Recently I had a friend inform me that for all dual purposes a degree is a scam. It is worthless and only amounts to the newly, somewhat educated person being in debt. It further leads to them buying fancy cars to feed their wall street egos. I pondered on this a second or two and thought it may be a viable argument. However there is so much going on for the degreed candidate that the benefits simply outweigh the risk for 95% of the people in the United States and most likely the world.
You do not need a degree to succeed ( which in itself is a subjective measure). A degree does not define you, however it is the most proven investment tool world over that has a direct “impact” on ones ability to provide for themselves and their family. It also creates a stabilizing factor. When degreed job seekers lose their jobs, they don’t stay out of work for long when compared to non degreed workers. On average they also don’t take drastic pay cuts . Gone are the days of employees staying at one company for 30 years plus. A job/work is undeniably the most likely way that the majority of the world will provide for themselves and their family. Having a degree increases a candiates chances of being hired at one of these jobs and keeping that job. The degree is today’s “union card” it simply opens up more possiblities and gives you options that you might not have had with out one. True you may not learn much that applies to your job in college; true the Crain operator that didn’t go to college makes 250K a year with out a degree, but this does not alleviate the obvious advantage the majority of degreed job seekers have on the market.
Have you ever heard that degrees are worthless because Bill Gates and Oprah didn’t need one to succeed (or to do what they are doing)? Many leave out the fact that Bill Gates has always been a genius (even when he was a kid). Winfrey put education as a priority and was deeply into her studies as a student. She attended Tennesee State University. She was short one credit for graduation before she took a job… However for all dual purposes she had the equivalent of a 4 year degree when she left (she went back a few years later and completed the degree). Many also elude to the demise of the degrees worth to support their opinion not to get a degree. Yes, that may happen one day, but put your bets on the degree!
Thoughts, Questions or Concerns are Welcome
Andy (Counsel Member)
25 thoughts on “Degrees are scams!”
I can understand the reason people say that degrees are unnecessary. They are expensive and putting a lot of people in debt. They do help you get a job college basically shows that you have the skills to learn and grow. Unless you are going for something technical everything else you can learn on the job. Now The thing your friend fail to realize is that people that are millionaires without degrees usually have a talent in something that is off the charts. Bill Gates is a genius. Some business man they had their plans for a very long time. Everyone walking the streets are not blessed with these talents they have to learn these skills and grow into that mindframe. Also most people that have these abilities will tell there children to go to school and get an education. So I ask is your friend making 250K if not tell him to go to school!
College and education is big business. Pumping out hundreds of thousands of workers every year. Into a system that may or may not be able to provide you with a job at the end of that costly education. And we are the consumers… The middle class fuels the economy and that is what college is for. Financial education should come first and foremost. majority of college students start life about 40-50k in debt and take jobs making 40-50k when they get out. Did you know that student loans are one of the only debts that cannot be discharged through bankruptcy??? meaning that if academia doesn’t provide for you then you are stuck with that debt for life. I say we take that same 40-50k and invest in a business or invest in property in our communities. Thats where the real wealth is in America. Nobody’s getting rich at work!!!
You have truthful thoughts however for the majority I believe this is still the surest path that allows them to provide for themselves. Now creating wealth the degree might not be the way to go..lol. The heart and passion of the entrpeneur has always been rare. But is beginning to be even rare into today’s society. I would personally also recommend to youth of today if they don’t go to college, get a trade. electrician, millwright, plumber, etc.
That is true but how are you going to do that if you do not know how? Education is what it is to educate. Everyone does not have the mind to do what you said Dub. Investing people don’t know what that is. To busy buying thing they can not afford. Unless you are training and teaching your child how to take over the family business then send your child to school.
Thats exactly my point. Societies reliance upon and the importance placed upon obtaining a college education has stripped us of individuality and the desire to own anything of our own. College is supposed to be and was in its inception a place for people to embellish upon and expand upon a passion with some type of intelluctual basis. Now its a place people go to help them get a job. Our kids won’t ever reach real success unless they find a passion. I speak to my kids everyday about the importance of ownership and they are toddlers! LOL
Now everyone needs to follow suit with you my friend. The thing in america was get educated own some property and raise a family where is that at now? Middle class we are lossing that as we speak. We are going to become rich or poor if we do not change things.
Actually education was preserved for the wealthy and gradually became more accessible to the general population. Education is a business and a degree is a product. Businesses and products go through life cycles and one day the degree may die, unless the product is revamped.
I agree that the middle class are losing, many of the self proclaimed middle class are not even middle class, they are upper class poor. If you do not have a positive net worth and can not “work” read Job, for at least 2 years straight ironically the economical definition of middle class may not fit. ….OMG, as I read this I re-realize that I’m poor!
In terms of education it was preserved for the rich Andy but the premise is that the purpose of it was different than it is today. So today everyone has access to education but do we really? Big difference between a State College and the IVY leagues. Fact is that the Ivy leaguers reside in the elite 1% of wealth in America. The rest of college graduates live in the middle. So my question to you Andy, Is the degree the really the product? Or are we?
A college degree is the equivalent of a high school diploma in the 60’s or 70’s nowadays. Why not own the local corner store or gas station and provide opportunities to others and teach them the importance of a financial education and how to be producers instead of consumers. Were headed in the wrong direction!
I think that you are right Dub. It did not matter where you got your degree from you were going to get a good job and prosper. This was what everyone did. You have to get your education there was no other training like it. I do think that you need it on your resume. I am for Education. I also think that depending on what you are doing you really don’t need it people need to know how to balance a check book. Invest know assets and liabilities. I think education opens you up to different culturals and also gets you in the mindframe of corporate america.
Dub are you speaking from experiences?
I agree with some points in this article. A college degree is not as powerful as it used to be. In the “old days” you simply could not succeed in corporate America without a degree. Today experience is valued just as much as a degree. On the other hand, having a degree without experience really makes it tough to land a job. I still feel a degree is important for one’s own self fulfillment. Oprah and Bill Gates are exceptions not the norm. I work for the Federal Government and the majority of management at my agency do not have a college degree. They just worked their way up to a six figure salary. The Federal government does not value college degrees which is sad.
Yeah it is terrible. Another problem that we are having is that people are working far longer than they use to. Which is good and bad. We can not afford to pay the Social Security for them all. Our grandparents worked til they were 62 at the most now people are holding up positions working well into there 70’s. I know we all know people that have been working for 40 plus years and waiting for them to retire so that maybe you have a chance of moving up without switching companies.
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