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IMO this has more to do with the huge price they paid for it rather than the degree itself. One can be a government major but still come out whole if he/she paid only $10K/year in a state U as opposed to another who paid $150K total.
Unlikely given high real estate costs in the city. Even finance companies are relocating to cheaper RE markets.
That's actually past tense. Back office functions, human resources, and even things like trading have long moved out of the city. That is, the remaining positions (keep in mind that with the 2008 economic collapse some banks disappeared and a lot of positions were made redundant as failed banks got taken over by bigger banks).
What remains in the city as far as finance goes are the top executives and deal makers at the top banks. A lot of hedge funds, mutual funds, etc. moved out to the suburbs awhile ago as well.
Its why Bloomberg diversified the city away from being so dependent upon finance, and why he expanded investment in education, film, television, the tech sector, etc.
I agree. NYC in a business sense is not known for Lassies afaire. Many finance companies are relocating to the suburbs as of lately.
The other thing is, modern factories are huge. They'd have to acquire whole blocks do something like steel or auto manufacturing. Its just not happening due to the massive real estate costs, but manufacturers have no special need to be in a big city.
The nation itself still does some manufacturing, Boeing airplanes are made here, ships are made here, Intel microprocessors are made here. Automobiles are made here. Drugs/pharmaceuticals are made here. High end computers (mainframes and major servers) are still made here. Processed foods like ice cream, pasta, and cookies are made in factories here.
No doubt outsourcing has effected American manufacturing big time. But its dishonest reporting by some media outlets to make it seem as if no manufacturing is done here. That simply is not true.
That's actually past tense. Back office functions, human resources, and even things like trading have long moved out of the city. That is, the remaining positions (keep in mind that with the 2008 economic collapse some banks disappeared and a lot of positions were made redundant as failed banks got taken over by bigger banks).
What remains in the city as far as finance goes are the top executives and deal makers at the top banks. A lot of hedge funds, mutual funds, etc. moved out to the suburbs awhile ago as well.
Its why Bloomberg diversified the city away from being so dependent upon finance, and why he expanded investment in education, film, television, the tech sector, etc.
The largest employer in NYC is still finance with more than 300,000 workers. Only less than 5% of that is comprised of executives and deal makers. The vast majority of these positions are still desk jobs. The movement outside the city is ongoing. It is not work in progress. It is being delayed somewhat by tax incentives granted by the city to companies to keep jobs there.
The next largest employer is...the government. The three largest agencies employ nearly 300,000 workers. So it turns out that it is the government that keeps the employment numbers up.
Media does not even account for 10% of the total job market and neither does tech, but the movie industry is a big presence with 100,000 workers. However the industry is not a major GDP driver like finance once was.
So when you look at the whole picture, a large chunk (and soon, the largest chunk) of the job market is comprised of a non producing sector.
You're right, to a degree. Most people don't have a strong enough background in math, but all thats needed is college algebra or above to get into aforementioned programs without some type remedial work. I would know because I attended city tech school and my first major (before I switched out) was electrical engineering technology.
Secondly, I never stated there would be a huge influx, it's was a hypothetical statement as the wording clearly indicates. (If, not when)
Tech jobs are being outsourced to foreigners because of corporate greed and their cost/benefits analysis model. Issuing H1B and L1 visas to high qualified, but cheaper labor. It's an easy way to circumvent the hiring American workers. These workers usually send money back home, inflating GDP levels while crippling the economy by take money out and not paying taxes on earned income if they don't meet the in country time requirements.
"Paid well" is subjective. They can make easily make an average U.S. salary ~40-50k, after a couple years. EMT's if they upgrade from basic certification or into paramedics. Respiratory therapist can pull in 50-60k a year. Not bad for only 2 years of college or so IMO.
Overtime is a federal requirement last I check via the Fair Labor Standards Act. Some jobs are exempt but not all (tech) jobs. There are many positions that don't pay it because they are salaried job but many others jobs that still pay prevailing wages
But I digress... it's a moot point. My point was to give examples of the reasons why American labor is inherently more expensive than outsourced labor in other countries.
High tech can be outsourced (as explained above) but I agree on the inferred point at there having to be some type of educational reform to stop the hemorrhaging of jobs from our economy. High tech is the wave of the future.
Yes you are correct you only need algebra to get into these programs. But I can assure you a person getting a GED or just graduating HS with algebra will probably not pass the Algebra 2(remedial), and Calculas, as well as Physics 1 and 2 required for the program you were in at City Tech. They should have taken Calculas in Physics in HS to get a jump on the college level required at City Tech.
We need to get this message out to young students now. Government jobs at all levels in all states need accountants and auditors, however most students will not be encouraged to take the necessary calculas classes in HS to get a jump on the mathematical requirements to become an accountant or auditor. These same courses can also help students wanting tech or medical careers and they can have those choices if properly prepared.
NYC is now hiring very low wage and very high wage people. There is a long line for those seeking employment for salaries in between low and high.
The salaries you quoting are after how many years of working? 5 or more? Then there really is no raise due to inflation etc. Try paying rent and raising a family on those salaries starting out now in NYC. They may be good if the person moves out of city, upstate or elsewhere. But again the competition is stiff.
