What’s Better – College or Short Sales?
Tuesday, July 06, 2010 2:22 PM
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Before I begin, I need to give you full disclosure. I attended college and received a Bachelor’s degree from Manhattan College. It certainly had a positive impact on my life, but I also realize there are many among us that don’t necessary need to attend college. Now onto my thoughts…
Once upon a time, in an economy far- far away, a young person would study hard, go to college and earn a good living with excellent benefits and a big fat retirement account. Like most fairy tales, the reality doesn’t quite live up to the modern day expectation. Research conducted by PayScale.com has turned the conventional wisdom of saving up for a college degree on its head. Not only is college time consuming, expensive and somewhat exhausting…it’s also not the investment it used to be; in fact, the majority of colleges have a very low ROI or return on investment when compared to those that only obtained a high school diploma.
As dismal as this sounds, the research is actually supported by Bloomberg Businessweek who found that an ever decreasing number of colleges will produce graduates capable of earning back the cost of their college degree. There are several reasons for the decline of value associated with obtaining a college degree:
1. Declining earnings. Plain and simple, a college degree is no longer as valuable due to the devaluation of labor in general. In the past, obtaining a degree all but guaranteed a good job…those days are long gone. It’s not unusual to see college educated persons in part-time, temporary or otherwise unskilled positions.
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[JR: Not enough to go on to id the JAsper involved. If it is a Jasper? Interesting analysis. Something that I've blogged about on my own blogged. Any "good job" that can be off shored to ANY land of cheaper wages has been or will be. Sigh, all because we let the Gooferment get out of control. Argh!]
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