Tangent Thread - Worth of a Degree Edition

[Jason Sitoke]

I guess I might be younger than most on this board, but 4/5 of the 'richest' people I know who are around my age don't have anything higher than an Associates Degree. 

Are you 20?  I’m just trying to frame your response in a way that makes something resembling sense. 

 

[Mierin]

Someone changed it in their response, my original post has it spelled piece.....Of course I exaggerated some, but teachers?? They make around $42k on avg - people find that beneficial for going to college?

No one changed it. The 2nd one always said "pice" unless it's a mod conspiracy against you.

So, is it everyone but doctors and lawyers whose degrees is worthless, or is it only teaching and liberal arts degrees?

Also, you say you're younger. If you're around 22, of course people who didn't go to college have more $ right now. The people who went to college are in the beginning of their post college years and still paying off the loans. The ones who got good degrees will for the most part be better off than those who got no degrees at all.

FYI, I think there are lots of degrees that are crap when it comes to how worth the cost they are, but maybe you should stop exaggerating. And having a degree if it's paid for by someone else is better than having none. The problem with the crappy degrees is the cost to benefit ratio, but if there is no cost to yourself it's beneficial to have one. I have no idea if jucos have scholarships but if not, they are still a lot cheaper than 4 year schools.

 

[runningblind]

No one changed it. The 2nd one always said "pice" unless it's a mod conspiracy against you.

So, is it everyone but doctors and lawyers whose degrees is worthless, or is it only teaching and liberal arts degrees?

My work requires a degree for new hires.  Several of my best coworkers don't have degrees however,  but extensive experience among them was the common denominator.  That path isn't available for young people now as they can't get experience without a degree. 

Field is computer engineering. 

 

[RedDenver]

 

[Stumpy1]

My work requires a degree for new hires.  Several of my best coworkers don't have degrees however,  but extensive experience among them was the common denominator.  That path isn't available for young people now as they can't get experience without a degree. 

Field is computer engineering. 

A regional boss of mine has said he will hire a guy with no degree but loads of experience over someone with a degree and no experience. 

 

[runningblind]

A regional boss of mine has said he will hire a guy with no degree but loads of experience over someone with a degree and no experience. 

I would agree with that. What I am saying is you won't find people with no degree and loads of experience in 10-15 years as no one will hire them today for them to have experience later.

 

[Huskinator]

A regional boss of mine has said he will hire a guy with no degree but loads of experience over someone with a degree and no experience. 

That makes sense but how does the young kid get that experience... the degree helps them earn that experience now.   Gone are the days of start as a janitor and work your way to the ceo.  Also gone are the days of working for the same company for 30 years.  Some do it but most don’t. 

 

[Landlord]

I don't have a degree and I've found all kinds of neat cool jobs. Overrated imo

 

[Stumpy1]

That makes sense but how does the young kid get that experience... the degree helps them earn that experience now.   Gone are the days of start as a janitor and work your way to the ceo.  Also gone are the days of working for the same company for 30 years.  Some do it but most don’t. 

The degree gets you in the door easier these days but doesnt make you experienced.  

My son worked for an insurance adjuster in HS and the summer after he graduated.  He really enjoyed the job so much that he took school to get his adjuster's license.  He has applied all over but no one would hire him because he lacked experience.  He finally got a job with Farmers Mutual in Omaha because the guy that hired him said he went through the same issues after schooling.

I agree with you that the days of starting at the bottom and working up are gone.  I think is part of the reason why people are switching jobs every 5 years or so. 

 

[Huskinator]

The degree gets you in the door easier these days but doesnt make you experienced.  

My son worked for an insurance adjuster in HS and the summer after he graduated.  He really enjoyed the job so much that he took school to get his adjuster's license.  He has applied all over but no one would hire him because he lacked experience.  He finally got a job with Farmers Mutual in Omaha because the guy that hired him said he went through the same issues after schooling.

I agree with you that the days of starting at the bottom and working up are gone.  I think is part of the reason why people are switching jobs every 5 years or so. 