The Senate and Congress quietly passed a law while the Bush Administration was in office that practically abolished overtime pay increases, many jobs in NYC are unionized and still pay overtime increases so many people are not aware of it. While it was being discussed in Congress and the Senate I sent emails to all my relatives in other states urging them to call their Senators and Congressman, most did not understand until after the law was passed and they are feeling the effects of it now. This law also makes overtime mandatory if the employer requires it.
I did not name every job that can not be outsourced. Also if people have the education and experience they can band together and create their own companies. We should not feel defeated, and think our fate lies in the hands of a few greedy people that would rather see the country fail, than to give up a few billion, out of hundreds of billions of dollars.
Yes you are correct you only need algebra to get into these programs. But I can assure you a person getting a GED or just graduating HS with algebra will probably not pass the Algebra 2(remedial), and Calculas, as well as Physics 1 and 2 required for the program you were in at City Tech. They should have taken Calculas in Physics in HS to get a jump on the college level required at City Tech.
We need to get this message out to young students now. Government jobs at all levels in all states need accountants and auditors, however most students will not be encouraged to take the necessary calculas classes in HS to get a jump on the mathematical requirements to become an accountant or auditor. These same courses can also help students wanting tech or medical careers and they can have those choices if properly prepared.
So the answer is many HS graduates do not meet even HS calculus and physics requirements and are therefore not qualified to take technical AA courses in the CCs (let alone engineering programs in universities). Sounds very encouraging!
So the answer is many HS graduates do not meet even HS calculus and physics requirements and are therefore not qualified to take technical AA courses in the CCs (let alone engineering programs in universities). Sounds very encouraging!
Unfortunately this is true. I saw a documentary about students in an Palestinian village that were studying a form of Algebra equivalent to our college Algebra that 2nd year college engineering students study but they were about in the 11th grade. They lived in low income area and were being taught outside in a tent. The weather was warm so that may have been normal for them. But the point is that they were much more advanced. These are the type of students that come here from all over the world and do so well in our math and science based courses from all over the world, and try to tutor the students born and educated here. But usually the gap is too large to bridge.
The largest employer in NYC is still finance with more than 300,000 workers. Only less than 5% of that is comprised of executives and deal makers. The vast majority of these positions are still desk jobs. The movement outside the city is ongoing. It is not work in progress. It is being delayed somewhat by tax incentives granted by the city to companies to keep jobs there.
The next largest employer is...the government. The three largest agencies employ nearly 300,000 workers. So it turns out that it is the government that keeps the employment numbers up.
Media does not even account for 10% of the total job market and neither does tech, but the movie industry is a big presence with 100,000 workers. However the industry is not a major GDP driver like finance once was.
So when you look at the whole picture, a large chunk (and soon, the largest chunk) of the job market is comprised of a non producing sector.
The government itself will likely get cut in NYC, due to federal cutbacks in funding. That should lead to a drop in office space rentals in the city.
Actually, from time to time some finance companies have threatened to move their entire headquarters out (so did Nasaq and the New York Stock Exchange). They stayed due to tax incentives.
But truthfully, a large number of desk jobs have already been moved out of the city. I know Goldman and Merrill Lynch (now Bank of America) do a lot of work out of Jersey City. The insurance industry moved a number of operations upstate and to CT.
I think moving jobs out of NYC is only partially because of the cost. If Manhattan were to be ruined by the next hurricane, we would need the banks and financial system to still be operational. So for that reason alone they must have enough operations in other places to ensure that they still operate. Their networks have back up servers and it departments in multiple locations. And business is arrange so that if they had to, they could quickly shift a lot of work that is still done in NYC to other locations in the event of an emergency.
The next largest employer is...the government. The three largest agencies employ nearly 300,000 workers. So it turns out that it is the government that keeps the employment numbers up.
So when you look at the whole picture, a large chunk (and soon, the largest chunk) of the job market is comprised of a non producing sector.
I also want to point out that some government agencies are big money makers, they are not all non producing.
So the answer is many HS graduates do not meet even HS calculus and physics requirements and are therefore not qualified to take technical AA courses in the CCs (let alone engineering programs in universities). Sounds very encouraging!
Since many have mentioned financial companies, there's another issue in that all the top investment banks/funds/tech companies mainly hire from so called target schools and not CCs or even 90% of all other four year colleges whether public or private straight out of college without work experience anymore. You hear complaints from all the big tech/financial companies about the lack of engineering/computer science majors graduating from the US, but in fact there are plenty that just aren't employable by those companies' standards. Hell, I knew enough of non-US residents coming out from the IVY's with a quantitative graduate degree that can't find a job.
Unfortunately this is true. I saw a documentary about students in an Palestinian village that were studying a form of Algebra equivalent to our college Algebra that 2nd year college engineering students study but they were about in the 11th grade.
This doesn't make sense. Most US college engineering students will have completed elementary algebra before entering college; many will have completed 1 or 2 years of calculus, the rest will take calculus their first year.
There are a number of advanced forms of algebra, but aside from Linear Algebra, none would likely be of interest to an engineering student. And Linear Algebra is actually pretty simple; strictly easier than integral calculus, I would say.
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