Tuesday, March 1, 2011

US post-college debt, jobs and value

More and more American students are facing enormous tuition debt and low job prospects after graduating from college. Some find the solution of finding work abroad, but millions are settling for less. Is the US raising a generation of janitors with PhDs?

College and business interesting numbers.

64 percent of the owners of respondent firms had at least some college education at the time they started or acquired ownership in their business; 23 percent had a bachelor's degree; and 17 percent had a graduate degree. A bachelor's degree was the highest college degree completed by over 20 percent of all owners of both employer firms and non-employer firms. Just under 1-in-4 of all owners of employer firms had a high school education or less, compared to 28 percent of the owners of non-employer firms.

The numbers would contrast the value of money expended compared to the propaganda fostered on the American public that only college guarantees success.

31 percent of the owners of respondent firms were over the age of 55, with 20 percent of these owners between the ages of 55 to 64, and 11 percent are 65 and over.

Twenty-nine percent of all owners of respondent firms were between 45 and 54 years old; 24 percent were between 35 and 44 years old; 12 percent were between 25 and 34 years old; and only 2 percent were under 25 years old.

Differences in age distribution also varied among owners of employer respondent firms with 32 percent of the owners between the ages of 45 to 54; 25 percent between the ages of 35 to 44; and 32 percent over the age of 55. Less than 1 percent of employer respondent business owners were under 25 years old.

Reviewing the best undergrad college degrees by salary reveals an interesting list of the needs for business and of course possible jobs and income. The vast majority involve skills and knowledge specific to the production of goods or the workings of society. On the other end college majors that tend to have to the least return on money expended are revealing.

Funny thing about the human condition is reflected in the bottom 10% of return on educational investment the two highest earners from the bottom 10% are Fine Arts and Drama even in the worst of times thousands of years ago artists, musicians, and actors fill a need in humans for entertainment and decoration.

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