5 once-prestigious jobs that are now B-List

[marmar]

(MarketWatch) Once upon a time, parents couldn’t stop bragging when their sons or daughters were studying to be lawyers or family doctors. But thanks to our changing job market — and the fact that college and graduate school costs have ballooned — some of these formerly brass-ring jobs are losing their luster. Here are five once-prestigious jobs that aren’t quite what they used to be.

Lawyer

Overall enrollment in law school has plummeted to a 27-year low and enrollment of first-year law students to a 40-year low, according to a report on annual enrollment released in December by the American Bar Association. That’s likely because those considering becoming lawyers know two things: 1) they’ll likely face relatively dismal job prospects upon graduation, and 2) they’ll likely have a ton of debt coming out of law school.

A report released last year by the National Association for Law Placement found that overall employment for recent law grads fell for the sixth straight year in 2013 (to 84.5%); unemployment specifically among 2013 grads was 12.9%, a slight uptick from a year prior. And even those who are employed may not be getting rich — the median starting salary is $62,000, down 13% over the past six years — and still far from the cushy six figures Mom was probably hoping for.

Furthermore, they’ll often contend with six-figure debt. According to the New America Foundation, the typical debt load (undergrad and graduate debt combined) for those who go to law school is nearly $141,000 among those who borrow money — an increase of more than $51,000 from 2004, which is climbing faster than that of many other professions. That means law grads who had to borrow money are likely to face typical monthly payments of nearly $1,200, which can be hard to shoulder if you don’t land a six-figure job. .............................(more)

http://www.marketwatch.com/story/5-once-prestigious-jobs-that-are-now-b-list-2015-01-13?dist=tbeforebell

[Mnemosyne]

1. Pleased to see stock broker on the list. Greedy bastards all. nt

[JI7]

2. what are the Other ones ?

[Jim Lane]

6. The 5: Lawyer, professor, stockbroker, family doctor, travel agent. (n/t)

[krispos42]

3. It's part time for college to be free.

We're becoming increasing stratified as the wealth accumulates with the top 1% and it's squeezing the middle and upper middle class down.

You can make more overall as a HVAC tech or electrician than a lawyer, simply by not starting your career with the equivalent of a mortgage on your back the instant you get your license!

[Liberal_in_LA]

4. agree with the list - professor jobs are super competitive these days

[KamaAina]

5. Hate radio host

[aikoaiko]

7. The creation of new Ph.D.s is a problem for the professordom.

And the academy is no where near being able to ask or address the issue of churning out more PhDs than are needed.

A blind eye will be turned because professors need graduate students to conduct research, produce publishable manuscripts, and in some cases, provide grant money for soft money salaries.

Its generally not about the tuition money for programs that produce PhDs who pursue professorships because often their tuition is waived and stipends awarded. Programs that produce applied degrees (doctorates in business, mental health, nursing, etc), on the other hand, charge big tuition because of private sector salary potential.

[JCMach1]

8. Administrators who believe they are McDonald's is a far bigger problem... as most new jobs are PT

Seriously, $15 per hr. would be a huge raise for most adjuncts as universities use a contact hr. loophole in salary that says pay is calculated only by face-time in the classroom.

Apparently everything else you have to do is GRATIS.

Salary should be calculated on what the load is for FT profs. If FT= 3 sections then payment for 1 class should equal something like 12+hr of salary... not 3 per week.

[aikoaiko]

10. Contingent faculty should be paid more, but they responsible for far less than full time faculty

The scholarship, publication, presentations, leadership in associations, student mentorship, part time admin duties, community outreach, recruitment, and various committees are generally outside the part timer or adjunct responsibilities.

[TexasBushwhacker]

12. I sympathize with someone who has completed their PhD

and wants to pursue a full academic career. However, if some only has their Masters or is ABD (all but disertation), here's an idea - teach in public schools K-12. starting salary for teachers in Houston is over $50K.

[aikoaiko]

14. It's true. K-12 is an excellent option for a PHD. In fact we've had 2 full professors...

... From my department switch over to middle school jobs because they were credited for their degrees and years of service as an educator and therefore the money was better.


But it is tough to give up or delay the higher professor dream.

[aint_no_life_nowhere]

9. The article says that tenure track positions are being drastically cut to SAVE MONEY

for the university. With the tuition some of these universities charge these days, are they really hurting for money? Maybe the job to have is that of college administrator. I went to college in the early 70s. Since then I went back to my old school. I was shocked to see that there was floor upon floor of administrators and secretaries that had dramatically increased, while classrooms and teachers really had not.

[aikoaiko]

11. Some of those tenure track positions were turned into no tenure track jobs.

Still full-time permanent positions but not as well protected as TT jobs. some were turned into part time positions.

Administrative proliferation is a problem and there salaries are rising much faster than faculty and staff salaries.

Some that is not the fault of administrators. The Dept of Ed keeps adding layers of requirements that someone has to do, accreditation agencies keep adding mandates, competition from for-profits means bigger marketing and recruitment teams, etc.

[TexasBushwhacker]

13. Public universities are hurting for money

Support from the states have dropped way down.