In my desperation, I have finally discovered that the only way that I can begin to fill the gaping hole within me is to be thankful for what’s there, and not angry for what’s not.”
Craig D. Lounsbrough – Author
A millennial the other day was wearing a Y hoodie from Yale University his alma mater. We got into a conversation about work. Well, he was working at an Amazon distribution center with a quarter million-dollar degree. Huh! There has been a global and collective obsession with getting any college degree, seemingly regardless of its value and employability.
The common perception based on historical numbers is college graduates regardless of the degree make more over a lifetime than those without a degree. Is this still true? VUCANs® (today’s Volatile, Uncertain, Complex, and Ambiguous INhabitants) are getting degrees with seemingly few employment opportunities. The result is many college graduates are underemployed or even unemployed. College value for money, think return on investment (ROI), is not there.
Story: Another obsession is the brand degree. Would you rather go to Yale or State U is a question that came up with our 18 year-old daughter. Millions of kids and parents in every country face this dilemma. Every country has its prestige and state (think value) universities.
The former are expensive and the latter are relatively inexpensive. The critical risk based decision is: ‘what’s the better option for employability a . million-dollar degree from Harvard or Yale in German literature or an engineering degree from a State University’? There’s a starting $39,000 difference in earnings between the highest and lowest paying college majors. Studies say:
“Where you go doesn’t matter so much anymore, it matters what you take (degree)” was the conclusion. Work Lesson Earned: You can get an online technical degree for 1/5 the cost of a prestigious university that offers more employability, security, and lifetime marketability. Branded university degrees may be seen as a type of privilege, pedigree, or finishing school. So, what will hiring managers think and do? One thought is privilege resentment will force hiring companies to ask: ‘What can you do for us to help us make money’? There will be more emphasis on the ‘do’, practical skills testing, and ‘show me’.
The privileged (1 percenters, oligarchs, elites) are hugely fearful for their kid’s employability.
As cheating scandals indicate, the privileged will go to great lengths to secure life and work success for their kids. College branding counts less. Learning and doing work may be the ultimate work differentiators and retainers.
Work Lesson Earned: Your work degree is now more important than a college pedigree. Just look at the ROI.