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re: 1 out of 4 bachelor degrees and nearly half of masters degrees have a negative ROI
Posted on 5/11/24 at 5:26 pm to anc
Posted on 5/11/24 at 5:26 pm to anc
quote:
At one end of the spectrum, the bachelor’s degree in drama at the University of Southern California costs students over $160,000 over four years, but delivers earnings more than $10,000 per year below the counterfactual. As a result, I estimate that USC’s drama program has an ROI of negative $540,000.
Do the Film school and it's most assuredly even worse when you factor in the additional $40K to $100K in costs for films you make including a thesis film.
It'll be interesting going forward. Schools aren't going to drop their prices and they need the bullschiff fluff arts and random gender/race studies degrees because they bring in so much money for little costs compared to other disciplines. At some point students will decide it's not worth it, but the schools know foreign students will keep coming and US students that do are guaranteed loans from the taxpayers.
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Posted on 5/11/24 at 6:06 pm to anc
My BS in Geography with minors in Geoinformatics and History is paying off pretty well
Posted on 5/11/24 at 6:06 pm to Bjorn Cyborg
I received a Chemistry degree from Mississippi College.
First 4 years as a Research Chemist made diddly.
Got into Chemical Sales and made more the last 15 years of my work career than a PHD.
its not the degree- its what you can pivot to with that degree.
First 4 years as a Research Chemist made diddly.
Got into Chemical Sales and made more the last 15 years of my work career than a PHD.
its not the degree- its what you can pivot to with that degree.
Posted on 5/11/24 at 6:23 pm to TDsngumbo
That’s it right there. The piece of paper means nothing, it’s the man behind the degree and what he does with it.
Posted on 5/11/24 at 8:31 pm to anc
Probably going to upset some folks.
The degree is only as useful as the person who holds it. The ROI is all individual based.
I've never hired someone solely because they have a piece of paper.
The degree is only as useful as the person who holds it. The ROI is all individual based.
I've never hired someone solely because they have a piece of paper.
Posted on 5/11/24 at 8:36 pm to anc
quote:Surprised it's that low, actually. There's a metric ishton of useless degress.
1 out of 4 bachelor degrees and nearly half of masters degrees have a negative ROI
Simple test: If all your degree does is qualify you to get another degree, or teach those seeking that degree... you're the victim of a ponzi scheme.
This post was edited on 5/11/24 at 8:37 pm
Posted on 5/11/24 at 10:53 pm to Bjorn Cyborg
You clearly don't know much about an undergrad science degree, it has unlimited options. The under grad degrees opens many doors and you generally begin to accelerate after about 2 years of experience if you're willing to move and/or aggressive to advance your career. The Masters/PHD really is of no benefit/required except to teach college or some R&D positions.
Posted on 5/11/24 at 10:53 pm to Bigdawgb
quote:
Most primary care docs, especially ones with a full patient load, are going to make $100-200k a year more than NPs.
Not in my area. But it does vary by region.
Posted on 5/11/24 at 11:12 pm to anc
Honestly having hired a few recent grads and a few who have master's I find that a lot of people who have HE diplomas to be nearly retarded when it comes to critical thinking, basic math and communication skills. How can a graduate with a master's degree not be able to do basic arithmetic, calculate the average of something or write in complete sentences. When I ask them about their work in school, most simply say they did the work assigned them online, were given 1000 opportunities to correct and get extra credit and are not expected to read much. I think the whole fail them up and out model of HS a decade ago, that saw folk graduating HS without being able to read has become the norm for HE now. At the moment, I'd rather have someone with a good attitude and desire to work over someone with an advance degree. Also, oversupply is going to lead to less value and we simply have way too many people going to university. Students are seen as crops and the institution doesn't seem to care about quality, they need to keep the number of asses in the seats high to keep the money flowing.
This post was edited on 5/11/24 at 11:16 pm
Posted on 5/11/24 at 11:17 pm to DiamondDog
This is exactly right. The person and what they bring, attitude especially, is going to be the most important thing in getting into and being successful at a career where you can make money.
Posted on 5/11/24 at 11:21 pm to anc
quote:I think they’re being pretty optimistic at 1 out of 4, I expect it’s closer to half and closer to 2/3 on masters degrees.
1 out of 4 bachelor degrees and nearly half of masters degrees have a negative ROI
Posted on 5/12/24 at 12:15 am to hansenthered1
Online masters degrees are worthless. Nothing but money makers for universities. They don’t even have the selection factor of most graduate programs since anyone that can pay is admitted to online programs.
Posted on 5/12/24 at 5:17 am to llfshoals
quote:
I think they’re being pretty optimistic at 1 out of 4, I expect it’s closer to half and closer to 2/3 on masters degrees.
Well, we do know that neither the OP nor you are college material, because neither one of you seems to have read the actual article.
Posted on 5/12/24 at 5:35 am to hansenthered1
quote:
This is exactly right. The person and what they bring, attitude especially, is going to be the most important thing in getting into and being successful at a career where you can make money.
Work ethic, character, drive, the ability to seize an opportunity, and the determination to pick one’s self up and move forward after setbacks, these are traits that will make you successful regardless of a degree.
Posted on 5/12/24 at 6:24 am to Drizzt
quote:
Online masters degrees are worthless. Nothing but money makers for universities. They don’t even have the selection factor of most graduate programs since anyone that can pay is admitted to online programs.
Most probably are but even then it depends on the university and the field. Georgia Tech offers a few that are I would imagine have quite a nice ROI.
Posted on 5/12/24 at 7:09 am to Mo Jeaux
quote:Or I read it and had previously taken the time to actually look at the list of majors just in the arts and sciences at NYU and couldn’t find 1/3 of their majors there’s a reasonable expectation of finding a job that’s capable of repaying the cost.
Well, we do know that neither the OP nor you are college material, because neither one of you seems to have read the actual article.
Posted on 5/12/24 at 8:04 pm to VOR
quote:
Some folks realize that the education itself is worth a lot.
If those people get jobs with a massive or even significantly negative ROI then those folks are morons.
This post was edited on 5/12/24 at 8:07 pm
Posted on 5/12/24 at 10:06 pm to wackatimesthree
Double post
This post was edited on 5/12/24 at 10:13 pm
Posted on 5/12/24 at 10:12 pm to wackatimesthree
quote:
Medical field is too broad. If you want to become a cardiac surgeon, sure. If you want to be a primary care provider, you might find yourself making less money than an NP in some specialties. Again, like engineering, it depends.
This is even more true for the legal field. There are lots of attorneys just scrapping by even in their 40s and that is rare for docs of any flavor. Biglaw is very lucrative if you can get there and make partner. First-year associates will make just under $250k and comp will increase yearly until they are making $550k currently for their 8th year. The partnership track is longer than it used to be (now 8-10 years) but making partner means $1m+ at most Biglaw firms.
Posted on 5/13/24 at 12:43 am to anc
quote:
We told our kids only five degrees are worth it - engineering, computer science, accounting, medical field, actuarial sciences.
How many wall street firms hire finance majors every year?
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