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If a job requires a degree and 1 applicant has a degree, then that applicant gets the job, but if 20 applicants have a degree, then 19 will be out of luck.
well why does it have to be just about getting a job? That's not what universities were invented for. They were invented for the intellectual development of the individual and society at large. There is nothing more important than this and we simply would not be having this discussion without them. There certainly are degree subjects that don't fulfill this, but the ones that do are still there and the non-monetary rewards for studying them are just as great as they have ever been.
The value of a four-year degree has gone down as kids have been herded into college who shouldn't be there. Years ago, kids who weren't "college material" were placed in trade programs. Now, that's anathema to many.
Also, when I went to college, there were no "remedial" classes in English, math, and writing. In fact, one had to demonstrate competency (if not proficiency) in those areas as a prerequiste for college admission.
I think it is a change in the times. Now, there isn't much of an alternative for kids graduating high school. There used to be factory work, military, trade work, etc for those people who didn't want to go to college. Now these are virtually gone minus some trade work. Factory jobs are virtually non existent. The military is slimming down so much that recruiting is by taking the cream of the crop of applicants. Some branches are wanting at least some college. Trade work is still an option, but most are wanting certifications which can take two years or so to obtain. Heck, even some retail positions are wanting some college now. So, what is a kid graduating some high school supposed to do? They end up turning into these fast food workers who demand 16 dollars an hour.
The biggest mistake made is associating value to a degree. The most important consideration is earning power, or how much can you make with the degree or whether you need that degree to make good money.
Training that gives the best bang for the buck is technical training not college degrees. As an example an auto technician graduate can expect $100K a year almost right a way and never worry about having a job. Plumbers, electricians, etc have the same potential.
If what you want is some desk job that pays $50K for just 4 years of your life and student loan debt that may take a decade to pay back the the 4 year degree as little value.
I retired as an engineer for a large company and over the years the 4 year degree became worthless. Every person in the engineering dept had a masters or PHD. In fact I didn't know anyone that was promoted with just a 4 year degree.
BTW we had several employees with MBA's and it was looked on as a worthless degree.
The value of a four-year degree has gone down as kids have been herded into college who shouldn't be there. Years ago, kids who weren't "college material" were placed in trade programs. Now, that's anathema to many.
Also, when I went to college, there were no "remedial" classes in English, math, and writing. In fact, one had to demonstrate competency (if not proficiency) in those areas as a prerequiste for college admission.
I thought of this as well. I think this shows that the level of education kids are receiving at the high school level has dropped. I believe that colleges and universities were seeing that kids weren't prepared for legit college courses and were dropping out. This is why they now offer remedial classes. Also, it comes down to money. Why not offer remedial courses for a fee. Oh, and those remedial courses do not count for credits toward the degree program. Basically, it is free money for the school.
Training that gives the best bang for the buck is technical training not college degrees. As an example an auto technician graduate can expect $100K a year almost right a way and never worry about having a job. Plumbers, electricians, etc have the same potential.
100K? Where are you getting that figure from? Average I am seeing is between 30 and 50. There might be some ASE Master technicians out there making just over the 50K amount, but nowhere near the 100K mark you are claiming.
There might be some outliers making close to 100K, but I'm sure they are in a rare situation that the normal tech out there would not be able to get into.
Having said that, I do agree with you that tech certs can be the way to go for a lot of people and there can be good money in these fields.
Going to elementary school use to give you a leg up, then it became normal to do so. Going to high school use to give you a leg up, then it became normal to do so. Going to college use to give you a leg up, now it's becoming normal to do so.
This isn't a surprise, it's progress, affordability and availability. As more people can access a college education, more people will have one. It use to be very difficult to obtain a college degree. Right now more and more people are attending college, but only about 30% graduate. Those numbers will rise, and one day it will be assumed that your education will extend into your adult years.
What might change is the type of colleges. I see trade schools becoming high learning institutions in the future. You might need a degree to become a plumber. Making money off of education is good business.
I think the value of a degree has certainly been diluted. In the days when relatively small numbers of people obtained degrees, their value was higher, no doubt. But on the flip side, less occupations required a degree. I think that right their is the crux of the issue: Degrees are now required by employers for positions that historically never required one, even entry level. Couple this with tuition costs far outpacing wages/salary in those fields, and I think the ROI on degrees is diving overall. Sure there are specific degrees that buck the trend and will outshine the rest. But first, not everybody can go into those fields for lack of ability, or their isn't enough jobs in those select fields to justify everyone pursuing them, or both.
Basically, what used to be a sure fire way to climb into the upper echelons of the middle class or maybe even into the upper class itself, is now just a way to be make sure you don't get left behind for just about any job, no matter how menial. Yes, degrees have value, but it's more because everyone else has one now and so it's a baseline, not a way to stand out.
100K? Where are you getting that figure from? Average I am seeing is between 30 and 50. There might be some ASE Master technicians out there making just over the 50K amount, but nowhere near the 100K mark you are claiming.
There might be some outliers making close to 100K, but I'm sure they are in a rare situation that the normal tech out there would not be able to get into.
Having said that, I do agree with you that tech certs can be the way to go for a lot of people and there can be good money in these fields.
Your chart shows that automotive tech mechanics make $95K. But I also see another 10-15 titles that make less but sound like the same job. So, I'm not sure what's going on here. I have seen job advertisements that say $100K plus benefits, it didn't say that a certain level of experience was required.
Even if mechanics start at 50K it would be similar to a four year degree income without the expense.
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Making money off of education is good business.
