re: Recent college graduates unemployment has surpassed total unemployment for the first time

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For example, my company just restructured how bonuses and employee relocation benefits are handled. Used to be that bonus was based on salary at the time the bonus was given, now it's based on a blend of the previous twelve months. Before there were relatively generous moving bonuses to take some of the sting out of up and moving your life at a relative moment's notice. Practically anyone who was asked to relocate got that package. Now it's been changed to only VP and above level (So like ~150 people out of a 12k employee company). Those are relatively small potatoes in the grand scheme, but it's just an example of some of the bullshite going on at these large companies. We got a new CEO a year an a half ago after the previous guy retired after a very successful and lengthy run. The new guy's first order of business was to cut a bunch of quality of life benefits for his employees (who surprisingly came up through the ranks as a technical guy and isn't some MBA dweeb)

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We’ve had several of these as well and they’re total bullshite. The worst in my opinion, is we used to offer an online masters program free for employees that got them the hours they needed to sit for certification and they up and out of the blue changed it to only managers and above. Well, one you can’t be a manager or above without certification so it effectively ends the program. And, two, they used it as a recruiting tool telling inters that is an alternative to a traditional masters that they have to pay for. So we were going to have interns coming back told they could enroll in this program free of charge that was just taken away from them.

Ultimately I believe they did grandfather some people in, but just total bullshite, and I said something about it to leadership. You don’t just pull the rug out from under people like that, certainly with no lead time

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Well, one you can’t be a manager or above without certification so it effectively ends the program

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Hey we aren't eliminating a benefit, we're just reducing eligibility to a point that no one can take advantage of the benefit. Totalllllly different.

Kind of like that, part of the moving package I mentioned in my OP was that if they moved to you location A, and then moved you again to location B, if the house you purchased at location A didn't sell for at or above a certain amount (not a full blown appraisal, but like a BPO) after 6 months, the company would offer to buy your house for the lesser of what you paid for it initially or the BPO. So essentially, assuming there wasn't some sort of significant market correction, you'd at least get what you paid for it out of the house if they are moving you.

That was part of the moving package until about a year or so ago aka the first time in forever that such a benefit actually had a chance of being used.

I understand that's a really solid perk and one that many companies wouldn't offer, but my company DID offer that when company financials were not nearly as strong as they are today. And either way, it's such a niche situation that it'd be what, a few hundred grand expense (worst case scenario) for a company that does nearly 11 figures in net income. What real purpose does it serve to eliminate that other than potentially pissing off the people who are considered your highest performers and future of company leadership?

This is going to be biggest for non-engineering, non-medicine degrees.

We have way too many Comp Sci majors these days and there really aren't that many jobs for them to begin with and now as others mentioned, AI is taking over much of that.

If you are an engineering student, you will be fine.

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have visited this thread a couple of times and still can’t make heads or tails of the chart and associated verbiage. It appears to be some bullshite trying to convince me of something…but I can’t figure out what the message is

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Here is the raw data without any commentary - Federal Reserve Bank of NY

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What do you define as a useless degree? English? Philosophy? Theoretical Physics? Journalism? Who decides?

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One in which the skills/ideas being taught are not marketable in any way. The HR dept and hiring manager typically decides.

That's true, but there is an intrinsic value to any degree.

It tells the future employer that you can finish something, and more importantly, you can be taught.

We all know people that have had doors opened because they had a degree, and became very successful, even though their degree wasn't germaine to their profession.

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That's true, but there is an intrinsic value to any degree.

It tells the future employer that you can finish something, and more importantly, you can be taught.

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Sure. I’m not disputing any of that. This (along with the abundance of college graduates) is why it’s turned into a screening requirement for tons of jobs.

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We all know people that have had doors opened because they had a degree, and became very successful, even though their degree wasn't germaine to their profession.

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I’m not disputing this either, except to say that I think there are a lot more people who would describe their careers this way with engineering degrees than philosophy degrees. To me, there’s a bit of difference between a degree checking a box (meeting minimum requirements to be hirable at a company) vs. actually opening doors.

That doesn’t mean I think everyone should go to school for engineering. Just that people should be more realistic in their expectations when they get degrees in arts/humanities. If your only plan is to get a degree (any degree) to become hirable, I don’t think you should be surprised or disappointed if that’s reflected in the outcome.

Some people just have the skills and intelligence to be successful in whatever they do. I would argue that the story of an extremely successful businessman who started off with a philosophy degree isn’t that much different than the story of an extremely successful business owner who started off as a plumber. Both are outliers.

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Virtually no one needs to get their first degree as a business degree.

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We don’t need people in accounting or finance?