Is college a good investment these days?
A news article in Newsweek caught our attention and we wanted to ask our community the same question. Is college a good investment TODAY? Tuition is increasing every semester/year and a graduate may not be guaranteed a good job. So what do you think? Is it absolutely necessary to go to college today?See Answer 10 Add Answers
It has never been a neccessity, however if you want to be successful and not work two minimum wage jobs, or farm, you go to college.
College is a good investment when a person pursues a valuable degree. If a person receives a degree in a field that is already swamped with others with the same degree then it is very unreasonable to expect: a) to readily find a job, and b) a high salary from said job.
Every six months can be found the sad tales of recent graduates who can't find jobs. Look a little deeper into the sad stories and the reader will learn that the weeping college graduate has a degree is some useless or oversold degree. Who gets a degree in creative writing and expects anything more than unemployment or at best underemployment once they graduate?
Now, get a STEM (Science, Technology, Engineering, Math) degree there is a better chance of finding a job that will pay a livable wage. Still no guarantee as some STEM degree fields are oversold. A good rule of thumb is the harder the degree is to attain the better chance of finding a job and a fat paycheck. Worked out for me.
No, it is not a good investment. My friend has a Masters degree in elementary education, and is now working a minimum wage job because the school district laid off teachers. She and her husband relocated to a different area, only to find the same results.
Although I am employed, I still look around for jobs, and saddened to find, even a job paying $10/hr wants a degree. That's not why you attend college. I am a college student, and find myself getting into debt to pay for college, only because I have to obtain a degree to work in the field I have chosen.
It depends on the vocation of choice. Certainly where safety is a concern and the body of knowledge is so large, college is the choice that must be made. The skills necessary and knowledge depend on the work of those who pioneered and developed the information. This is especially true in the sciences and engineering. In those situations, the reward is commensurate with the investment. But in those fields which are being pioneered, college may not be applicable. Where college should do best is in situations where you are not trying to reinvent the wheel.
There are still many vocations that do not require that level of training, then college is not necessary. For example, there is no requirement to complete college to be a legislator at any level, mayor, or even the President of the United State. But note that judges require extensive training.
Also studies of financial comfort and college degrees is only a correlation and not necessarily cause and effect.
From my own job searches most jobs paying $30,000 a year ask for Bachelor's or equal experience. If you just graduated high school how likely are you to have 3 years experience in that field.
Jobs above 50k a year typically ask for Masters degrees or 15+ experience with a Bachelor's.
Unless your going to work for daddy's business, catch a "big break," or work minimum wage chances are you'll need training/education in some field.
True, tuition rates are increasing but research schools and tuition. It perplexes me why students pay 30k year for a "highly popular" school and there are colleges that have a total degree completion of less than 30k. For-profit schools are even worse. If you aren't going to research pricing and what you're getting for your money; you'll probably do the same for the quality of education you're getting.