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

[boumalo]

In most cases yes since diploma is needed in applying for a better paying job. But it is not always the case since even you are not a college graduate, you can earn more money by being hardworking, skilled and wise.

There are over supply of college educated kids, MBA and lawyers.

Law of supply and demand will mean wages have to go down for the "elite" due to competition.

The data during recessions shows that the college educated people have low unemployment, and high school graduates have higher unemployment.

Presumably the college educated move to lower jobs, and the less educated people become unemployed.  So keep in mind that competition is a complex phenomenon, and the degree is still worthwhile.

This is a very good point. I graduated in 2009 and a few big law firms in my area went belly up in 2008-2010. For a couple years, I was competing with out-of-work lawyers for shitty legal support work. Go figure.

Sure, going the uneducated route is fine if you have brains, ability and start-up capital. But you may be edged out of the market when you need a job the most.

Passing on a college degree is a gamble.  You can certainly do better than those with college education, but the odds are against you.  Sure, there are some without degrees that have made it big, but they are few and far between.  Even if you have great ideas for businesses, inventions, etc., there are a lot of things that you can learn in college that will help you succeed at your endeavors.

such as?

Things like communications skills, writing skills, a whole host of technical skills, networking with people, and even personal growth can be very beneficial.  Despite getting solid engineering degrees, I probably learned more about myself and other people than the subjects I studied.  I also formed some of the best relationships of my life.  I don't think that would have been possible without being in a setting where I was surrounded solely by other people my own age.

This is a very good point. However you do not need to get a college degree (finish your degree) to have these skills. You really only need to attend college for "several" semesters.

And you could imagine other settings where you can get those skills as well

College tuitions have been rising exponentially mostly because of the State involvement in the education market and the price to pay is becoming tremendous : if you don't acquire enough skills or don't have other qualities a sole college degree will be close to worthless

When the State intervenes in a market the prices go up : heath, education ect. When the private sector is let free the prices go down

[AnswerQuestion]

I am unemployed and living in a homeless shelter even though I am 80k+ in debt from getting an art degree.

[RedhatCAT]

I am employed as an attorney making 120k per year, so yes i think getting my JD was a good investment.

[iTRADEbtc]

I am unemployed and living in a homeless shelter even though I am 80k+ in debt from getting an art degree.

Damm. I feel you man. I wish I could somehow help you out.

[leex1528]

I am unemployed and living in a homeless shelter even though I am 80k+ in debt from getting an art degree.

Not to be mean or anything, I mean that sucks but what on earth are you doing getting an art degree and why did it cost you 80k?  Sounds like you went to a school that saw you coming from a mile away..

[cookiemonsterwhat]

I am unemployed and living in a homeless shelter even though I am 80k+ in debt from getting an art degree.

Not to be mean or anything, I mean that sucks but what on earth are you doing getting an art degree and why did it cost you 80k?  Sounds like you went to a school that saw you coming from a mile away..

Some people think they would land a job at dream works, which is pretty huge.

Then again I can be wrong, and its not anything related can be a sub category of art. I know most people though are still struggling to pay off their debts by living w. their parents.

As for me, I noticed my per grade costed = $70. And I noticed even if I did transfer to a great college, that its going to be hell so I bailed.

[CoinsCoinsEverywhere]

Things like communications skills, writing skills, a whole host of technical skills, networking with people, and even personal growth can be very beneficial.  Despite getting solid engineering degrees, I probably learned more about myself and other people than the subjects I studied.  I also formed some of the best relationships of my life.  I don't think that would have been possible without being in a setting where I was surrounded solely by other people my own age.

This is a very good point. However you do not need to get a college degree (finish your degree) to have these skills. You really only need to attend college for "several" semesters.

And you could imagine other settings where you can get those skills as well

What other settings?  I'm not saying you're wrong, but at least for me, I don't think it would have been possible elsewhere.

College tuitions have been rising exponentially mostly because of the State involvement in the education market and the price to pay is becoming tremendous : if you don't acquire enough skills or don't have other qualities a sole college degree will be close to worthless

When the State intervenes in a market the prices go up : heath, education ect. When the private sector is let free the prices go down

By State intervention, I assume you mean offering all kinds of student loans.  State schools can be a great way to save money, but yes, the availability of lots of money for loans seems to driving up tuition as it enables more demand than there would otherwise be.

[fanboy4]

People that go to college are in average brighter, harder working, more ambitious and for more affluante families and they are meant to make more money (as a group) than people that don't go to college

If you factor in the cost of going to college will you really make more money because of the diploma you will get?

Support : https://www.youtube.com/watch?v=nbUFBk3477o (few minutes video debating the subject)

Going a college is a reference, but i does not means you cna do everything.
Being a good human speaks more in real life.

[CoinsCoinsEverywhere]

People that go to college are in average brighter, harder working, more ambitious and for more affluante families and they are meant to make more money (as a group) than people that don't go to college

If you factor in the cost of going to college will you really make more money because of the diploma you will get?

Support : https://www.youtube.com/watch?v=nbUFBk3477o (few minutes video debating the subject)

Going a college is a reference, but i does not means you cna do everything.
Being a good human speaks more in real life.

One of the most important academic lessons I learned in college was figuring out how to figure out how to do things.  College didn't teach me how to do everything, but it taught me how to go about learning how to do something I don't already know how to do.  That lesson is priceless.

[movelikejagger]

We live in that time when people should end college cause of a piece of paper...

