Do you really earn more money because you went to college?

[JennaK]

I'm still paying back my 2 year college course which was useless (business).

[1715122452]

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[1715122452]

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[1715122452]

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[FlyForFun]

Wasted more then $150,000 on college just for a paper..

[cryptasm]

Nope, most of my mates who didn't go to college or uni are on a higher salary than me. They're either tradesmen or running their own business with the bonus of not being saddled with a huge student debt. Personally wouldn't bother with college unless you want to work in a specialised job like a doctor, vet etc.

[Crypto_G]

Each year spent learning in an institution, is one less year you can make buck.

[boumalo]

Each year spent learning in an institution, is one less year you can make buck.

And it will cost you as much as 60k$ + interests in the US

[forever21]

no that is not true
sure that some other company is only looking at your previous school because of its reputation and sometimes not in your skill
i believe that you dont need to have a diploma in able to earn a lot of money you only need a good strategy confidence and a good comunication to earn a better salary like here in my country most of the company here is looking for an individual with a good moral character and came from a very good school they think that when you have a master degree you can do a lot better
but in my opinion experience is still the best rather than the degree

[Essex343]

Each year spent learning in an institution, is one less year you can make buck.

This is true. But the question is -- how much will you be earning? How will you be earning? And might a recent graduate outpace that earning given 5-10 years?

If you are working retail or flipping burgers, that's not gonna work out.

[Wideken]

Depends on the person for some answer is yes for some answer is no, if they think they can't do anything better than working in a qualified job they wont earn more.

[ProfMac]

There is actual data on this question.  A group of college graduates make more money than a matched group who don't go to college.

[Candystripes]

There is actual data on this question.  A group of college graduates make more money than a matched group who don't go to college.

It's actually stupid how much more they pay graduates than non-graduates, even if the non-graduate does the job much better. Just one of the things that makes the world stupid today.

[moonex]

If you work a job as graduated and not graduated of course you will get payed less and for most of the jobs you need diploma but people without graduation start their owns business and they earn even more than graduated people.

[bluefirecorp]

If you work a job as graduated and not graduated of course you will get payed less and for most of the jobs you need diploma but people without graduation start their owns business and they earn even more than graduated people.

For everyone one successful business, there are a hundred that failed. So, one non-graduate did better than all the other graduates. But the other graduates did better than the non-graduate.

Not to mention, graduates can start their own businesses, so I guess my theory is flawed in the same way yours is.

There is actual data on this question.  A group of college graduates make more money than a matched group who don't go to college.

It's actually stupid how much more they pay graduates than non-graduates, even if the non-graduate does the job much better. Just one of the things that makes the world stupid today.

Yes, because having a piece of paper that says you've obtained knowledge is rather stupid. Actually, you do know it takes two people to create a salary negotiation, right? If you're worth an amount of money, fucking get that amount of money. College graduates just have an easier time saying they're worth money because a fancy piece of paper. If you're really a special snowflake, then prove that you are.

[DrG]

Back of the napkin math -
Start working 2000 hrs/yr @ 16 years old taking home $30k (assuming no taxes since with credit/deductions you can go +/-). By age 36 you make 20x$30k = $600k (skipping interest).

If you do a cardiology fellowship after medschool/residency you will have worked for 6 years making $35k/yr (salaried resident so no minimum wage bonus for you) which let's say for the sake of argument would cover your student loans (not if you went private but we'll average it out with state schools). You'll make $200k/yr take home those 3 years leading up to age 36.

So by 36 the min wage adult and the cardiologist are even. Except the min wager could have a house almost paid off (possibly might even be working on house #2). Oh and the practitioner has also studied/worked about 2.5x as many hours as the min wager.

If the med school bound idiot (yes, now he is an idiot if he goes to medical school) changes to work 2 full time min wage jobs making $15/hr (assuming work is available) from age 16 he'll almost always be ahead by age 40, and if he invested wisely will have an insurmountable lead on any physician.

I bring up $15/hr since Seattle recently decided to bump up the minimum wage to that.  San Diego is considering $13/hr.

[leex1528]

Back of the napkin math -
Start working 2000 hrs/yr @ 16 years old taking home $30k (assuming no taxes since with credit/deductions you can go +/-). By age 36 you make 20x$30k = $600k (skipping interest).

If you do a cardiology fellowship after medschool/residency you will have worked for 6 years making $35k/yr (salaried resident so no minimum wage bonus for you) which let's say for the sake of argument would cover your student loans (not if you went private but we'll average it out with state schools). You'll make $200k/yr take home those 3 years leading up to age 36.

So by 36 the min wage adult and the cardiologist are even. Except the min wager could have a house almost paid off (possibly might even be working on house #2). Oh and the practitioner has also studied/worked about 2.5x as many hours as the min wager.

