What the fuck is happening with the College Degree market?

MPmaster
MPmaster

twitter.com/nytimes/status/826118294541365248

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twitter.com/nytimes/status/826118294541365248
nakedcapitalism.com/2017/02/the-end-of-employees.html

Nojokur
Nojokur

There are so many job applicants that companies can be so selective that they can require a college degree to be a factory worker.

askme
askme

Most Starbucks employees are college grads.

People wonder why college tuition is so expensive, consider you need a degree to make minimujm wage in the modern labor market. That and the gov't offers loans and grants. They can literally (literally) charge whatever they want for a college degree.

iluvmen
iluvmen

A Masters today is what a Bachelors was like 15 years ago.

Soon Ph.D.s will be everywhere too, as grad schools are pumping them out quicker.

This is the future everyone wanted, where people had more time for education, the problem is it is happening too quickly and too soon.

Poker_Star
Poker_Star

Location is by far the most important factor. In a small nobody town in colorado, employers are plentiful, and you could work 2 part time jobs all in highschool. But anywhere where there is minorities, you're screwed.

DeathDog
DeathDog

here's what happened:

companies no longer train employees, because employees do not stay at companies long enough for training to be a good investment, because companies ruined employee loyalty by embracing performance systems and axing pension programs. companies still need competent employees, though, so they outsource training. they outsource it to other companies (5 years experience for an entry-level position), to colleges (you need a degree for this factory job), or to the employee themselves (make sure you spend your free time training yourself or you won't stay competitive in the labor market)

let's break it down:

if an employee stays at your company for 40 years, you can afford to spend quite a bit of money training them in the first few years (and you can keep training them as they progress in their career). maybe the first 10 years they're with the company they cost more than they produce, but the next 30 years -- because of the training you gave them -- they're so productive that they pay for their own training and produce profit for the company.

if an employee stays at your company for only 4 years, though, you need them to be profitable from day one. you simply cannot afford to spend money training them up if they're not going to be around for the long-term.

ZeroReborn
ZeroReborn

companies have a general idea of how long the average employee stays with them. as they've seen this number go down over time, they've had to take measures to ensure that they remain profitable. cutting salaries and benefits harms morale and makes it difficult to attract talent, doing away with real pay increases has a similar effect (although we are basically at this point), whereas cutting training simply reduces productivity -- this does have an effect on profitability, but it's notoriously difficult to measure and most companies don't even try. the consequences of cutting training may not be visible for decades, either, which makes it even easier for companies to cut it and claim that it had no effect on their profitability.

and why would the average employee tenure be dropping over time? one reason is that it's become fashionable to summarily dismiss employees who have 6-12 months of poor performance. why bother whethering the storm with someone when you can just fire time? never mind all that institutional knowledge and skill you just threw away. another reason is employee-managed retirement funds. i can quit my job tomorrow and it won't hurt my retirement, and if i get a better offer i'll leave in an instant. why wouldn't i? my prosperity in retirement is completely unrelated to the company i work for.

TechHater
TechHater

so employees don't stick with companies because they're no longer incentivized to do so for retirement purposes, and because any loyalty they may have had has been destroyed by witnessing performance-based firings. because employees don't stick with companies, companies don't both to train employees because why sink that money into someone who's just going to leave? but then companies still need trained employees, so they hire people who are overqualified because at least they have some semblance of training, right?

but then colleges start churning out sub-par graduates to meet the demands of all those factories that need workers with bachelor's degrees, and what happens next?

Stark_Naked
Stark_Naked

It's a cash out plan-- remember the boomers? How they cashed out American and European industry for comfy social services and enough muscle to keep it for 40-50 years? All those aircraft carriers? It wasn't just one drunken night or a broken promise. It was a long career of fucking, hard and deep with the hardest cocks imaginable.

This is just the cash out plan of the boomers who happened to own interests in ventures that could either leverage or become schools. There's no magic to it.

Now, do we bitch about it or do we change it? And how?

Need_TLC
Need_TLC

gotta convince those retards that they need a degree in english to operate a CNC machine.

be sure to take out a sallie mae loan as large as possible

Soft_member
Soft_member

Sam Hyde, that you there?

What's the problem bro? Too angry to get a fucking degree lol? Top Kek

haveahappyday
haveahappyday

OPs image is fucking retarded, if you're intimidated by fucking computer software maybe the fast food industry is more your thing.

askme
askme

Even though /pol/meme Sam Hyde is probably a kike, this is some pretty shit-tier posting. It's like saying "Hey! You stink. Ha-ha!"

Quit laughing at your own shitty jokes.

Carnalpleasure
Carnalpleasure

i'm 23 with 100k to my name and that's growing quickly. everyone i work with is in their early twenties with tons of disposable income and none of us have college degrees and no debt. are college graduates going to be able to catch up to us realistically? i have more hands on experience in business and have worked with more highly qualified people than they will till theyre in their mid to late twenties. seems like a scam honestly

SniperWish
SniperWish

In the US it's not worth it. In Europe it is still just about worth it due to free/basically free university.

TurtleCat
TurtleCat

Do you do manual labor?

whereismyname
whereismyname

This is the guy that paid for a degree in women's studies

Lord_Tryzalot
Lord_Tryzalot

Why get in debt for a shit job and a piece of paper. The only people that need degrees are doctors, lawyers, and teachers. Everything else can be learned through apprenticeship. Most colleges are for profit student loans are a huge scam.

