Is Higher Education Worthless?

AxleIke

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Fair Points All.

Romer, I don't see that experience with hardly any of my friends from college. Its not just my experience I am drawing from. There were the psychology degrees, many business degrees, a religious studies degree, physics, engineering, and a math major. Guys with business degrees are doing very poorly, either unemployed or working low salary, few benefit jobs. Guys with physics degrees are back in school=no work for lower than a masters in that field. Religious studies guy went on to seminary and, from what I've heard, is doing well as an assistant minister at a church. Psychology folks, mostly ladies, are doing well in that they are doing what they love, but are poorly compensated. Engineering guys are doing about as expected, around 50k, but have been laid off and rehired 3x already (one only twice). Math major became a teacher.

I agree that there are more benefits than just salary, but lets estimate 10k ish in benefits. Only my benefits are better than Rachels, and I work for the state. Everyone else I know is not getting near that, and are at decent sized company's. So bump everyone's salary by 10K, and yes, they are doing what I would consider the minimum expected salary for a college grad. Again, except me. I'm still behind. My choice, and my bad. I am rectifying the situation by pursuing further education, as, in the sciences, that opens a lot more doors.

I'm guessing Rachel is a fair cut smarter and is much more driven than my friends, if her father is any indication (I don't know her at all). Meaning, she is above average, and therefore is doing above average in her professional life.

Current tuition rates at a major university would leave a 50k debt very easily for in state students. I don't know rachel's situation, but until you are 23, you MUST submit parental tax information for financial aid. Dependant status has no bearing on financial aid. My fiance's father makes about 60k a year. She was not able to get grant assistance, and had to take out all loans. She did qualify for federal loans, which I did not, but still, getting grants is reserved for only the very poor.

Now, Randy, you are correct, it is by no means any company's responsibility to make sure you are doing well. Absolutely not. That wasn't my point. It was simply that, if you wish to be at that financial position when you want to start a family, a college degree won't get you there. When my parents were college grads, it would have.

You will need a professional degree, and even there, family building will have to wait to early to mid 30's. Given what I've read about how to survive in a marriage, not having to worry about money gives you a MAJOR advantage over those who do.

Financially, if you can make the same and not start out 50k in debt, then again, my point about the uselessness of college is valid. True, I am glad I went to college, and have learned that I will get paid whatever I'm told I'll get paid because college grads are a dime a dozen. However, I don't have the same work conditions as someone who is working construction, and I have a steady pay check.

That is worth it to me.

Again, I remind all that my original post was posted in a different thread. Tim moved it here without the original thread's context. I was responding to a guy who said that he was looking for a job, did not like school, and wanted to ski. I was responding to folks who were advocating that he go back to school rather than do what he wanted. I was offering a contrary opinion.

Now, as to my stereotypical comment. Perhaps you and Romer know more than most. However, I know how my parents generation view college degree's, and it is not applicable for today's youth. Like I said, company's have thousands of college grads to choose from. However, even some of them have told me that college is not enough. Graduate/Professional school is a must.

Some, like Rachel, stand out, and are thus rewarded. But, most of us do not fall into that category. The majority of college grads have really nothing to offer that a company can't find in 100 other applicants. This drives the market value of those jobs down.

Now, true, there are many other advantages of having a desk job versus standing out in the rain digging ditches.

Financially though, if someone doesn't like school, the advantages of college degrees aren't the same as they used to be.

Lastly, it surprises me that you see graduates being lazy, showing up late and leaving early. Both my, and my friends', experiences have been that those people are gone very shortly. Working extra is expected. 40 hours a week will barely keep you employed. If you wish to see a raise, long hours, and high productivity is a must. Raises come regularly, but are generally a percent or so above cost of living. Only one of my friends gets a yearly bonus, and it isn't 1.5%.

Anyway, I will apologize for my generic comment about older members. I agree, it wasn't fair, as you two have clearly a good understanding of what's what. My apologies, and I hope for your forgiveness for an ill conceived comment.
 

Romer

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No problem Isaac

I would suggest your friends with the Business, math and Physics degrees did not market themselves well. I know Lockheed and Raytheon hire those. They use Physics and math degrees for Systems Engineers.

