In this economy, people are more focused on return on investment for education than ever. This week’s five for Friday rounds up 5 links on how to calculate the value of a college degree.
- Class of 2013 Faces Grim Job Prospects. CNN Money: “As of 2012, about 52% of employed college grads under age 25 were not working in jobs that require a college degree, said Andrew Sum, an economist at Northeastern University. That’s up from 47% in 2007 and 40% in 2000.”
- Does Blanket ‘Don’t Go to Graduate School!’ Advice Ignore Race and Reality? The Chronicle of Higher Education: “Let us not tell people who could stand to benefit the most from credentials—ones we have socially constructed, through racism, classism, and sexism, as more necessary for some people than others—that graduate school is a net negative because it is not. Instead, let us consider a calculation of social distance, cost, aspiration, prestige, and returns on investment. Rather than a blanket default condemnation that is rooted in our own social position, experiences, and privilege, let us give students a patchwork quilt of tools to determine the graduate-school math for themselves.”
- Is Your College Degree Worth It? Find Out. Forbes: “According to statistics released last week, college grads in 2011 (the most recent data available) made $42,822 annually, while those with just high school GEDs made just $23,528. That’s an 82% jump for four years of what many call the ‘best years’ of their life.”
- Grad School May Not Be the Best Way to Spend $100,000. Harvard Business Review Blog: “There are obvious cases where a graduate degree is mandatory; you’re not going to get very far as a doctor or lawyer if you haven’t done the requisite schooling. But what about everyone else? I often get inquiries from executives looking for advice about whether they should go back. Would an MBA, a JD, a doctorate in organizational psychology, or a journalism degree give them that extra edge? Often, the answer is no. There are a lot of things you could do with $100,000, and going to school because you aren’t sure what to do with yourself, or because of received wisdom that an extra degree is always helpful, could be a colossally misguided move.”
- 5 New College Degrees You Want in Your Next Hire. American Express Open Forum: “There are hundreds of undergraduate degree programs. The right candidate will prove value to your business, no matter what degree she holds. But if you’re not sure who to hire and you want an employee with current knowledge of today’s business and marketing complexities, candidates with these degrees under their belts will support you in steering your company into the future.”