The reason why people make more money with a college degree is because it’s a job requirement. It doesn’t matter what your degree is in.
Companies require people to have a college degree which is fine with people right out of college. Because they have no experience. So how are they supposed to know if a new employee will work out? They need something on to base their decision. College is that backstop for decisions.
You get a communications degree and want to work in anything that will hire you at any company because you have a degree. The fact that you finished college is proof enough for now that you are qualified to apply. A college degree should not apply to seasoned professionals who have experience, college shouldn't matter. However, if you have 20 years of industry experience without a college degree you could lose your job to a first-year college grad because a degree is required. Oh well.
The reason why companies don’t offer specifically on-the-job training is scarcity thinking. Maybe the CEO is like, "I can’t train my employees because if we do, they will be so good they will leave. We just wasted all those resources." This is scarcity thinking. Maybe the CEO doesn't say this but he still will require a college degree. My opinion.
Train people well enough so they can leave. Treat them well enough so they won’t. - Richard Branson
The philosophy is that if they limit the resources they will have better employees that have to be trained by another company or leave it up to the individual to get training and then have something to offer a company. The companies need to have an abundance mentality and just do better.
Scarcity thinking and abundance thinking are two opposite mindsets that individuals can have, and they can have a significant impact on how people approach their lives. Scarcity thinking is based on the belief that there is a limited amount of resources, time, money, or opportunities available, and that one must compete with others to obtain their share. This type of thinking can lead to a sense of fear, anxiety, and a lack of confidence in one's ability to succeed or meet their needs. Scarcity thinking can also create a sense of competition and conflict with others, making it challenging to build positive relationships.
On the other hand, abundance thinking is based on the belief that there is an abundance of resources, time, money, and opportunities available. This mindset allows individuals to approach situations with a sense of confidence, optimism, and gratitude, knowing that there is enough to go around. Abundance thinking can also foster collaboration and positive relationships with others, as there is no need to compete for resources. While scarcity thinking can lead to negative behaviors like hoarding and overconsumption, abundance thinking can lead to positive behaviors such as generosity, creativity, and a willingness to share with others. Adopting an abundance mindset can help individuals find new opportunities, develop positive relationships, and overcome obstacles more easily.
College offers no guarantees.
You still need experience to get the job. Internships, Low-level entry jobs, are still needed with a degree. You’re not going to be the CEO right out of college. You still need to know someone. You still have to compete with everyone else who has a degree. A degree just gets you in the door for a chance.
College alternatives
On the job training.
Trade schools Self-education.
Move up the ranks.
Be an Entrepreneur
Online colleges
Climb the ladder
A college degree just because
If you do decide to go to college the best plan is to have a plan. If you decide to attend college “just because” with – no plan of action it will be the most expensive party experience, you will ever experience.
Going to college offers many benefits, including:
Higher earning potential: As mentioned earlier, individuals with a college degree tend to earn more money over their lifetime compared to those without a degree. This increased earning potential can help improve one's financial stability and standard of living.
Increased job opportunities: One of the primary reasons people go to college is to increase their chances of finding a good job. College graduates are often more marketable and can apply for a wider range of positions.
Personal and intellectual growth: College provides a unique opportunity for personal growth and self-discovery. Students are exposed to new ideas, perspectives, and experiences that can broaden their horizons and challenge their beliefs.
Networking opportunities: College provides students with the opportunity to meet and connect with people from diverse backgrounds, including classmates, professors, and alumni. These connections can be valuable for future career opportunities and personal growth.
Improved critical thinking and problem-solving skills: College education often emphasizes critical thinking and problem-solving skills, which are valuable in many aspects of life, including work and personal relationships.
Greater independence and self-sufficiency: College can provide students with the opportunity to become more independent and self-sufficient. Living away from home, managing finances, and making important decisions are all part of the college experience that can help individuals become more responsible adults.
We have reached the point of diminishing returns.
Although there are benefits to the college experience. Including the party. The cost of a college education can vary widely depending on various factors such as the type of institution, the program of study, and location. According to the College Board, the average cost of tuition and fees for the 2021-2022 academic year was: $10,560 for in-state students at public four-year institutions $37,650 for out-of-state students at public four-year institutions $37,650 for private nonprofit four-year institutions These figures do not include other expenses such as room and board, textbooks, and personal expenses, which can add several thousand dollars to the overall cost of attending college.
Moreover, the cost of a college education has been steadily increasing over the years, and many students and families often rely on financial aid and student loans to cover the costs. It's important to research and consider various options for financing a college education and to be aware of the potential long-term financial implications of taking on student debt.
According to the Federal Reserve, the total student loan debt in America was $1.57 trillion as of the third quarter of 2021. This represents a significant increase from previous years, with student loan debt surpassing both credit card and auto loan debt in recent years. The rise in student loan debt has become a significant issue for many borrowers, with many struggling to repay their loans and facing financial challenges as a result. It's important for students and families to carefully consider the costs and benefits of college education and to research various options for financing their education, including grants, scholarships, and federal student loans before considering private student loans, which often come with higher interest rates and less favorable terms.
Starting Salary out of college
The average starting salary of a college graduate can vary widely depending on the individual's major, industry, location, and other factors. According to data from the National Association of Colleges and Employers (NACE), the average starting salary for the Class of 2021 was $55,966, which is a 4.4% increase from the previous year.
However, this figure can vary significantly by major.
For example, some of the highest-paying majors include engineering, computer science, and business, with starting salaries ranging from $60,000 to $70,000 or more. On the other hand, majors such as education and social work typically have lower starting salaries. While a high starting salary can be an attractive feature for a job, it's not the only factor to consider when evaluating job opportunities. Other factors such as job satisfaction, career growth potential, work-life balance, and benefits should also be taken into account.
Discussion Questions
Why do you need to go to college for 2 years to get a degree? Isn't it just an extension of high school? How does taking two more years of prerequisites has anything to do with your degree or what you are going to school for?
Even if you are going to medical school you still need two years of general education. Why? How about just going into medical training?
College is a higher high school, sort of ...
While it is true that many college programs include prerequisite courses in the first two years of study, these courses are important for building a foundation of knowledge and skills that are necessary for success in upper-level courses and future careers. Prerequisite courses typically cover fundamental concepts in subjects such as math, science, and writing, which are essential for success in many college programs and careers.
Moreover, a college education is not solely about learning specific skills or knowledge related to a particular career field. It is also about developing critical thinking skills, problem-solving skills, and the ability to communicate effectively, all of which are important in many aspects of life, including personal relationships and civic engagement.
College can provide an opportunity for personal and intellectual growth, as well as exposure to a diverse range of people, ideas, and experiences that can help individuals broaden their horizons and challenge their beliefs.
While the time and financial commitment required for college can be significant, the benefits of a college education can be far-reaching and can have a positive impact on an individual's personal and professional life.
Very true points. I went to college and had some good experiences that I could learn from. I would also add that these experiences were aside from college and I probably could have got those experiences anyway because I still had to work to go to school, to pay my debt for my education I had to go to work for...
Can you still achieve success?
Yes, you do not have to go to college to be successful. Success is a subjective term that can be defined in different ways by different people. While a college education can be beneficial for many individuals, there are numerous examples of successful people who did not attend college or did not complete their college education. For example, many successful entrepreneurs such as Bill Gates, Steve Jobs, and Mark Zuckerberg did not complete college.
Instead, they pursued their passions and focused on building successful businesses. Additionally, there are many skilled trades and professions that do not require a college degree, such as plumbing, electrician, and welding, among others.
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