Do college degrees really get you a better job?

It depends on what you study. If you study really hard stuff that is in demand, then it will help. But if you study easy stuff and don’t come out in the top 1% of those easy programs, then going to college is a huge waste of money. It’s also a huge “opportunity cost”, because you could have been working instead of going to college – which would get you not only a salary but a lot of experience, too. Instead of having $50,000 in debt, you could have $50,000 in savings, over four years.

Take a look at this article from the Chronicle of Higher Education. (H/T Hans Bader at the Competitive Enterprise Institute)

Excerpt:

“60 percent of the increase in the number of college graduates from 1992 to 2008 worked in jobs that the (Bureau of Labor Statistics) considers relatively low skilled — occupations where many participants have only high school diplomas and often even less.” This means that the great push to increase the number of college grads has apparently come to very little — only a minority of the additional grads are in occupations regarded as requiring a bachelor’s degree.  Of the nearly 50 million U.S. colleges graduates, 17.4 million are holding jobs for which college training is regarded as unnecessary. The number of waiters and waitresses with college degrees more than doubled from in the years 1992-2008, from 119,000 to 338,000, and cashiers with college degrees rose from 132,000 to 365,000.

We should not be taking money from working individuals and businesses to provide grants for immature students to study basket weaving. Providing money for so many people to study things that are not practical and that they are not even that good at is a waste of money. We are not getting a good return for this money if graduates just go on to do jobs that they would have done anyway. The real questions that should be asked by students is “is this worth the money? Will this help me to find a job?” And the real question that taxpayers should be asking is “do we need to stop wasting money on grants for useless degrees and leave the money in the private sector to create more good jobs instead?”.

It’s not good to be sending young people to universities that are run by leftists in any case, because it insulates them from real life and puts them at the mercy of perpetual adolescents (professors). For many students, college is wasted on partying and “studying” impractical and counter-factual areas like feminist studies, peace studies, black studies, Marxist studies, queer studies, etc. We do not need to be sending so much money into the pockets of unqualified leftists like Bill Ayers and Bernadine Dohrn, who bash capitalism while living off of the wealth produced by it.

Hans writes:

In “The Great College Degree Scam,” expert Richard Vedder points out that “[s]ome in higher education KNOW about all of this and are keeping quiet about it because of their own self-interest. We are deceiving our young population to mindlessly pursue college degrees” they don’t need.

Hans also talked about the problem of rising college debt here.