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re: GOLDMAN SACHS: College may not be worth it

Posted on 12/9/15 at 9:45 am to
Posted by TheCaterpillar
Member since Jan 2004
76774 posts
Posted on 12/9/15 at 9:45 am to
wang chung
Posted by Artie Rome
Hwy 1
Member since Jul 2014
8757 posts
Posted on 12/9/15 at 9:47 am to
Work, retire, and collect Social Security?
Posted by bawbarn
Member since Jul 2012
4009 posts
Posted on 12/9/15 at 9:50 am to
This is hard to believe. There are ways to make college affordable. Go to an in-state school, get a degree that will get you a decent job, work while you're in school, and control your spending.

The biggest thing is when you graduate and get a job is learning how to pay off debt correctly. You just don't mindlessly throw extra money at debt.
Posted by AUCE05
Member since Dec 2009
45425 posts
Posted on 12/9/15 at 9:54 am to
I don't believe that. I have noticed most people in construction that claim to make 6 figs are full of shite. The honest ones will tell you they pull in 40-50k per year. I have been in the construction industry for 15 years. I don't think most people realize how much money 100k/year really is.
Posted by 632627
LA
Member since Dec 2011
15406 posts
Posted on 12/9/15 at 9:54 am to
quote:

College mostly serves to identify/filter people rather than teach very much.


I think this is spot on.
Posted by GreatLakesTiger24
Member since May 2012
61594 posts
Posted on 12/9/15 at 9:59 am to
quote:

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.
This is the best post in this thread.

Sure, we all have family members, friends, or acquaintances that made millions w/o a degree, but for every one of them, there are dozens of losers making shite money.
Posted by yellowfin
Coastal Bar
Member since May 2006
99043 posts
Posted on 12/9/15 at 10:00 am to
and just as many losers with college degrees making shite money
Posted by Riseupfromtherubble
You'll Never Walk Alone
Member since Jun 2011
40276 posts
Posted on 12/9/15 at 10:00 am to
I went to a job fair with one of our recruiters recently, and she said that for most training/entry level positions we're hiring for that "require" a degree only do so for one reason..it shows a person has commitment and will finish what they start


That said, the guy with a lick of intelligence and industry experience gets the job 9/10 times if his competition is a kid fresh out of college with no industry experience.

There are welders and boilermakers that make well into 6 figures a year. Now, they're nomads that might work 80 hours a week, and that lifestyle isn't for everyone, but if you're willing to learn a skill and work more than you live, you can make a lot of money
Posted by TheCaterpillar
Member since Jan 2004
76774 posts
Posted on 12/9/15 at 10:04 am to
quote:

I don't believe that. I have noticed most people in construction that claim to make 6 figs are full of shite. The honest ones will tell you they pull in 40-50k per year. I have been in the construction industry for 15 years. I don't think most people realize how much money 100k/year really is.




Well he designs and builds really high end master bathrooms and has 1 employee and has so much work he has to turn down clients. He's a contractor as well as plumber, but started as a just a master plumber.
Posted by GreatLakesTiger24
Member since May 2012
61594 posts
Posted on 12/9/15 at 10:04 am to
definitely not "just as many," especially if you narrow it down to decent degrees.

and the money isn't as bad.

Posted by athenslife101
Member since Feb 2013
20650 posts
Posted on 12/9/15 at 10:04 am to
All I'll say is if I'd joined the military out of HS, stayed for 4 years and gotten a degree afterwards, I'd be making a hell of a lot more money than just doing internships.

As for the need for a degree. Most of the jobs I apply for don't require a specific degree. All they care about is experience.

As forthe amount of people who go tocollege? Yep, there are too many people going to school. I don't know if trade jobs are necessarily the answer.

As for trade school guys eventually going to college. That's also jobs for that. I saw a company looking for an engineer with:
A masters in engineering
4 years of welding experience
2 years of carpentry experience
4 years of (another trade, I forgot)
Posted by Placebeaux
Bobby Fischer Fan Club President
Member since Jun 2008
51852 posts
Posted on 12/9/15 at 10:04 am to
He lives with his brother who's a lawyer and helps him with cases. They are both single so it works out.
Posted by TheCaterpillar
Member since Jan 2004
76774 posts
Posted on 12/9/15 at 10:07 am to
quote:

I saw a company looking for an engineer with:
A masters in engineering
4 years of welding experience
2 years of carpentry experience
4 years of (another trade, I forgot)



Jesus.

How many people with those credentials even exist on this planet? The trade stuff sure, but those things PLUS a masters in engineering? WTF
Posted by Jizzy08
Member since Aug 2008
12436 posts
Posted on 12/9/15 at 10:11 am to
quote:

Can you get a job at Goldman Sachs without a degree? Doubt it?



Actually, my girlfriend's mom is the head of the compliance dept. at a Goldman branch without a college degree. She started as being the former head's secretary, learned the job better than anyone, and after he retired, she moved into his job.
Posted by N2cars
Member since Feb 2008
40380 posts
Posted on 12/9/15 at 10:16 am to
quote:

so we are saying these guys that are lost running a two-man shop should have went to college?


No.

I'm saying some people will make more working for other people.
Posted by saderade
America's City
Member since Jul 2005
26506 posts
Posted on 12/9/15 at 10:18 am to
quote:

GOLDMAN SACHS: College may not be worth it
Not if you are taking out big loans for a degree with not much upside.

Going to LSU for basically free is definitely worth it imo
Posted by N2cars
Member since Feb 2008
40380 posts
Posted on 12/9/15 at 10:23 am to
quote:

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.


All of this plus:

not understanding a P&L
underestimating expenses
not adjusting to changing market conditions
lack of financial backing
not understanding that time really is money
trying to do everything in-house
not understanding the importance of sales and recurring revenue.

I could write a book.
Posted by GreatLakesTiger24
Member since May 2012
61594 posts
Posted on 12/9/15 at 10:31 am to
Is it bad that I want businesses that post listings with requirements like that to go broke?
Posted by Epic Cajun
Lafayette, LA
Member since Feb 2013
37483 posts
Posted on 12/9/15 at 10:40 am to
quote:

I don't think most people realize how much money 100k/year really is.


Not enough
Posted by jrodLSUke
Premium
Member since Jan 2011
26538 posts
Posted on 12/9/15 at 10:43 am to
Let's make a lists of pros for going to college and weigh that against the cost of attendance:

1. Co-eds

My work here is done.
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