Thursday, April 13, 2006

What Is A College Degree Worth?

So I am now finally adjusting to the culture shock of being in the "real world".
I was taught growing up the magic formula for life which was in order to succeed in life you need to: 1.) go to college, 2.) make good grades, and 3.) participate in internships. Well I did pretty well with following these requirements. I wasn't the A student in school and looking back, if perhaps I was actually advised to focus on my natural God giving talents and interests I might have actually enjoy school a little more. However, I was told to focus on a popular career, high salary, and choose a major based on what paid the most.

I like many people thought I wanted to be an attorney, mainly, due to the prestige and clout. I had no idea earlier on what type of law I wanted to practice. In fact, I only thought there were only criminal lawyers (LOL). Thanks to movies like The Firm, (LOL). One day I was blessed with the opportunity to meet a very successful entertainment attorney. It was at that moment, I thought law was the way to go. She had access to the fame without being a celebrity and was making major dough. The only problem during my senior year in high school, I started doing some massive research on Law Schools and the lifestyles of the average attorney.

For starters, I don't want to spend all of my time reading and briefing cases. Just because you have a J.D. behind your name doesn't mean you're going to be making $300 plus an hour. But more importantly, I don't love law or being a lawyer. So as I fast-forward into college, initially I was an English major (thinking I would go into law). I got a job working at Sunglass Hut and I noticed while at my job a few things: a.) I was good at selling, b.) I was a people person (I enjoyed wowing people), and c.) I was always interested in the corporate structure of the company. I didn't care about the store manager but more the executive managers. So I decided to major in business and never looked back.

So I figured now I've found my way. I am going to be a business woman and knock Corporate America out. During my study in college all of my professors kept pushing us to do internships and you will come out making a good salary. Well I did a few internships; I interned at two record labels and a well known consumer product company. The experiences were priceless; I learned valuable real life lessons. But for the sake of a long post let me bring the topic home.

My Friends and I thought we would transcend into the world making big money. But guess what? No one will pay you $60,000 a year with no job experience. When was I suppose to accumulate this experience if I was in school full time the majority of my life? If it is unrealistic for me to assume I will graduate making at least $50,000, then how does one expect us to pay back those massive student loans? From this point of view higher education appears to be the worst return on investment in our recent days.

Then you have those who don't want to adjust to realty and actually go out and earn a living; they would rather accumulate more debt, stay in school and get graduate degrees. I am not at all against post graduate degrees. But there are only two ways at this point I will receive my MBA; 1.) Pay for it on my own or 2.) A company will flip the bill. Do you really think someone will pay you $80k plus with no relevant job experience just because you have a post graduate degree? I suggest at least $80,000 because that's what the average student will owe once they are finish with their post graduate education. Someone please tell me what my Bachelor of Science in Business Marketing is really worth?...

1 comment:

Anonymous said...

I had to laugh when reading your entry because it is so true. I'm putting graduation off an entire year just so I don't have to face the real world. Meanwhile, I'm grad-school bound without a dime in my poket. Too bad my undergrad is useless if I decide not to go to grad school. ...*sigh*

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