The Declining Value Of Your College Degree

The Wall Street Journal ^ | 2008-07-17 | Greg Ip

[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.

[FrankR]

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.

[The Great RJ]

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.

[underbyte]

“”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.

[R. Scott]

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

[John Will]

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.