With respect to companies and training, one of the companies I started has three lines of business. One line of business offered a high-value training to companies. Over the last five years, that part of the business has declined. Companies have sought to replace in-person training with virtual modules. Clients have been shifting to virtual training across the board and there are arguments that it can be equally or more effective, though it doesn’t work well in our field. We’ve replaced the lost business with another that focuses on helping them to achieve better results. Training is a part of what we offer, but it is a smaller part of a much bigger package (with a correspondingly longer sales cycle) and the budget for this kind of program comes from the business and not the shrinking and reallocated learning and development budget.
What I also hear is that many companies want new hires to be able to hit the ground running. Bank training programs used to be staples for bringing liberal arts-y folk (non-quantitative) into the company. Now, these programs seem to have become largely extinct (Chase, Goldman, etc.). Companies want the new hires to be trained in some area that can be applied on Day 1.
At quite a number of our clients, both general training and new hire training budgets have declined. According to Peter Capelli, a labor economist at Wharton, in 1979, “the average young worker received 2.5 weeks of training per year. By 1995, training time fell to just 11 hours.” (See https://www.entrepreneur.com/article/314468.)
@Nhatrang wrote about people vilifying LACs. People can learn to think well at LACs and learn some technical skills (usually not engineering, but stats, a mild version of CS, etc.). No reason to vilify LACs, except to the extent that some are selling a data-free social justice warrior version of education.
My firm works cooperatively with the top management consulting firms and I think the conclusion that they are hiring humanities-oriented majors to be a bit of an overstatement. I have heard that new grads are screened first on their math SATs and that there is a cutoff of something like 750 (I don’t know this as a fact). Moreover, one of the partners at a top consulting firm described the new hires out of undergrad as “data slaves” for their first two years. Their job becomes collecting data, analyzing, massaging, and preparing presentations. They are also looking for candidates to also have effective people skills, as they have to get the data and the cooperation of employees at their clients, but a good humanities education without some quantitative talent probably wouldn’t cut it at this point.
Finally, someone talked about looking at the majors of current CEOs. I don’t think that’s relevant because when they were hired a) there wasn’t resume-screening software; and b) the businesses were much less data-driven. By analogy, I had dinner with a friend who is on several major corporate boards. He says he would never be invited to those boards now as the search committees are explicitly look for anything other than white guys. The screening that was done then is very different than that which is done now both for new employees and for board members.