The latest NBC News poll shows two-thirds of registered voters down on the value proposition of a degree. A majority said degrees were worth the cost a dozen years ago.
Americans have grown sour on one of the longtime key ingredients of the American dream.
Almost two-thirds of registered voters say that a four-year college degree isn’t worth the cost, according to a new NBC News poll, a dramatic decline over the last decade.
Just 33% agree a four-year college degree is “worth the cost because people have a better chance to get a good job and earn more money over their lifetime,” while 63% agree more with the concept that it’s “not worth the cost because people often graduate without specific job skills and with a large amount of debt to pay off.”
As someone absolutely killing themself to barely tread water with a fairly well paying job after getting a graduate degree, the kids are unfortunately correct.
How does that delta compare to people who didn’t go to college?
Most college graduates seem not to fully appreciate just how shitty things have gotten for the non-grads in the past 30 years.
Well, most of the people I grew up with are in the trades or just didn’t go to college and they’re not thriving, but they’re doing fine. They can mostly afford houses (in large part because of the low cost of living in their areas) and to have some modest savings, which is more than I can say being tied to high cost of living areas where I can use my degree and being completely unable to save anything thanks to Daddy Student Loan Servicer. I get what you’re saying, but I’m very aware of how those without degrees are doing since those are the people I grew up with and still maintain friendships with.
Are you under 30? The blue collar trades income trajectory is pretty flat over time, so it’s the 30’s where college educated careers tend to come out on top, and the 40’s and 50’s where college grads really start running away with a huge gap.
Plus in any trades job into the BLS Occupational Employment and Wage Statistics, and you’ll generally see lower median wages (and much lower 25th percentile wages) than pretty much any white collar college educated career.
And living through a few business cycles also shows that non-college jobs, including the trades, are just less stable (and tend to force earlier exits to retirement or disability).
Keep your head up. High pay in HCOL areas tends to pay off over time, because not all costs scale the same, and being able to pay down debt or save a higher number of absolute dollars is better for your long term financial health.
Ah that could be part of it. I’m in my 30s but in a career with a notoriously long ramp up.
The trades seem to be doing just fine from what I can see
That’s just a small subset of non college grads. If you’re going to compare people who are aiming for a specific profession in a specific industry, you should look at the career outcomes of the college path, too, with specific majors that are feeders into specific careers.
Maybe you can argue that plumbers are doing “just fine” with the median wage at around $60k per year (across the entire career trajectory from the age of 20 to 60), or that welders make a median $50k, but those numbers don’t come anywhere close to accountants ($81k), financial specialists ($82k), financial analysts ($102k), electrical engineers ($112k).
And you could argue that I’m cherry picking professions, and I am, but simply by saying “trades” is also cherry picking a profession.