Discussion in 'Economics' started by krazykarl, Dec 5, 2008.
The unemployment rate, after today, for those with a college degree is ~3.1% nationally. Discuss.
Bursting bubble in the financial services sectors.
I feel that the higher education system is the next shoe to drop after credit cards. Tuition prices are too high for no good reason. That being said, the job market is -ok- for those with degrees and experience right now.
US tuition isn't as bad as I thought. Still too high at 13K - per year - for a good school:
Where does the money go?
Each student pays 13K a year for 10 classes.
So each class costs 1300$ per student.
Each class has roughly 50 kids (give or take).
So thats 65K a single class brings in (50 kids x 1300$ each = 65K).
Prof time is 5 hours a week (max) for 3 months = 60 hour total commitment for 1 class.
So between the University and the Prof, they take in 65,000$ for 60 hours of time.
Lets say a PHD makes 100K a year, teaching 25 Hours a week (5 courses per semester x 5 hours per course).
Also, lets assume these dog fuckers take Summers off for "research".
So, after 1 Semester and 5 courses taught:
Less Prof Salary............50,000$
= 275,000$ Left over for the University!!
FROM 5 COURSES.
Seems like another huge ripoff.
Thats just 5 courses.
Major universities teach 50, 100, 200 courses per Semester....
I bet you never knew most major Universities do research?
I did. And factored that it in, Surdo.
25 Hours of class + 15 hours of research + summers off, for research.
Still universities are making hand over fist.
You could cut Prof time in half, pay 100K PER SEMESTER for 2 profs teaching 12.5 hours a fucking week, and the university is still PROFITING 225K FROM 5 COURSES.
You tell me where the money is going
Football teams and administration salaries
The college unemployment rate is FAR higher than 3.1%, I guarantee it! The majority of college aged people are not being included in the calculation.
Lets say we've got two dog-fuck profs on the dole.
How many back-room admins do we need for 300 kids who occasionally pass through the "Registrars Office" (fond memories to drop some course, change their major or file for convocation?
Perhaps 1 full-time admin per 100 students?
So thats 3 full-time admins, making 40K a year, working 3 semesters = 13K per semester x 3 of them = 40K Admin expense for one Semester.
So thats 325K revenue (for 300 kids x 1 semester)
Less 100K for 2 PHD Loafers.
Less 40K for 3 Admin.
Thats 180K left over for the Football Team.
This is what I heard on bloomberg this morning: 3.1% for people with college degrees.
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