RSI Corporate - Licensing

College reality

News Herald – Juliann Talkington

Juliann

In a few weeks tens of thousands of young Americans will leave home and begin the “college experience”. As they descend on campuses across the country, they will be greeted by impressive buildings, acclaimed alumni, elaborate social functions, and luxury hotel-like accommodations. In addition to getting used to their new “homes”, these newly minted adults will be asked to select majors that prepare them for post college employment.

Interestingly, the university structure and incentives may not always be aligned with what is best for students.

Universities are broken into departments. Each department is responsible for running a profitable business or demonstrating that there is enough demand for its offerings that it would be foolish for the university to close the department. Departments like engineering generally have large research budgets, so they are less concerned about student enrollment than departments like the humanities and social sciences that have fewer research dollars.

As might be expected, the departments with fewest research dollars generally work hardest to convince students to select majors within their purview. Until 15-20 years ago, this model worked well, because it was possible to obtain high quality employment with a wide variety of university degrees.

Technology has improved access to information so much that many jobs related to compiling, organizing, and disseminating information have already been or are being eliminated. Careers that have been hardest hit are law, social sciences, and the humanities.

Since there are fewer job opportunities for people with these degrees, many college graduates find it difficult to procure jobs that pay a premium over what was available to them before they attended college.

This shift creates a dilemma for the parents of a child who did not develop a proclivity for math in high school. Does the parent have the resources to send the child to college so he/she can graduate without debt and go on to a job that he/she most likely could have obtained without attending college? Is it better to consider a high paying trade like plumbing or electricity, rather than expending money on college? Or is it wiser to encourage the child to go to a community college and learn math, so he/she has the skills to obtain a college degree with higher earning potential?

It is a tough decision, but is something that should be discussed before a family blindly spends large sums of money on a college education that does little to improve a child’s long term earning potential.

Careers talks ‘boost future earnings’ – research

BBC – Sean Coughlan

“Careers education given to pupils in secondary school can be linked to higher earnings in adult life, according to researchers. A study published in the Journal of Education and Work suggests that better-informed teenagers are likely to make more advantageous career choices…Where there were “higher levels of employer contacts, in the form of careers talks with outside speakers”, researchers found that this was linked to higher returns in the labour market. They concluded that getting careers information and meeting employers in school had a “meaningful and statistically significant impact on later earnings”.”(more)

What Sets the Top Engineering Schools Apart? Not Just STEM.

PayScale Career News – Aubrey Bach

“At first glance, the list of top colleges in PayScale’s 2016 College Salary Report looks like a love letter to STEM degrees…A closer examination reveals that what separates the very best STEM-focused colleges from the rest is that they encourage students to branch out beyond a traditional STEM curriculum…Just as workers with humanities degrees see a financial benefit from learning technical skills, STEM majors who round out their education with communication and analytical skills like the ones taught in humanities classes also benefit.”(more)