The same can be said for an MBA. If you're working and the company supports your decision to get the MBA then it's worthwhile but doing it to get a job is a complete waste of time and money. The market is also saturated with MBA's.
The obscene levels of student loan debt new grads are carrying will also slow down their purchase of a house. Current home owners can't buy a house because they can't sell their own so first time buyers are needed to help the housing market along but....but, with all that student loan debt?
I'm completely ignorant when it comes to technology and programing and things of this nature. I was just wondering if as things are becoming increasingly complex how much longer does it take to learn a marketable skill? Or do certain practices just fall away and new students only learn what is the current practice? It just seems like skills have to be so specialized now that the typical college curriculum wastes so much time with meaningless classes. I don't know if this is just a scam or if the powers that be actually think these classes are important. If the situation remains as it is when my kids want to go to college they can enroll in the programs at the local tech school that the major employers in the area tailor make for the school.
I'm glad to know I finished college way back when; when this was still considered the land of milk and honey
My suggestion to anyone looking for work is to move where there is work. Here is the list of states. Start with the state with the lowest rate which is North Dakota and work your way down. http://en.wikipedia.org/wiki/List_of_U.S._states_by_unemployment_rate Lets say you live in California with an unemployment rate of 11%. It may take 4 years for that rate to come down to 6-7%...if it ever does come down. During that time you could be working and making money in one of these other states with less unemployment. There is the FED FRED database where you can search unemployment by city and metro area. Austin has 6% unemployment, no taxes and its a college town. Fun place and Im confident you can find work there. BTW, the 3 job areas which are growing now are healthcare, oil/energy, and education. The job area where you need no special skills is oil/energy. You can start out on an oil rig which is manual labor, but then you work your way up. At age 22, you can either be out on an oil rig making 50 and moving up in the oil industry or sit there jobless or at a waiter job. If I was 22, I would go to Austin Texas or Houston Texas and look for a job on a rig. Learn your way around the oil industry for two years and try to move up. Living in a state with an unemployment rate over 7% will be a lesson in frustration.
For every IT job posted, there are 1000 CVs from India sent in. All it takes is paper work to import one of these guys, so long as you adequately explain the specialized skill they bring.
An mba, like a JD, is very bimodal. If you go to a top 15 school in either, the odds are with you in finding a decent job. If you don't, good luck. It's actually much worse with a bad JD because the degree is not transferable to anything. It becomes almost a second bachelors almost an albatross, while with an mba you can always find some business related job. Still, if you don't get into a top 15 program, just rely on your bachelors and try to make it out there. And for sure don't go private.
For all arguing about government passing bills to keep student loan rates "low" or "high", keeping general rates low, etc... I am a recent graduate, i graduated last june. so you have an idea, my student loans weighted avg rate is 6.5% This is an accumulation of loans from 2008,2009,2010 and 2011. I dont know where you're finding your data or statistics, but student loan rates have been at those levels for years. The highest interest rate on one of my loans is 7.00% Keep in mind, these are all government backed loans. sorry for my terrible grammar and sentence structure, im a little out of it right now.