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Author Topic: Do you really earn more money because you went to college?  (Read 12994 times)
Ayers
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August 16, 2014, 06:25:17 PM
 #201

maybe if you are recommended, but usually yes

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leex1528
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August 18, 2014, 02:05:24 PM
 #202


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.

I guess I am just speaking from personal experience and what my friends did.  And your point is sort of backing mine up.

College graduates (21-22) work 3 years and then are earning roughly $17,500 more than those with diplomas.  While the high school grad will have worked for 8 years at the age of 25, and will have a lot bigger bankroll then the college grad...
boumalo (OP)
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August 18, 2014, 07:50:09 PM
 #203

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.

You compare oranges and apple and you don't take into account college cost and lost earnings

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August 20, 2014, 08:43:57 PM
 #204

I'm am doing a little web reading as homework so that I know what salary is reasonable.

For chemists on March 1, 2013:

Code:
           Industry    Academia
Bachelors  $73,000     $47,600
Masters    $94,100     $57,500
Doctoral  $125,000     $76,500

If you estimate a total of 10 years from Bachelors to Doctorate, that is lost income of $730,000.  At an increase of $52,000 / year, it will take about 14 years of doctoral level employment to recover.    This is typically by age (22 + 10 + 14) or 46.  By age 65, this would be a $988,000 increase in earnings, doctorate above bachelors.

I don't know how to compare high school graduates with Bachelors chemists in a way that a majority would accept.


I try to be respectful and informed.
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August 20, 2014, 08:46:34 PM
 #205

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.


I agree with this one, nobody should go to college with no motivation. It's a waste of time.

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August 20, 2014, 09:24:37 PM
 #206

i got a philosophy degree, now i'm cruising the Mediterranean, breaking hearts, making millions
boumalo (OP)
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August 29, 2014, 07:17:07 PM
 #207

i got a philosophy degree, now i'm cruising the Mediterranean, breaking hearts, making millions

Did you make any money directly because of your degree Tongue?

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August 29, 2014, 07:29:23 PM
 #208

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)
You go to college doesn't directly means you are gonna make more money.You make money while you take risks and you get a hand into something real.Yes, you of course get more knowledge on how to implement things onto the sectors you wanna make money.If there wasn't no thing like knowledge and other college graduates around you then imagine you would't have also had a knowledge you had now.It's the influence of educated fellows around too....
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August 30, 2014, 07:18:56 AM
 #209

No, I could have invest those into bitcoin when it is few dollars.


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August 30, 2014, 09:51:04 AM
 #210

My B.S. degree is just that BS.  I do not know even know where it is right now, but my professional degree is what brings home the bacon.  I hated school, but I was good at it so I figured I should make use of my talents.  Yes, I still have some student loans, but my first job paid half of it off and the interest rate is below 3%.  Where else are you going to find money that cheap?

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August 30, 2014, 10:06:10 AM
 #211

Before World War II, only a small proportion of Americans went to college. Wink

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August 30, 2014, 07:08:37 PM
 #212

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)
Either or not you implement your knowledge or go into the field you graduated from,A college student is course more brighter and more intelligent than a non college attendee.Practicality comes from knowledge and knowledge from studying.
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August 31, 2014, 05:42:07 AM
 #213

To answer OP.. No.

Unless its a specific job like lawyer, doctor etc etc..
Not going to go into the specifics on my finances but I'm a network engineer (12 years experience now) and no formal education other than High school and I do very well.. even 5 years ago (when I had 7 yrs exp) I was doing very well.

You just need to work hard. To get where I am today I had to miss alot of birthdays and special occasions because I was on call/had to work.. but it has paid off now Smiley

A lot of my co-workers have degree's and what not, and we all ended up at the same place..

Saying that though... IT is different to a lot of other area's.. Its much easier to teach yourself stuff in IT then it is in other industries.

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August 31, 2014, 06:34:53 AM
 #214

To answer OP.. No.

Unless its a specific job like lawyer, doctor etc etc..
Not going to go into the specifics on my finances but I'm a network engineer (12 years experience now) and no formal education other than High school and I do very well.. even 5 years ago (when I had 7 yrs exp) I was doing very well.

You just need to work hard. To get where I am today I had to miss alot of birthdays and special occasions because I was on call/had to work.. but it has paid off now Smiley

A lot of my co-workers have degree's and what not, and we all ended up at the same place..

Saying that though... IT is different to a lot of other area's.. Its much easier to teach yourself stuff in IT then it is in other industries.


Try it again today. Literally, try submitting you resume without any experience or certifications or education. Go on, try it.

Not going to fucking happen. You won't land that same job you landed 12 years ago. Fuck, 12 years ago you could land a decent IT gig by just knowing how to build a fucking computer. Times have changed. To even remotely get close to IT, you're going to need to get certified / a degree to even get into entry fucking level. Yes, now even to land a helldesk job you need certificates.

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August 31, 2014, 08:03:19 AM
 #215

Nah, its so hard to find a job with degree at this economy, I end up doing some job which is not related to my degree.

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September 04, 2014, 08:27:51 PM
 #216

Personally I think it's about how you market yourself with that particular degree. University is basically a test. You don't necessarily need to be extremely smart to pass college, just hard working and have good time management. Graduating with a degree just basically means you afforded yourself the appropriate amount of time to study in order to pass your classes. Now when you step out into the real world your employer wants to see how well that translates.

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September 04, 2014, 08:41:18 PM
 #217

Well, education does not guarantee success in your life, like money and glory...
But it increases the chance of success...
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September 04, 2014, 09:16:18 PM
 #218

It is a tricky question. Even if you go to college, you need to actually use the education you obtain to your advantage. The fact that you went to college by itself does not guarantee anything.
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September 05, 2014, 01:17:42 AM
 #219

A lot of my friends went to college and couldn't find a job, so there is no definite answer and both have their own risk. I say going college is less risky as compare to using the money for business or investment..
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September 06, 2014, 02:01:57 PM
 #220

A lot of my friends went to college and couldn't find a job, so there is no definite answer and both have their own risk. I say going college is less risky as compare to using the money for business or investment..

A college Master in the States can easily end up costing directly 100,000$-200,000$ if you calculate the tuition costs, lost income, interests on the debt for 10years

If you can get this money and invest it very diversified at 20years old you are good to go for a 50years old retirement

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