Is the Value of a College Degree Depreciating?
Whats the true value of a college degree?
Once upon a time, a college degree matched the equivalence to a new iPhone when it was first introduced. Its value was at an all-time high because not too many people had one, which sparked a higher demand of obtaining it. But today’s generation has transitioned from desiring a college degree to expecting one and this change is synonymous to how the iPhone is now a universally accessible to a wide variety of cellphone carriers. Here is why a master’s degree is the new bachelor’s degree and a bachelor’s degree is the new high school diploma.
There is a correlation between the amount of students graduating from college and the increase of competition to find a career after graduating. Many companies enlist the requirement of obtaining a bachelor’s degree for applicants to secure a position. Now, more students are obtaining a bachelor’s degree and this results in companies either raising their standards for require a master’s degree or students choosing to pursue a master’s degree in order to standout in the pack of competition.
Unfortunately, there are students with bachelor’s degrees competing with students who only have high school diplomas. The reason why this continues to happen is because companies are cognizant of the flexibility in salary for someone who just has a high school diploma. Students with high school diplomas are willing to work for less money than someone who has a bachelor’s degree because those students are expecting to be paid more due to their certification in whatever field of study he or she completed. The higher the college degree the more income you are expected to make. Internships are another way of college students separating themselves from the competition to show more certification, but there is a huge misunderstanding about the pursuit of a college degree and the outcome of the achieved pursuit.
Majority of us students rely on thousands of dollars in loan money just so we can remain in school. Sallie Mae is the wealthiest lady on this planet and Uncle Sam is the wealthiest man. There is so much irony at play when graduating college to find a career affluent enough to pay back all the loan money you spent to own a college degree. So, is a college degree worth the amount of money you spent on it? Here is a clear example; let’s say you graduate in four years and realize you are about $60,000 in debt, but your first job out of college offers a salary of about $40,000. It would take a year and a half to match the amount you made versus the amount of money you owe, but obviously you have to factor in taxes, bills, expenses, etc that will withdraw from the $40,00 salary. Eventually, a doctorate’s degree will become the new master’s degree because a master’s degree is now turning into the common pursuit of every college student. So, what are some ways students make themselves standout without relying too much on a college degree?
Student involvement! Working with organizations, whether its on your college campus or organizations within your community, networking creates an abundance of opportunities. There are certainly enough opportunities distributed to individuals who don’t have college degrees and these individuals are avid entrepreneurs or highly collaborative individuals who are seeking ways to service society with their gifts. Relying on a college degree is similar to placing all your eggs in one basket. If that basket happens to drop then everything is ruined and its always a wise decision to plant seeds in a few fields to create a greater possibility to create a climate of opportunity for doors to open and networks to grow.
Please, feel free to continue the dialogue of this conversation so we all can discuss and share ways to improve on this phenomenon and contribute to one another’s ideas. How can we fix this problem?