Content of the material
- 5 Reasons Why Your Bachelors Degree Is Worthless
- 1.) Academic Inflation
- 2.) The Illusion of Safety
- 3.) Drowning in Debt
- 4.) The Source of Creativity
- 5.) Your Professors Aren’t Concerned About Your Education
- How to Maximize The Future Of Work
- 1. Think Output
- 2. Get Smart
- 3. Communicate, communicate, communicate
- 4. Create Company Bulletin Boards
- 5. Have Regular Feedback
- Highest Earning College Majors
- Do the Math Before Investing in College
5 Reasons Why Your Bachelors Degree Is Worthless
1.) Academic Inflation
In 1970, only 26% of middle-class workers had education beyond high school. Today, almost 60% of all jobs in the US require a higher education. Your new bachelor’s degree is becoming increasingly worthless as more and more people graduate from college, as jobs that used to need only a bachelor’s degree now prefer master’s degrees.
If the excess of bachelor’s degrees wasn’t enough, now we have an increase in master’s degree students who have decided to stay in school to wait out the recession: not only have you gone to school to earn a commodity, it’s now a sub-standard commodity.Advertising
It’s only a matter of time until you’ll need a bachelor’s degree and a certification to mow lawns—there go all the summer jobs for kids.
2.) The Illusion of Safety
What used to be a guarantee of safety and stability has recently turned into an exercise in musical chairs. There aren’t enough jobs for everyone, and you find yourself scrambling to not be the odd man out.
According to a CNN article, less than half of college graduates under the age of 25 are working at a job that requires a college degree. The same article mentions a 2012 study from Georgetown University’s Center on Education and the Workforce titled “Hard Times: Not All College Majors are Created Equal,” showing that bachelor degree grads have an unemployment rate of 8.9%.
3.) Drowning in Debt
On average, the cost for one year of attendance at four-year public college or university costs 40% of a family’s income, and on average, approximately 40% of students leave school with a debt of $22,000. If you’re from a family that earns between $40k and $50k, that number jumps to $28,000.Advertising
Middle-class families will have more debt from student loans than their upper-class peers, who can pay for their education outright, and their lower class peers, who often qualify for grants and financial assistance. You might even end up being the one paying $1,000 a month for 20 years just for four years of school.
4.) The Source of Creativity
People seem to think that the simple act of attending college makes you more innovative and creative. That’s simply not true.
Creativity and innovation don’t come from what people teach you: new ideas come from your personal experiences, and your interaction with your environment.
5.) Your Professors Aren’t Concerned About Your Education
I know people who graduated with a degree in engineering who couldn’t do a derivative. I’m not joking.Advertising
Many professors are far more interested in tenure and their research than they are about making sure you get the best education they can possible give you. They grade you on curves so you can’t possibly fail, and the curriculum never changes. In fact, one study showed that 45% of students are no better at critical thinking, complex reasoning, and writing after their sophomore year than they were when they began.
How to Maximize The Future Of Work
1. Think Output
Focusing on a results-orientated system is the initial step to take when going remote. At the end of the day, the output that we produce is the only tangible result we can present that brings the business forward.
Too often, we see this in today’s working environment:
- Person A takes 5 hours to complete a project and Person B takes 30 minutes to complete the same project.
- Person A comes in early and stays late at the office, while Person B can leave the office earlier to recharge or plan new projects that will bring value for the company. Yet Person A is rewarded for their “hard work” and dedication, when Person B has accomplished the same outputs, if not more from being productive.
Systems such as ROWE (Results Only Work Environment) are being introduced to promote output work cultures, where employees are evaluated on performance, not presence. It has been implemented in companies such as Best Buy and Gap, where they’ve seen a 20% improvement in productivity, a 90% decrease in turnover rates, and increased customer satisfaction.
2. Get Smart
Now that we’re focused on results, we need to set the right goals and metrics for ourselves.
Creating goals that are specific, measurable, attainable, realistic, and timely are the 5 most important factors to consider. Investing the time to plan and write down your smart goals will do wonders for your output.
If you’re a coder, you could set a goal to release a certain feature in the next week. If you’re in sales, it could be calling 50 people a day with a target to close 10 per week.
I encourage you to set your own goals, as you’re the person that knows your working style best.Advertising
There’s no better feeling than waking up each morning and having a clear target for exactly what you’re going to accomplish that day, week, or month.
3. Communicate, communicate, communicate
I can’t stress this enough.
The caveat to working remotely is that we miss out on 70% of nonverbal communication, such as facial expressions, voice tones, and eye contact. Working from other sides of the world, communicating the smallest things are a must. This is why we use everything from Slack, Skype, and Whatsapp to keep in regular contact in an informal manner. It allows me to be myself and have more natural flowing conversations with our team.
The beauty of working online is that it has forced me to articulate everything I communicate — 750-word emails have to be shortened to 300-word emails, while still getting the same message across. This has helped me keep my writing short and concise, which has transferred over to my speaking skills as well.
4. Create Company Bulletin Boards
All this means is have a project management system or a “bulletin board” that allows each team member to see what everyone else is working on.
Sometimes, we get so caught up in our own tasks that we forget what’s happening with the rest of our team members.
We use Trello, but there are several others that are as effective, such as Basecamp, Asana, and Pivotal Tracker. This helps me understand what the high-level priorities are for the company and allows me to assign tasks to any team member without having to bug them about it.Advertising
5. Have Regular Feedback
It’s difficult to know if your work is producing the impact that your team members expect when working. You can never have too much feedback, because we can always improve our work, become better team members, and have greater impact.
Design a structure for individual regular feedback, whether it’s bi-weekly or monthly. Creating a culture for continuous improvement will allow members to feel that they’re personally improving, which leads to increased work engagement and greater loyalty for the business.
Avoid using email and take feedback to video chats as much as you can. You can’t risk leaving out 70% of your nonverbal communication for something as personal as individual feedback.
Highest Earning College Majors
On the contrary, below are some of the best college majors in terms of future salary outlook. We plan on writing an in-depth article soon on this topic.
- Pharmaceutical Sciences and Administration
- Petroleum Engineering
- Chemical Engineering
- Mathematics and Computer Sciences
- Aerospace Engineering
- Electrical Engineering
For more popular Wealthy Diligence guides, see the links below.
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Do the Math Before Investing in College
As you can see, the claims that college is worthless are mostly baseless, even if your only definition of value is economic. People who graduate with a useful college degree from a good school still have a statistical advantage in the workforce.
That doesn’t mean that everyone needs to go to college to be successful, though. It also doesn’t mean that everyone who goes to college will be successful. On average, most people are better off with a college degree, but your outcome depends significantly on your unique circumstances.
Before you commit to the steep investment of a college degree, do the math on your return. Figure out the total cost of your intended degree, including missed wages and the interest on any loans. Compare that to the increase in earnings you expect to receive upon graduation. Use data from people in your desired career path to get an approximation. Consider other possibilities, like trade schools or associate degree programs, which can lead to steady employment without excessive cost or debt.
If you need help with the decision to go to college, consider working with a professional guidance counselor. They can help you figure out how much your degree would cost and how much it might benefit you on the back end.
What do you think? Is going to college worth the cost? Let us know in the comments!