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re: GOLDMAN SACHS: College may not be worth it

Posted on 12/9/15 at 9:12 am to
Posted by Jcorye1
Tom Brady = GoAT
Member since Dec 2007
76373 posts
Posted on 12/9/15 at 9:12 am to
More than half of the college graduates don't ever make 75k in their lives? I just don't believe that statistic.
Posted by Artie Rome
Hwy 1
Member since Jul 2014
8757 posts
Posted on 12/9/15 at 9:12 am to
quote:

College may not be worth it


Depends on how you are defining "worth it."
Posted by NYNolaguy1
Member since May 2011
21849 posts
Posted on 12/9/15 at 9:12 am to
quote:

What's the alternative?


Find a cheap school that will teach you an in demand skill. A good argument could be made for trades or science/engineering schools at the moment. Surprisingly English and History majors that pay $100k for their degrees are not in demand.

For their part, Louisiana's public colleges are still a good value.
Posted by NYNolaguy1
Member since May 2011
21849 posts
Posted on 12/9/15 at 9:13 am to
quote:

I just don't believe that statistic.


How many English major housewives go on to never work?

Posted by UGATiger26
Jacksonville, FL
Member since Dec 2009
9128 posts
Posted on 12/9/15 at 9:14 am to
quote:

What's the alternative?


The alternative is that we stop with the BS narrative that you can't "make it" without a 4-year college degree.

We have to stop confusing "Everyone should go to college" and "Everyone should be able to go to college"

The former is bullshite. The latter has some merit.

This post was edited on 12/9/15 at 9:15 am
Posted by GreatLakesTiger24
Member since May 2012
61594 posts
Posted on 12/9/15 at 9:15 am to
ok. I bet most college grad breadwinners make at 75k at some point.
Posted by NYNolaguy1
Member since May 2011
21849 posts
Posted on 12/9/15 at 9:15 am to
quote:

A good plumber or electrician can make 50/hour. Even assuming 6 billable hrs per day thats 300/day, 1500/week, 75k/yr with 2 weeks vacation.


When was the last time you hired a plumber? Their hourly labor rates are $100+/hr, sometimes $150/hr.
Posted by Jcorye1
Tom Brady = GoAT
Member since Dec 2007
76373 posts
Posted on 12/9/15 at 9:16 am to
Yuck, so it's a loaded statistic is what you're saying. If you only use your degree for two years, you shouldn't be included in a statement like that.
Posted by yellowfin
Coastal Bar
Member since May 2006
99043 posts
Posted on 12/9/15 at 9:16 am to
quote:

That's the easy answer but technology will advance to where we don't need as many human hands doing skill/trades.




I don't believe that's going to happen in our life time.


Posted by 13SaintTiger
Isle of Capri
Member since Sep 2011
18419 posts
Posted on 12/9/15 at 9:16 am to
quote:

The alternative is that we stop with the BS narrative that you can't "make it" without a 4-year college degree.

We have to stop confusing "Everyone should go to college" and "Everyone should be able to go to college"

The former is bullshite. The latter has some merit.




The only way that mindset changes is through leadership at the state, federal, government level. Basically, it wont ever change. So I pose you with the question I asked Pectus...

quote:

Are you saying that if one does not have a scholarship out of high school or can't pay for college via parent's college fund, they shouldn't attend?
Posted by foshizzle
Washington DC metro
Member since Mar 2008
40599 posts
Posted on 12/9/15 at 9:16 am to
For the "typical" student this analysis is already behind the times. College mostly serves to identify/filter people rather than teach very much.

As others have pointed out there are plenty of skilled trades that pay pretty well. I personally know a guy who owns his own industrial-scale HVAC company and makes a frickton of money despite (or maybe because) he went to work immediately after high school.
Posted by JG77056
Vegas baby, Vegas
Member since Sep 2010
12080 posts
Posted on 12/9/15 at 9:17 am to
quote:

What's the alternative?


Audit the 3 or 4 classes you actually need to know, don't pay a dime, then lie on your resumé and say you went to college. Pretty sure none of the companies I've worked for have ever contacted the registrar to make sure I graduated.
Posted by 13SaintTiger
Isle of Capri
Member since Sep 2011
18419 posts
Posted on 12/9/15 at 9:17 am to
quote:

When was the last time you hired a plumber? Their hourly labor rates are $100+/hr, sometimes $150/hr.


Quit pulling stats out your arse.



quote:

As of Sep 2015, the average pay for a Plumber is $20.15/hr or $49263 annually.
Posted by LSU0358
Member since Jan 2005
8187 posts
Posted on 12/9/15 at 9:19 am to
A journeyman electrician in a plant makes ~40/hr. His boss makes significantly more than that, with no degree.
Posted by 13SaintTiger
Isle of Capri
Member since Sep 2011
18419 posts
Posted on 12/9/15 at 9:19 am to
quote:

I don't believe that's going to happen in our life time.


Meh, I do. Just the drastic change from 2000 to 2015 is incredible as compared to the decade prior.
Posted by maine82
Member since Aug 2011
3320 posts
Posted on 12/9/15 at 9:19 am to
quote:

What's the alternative?


1. Get a skilled trade OR go to a state school.

2. If you go to a state school, major in something that will produce a job. Nursing, medical school, engineering, computer science, etc.

None of the professions mentioned above lack for money.
Posted by airfernando
Member since Oct 2015
15248 posts
Posted on 12/9/15 at 9:20 am to
quote:

Seems like a lot of entry level work could be done by anyone with an above average intelligence.
That's true, but a person can't move up very much in management without at least a Bachelor's degree.

The bigger point here should be for people to go to less costly universities. A degree from Vandy is better than most universities, but it's not that much better.
Posted by yellowfin
Coastal Bar
Member since May 2006
99043 posts
Posted on 12/9/15 at 9:20 am to
quote:

Are you saying that if one does not have a scholarship out of high school or can't pay for college via parent's college fund, they shouldn't attend?



I would agree with that
Posted by 13SaintTiger
Isle of Capri
Member since Sep 2011
18419 posts
Posted on 12/9/15 at 9:20 am to
quote:

A journeyman electrician in a plant makes ~40/hr. His boss makes significantly more than that, with no degree.


So you went from 50 to 40 with nothing but anectdotal evidence to back up your claims. A quick google search shows me that that is not the mean salary. Regardless of what your friend or your boss makes, it's not the norm.
Posted by N2cars
Member since Feb 2008
40380 posts
Posted on 12/9/15 at 9:21 am to
quote:

learn a skill/trade


Tough to do a lot of those types of jobs in your 50's.
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