" … In other words, while the cost of a college education is soaring the income of college graduates is falling …"
http://www.mybudget360.com/low-wage-work-and-college-degree-starbucks-college-plan/
This should come as no surprise to… anyone, really.
Yea, but if you’re in the job hunt and all the other candidates have college degrees and you don’t have one, guess which name is the first dropped from consideration?
A good reason to limit undergrad costs, not a good reason to stop your education after high school.
http://www.bls.gov/emp/ep_chart_001.htm
Yes, and for many positions, you hit a ceiling that you need a grad degree to overcome. This is another reason to limit undergrad (& grad) school costs. Drowning in debt is unpleasant–with low wages it’s even tougher.
Indeed. It’s amazing how many positions require a graduate degree … which could be one of the reasons for this thread’s title.
Yes, earning power with a bachelor’s degree may be going down. But earning power with a high school diploma is going down by an even greater amount.
For jobs that do not have any specific skill requirements (the way one needs, for example, an engineering degree for an engineering job), it looks like the education credentials required for consideration have increased. Jobs that once hired high school dropouts may now require high school diplomas. Jobs that once hired high school graduates may now require bachelor’s degrees. Jobs that once hired bachelor’s degree holders may now require master’s degrees.
Even jobs with specific skill requirements may be raising their credential requirements. In nursing, it seems that some employers are now looking for RNs with bachelor’s degrees in nursing over those with associates degrees in nursing.