College Degrees More Expensive, Worth Less in Job Market

[OhioChick]

2 hrs 45 mins ago
Employers and career experts see a growing problem in American society - an abundance of college graduates, many burdened with tuition-loan debt, heading into the work world with a degree that doesn't mean much anymore.


The problem isn't just a soft job market - it's an oversupply of graduates. In 1973, a bachelor's degree was more of a rarity, since just 47% of high school graduates went on to college. By October 2008, that number had risen to nearly 70%. For many Americans today, a trip through college is considered as much of a birthright as a driver's license. (See pictures of the college dorm's evolution.)


Marty Nemko, a career and education expert who has taught at U.C. Berkeley's Graduate School of Education, contends that the overflow in degree holders is the result of many weaker students attending colleges when other options may have served them better. "There is tremendous pressure to push kids through," he says, adding that as a result, too many students who aren't skilled become degree holders, promoting a perception among employers that higher education doesn't work. "That piece of paper no longer means very much, and employers know that," says Nemko. "Everybody's got it, so it's watered down."


What's not watered down is the tab. The cost of average tuition rose 6.5% this fall, and a report released on Dec. 1 by the Project on Student Debt showed that the IOU is getting bigger. Two-thirds of all students now leave college with outstanding loans; the average amount of debt rose to $23,200 in 2008. In the last academic year, the total amount loaned to students increased about 18% from the previous year, to $81 billion, according to the U.S. Department of Education.

More: http://news.yahoo.com/s/time/20091209/us_time/08599194608800

[zazen]

1. this is so true; we've got surplus PhDs too while the professoriate is being gutted

[notesdev]

2. most degrees don't mean squat anymore

If you've ever been in the position to hire people, you know that a college degree doesn't even guarantee basic literacy.

[stray cat]

3. Try getting a job without being a high school grad or without a degree

A degree is no longer a guarantee for a job but graduates are chosen over nongraduates and the college grads take jobs that used to be accessible to those without a degree.

[buddysmellgood]

4. I think it depends on the degree. Study engineering and you will find a job.

[Liberal_in_LA]

5. and professional degrees are necessary for the field: MD, DDS, JD

[Manifestor_of_Light]

9. My BA and JD have NEVER helped me get a single job at all.

Professional degrees don't mean you'll get a job. Lawyers have been laid off in droves for several years now. And I tried to get a job as a legal assistant with a J.D., not some Mickey Mouse paralegal certificate from some ripoff proprietary school.

[smoochpooch]

16. Me too, I'm a 3L and nowhere near the top of the class.

Hell, I'd be happy with the top 50% (I had a bad semester last spring!) I have no clue where I can find work when I'm done. I would be willing to go anywhere in the country, but unfortunately it's tougher to follow jobs around the country as a lawyer because you have to pass the bar in that state. I'm going to try to get a part-time job next semester just to get my foot in the door somewhere in case I can't find anything else.

[zazen]

6. chem eng grad across street left construction for Harris Teeter job

We're in the Research Triangle. It's that bad. He's young, had good grades, and went to NC State.

And I understand ageism in engineering is really bad. I would have thought this fella could get a job--that it's the ones over 40 who are being laid off first.

[Ruby the Liberal]

7. You can barely get just-above min wage without a Bachelor's today.

Yes, it adds NOTHING to your skill set in many cases, but employers are requiring it as a minimum for the most mundane "careers".

[C_Lawyer09]

15. I encourage all with the slightest aptitude for the trades

To become an electrician or a plumber. Some might argue with my assertion, by I don't currently know of an out of work journeyman plumber or electrician, moreover, most make pretty darned good money. As an aside, I'm wondering why there are so many posts by du teachers about the injustices of their chosen profession, union failures, etc. and I'm not hearing anything from cops. Is it because there is a lack of law enforcement personnel on du, or is it that they feel they are justly compensated for their duties. Is it that teachers feel that they deserve more money for personal funds put forth toward their education? I'd be interested in hearing any responses. Just so people don't feel I'm being unfair, I'm a Bachelors degree recipient, recent military retiree, that is working a part time job for 1,200 bucks a month. Probably could do better, but tired of the telephonic interview, followed by the individual interview, to schedule the panel interview, as these interviews aren't paid. I know the days of a handshake, and an honest days work for an honest days pay, seem to be a thing of the past, but I'm a sucker for small business, where there still is team concept, and shared sacrifice for realized goals.

[conflictgirl]

18. I graduated magna cum laude and am working 18 hours a week

It took me 8 months after graduation to find this. I have a good hourly wage and my job does require a degree, but nonetheless, it's still only 18 hours a week. I have more than $30K in student loans and a family to support; I went back to school because all I was qualified for before were $8 an hour jobs. When I took this job, I was also in the running for another job that was basic clerical for a small business - they wanted a college graduate of any major who had a minimum 3.4 GPA and the job paid $10 an hour with no benefits. I was told that they had over 100 applicants who met that criteria and I was lucky enough to make it into the final 5 candidates until I chose to accept the job I have now.

