no college: Median earnings= $652/wk.
With some college or Associate's Degree: Median earnings= $749/wk.
With Bachelor's Degree or above: Median earnings= $1165/wk.
Women age 25 or older:
With Highschool Diplomas/no college: Median earnings= $561/wk.
With some college or Associate's Degree: Median earnings= $659/wk.
With Bachelor's Degree or above: Median earnings= $1001/wk.
Overall Unemployment Rate in 2012:
Highschool Diplomas/no college: 8.3%
Associate's Degree: 6.2%
Bachelor's Degree or above: 4.0%
Workers Living in Poverty (working poor) 2012:
Highschool Diplomas/no college: 9.2%
Associate's Degree: 4.6%
Bachelor's Degree or above: 2.0%
Every single measureable that I've found suggests that earning even an Associate's degree significantly raises the possibility of achieving financial success. Attaining a Bachelor's degree or higher raises that possibility even that much further. The median cost of a 4-year degree at a public in-state university is $64,000. Over the course of someone's lifetime, an individual with a bachelor's degree on average will make $2.1MM vs. $1.2MM for highschool graduates with no college. A $64,000 investment in order to earn an average of $900,000 more than non-college grad counterparts along with increased job security and mobility seems like a pretty good investment to me.
You also have to remember that these stats take into consideration people that have been in the workforce for a very long time. It wasn't until the recession that the value of college degrees has truly come into question. Only half of my graduating class in 2011 could find jobs and one third had to move back in with their parents.
There are many roles where a college degree is still required (career where a degree is acquired en route to licensure - think CPA, some medical roles), but overall, I see many schools, even low cost public ones, as no longer worth the investment.
The data we have for this wage disparity seems to be tracking wages before the 2008 recession and jobs blowout. Even as recently as ten years ago, graduating college students didn't feel like they'd end up at McDonald's or Starbucks for life, and they usually didn't. The "better" majors still got the best "jobs," but there were enough other, more generalized jobs to keep most graduates out of permanent fast food and retail careers.
My alma mater, East Tennessee State University, now costs $8,000 annually in tuition fees. It was barely $5,000 when I started in 2004. The local economy wasn't great then, but was leaps and bounds better than it is today. Given the results I've seen from my peers, the only degrees that were worth anything are health care related degrees and education. Most of the graduates I know, even in what should be decent fields like accounting, finance, and computer science, are grossly underpaid or underemployed. However, a lot of this is more of a local issue than anything else.
If you can go to an Ivy and make us of the top notch connections and world class education, then you're probably going to be fine. I doubt many Wharton graduates end up at Starbucks. If you can go to a state flagship or attend college in an area where the economy is otherwise healthy, then that will tremendously help. The big money pits are the traditional, four year liberal arts colleges - there simply isn't enough "slack" in the economy for such an expensive education with so little "value" to corporate America, and colleges in areas where the economy is depressed. Colleges in depressed areas are unlikely to have the connections needed to place graduates in strong jobs.
This debate can go on and on and on and on but the bottom-line is..... if you think it will help you, great... go to college and get a higher education and learn to become a responsible adult and earn that degree. If you think college is a scam that sucks the money out of you then fine.. dont go.. stay at home and good luck to you.
That's that... and that's your choice. I for one wouldn't be where i am today without going to college and earning my degree that's for sure.
Some people wonder why kids don't seem to "care" about school these days.... it's because of threads like this where people try to convince everyone that it's not worth their time.
I don't think a college degree by itself will get you ahead. You'll need ambition, and if your pursuit of college is to jump start your grand career goals, then it may help.
College degree or not...I am shocked to see that men, in this day and age, still make more than women.
I know many with degrees that don't even work in the field they studied in. I've heard from several different sources that the only degree that really gets you anything is a masters.
This is unfortunately true. A previous colleague and I were hired around the same time for the same job title. I am more educated and from top-tier schools.. guess who makes more? And it wasn't because I didn't negotiate - I did.
College degree is good, it opens doors.
BUT, from here on in, the doors are different.
The doors are for jobs that CAN NOT BE OUTSCOURCED.
So tell everyone you know, whatever degree they go for,
make it in a profession that you can't outscource.
I'm serious. That is the future, from here on in.
Doctors, Nurses, Most hands on healthcare, only hands on,
Pharmacists, clerks at the pharmacy, (most drugs are manufactured
in China now),
Mechanics of all sorts that they have to physcially do the work.
Housekeepers, lawn mowers, think physical presence, and they will be
fine.
All other jobs are going to be shipped over seas.
Oh, by the way, Horticulture is coming back big time. Just in case
anyone knows someone interested in farming. All kinds of farming.
College?
Yea, there is a place for college education, but when your car is stuck in
snow and you call someone to come tow you to the garage, the guy who
drives the tow truck doesn't need college, and either does a plumber, who
makes more than a doctor at times.
There are many roles where a college degree is still required (career where a degree is acquired en route to licensure - think CPA, some medical roles), but overall, I see many schools, even low cost public ones, as no longer worth the investment.
The data we have for this wage disparity seems to be tracking wages before the 2008 recession and jobs blowout. Even as recently as ten years ago, graduating college students didn't feel like they'd end up at McDonald's or Starbucks for life, and they usually didn't. The "better" majors still got the best "jobs," but there were enough other, more generalized jobs to keep most graduates out of permanent fast food and retail careers.
My alma mater, East Tennessee State University, now costs $8,000 annually in tuition fees. It was barely $5,000 when I started in 2004. The local economy wasn't great then, but was leaps and bounds better than it is today. Given the results I've seen from my peers, the only degrees that were worth anything are health care related degrees and education. Most of the graduates I know, even in what should be decent fields like accounting, finance, and computer science, are grossly underpaid or underemployed. However, a lot of this is more of a local issue than anything else.
If you can go to an Ivy and make us of the top notch connections and world class education, then you're probably going to be fine. I doubt many Wharton graduates end up at Starbucks. If you can go to a state flagship or attend college in an area where the economy is otherwise healthy, then that will tremendously help. The big money pits are the traditional, four year liberal arts colleges - there simply isn't enough "slack" in the economy for such an expensive education with so little "value" to corporate America, and colleges in areas where the economy is depressed. Colleges in depressed areas are unlikely to have the connections needed to place graduates in strong jobs.
I don't think that is a local issue. You will find it is pretty common nation wide these days. lol.
Jobs like diesel mechanic, HVAC technician, heavy equipment operator, etc. may pay well and really can't be sent to India, but they're not what a lot of college-bound kids are seeing themselves doing. Most parents probably want to see their kids in a non-"greasy-dirty" career.
The Facebook generation would rather be working a keyboard than a torque wrench.
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And it wasn't because I didn't negotiate - I did.