VisualMaster
VisualMaster

bump

Stark_Naked
Stark_Naked

Everyone is talking about a "College Degree" as if it is some kind of standardized training program. People think they can get away with saying they have a "College Degree" and not specifying what the actual bachelor is, nine times out of ten you find out they have something that is completely not marketable or worthless.

PackManBrainlure
PackManBrainlure

how useful is a chemical engineering degree? It looks like it's essential for the job but the job itself seems a bit lackluster. It only pays like $70,000/year maximum where I'm from.

I have friends who are doing medicine and they're trying to convince me to do it too. The pay's better but I'm not that interested in the job otherwise.

What do?

Skullbone
Skullbone

no mention of industry or type of work
bait

Spazyfool
Spazyfool

Young people are trying to play and compete in the arena that the boomers created. College degrees, corporate jobs at huge firms, it's all been set up by the boomers, and it's for their benefit, not ours. You can either suck it up and play by their rules being saddled with debt diddling through corporate jobs, or our generation can make their own way. If you want to be "successful" in the old metrics, then do what the boomers did. If you want to be "successful" in the new metrics, then carve your own path with other young entrepreneurs. Tech startups, running your own business, getting highly specific training in high tech fields, basically doing new things that never existed when the boomers were around.

Raving_Cute
Raving_Cute

You dont have to be interested in the job if youre interested in the money.

w8t4u
w8t4u

Government hands out "free" money to everyone for college
Grants are literally spending other peoples money
Young college-age adults haven't yet learned that loans must be repayed or vastly miscalculate their future ability to repay, treat loans as other people's money
Lots of people spending large quantities of money they don't care about
Colleges realize their customers don't care about cost, only about quality, increase services (and cost)
People get degrees in bullshit social sciences, because why not? It's free money right?
Every 25 year old has a college degree, no matter how stupid, inept, or unemployable
Bottom tier jobs realize they can pick between college grads and those who somehow managed to fuck up their lives so badly they couldn't even go to college for "free"
That's what happened to the college degree market.

ZeroReborn
ZeroReborn

If you want to be "successful" in the new metrics, then carve your own path with other young entrepreneurs. Tech startups, running your own business, getting highly specific training in high tech fields, basically doing new things that never existed when the boomers were around.
That's nice and all but only a minority of the population can really do that, not everyone is going to get rich making fart apps, most have to fail for a few to win.
The thing that large corporations used to provide was secure lifetime employment that allowed people to take on the risk of making big purchases and start families. When you don't have secure lifetime employment as an option you will have few people who will take the risk and spend money when their future is uncertain... that means lower aggregate demand and growth becomes the norm.
nakedcapitalism.com/2017/02/the-end-of-employees.html

All that money firstly needs to be used to fix K-12 and make corporations realize that if they actually want employees with skills they will have to pay the cost.

Boy_vs_Girl
Boy_vs_Girl

My brother has a chemical engineering degree from one of the better schools in the country for chemical engineering. He's making $15 / hr, weekend graveyard shift. Gotta put in your dues lads

Burnblaze
Burnblaze

Its literally collapsing.

TalkBomber
TalkBomber

oh yeah its only 50% higher than the median income of an entire family in the US and enough to max out for retirement and still live in comfort but you cant afford three lambos so it must be chump change right?

you must be at least 18 to post on this board

AwesomeTucker
AwesomeTucker

get on to job with no degree
boss man loves you, thinks you're a hard worker, good with people etc
they ask you to take over marketing products
boss man then pays for you to officially study marketing at uni
go to classes in evenings and have two days off work a week to be on campus
still getting reasonable salary
Not too shabby m8. I'm 21. I have an average income for the area, my school is paid for, and guaranteed job + promotion once I'm out of uni. That's the way to do it, boys.

CodeBuns
CodeBuns

This. If you play the existing game by the rules, you're gonna get fked. Making your own game is the only way to succeed.

Inmate
Inmate

be me
get graduate degree in applied mathematics (numerics and statistics)
can work in literally almost anything

sucks to be you faggots, I'm golden

VisualMaster
VisualMaster

We should protest in another #occupy rally. Will that help?
What if we wore vagina costumes?

One simple trick
See why boomers can't stand them

ZeroReborn
ZeroReborn

But there's such a hoooorrrrible STEM shortage!
Here, the only way is for us to bring in a bunch of H-1B's :^)

StrangeWizard
StrangeWizard

He is getting shafted, I started out at a company with the same shift and pay with probably no where near as difficult as a job as he has.

RumChicken
RumChicken

300k starting

back to /sci/ please

5mileys
5mileys

"Gotta put in your dues lads"
LOL theyre fucking him with no lube even if he's right out of school.
25/h for out of school, 30-40/h for real engineers, not a single one I know would get out of the bed for less

VisualMaster
VisualMaster

Factories start dropping quality until they vanish because they can't produce anymore. Fortunately though, the original bosses who cut costs have already lined their pockets and left, so its not like they give a shit.

New_Cliche
New_Cliche

This was, of course, the goal. If you devalue college by giving it out to every monkey that applies more people are forced into the system.

Good money scam for jews.

Harmless_Venom
Harmless_Venom

Highschool degrees are worthless now, they push everyone through with no child left behind.

happy_sad
happy_sad

Then don't do medicine if you aren't interested because you are going to pay your dues in a whole other way. If you feel you are dedicated enough to go into medicine, you can do well in many other fields. Hell, I am on that path right now, and I went through waves of self-doubt. You can shadow and do some volunteering to see if you'll like it just to be sure.

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