[boumalo]

People that go to college are in average brighter, harder working, more ambitious and for more affluante families and they are meant to make more money (as a group) than people that don't go to college

If you factor in the cost of going to college will you really make more money because of the diploma you will get?

Support : https://www.youtube.com/watch?v=nbUFBk3477o (few minutes video debating the subject)

Going a college is a reference, but i does not means you cna do everything.
Being a good human speaks more in real life.

One of the most important academic lessons I learned in college was figuring out how to figure out how to do things.  College didn't teach me how to do everything, but it taught me how to go about learning how to do something I don't already know how to do.  That lesson is priceless.

But you could have learned it in high school, at home and it is not worth tens of thousands per year; even if you didn't pay tens of thousands per year it costed tens of thousands per year

[CoinsCoinsEverywhere]

People that go to college are in average brighter, harder working, more ambitious and for more affluante families and they are meant to make more money (as a group) than people that don't go to college

If you factor in the cost of going to college will you really make more money because of the diploma you will get?

Support : https://www.youtube.com/watch?v=nbUFBk3477o (few minutes video debating the subject)

Going a college is a reference, but i does not means you cna do everything.
Being a good human speaks more in real life.

One of the most important academic lessons I learned in college was figuring out how to figure out how to do things.  College didn't teach me how to do everything, but it taught me how to go about learning how to do something I don't already know how to do.  That lesson is priceless.

But you could have learned it in high school, at home and it is not worth tens of thousands per year; even if you didn't pay tens of thousands per year it costed tens of thousands per year

No, I couldn't have learned that in high school.  High school is too low level--they're mostly concerned with teaching particular facts and concepts.  The atmosphere is too constrained by particular curricula.  You have to be given time and space to learn to think independently and figure out how to solve the problems you run into along the way.

[boumalo]

People that go to college are in average brighter, harder working, more ambitious and for more affluante families and they are meant to make more money (as a group) than people that don't go to college

If you factor in the cost of going to college will you really make more money because of the diploma you will get?

Support : https://www.youtube.com/watch?v=nbUFBk3477o (few minutes video debating the subject)

Going a college is a reference, but i does not means you cna do everything.
Being a good human speaks more in real life.

One of the most important academic lessons I learned in college was figuring out how to figure out how to do things.  College didn't teach me how to do everything, but it taught me how to go about learning how to do something I don't already know how to do.  That lesson is priceless.

But you could have learned it in high school, at home and it is not worth tens of thousands per year; even if you didn't pay tens of thousands per year it costed tens of thousands per year

No, I couldn't have learned that in high school.  High school is too low level--they're mostly concerned with teaching particular facts and concepts.  The atmosphere is too constrained by particular curricula.  You have to be given time and space to learn to think independently and figure out how to solve the problems you run into along the way.

Maybe you could have been given time and space in high school if the teaching was better and made differently; or you could have learned what you learned for a cheapest cost in college

[chaosknight]

I think that going to college is better these days cause almost every job requirement is a degree. Unless you want to take high risk and use the money for business...

[leex1528]

It depends on are you talking long run or short term, freshly out of college, freshly out of high school?

I would say this:

A person who goes to work for 4 years after high school and gets experience

Versus

A person who goes to College and pays for it and then gets a job:

A person who is working not only will have a lot more money, but they will probably be earning more than the college person at that time.

I would say 5-10 years down the road....the college student will start making more money....and after 15-20 years...the college kid will have more money than the high school grad...

[boumalo]

It depends on are you talking long run or short term, freshly out of college, freshly out of high school?

I would say this:

A person who goes to work for 4 years after high school and gets experience

Versus

A person who goes to College and pays for it and then gets a job:

A person who is working not only will have a lot more money, but they will probably be earning more than the college person at that time.

I would say 5-10 years down the road....the college student will start making more money....and after 15-20 years...the college kid will have more money than the high school grad...

Yes agreed 5-10 years to make the same money and at least 20 to have make more debt/lost income taken into account but we compared orange to apple because college students are smarter, more connected, more eager to suceed and from more affluent families as a group

[Tritek]

Not always you earn more with degree.

[koshgel]

It all depends on what type of degree you get in school and what you decide to do with it.

There's a big difference between a Philosophy degree or a Biology degree and if you decide to pursue a graduate program.

$$$ = the amount of motivation you put into succeeding

[ltc8529]

It all depends on what type of degree you get in school and what you decide to do with it.

There's a big difference between a Philosophy degree or a Biology degree and if you decide to pursue a graduate program.

$$$ = the amount of motivation you put into succeeding

+1 dont even waste the $$$ going to college unless youre motivated to do the best you can.

[CoinsCoinsEverywhere]

It depends on are you talking long run or short term, freshly out of college, freshly out of high school?

I would say this:

A person who goes to work for 4 years after high school and gets experience

Versus

A person who goes to College and pays for it and then gets a job:

A person who is working not only will have a lot more money, but they will probably be earning more than the college person at that time.

I would say 5-10 years down the road....the college student will start making more money....and after 15-20 years...the college kid will have more money than the high school grad...

What jobs are you thinking of?  When looking at median annual earnings, the high school grad will not catch up to the college grad, even after 4 years.  This is from an article earlier this year:

"Among millennials ages 25 to 32, median annual earnings for full-time working college-degree holders are $17,500 greater than for those with high school diplomas only."

If you only have a high school diploma, your salary is not going to increase by $17.5k in 4 years unless you're really really lucky.

http://www.usnews.com/news/articles/2014/02/11/study-income-gap-between-young-college-and-high-school-grads-widens

Edit: This is for the US, of course.  It may be different in other countries.