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The Declining Value Of Your College Degree
The Wall Street Journal ^ | 2008-07-17 | Greg Ip

Posted on 07/17/2008 12:37:55 AM PDT by rabscuttle385

A four-year college degree, seen for generations as a ticket to a better life, is no longer enough to guarantee a steadily rising paycheck.

(Excerpt) Read more at online.wsj.com ...


TOPICS: Business/Economy; Culture/Society; News/Current Events
KEYWORDS: college; degree; education; highereducation; university

1 posted on 07/17/2008 12:37:56 AM PDT by rabscuttle385
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To: rabscuttle385
The title of the article is the sheerest nonsense, as the article itself admits:

To be sure, the average American with a college diploma still earns about 75% more than a worker with a high-school diploma and is less likely to be unemployed. Yet while that so-called college premium is up from 40% in 1979, it is little changed from 2001...

2 posted on 07/17/2008 12:52:25 AM PDT by iowamark
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To: iowamark

Could it be that we’re just issuing more Lib Arts degrees that are vitually worthless in the working world?


3 posted on 07/17/2008 1:05:19 AM PDT by Greenpees (Coulda Shoulda Woulda)
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To: iowamark

So it’s like inflation, you put to many degrees out and they become worth less?


4 posted on 07/17/2008 1:17:19 AM PDT by Toki
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To: Greenpees

Folks with liberal arts degrees earn far more than those with high school diplomas. Hardly worthless.

My standard advice to young people is, unless you are really into math or science, get a business degree with a minor or second major.


5 posted on 07/17/2008 1:21:00 AM PDT by iowamark
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To: Greenpees

I’d have thought the same thing before I decided I wanted to change careers and become a teacher. Now all of a sudden a Lib Arts degree in Social Sciences doesn’t seem so useless. I’ve been running companies for the last 15 years, the last having had 65 employees and $15 mill a year in annual revenues. Tired of the BS I’m heading back to school - A Degree in something practical like Business or Management doesn’t always get you where you want to go in the end.


6 posted on 07/17/2008 1:31:05 AM PDT by CBF (It's the law stupid!)
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To: rabscuttle385

"What do you mean the 7 years I spent getting my bachelor's degree in "Black separatist history" is worth $9.75 an hour? I'm a college graduate!"

7 posted on 07/17/2008 1:37:52 AM PDT by Caipirabob (Communists... Socialists... Democrats...Traitors... Who can tell the difference?)
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To: rabscuttle385

I am no longer paying the WSJ for subscription due to their Open Border stance and other elitist junk....I wonder what the implication of this article might be?
1) Colleges are teaching crap
2) Any Dumbazz can go to college
3) Too many Degrees and not enough common sense
4) Employers have found that College degrees mean Liberal Whiners???


8 posted on 07/17/2008 2:12:07 AM PDT by iopscusa (El Vaquero. (SC Lowcountry Cowboy))
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To: rabscuttle385

One thing that remains the same is that University of South Carolina graduates can still hang their degrees from the rear view mirror in order to park in handicap spaces.


9 posted on 07/17/2008 2:20:59 AM PDT by Abbeville Conservative (Just a bitter South Carolinian clinging to my religion and guns.)
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To: iowamark
To be sure, the average American with a college diploma still earns about 75% more than a worker with a high-school diploma and is less likely to be unemployed. Yet while that so-called college premium is up from 40% in 1979, it is little changed from 2001...

Does it take into account the hundred grand or so in debt the average college grad has?

10 posted on 07/17/2008 3:25:03 AM PDT by raybbr (You think it's bad now - wait till the anchor babies start to vote!)
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To: iowamark

Why is it that the income of collage graduates is only compared with the income of “a worker with a high-school diploma”? There are other options - trade and technology schools.
We need certified auto mechanics, plumbers, HVAC, machinists, medical technicians, etc. There are advancement opportunities in the trades. One acquaintance started as a plumber, now owns his own company. Another started as a framer and now owns his own construction company.


11 posted on 07/17/2008 4:03:08 AM PDT by R. Scott (Humanity i love you because when you're hard up you pawn your Intelligence to buy a drink)
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To: Abbeville Conservative

Who knew!? I that that was reserved only for University of Georgia grads.


12 posted on 07/17/2008 4:08:41 AM PDT by ItisaReligionofPeace
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To: R. Scott
I am looking really hard at getting retrained as an auto mechanic, assuming I survive this year. Comparing my income to what an actual mech. makes does make it worth considering. My situation at work appears to be one of those where the only way up is out. Almost no one ever advances up unless they are there 10 - 15 years.

I was a fairly good motorhead around high school and took all three years of auto mechanincs that were offered. I just wasn't a real electronics type then. Nowadays, pretty good after being in broadcasting and computers for too many years.

13 posted on 07/17/2008 4:13:30 AM PDT by wally_bert (Tactical Is Still Missing A Chair!)
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To: Abbeville Conservative

Sorry that Clemson’s Library burned down. At least they were abls to save the new coloring books.


14 posted on 07/17/2008 4:28:34 AM PDT by Gamecock (The question is not, Am I good enough to be a Christian? rather Am I good enough not to be?)
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To: Caipirabob

Spot on. How many people can get jobs within the Women’s or Hispanic Studies departments at our illustrious taxpayer funded universities these days? I forgot to add “community organizer” and U.S. Senator into the mix as well.