If you just e-mail a Resume in and don't find a way to follow-up, you will likely never get a call

BTW- living at home, you can go to CSU, CU or CU denver tuition/books only for about $8K a year. Now you factor in the $2400 a year colorado stipend and your less than $25K for 4 year education. Yes you either need to live with family or have a job and pay rent somewhere. Metro is even less

http://sfs.colostate.edu/costs/index.aspx

with Sarah's scholorships its $14K a year or $56K, lets say $60K. I was able to work full time while getting an engineering degree as a chef and Bartender which paid for my rent and food while I lived in a different city (Phoenix) from my family. So I was able to just pay tuition and did put most of that on student loans.

Just saying if someone really wants to bust their ass, they can get through college with less $$ owing less $$.

See, after High school, I decided college wasnt for me and I went in the Restaraunt business. After 18 months of that I saw that my life would be about the same in 10, 20 years or maybe I would get my own place, stress over it and watch it go under and have nothing. I was hiring and firing people 10 and 20 years older then me. I decided I wanted a better long term life. Decided I wanted to build Space Ships and Martin Marietta. Moved to Phoenix to go to college, get the degree I needed and came back and persistantly approached Martin Marietta and it took me 6 months to get an interview after I graduated. The guy said he was impressed by my determination. My Dad thought I would never get a job. 21 years later, I had designed, built and launched multiple spacecraft and went for a change with another company. I started with the plan of what I wanted to do and figured out how to make it happen and never gave up.

I hope the first plan of no college and then the change in plans for college helps define why I have the perspective I do. I graduated with a GPA of 2.8 and was below the line of their requirements. I convinced the manager there that my working full time and putting myself through school was an equalizer. You can't do that without being persistant and making contact
 

ScaldedDog

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What Ken says.

My experience was somewhat different from his, but the principles were exactly the same. I got a degree in education (math and PE, the latter of which I loved, mostly because of the physiology) and taught math in Jeffco for nearly ten years before I tired of union run government work. Went back to school at 30, and was a heck of a lot better student the second time around. With no experience in my chosen field (MIS at the time, now called IT), I knew that all I had to sell was an ability to communicate and good grades. It worked, and I've been most blessed.

There are no guarantees in life, but if you're ambitious enough to get a degree in something hard, you're likely to be successful. For those folks, higher education is definitely not worthless.

As an aside, one of the worst things to happen to business in this country is the proliferation of folks with MBA's. It seems that most of them only stayed long enough to hear that, "You can't manage what you don't measure". As a result, micro management has been raised to a fine art, and leadership is rare.

Mark
 

Hulk

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I've heard that 50% of college graduates don't end up working in a career that matches their degree. I don't know the validity of this stat, but I bet it's close to the truth. In these cases, does a degree help them? The answer is maybe:

a) In today's automated HR environment, resumes are often run through software looking for key word matches. If you have no degree, you may be screened out before a human even looks at a single resume.

b) A degree shows that you can stick with something long enough to finish it, and perform at some minimum level. Even if your degree is in English and you are applying for something unrelated, that does mean something.

More than anything, I have learned that success comes from "hustle." If you want a good job, get off your butt and start looking for it. My second job after college resulted because of me calling a single hiring manager about every 2 weeks for six months until he had an opening. When he hired me, one of his other employees asked, "Oh no -- you're not hiring that guy who has been calling here constantly?" Yep: he did. A few years later I was managing the department, including the same person who thought I was a pest. Also: that job was unrelated to my college degree.

You don't have to be the smartest, the best looking, the richest, or the best connected to succeed. Simply work the hardest.

You can learn everything you need to know on the job.
 

timmbuck2

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...Spending 4 or 5 years of MTV, keg stands, skipped classes and football games is big fun (which I did and is in part why I had to go back to engineering school later!), but is ridiculous to say it's prepping you for the real world.

not everyone is 'lucky' enough to have this type of college experience. I worked full time my whole college career, and even without getting the degree, the life skills I learned in school have helped immensely in my career life. Learning to set goals and expectations and working towards my degree definitely prepped me for the real world.
 

Romer

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Good points dave./ Exactly why I said you should have a plan rather than just going to college. I had fun in college, I also went straight through summers so I could graduate in 3 years. My plan was the degree, not the college experiance. Although, I did have some fun.