It's pretty sad when a $10 an hour job with no benefits can specify college grad with minimum 3.4 GPA and get 100 applicants in a small town. In light of that it's understandable why many are afraid to skip college altogether - your options are even more limited with only a high school diploma.

[C_Lawyer09]

8. Ironically I recently got bumrushed for making the same contention

Many on du claim that everybody is entited to a college education. My question is, why? Our job market is glutted with college grads, so much so, that as the article asserts, they are de-valued. This adversely affects many. Most j.c.'s provide good bang for your buck, and are usually more applicable within the job market. I, who once championed college education, was extremely let down, when in the process of pre-qualifying applicants for Army service, passing the Armed Services Vocational Aptitude Battery, was a crap shoot, previous education be damned. A few responses made the point of the fact that the test measures aptitude for an area, not skill. While this is true, most of the test is made up of verbal, math, and science questions at the 9-10th grade level. The two questions I'd ask, prior to administering, the 20 min. pre-test were: What is half of seven and one half? And, read me this word, I'd write down chaos, on a piece of paper. High school grads, and above answered those two questions correctly about fifty percent of the time. Enterprise Rent A Car requires a B.A. to work in the office. Most insurance companies require a BA, as a prerequisite for hiring. My contention is, we must make our ed. system more relevant, as the Germans and Japanese have very successfully done, mainly through industry partnerships that usually start at the eighth grade level. Especially when a young man or woman wants to work in the trades. There should be an apprenticeship beginning in 8th or 9th grade, wherein they can achieve journeyman status prior to graduation. This would eliminate the price gouging that vo-tech schools often engage in, charging 40-50k often for a one year program. Many contend that are shitty economy drives our young people into the service. While this may be partly true, so does the lack of any career focused work study programs. When I was in high school during the late 1980's, work study people headed out to the local Taco Bell or McDonalds for a half day of work exp. I'm not slamming fast food, but I think we can do better. Several on du, who were ripping the troops to teachers program, knowing little about the specifics of the program, seemed more butt hurt that vets recieve G.I. Bill benefits, either Montgomery or Post 9/11, while they, (the real scholars)are still paying back student loans. Their comments revolved around, "the vets I work with" and "Drill Sergeants in the classroom" comments. I want to add, the reason vets are sought after by many employers, is because of their "mission first" and selfless service mentality. This response is taking on the characteristics of a rant, so I'll sign off.

[aikoaiko]

11. I'm not one to say everyone is entitiled to a college ed, but I support those who seek more ed.

I think there is still value in a broad education (a liberal arts education), but I advise people to avoid going into debt to achieve this broad education.

[rockymountaindem]

10. Maybe employers should start asking for transcripts

This thought has only recently occurred to me as a result of teaching a bit in a fairly well-respected university (evidently we are in the top 20 in the US according to the Times supplement 2009 rankings). It is kind of galling that the smartest students in my classes will basically walk out of here with a degree no more meaningful than those who skate by with a minimum of effort and manage a bunch of C- marks. Since nobody ever fails out, there's really not a lot of differentiation between them. I think that if employers started asking for a college transcript as part of the hiring process, that might change. It would probably also encourage college students to work harder. Just my humble opinion.

[aikoaiko]

12. Obligatory post: GA state tuition is free if you graduate HS with a 3.0 (Hope Scholarship)

Plus people can move to Georgia, pay for their first year in college, and then receive the Hope Scholarship for the remaining three years. Plus you get $300/semester for books.

Its a good deal and I invite DUers to come to Georgia. Heck, even our out of state tuition is better than some of your instate tuition.

[C_Lawyer09]

13. My stepson was a hope recipient

And I made note of a similar program in WA state where I lived for the past 4.5 years. It continues to gall me, as I mention all the many and various programs that I know of, and am continually made aware of. I begin to feel that many want to protest lack of availability, versus realize that there is actual programs for people who demonstrate skill and capacity for higher learning. There is much out there, in addition to the GI Bill. What several would rather do, is sing the song of, there is only programs for vets, which is obviously not the case.

[Jkid]

14. If college degrees are worth less?

Where can just graduated grads, even with a B.A. can find jobs, even just for survivial? You can't get a basic service job with a B.A. because you'll be overqualified.

I do not want to mention the "no job, no experience;no experience, no job trap"

[Book Lover]

17. Part of this is what you can get a degree *in*

My favorite example is the BA in Human Resources. How did that ever become part of the academy? Only because college and universities are increasingly corporatized.

[C_Lawyer09]

19. That is a damn good point

When indeed? Lets play a game, it's called invent a curriculum!