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re: GOLDMAN SACHS: College may not be worth it
Posted on 12/9/15 at 9:32 am to NYNolaguy1
Posted on 12/9/15 at 9:32 am to NYNolaguy1
quote:
I think it's a loaded stat. Unionized NYC apprentice plumbers in some cases average 80k/year with overtime.
It showed the top 10% salary earners as well. That isn't loaded.
1
Posted on 12/9/15 at 9:32 am to 13SaintTiger
My wife has a cousin that has more degrees than a compass. He graduated with degrees from LSU, Texas, Vanderbilt, Yale, Oxford(England) and maybe a few more. He is now 50 and doesnt work because what check he would get would be garnished to oblivion due to student loan debt. He has passed the point of demising returns. 
Posted on 12/9/15 at 9:33 am to N2cars
quote:
That is not a good answer for most, although I agree, that would be the correct call.
A lot of people think knowing how to plumb or run wire means you know how to run a business that plumbs or runs wires.
Beyond a one or two-man shop, most of those guys are lost.
The difference in now and 40 years ago is that people who never went to school for business can run quickbooks, turbotax, etc. These things have eliminated the knowledge gap and overhead costs of small businesses.
But I agree it takes business savvy and experience to run a business. You just don't need an MBA or bachelors degree to have those things.
Posted on 12/9/15 at 9:34 am to Placebeaux
quote:
He graduated with degrees from LSU, Texas, Vanderbilt, Yale, Oxford(England) and maybe a few more. He is now 50 and doesnt work because what check he would get would be garnished to oblivion due to student loan debt
Sure.
Posted on 12/9/15 at 9:34 am to 13SaintTiger
The idea that every child needs to go to college is just stupid.
Posted on 12/9/15 at 9:34 am to Placebeaux
quote:
He graduated with degrees from LSU, Texas, Vanderbilt, Yale, Oxford(England)
WTF?
Posted on 12/9/15 at 9:34 am to Martini
Exactly Martini. Our electricians going to have someone hand them 50/hr the day they get licensed? No. But to act like getting 40 to 50 an hour is like hitting the lottery is being close minded.
Posted on 12/9/15 at 9:34 am to TheCaterpillar
:JLawOkay:
Posted on 12/9/15 at 9:35 am to 13SaintTiger
quote:
It takes more than a year to grow up and figure things out.
Better than nothing.
That year could be used for internships and/or a labor job.
Posted on 12/9/15 at 9:36 am to 13SaintTiger
Posted on 12/9/15 at 9:36 am to TheCaterpillar
I used to do accounting work with contractors. Quickbooks and other bookkeeping programs have massively bridged the gap. Yeah they'd have some issues, but an interest/penalty of 6k per year if you're audited vs. not having to pay a bookkkeeper a full time wage? Easy decision.
Posted on 12/9/15 at 9:37 am to TheCaterpillar
quote:
You just don't need an MBA or bachelors degree to have those things.
Agreed, I'm proof of that.
That said, the idea that most people can do it, degreed or not, is a mistake.
There is a reason that the majority of small businesses fail and TBH, lack of formal education is probably way down on the list.
Posted on 12/9/15 at 9:38 am to 13SaintTiger
quote:
It showed the top 10% salary earners as well. That isn't loaded.
Then I call BS on those stats. Either that or NYC has the top 1% of the trade employee salaries in the US.
I know how much these trade guys charge as I analyze their bids as part of my job. It's really sad when I see their billing rate is higher than mine, and either they work for themselves or they have far less responsibility than most engineers do.
Posted on 12/9/15 at 9:38 am to Phat Phil
But plumbers make 6 figures......
Posted on 12/9/15 at 9:39 am to N2cars
quote:
That is not a good answer for most, although I agree, that would be the correct call.
A lot of people think knowing how to plumb or run wire means you know how to run a business that plumbs or runs wires.
Beyond a one or two-man shop, most of those guys are lost.
so we are saying these guys that are lost running a two-man shop should have went to college?
Posted on 12/9/15 at 9:40 am to N2cars
quote:
There is a reason that the majority of small businesses fail and TBH, lack of formal education is probably way down on the list.
I think this is mostly due to lack of discipline and accountability.
It takes a certain kind of person with the right drive to run their own business. Honestly, most people need a boss/manager to tell them what to do and to have the threat of being fired as motivation to work hard. Its sad, but its true.
If you own your own business you answer to no one (besides the Gubment’) and you have to self-motivate.
Posted on 12/9/15 at 9:41 am to TheCaterpillar
Sounds like GS is trying to keep the poor people down. They don't want to have to fraternize with some redneck from Alabama because he managed to get a scholly to Harvard.
Posted on 12/9/15 at 9:42 am to Fat and Happy
quote:
My brother went to school to be an electrician. After he worked for his first company for 6 years, he went and opened his own company with one of his buddies.
He actually made right at 100K working for someone with all the overtime they had from the jobs. Now he makes bank owning an electrical company.
Not having a college degree isn't a bad thing. There are tons of college degrees that amount to a bunch of bullcrap
This is always the response to not needing a degree to make it. As if starting and maintaining a successful business is easier than being able to get a solid ROI on a degree.
Posted on 12/9/15 at 9:42 am to yellowfin
quote:
so we are saying these guys that are lost running a two-man shop should have went to college?
He didn't say that at all. He pointed out the ridiculousness of your assertion that just anyone can own and successfully run a business.
Posted on 12/9/15 at 9:44 am to Artie Rome
well what should they do?
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