I also agree with matt, I lots of people without engineering degrees who are systems engineers


I know I couldnt have provided for my family the way I have and put both kids through school without a degree. My goal was to provide a better life for my kids then I had. I succeeded there. I also know I will have a very comfortable retirement even if Social Security fails. And that my wife will be taken care of as she will obviously out live me :)

Going to college gave me that. You can get that without college as well, but you have to have a plan. The plan determines if college is the right path. You want to work in Aerospace, IT or technology, you need a degree. You want to start your own business with a great idea, a degree is not a big deal as long as you get the education you need to be successful.

If your unhappy where you are, then go look elsewhere.
 

Hulk

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But I suspect that had I not gone to school at 18 and worked for a couple of years I would have matured faster and gone to engineering school a few years earlier and I do think that would have made a difference in my life.

I agree with this 100%. I think it would have been better for me to have sold stereos for a year, then gone to college.

"When It Comes To Stereo, All You Really Need to Know is CMC."

I think the college experience has become just prolonging adolescence...

I don't think it's much different now than it was when I went to college in the 80s, based on the recent graduates I talk with. Some partied like crazy, others were more serious about their studies. I think it's just a natural breakdown of personalities.

I managed to do some of both during my college years.
 

AxleIke

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Well, you've done it. You have officially convinced me that I was wrong. It happens fairly frequently. I'll blame that on my youth :D

The point that convinced me was that, even though you might make the same amount of money, the pay is at least consistent, and you sit in a building rather than out breaking your back.

That in itself is enough of a benefit to justify a 4 year degree.

As for college grads, no, school isn't a party for all. You hear about the worst offenders in the news and glorified in movies and tv, but most kids are pretty serious.

Everyone goes to parties. Generally its on a friday night, and you have been working your butt off all week. Saturday afternoon and sunday are time for running a few errands and getting back to the books.

Yes, there are some who do nothing but party. They still usually get out with a degree, and, if what is said here is true, then they have gained something.

Dave, I wonder if your situation is somewhat unique to engineering. When I was getting into college, I spoke with a number of different working folk who'd come to the U for a panel discussion on careers. The engineer's said they got paid pretty well right out of school, but that they were constantly moving between companies as projects came and went, and the pay plateaued.

Anyway, good discussion here, and I appreciate the time everyone has taken to fully explain their points. It worked.
 

wesintl

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As for college grads, no, school isn't a party for all. You hear about the worst offenders in the news and glorified in movies and tv, but most kids are pretty serious.

Everyone goes to parties. Generally its on a friday night, and you have been working your butt off all week. Saturday afternoon and sunday are time for running a few errands and getting back to the books.

we did not go to the same schools :eek:That sound more like when I got a real job after going to school

this is CU boulder? I thought they were a party school at one time :confused:
 

AxleIke

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Dunno Wes. That's what I saw. People doing fine in classes and going to parties on the weekends. There were some that partied all week, but it wasn't common. Then again, 25k students, I only saw a small fraction. Maybe I was stuck on the nerd side of town.
 

Air Randy

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There are some folks that come out of high school that know exactly (or thing they know) what they want to do, and have the maturity and discipline to go straight in to college and succeed. Getting a degree by itself is not the definition of "succeed" you also have to actually learn the material AND be able to apply that knowledge in the real world.

As you describe, there are lots of people that party their way through college and manage to get a degree, but a lot of them didn't really learn the material nor can they apply the knowledge effectively. For those people, if they interview well, they may get hired but they will get weeded out quickly or stay stuck at the bottom of the organization.

For some people, it makes a lot of sense to take a break from high school before they make a final decision about college. It gives them a chance to mature more and figure out what they really want to do. Some may decide that additional education is not required for what they want to do, others may decide to go to a votech type school to become machinists or professionals in other well paying trades.

To Scalded Dogs point I agree that in business today some techniques, like "measure to manage" have been taken to extremes and can become counter productive. However, I have to grudgingly admit that when used appropriately these processes do allow you to slice and dice issues to correctly analyze and determine root cause. That way you can ensure you're fixing what is really broken.
 