15 posted on 07/17/2008 4:31:49 AM PDT by RU88 (The false messiah can not change water into wine any more than he can get unity from diversity.)
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To: wally_bert
I am looking really hard at getting retrained as an auto mechanic, assuming I survive this year. Comparing my income to what an actual mech.

Mrs. jimfree's nephew was attending engineering school at Rolla, MO. He quickly decided an Mech Engr degree was not for him and returned to St. Louis to study at a votech school. Chuck now has a well-paying job as a machinist and just a couple years after graduation is buying his own house.

16 posted on 07/17/2008 4:33:28 AM PDT by jimfree (Freep and Ye shall find.)
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To: wally_bert
I am looking really hard at getting retrained as an auto mechanic, assuming I survive this year. Comparing my income to what an actual mech. makes does make it worth considering.

The best house in my neighborhood was owned by a mechanic who had become the Parts Manager at a dealership.

The only reason I say "Was" is because he moved to a better neighborhood.

With OBD2, you can ask the car how it feels, and what's wrong, so don't sweat the electronics parts, anyway. It's your friend.

17 posted on 07/17/2008 4:49:43 AM PDT by Gorzaloon
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To: Gorzaloon
Nowadays, electronics are wonderful since I have a good foundation in it, not an actual ET, mind you but do a fair amount.

I catch Sam's Garage most Saturdays for the whole hour my AM station knocked it back to. It is some education and a good refresher too. At times, I don't think I have forgotten as much as I thought. Click & Clack are good for some humor as far as I am concerned.

18 posted on 07/17/2008 5:13:39 AM PDT by wally_bert (Tactical Is Still Missing A Chair!)
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To: rabscuttle385

There are many ways to a good (or bad) income in this country. There is no one right answer. Someone who becomes a plumber (which is a LONG process in itself) may end up earning as much as someone who is a Doctor. Somone who is a mortician may earn as much as someone who is an engineer. Someone who gets a degree in Woman’s Studies may earn just as much as someone who works at McDonalds.


19 posted on 07/17/2008 5:17:41 AM PDT by rbg81 (DRAIN THE SWAMP!!)
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To: iowamark
My standard advice to young people is, unless you are really into math or science, get a business degree with a minor or second major.

Add to that, if you are not college material, get a trade, machinist, technician, sheet metal, all pay well, and if you have the practical experience coupled with the education, you can go a lot farther.

20 posted on 07/17/2008 5:18:05 AM PDT by Pistolshot (When you let what you are define who you are, you create divisiveness.)
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To: rabscuttle385
It all goes back to supply and demand...there are too many degrees out there all competing for the same job markets. Some colleges are like a summer high school class I once took as a new subject - Algebra II, taught by a basketball coach, to let us all know on day 1 that if we paid our money, and attended class, we'd pass.

Looking around at job ads, you see employers wanting batchelor degrees for jobs that pay $9 per hour. Anyone going for a batchelors only, should do some research on their chosen major and career goals.
21 posted on 07/17/2008 6:03:59 AM PDT by FrankR (Liberalism is Communism by the drink - P.J. O'Roarke)
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To: rabscuttle385

I teach in a technical university where admission standards are not particularly high. While many of my students are bright and articulate and would be on par with students at other local private liberal arts colleges and state universities, there are some who simply are not college material. I shudder to think of the impact of Obama’s plan to give every American a “right” to a college education as it would fill our colleges and universities with unqualified students and result in making college degrees far less valuable.


22 posted on 07/17/2008 6:54:50 AM PDT by The Great RJ ("Mir we bleiwen wat mir sin" or "We want to remain what we are." ..Luxembourg motto)
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To: R. Scott

“”Why is it that the income of collage graduates is only compared with the income of “a worker with a high-school diploma”? There are other options - trade and technology schools.
We need certified auto mechanics, plumbers, HVAC, machinists, medical technicians, etc. There are advancement opportunities in the trades. One acquaintance started as a plumber, now owns his own company. Another started as a framer and now owns his own construction company.”””

Agree - Everybody I know that has a above average income runs their own business usually as an extension of a trade or technology background. The local Deli guy I am friendly with earns 360K year.

Attorney’s I know with a couple of exceptions are eternally frustrated with average income despite doing everything right, good education, good work ethic etc. The pie is just just only so big and there are too many of them here in CT.


23 posted on 07/17/2008 7:10:51 AM PDT by underbyte
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To: underbyte

The yellow pages are full of doctors and lawyers - but good technicians are hard to find. Most shops I pass have “help wanted” signs.


24 posted on 07/17/2008 1:10:35 PM PDT by R. Scott (Humanity i love you because when you're hard up you pawn your Intelligence to buy a drink)
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To: FrankR

If a field doesn’t need a degree, then what’s the point of having it as a requirement? I can see the point of a Scientist, Lawyer or a Doctor needing the advanced degree but does a salesman, a IT specialist or a retail manager need one?. I am biased though, I hold a B.S. in Chemistry and considering a doctorate.


25 posted on 07/22/2008 8:41:12 PM PDT by John Will
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