College Degrees More Expensive, Worth Less in Job Market

I'd have to disagree with the article in posted originally. There's statistical evidence that contradicts the author's conclusion.

See here:
http://econompicdata.blogspot.com/2009/01/less-education-hurt-everyone-unmployed.html

 

I do see a future where a 4 year degree will be required even to work in a fast food restaurant flipping burgers.

A 4 year degree in Hamburgerology for example.

 

Hoffmanw,

With all due respect, your figures are a bit off. Your figures could have been checked in 1 minute with a google search (on the first page) but as is common today, you just accepted a number you heard or read and didn’t think about it yourself. Exactly what is wrong with the USA today.

http://www.gatesfoundation.org/topics/Pages/high-schools.aspx

This link was on the first page and would probably have been at the top if there weren’t a bunch of links to how much worse the these two rates are for ethnic groups unfortunately. That 70% is the graduation rate of HS, not college. The college graduation rate is near were it always has been, just under or around 50%. And with the debt and rising costs of college, that number may go down in the next generation (I.E. Cali raising tuition 32% this year and pledging the same next year I believe). Don’t forget a fair percentage of those who start college don’t finish. So they have debt and no degree.

While I do agree with you that there are plenty of those who have what many would be deemed worthless degrees (i.e. art history, communications and so on) they are still far better prepared than the 30% who didn’t graduate HS or the 50% of those who do who are not ready for the real world. Yes, debt levels are higher on college grads than ever. But they are still far better off than the rest. Have you read the threads here (or any forum)? You will see that most can’t spell or right a coherent sentence with a roadmap. The only people who say it doesn’t matter are the ones who can’t do it. Then they will wonder why they weren’t hired for that entry-level job or any job. They will blame everyone else for keeping him or her down instead of where the blame falls, with themselves.

Yes, I know people from all groups. For just one example, I know one guy (a decent guy) who works for friend of mine who barely graduated HS. He makes 8.50 an hr. and his biggest priority is weed and cigarettes but he thinks I have it easy because I take vacations when I want and have a nice car. Need I say more?

If you think the college grad has it bad, what do you think that guy who barely graduated HS (or worse didn’t) and now is 20 with a kid is going to do? Fast food, the loading dock, a gas station or retail come to mind. The days of finding a good manufacturing job and living a good middle class life is over. These people are screwed and there are a lot of them. So when trading doesn’t pan out for you (as the percentages say it won’t), which group do you want to be in? The fact is the standard of living for the droves of people who think they are entitled to being comfortable will have a lower standard of living while blaming everyone else for it.

So while I agree that the recent college grad has it tougher than almost any previous generation due to pretty bad timing (and to certain extent an entitlement complex), they are still far better off now and in the long run, than those farther down the food chain. The haves will be supporting this growing group of have nots for a long time it seems. And our government is encouraging that dependence at an ever-increasing rate, but that is a different conversation.

Good trading

BM

 

Sorry. I couldn't help it, lol.

 

Steve Jobs, Bill Gates, Dave Thomas did not graduate from college.

 

college degree is the ransom you pay so you can front run someone smarter than you out of a job.

 

Nor Tiger Woods, John McEnroe.

 

Same for engineers. We have the FE(Fundamentals of Engineering) then after five years of work experience you can go on to obtain your PE(Professional Engineering license).

 

That is pretty bad Aegis even though I know you are kidding me. I usually proofread every post but still screw the pouch occasionally. I nor anyone else demands perfection but a bare minimum standard is not too much to ask.

No one is arguing you can’t be successful if you don’t go to college, as there are plenty of people that are. I thought is was obvious though that for every Bill Gates, there are 1000 who don’t have much measure of success. The vast majority of people are still better off having the degree than not. That is all I am saying.

Good trading

TM

 

cost of a college education -- 100K
cost in terms of aggravation --- 200K
planned ROI based on employability afer graduation 0
perspective - priceless