DaveInDenver

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The Disadvantages of an Elite Education

It didn’t dawn on me that there might be a few holes in my education until I was about 35. I’d just bought a house, the pipes needed fixing, and the plumber was standing in my kitchen. There he was, a short, beefy guy with a goatee and a Red Sox cap and a thick Boston accent, and I suddenly learned that I didn’t have the slightest idea what to say to someone like him. So alien was his experience to me, so unguessable his values, so mysterious his very language, that I couldn’t succeed in engaging him in a few minutes of small talk before he got down to work. Fourteen years of higher education and a handful of Ivy League degrees, and there I was, stiff and stupid, struck dumb by my own dumbness. “Ivy retardation,” a friend of mine calls this. I could carry on conversations with people from other countries, in other languages, but I couldn’t talk to the man who was standing in my own house.

It’s not surprising that it took me so long to discover the extent of my miseducation, because the last thing an elite education will teach you is its own inadequacy. As two dozen years at Yale and Columbia have shown me, elite colleges relentlessly encourage their students to flatter themselves for being there, and for what being there can do for them. The advantages of an elite education are indeed undeniable. You learn to think, at least in certain ways, and you make the contacts needed to launch yourself into a life rich in all of society’s most cherished rewards. To consider that while some opportunities are being created, others are being cancelled and that while some abilities are being developed, others are being crippled is, within this context, not only outrageous, but inconceivable.

I’m not talking about curricula or the culture wars, the closing or opening of the American mind, political correctness, canon formation, or what have you. I’m talking about the whole system in which these skirmishes play out. Not just the Ivy League and its peer institutions, but also the mechanisms that get you there in the first place: the private and affluent public “feeder” schools, the ever-growing parastructure of tutors and test-prep courses and enrichment programs, the whole admissions frenzy and everything that leads up to and away from it. The message, as always, is the medium. Before, after, and around the elite college classroom, a constellation of values is ceaselessly inculcated. As globalization sharpens economic insecurity, we are increasingly committing ourselves—as students, as parents, as a society—to a vast apparatus of educational advantage. With so many resources devoted to the business of elite academics and so many people scrambling for the limited space at the top of the ladder, it is worth asking what exactly it is you get in the end—what it is we all get, because the elite students of today, as their institutions never tire of reminding them, are the leaders of tomorrow.
 

ScaldedDog

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^ That guy can write. And he's right on.

BTW, I saw today that the unemployment rate for people with college degrees is 4.6%. Now, it was on MSNBC, so who knows whether the number is accurate, or not. If true, though, it's the final answer to the question posed in this thread.

Mark
 

DaveInDenver

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India, and the Economic Folly of a College Degree

Though politicians, educators and their media enablers would have us believe that the act of earning a college diploma makes short people tall, turns bad writers into Somerset Maugham, and the mathematically challenged into highly-paid engineers, reality is happily intruding. What’s going on in India is a good example.

As Geeta Anand reported in the Wall Street Journal, though call-center company 24/7 Customer Pvt. Ltd is eagerly searching for “recruits who can answer questions by phone and e-mail”, it’s found that “so few of the high school and college graduates who come through the door can communicate effectively in English, and so many lack a grasp of educational basics such as reading comprehension, that the company can hire just three out of every 100 applicants.” This is our future.

Indeed, with politicians aggressively promoting advanced education with the taxpayers’ money, the inevitable result will be universities handing out more and more worthless diplomas to marginal attendees who will enter college with no skills, and who will similarly depart without the skills prized by employers. Worse for the victims of this supposed compassion, many will emerge with a great deal of debt as their reward for having wasted four years.
 
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I find myself wondering not whether my degrees were worth it, but rather if others received the same value I did. I have come to feel that many colleges are nothing more than degree factories, looking more to the income of degree seekers rather than the imperative of truly educating those attending. I was appalled at the number of individuals progressing through their classwork and earning degrees, both Bachelor's and Master's, that couldn't construct a coherent thought, sentence or paper. Personally, I feel this is the result of today's educational perspective supporting the belief that no child should be left behind, they're all winners in their own right, and that no one fails.

Ultimately, like many things in life, with education you get out of it what you put into it. The results are that you will either have a degree which will further your career goals, or something pretty to hang on the wall while you flounder for success.
 
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