I never once argued the degree gets you experience.  I was a college grad that had to fight the degree to experience debate. I spent the last 12 years battling it.  However, because of my degree I am prime to move up the corporate ladder.  

Im simply saying that the experience argument will soon go out the window.  Those highly qualified candidates that were at a job for 30 years aren’t there like they used to be.  

 

[Huskinator]

The degree gets you in the door easier these days but doesnt make you experienced.  

My son worked for an insurance adjuster in HS and the summer after he graduated.  He really enjoyed the job so much that he took school to get his adjuster's license.  He has applied all over but no one would hire him because he lacked experience.  He finally got a job with Farmers Mutual in Omaha because the guy that hired him said he went through the same issues after schooling.

I agree with you that the days of starting at the bottom and working up are gone.  I think is part of the reason why people are switching jobs every 5 years or so. 

I think company loyalty isn’t there on the corporate side.  They will cut you for anything.  That then leads to the employee not feeling bad to look around either.  

 

[BIG ERN]

No one changed it. The 2nd one always said "pice" unless it's a mod conspiracy against you.

So, is it everyone but doctors and lawyers whose degrees is worthless, or is it only teaching and liberal arts degrees?

Also, you say you're younger. If you're around 22, of course people who didn't go to college have more $ right now. The people who went to college are in the beginning of their post college years and still paying off the loans. The ones who got good degrees will for the most part be better off than those who got no degrees at all.

FYI, I think there are lots of degrees that are crap when it comes to how worth the cost they are, but maybe you should stop exaggerating. And having a degree if it's paid for by someone else is better than having none. The problem with the crappy degrees is the cost to benefit ratio, but if there is no cost to yourself it's beneficial to have one. I have no idea if jucos have scholarships but if not, they are still a lot cheaper than 4 year schools.

 

I could go way more into detail in regards to college and wealth already within families. I think it's easy to say that kids whose parents can afford to send their kids to college will be set up better throughout life to someones who cannot. Universities are a business. You get out at 22 with $80k in debt and have a fun interest rate on your loans to go with it. 

-- 2015 graduates won't break even until age 31 
-- 2030 graduates won't break even until age 33 
-- 2050 graduates won't break even until age 37

This of course gets in the way of buying your first home, getting a vehicle, going on a vacation, paying for daycare etc. in comparison to those without that debt that get to enjoy their 20s and 30s. 

With 20.4 million US college students in fall 2017, and over $1.5 trillion in total student debt as of May 2018.

 

[Mierin]

I could go way more into detail in regards to college and wealth already within families. I think it's easy to say that kids whose parents can afford to send their kids to college will be set up better throughout life to someones who cannot. Universities are a business. You get out at 22 with $80k in debt and have a fun interest rate on your loans to go with it. 

-- 2015 graduates won't break even until age 31 
-- 2030 graduates won't break even until age 33 
-- 2050 graduates won't break even until age 37

This of course gets in the way of buying your first home, getting a vehicle, going on a vacation, paying for daycare etc. in comparison to those without that debt that get to enjoy their 20s and 30s. 

With 20.4 million US college students in fall 2017, and over $1.5 trillion in total student debt as of May 2018.

None of that, which I agree with, makes your earlier statement correct. 

 

[Enhance]

This is always a fascinating discussion for me as it relates well to my degree - broadcast journalism. On-camera broadcasting jobs start in the $20k-$30k range these days for kids fresh out of college, which is pretty laughable when you consider the cost of getting a degree in order to have that job. The chances of you being an on-camera broadcaster without a degree, especially a journalism degree, is minimal. All that work, all that debt, for so little salary. Most people who graduated with a journalism degree around the time I did (2012) are still making less than $50k annual salary.

A lot of broadcasters/reporters also leave the media to work in jobs like PR/Advertising/Marketing... jobs that are often unrelated to their actual degree. After four years, I left the industry and now work in marketing. I also took a ~47% pay increase to do so in that first year. Now, the salary difference compared to my last year in the media and current salary is 60%. It's such an odd series of events to reflect on.