If the med school bound idiot (yes, now he is an idiot if he goes to medical school) changes to work 2 full time min wage jobs making $15/hr (assuming work is available) from age 16 he'll almost always be ahead by age 40, and if he invested wisely will have an insurmountable lead on any physician.

I bring up $15/hr since Seattle recently decided to bump up the minimum wage to that.  San Diego is considering $13/hr.

That would be great and all, but the min wage is not even close to $15/hr for most of the states. 

A more accurate min wage would be $7.25(Which is what most 16 year olds will get)  So that means they will bring  home roughly 10k a year after taxes.  So with nothing after 20 years the min wage will have 200k which is a lot more accurate.

Granted, that isn't usually the case people don't sit at min wage for 20 years, they move up through the ladder and get a better job.

Students are pretty much getting screwed along with the minimum wage being way to low in order for people to pay their debts. 

[DjPxH]

Yes! Most of the times you do. Of course there are exceptions to this, especially when you work in a business run by relatives. But a college degree is the best and most fail-safe way of getting paid better, even for the same jobs.

[xoomo]

In order to be noticed paper is crucial. Then it depends on you, how you will manage. But the paper only without knowledge is useless, your professionalism will be revealed sooner or later.

[forever21]

Yes! Most of the times you do. Of course there are exceptions to this, especially when you work in a business run by relatives. But a college degree is the best and most fail-safe way of getting paid better, even for the same jobs.

even the the undergrad can earn much better than the graduate one
its a matter of experience and strategy if you have a lot of ability in yourself then you can be rich

[boumalo]

Back of the napkin math -
Start working 2000 hrs/yr @ 16 years old taking home $30k (assuming no taxes since with credit/deductions you can go +/-). By age 36 you make 20x$30k = $600k (skipping interest).

If you do a cardiology fellowship after medschool/residency you will have worked for 6 years making $35k/yr (salaried resident so no minimum wage bonus for you) which let's say for the sake of argument would cover your student loans (not if you went private but we'll average it out with state schools). You'll make $200k/yr take home those 3 years leading up to age 36.

So by 36 the min wage adult and the cardiologist are even. Except the min wager could have a house almost paid off (possibly might even be working on house #2). Oh and the practitioner has also studied/worked about 2.5x as many hours as the min wager.

If the med school bound idiot (yes, now he is an idiot if he goes to medical school) changes to work 2 full time min wage jobs making $15/hr (assuming work is available) from age 16 he'll almost always be ahead by age 40, and if he invested wisely will have an insurmountable lead on any physician.

I bring up $15/hr since Seattle recently decided to bump up the minimum wage to that.  San Diego is considering $13/hr.

That would be great and all, but the min wage is not even close to $15/hr for most of the states. 

A more accurate min wage would be $7.25(Which is what most 16 year olds will get)  So that means they will bring  home roughly 10k a year after taxes.  So with nothing after 20 years the min wage will have 200k which is a lot more accurate.

Granted, that isn't usually the case people don't sit at min wage for 20 years, they move up through the ladder and get a better job.

Students are pretty much getting screwed along with the minimum wage being way to low in order for people to pay their debts. 

You were not suppose to work for minimum wage for more than a few months with a college degree

Minimum wage is horrible for persons who are not worth the minimum wage because they cannot get their first work experience to move up on the ladder : it is horrible for the least skilled and those who need a job the most

US don't create good jobs atm, just partial jobs in the service sector, often at the minimum wage and college graduates and 40years old with kids take those jobs that should go to unemployed unskilled workers

[TwinWinNerD]

Going to collage/university isn't only about earning more. It is about broadening the horizon and evolving as a person.

You can compare it to playing an instrument. Sure you won't become a concert-pianist by playing the piano for a few years, but you will get more openminded about music, get educated about that subject.

In the end people need to decide for their own, if spending that much time of your life and the much money worth the positive results or not, but if you can afford to do it (that includes NOT getting into huge debt) then go for it and evolve as a person.

[Lauda]

700 euro per year for 5 years = spending more than earning? Hm.
This might be in the US, but only insane people go live there.  

700euros per year for college means people that don't go to college pay for people that do go for college, poor innovation, poor quality, lots of waste, bad administration and a useless degree at the end because too many people will get a degree

You lost the money you could have earned in 5years, the skills and connections you would have got as well

You just said that any colledge in Austria is bad because it's 700 euros per semester/year (not exactly sure right now anymore)
You have no idea what you're talking about.  

700 euros per year is very cheap for a college education. It costs about 5 times that where I live.

Colleges in the US cost a lot I know. You are supposed to educate yourself, but then they put these crazy costs (makes sense doesn't it).