What’s a College Degree Worth These Days?

What’s a College Degree Worth These Days?

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That seems to be the topic on everyone’s mind as millions of American students head toward graduation this month. And by everyone, I don’t mean my classmates, the ones who have scrimped, saved, borrowed and begged to pay for their degrees. I mean the professors, parents and education reporters who just can’t stop talking about how bleak the job market is for new graduates.

According to a recent Associated Press analysis of government data, 53.6 of bachelor’s degree-holders under the age of 25 are unemployed or underemployed. News flash: the job market is tough for everyone. It has been since before we entered college.

According to the Bureau of Labor Statistics, the unemployment rate in 2000 was at a 30-year low at 4 percent. We are now hovering around 8 percent, and that’s pretty positive. Still, in 2000, 41 percent of bachelor’s degree-holders under the age of 25 were unemployed or underemployed.

It’s not just college students being hit hard by the economy, or even being hit much harder, but it seems we are just a focus group that has been spotlighted. Maybe because we know this, and because we know that it’s going to be difficult, none of my classmates are asking each other where they’re going to be working after graduation, but rather we are asking each other what we’re going to be doing.

For some, it’s time to decompress, travel and start exploring the world. After navigating the labyrinth of paperwork and red tape of completing an ever-more-challenging requirement list, it’s time to take some time.

For others, yes, it’s time to work. And this may be at our retail, waitressing or freelance jobs. But if it pays the bills, then it’s ok for the time being.

No college degree can ever guarantee a job. And even if it does, it can never guarantee a job you’ll love. In a good job market or a bad job market, an education has more worth than the monetary value that a Gallup poll places on it, and the more I think about it, the more I begin to resent this monetization of the college experience.

Thirteen years after graduating high school, I’m about to finally obtain my bachelor’s degree. Perhaps because I took time off, went out there in the “real world” and found positions that were well-paying and didn’t require a college degree, it doesn’t feel like I’ve wasted my time or my money to get this degree. Those jobs might have paid the bills, but they didn’t make me happy.

As cliché as it may sound, the degree is about learning, about gaining knowledge and skills that will serve me well in any job that I do end up obtaining. Critical thinking, multitasking and the expansion of my worldview cannot be measured in a starting salary.

Yes, I might have to wait tables a little longer than I’d like, but if there’s anything that the last decade has taught me, it is that my degree holds more value than the dollar amount someone is willing to pay me just to see it on a resume.

It has also taught me that for those willing, able and determined, there is a place in the workforce. It may not be in their field of study, but it may be something that they love even more.

Those graduates who will get jobs are either in one of the few fields that have lots of openings, or the ones who are willing to try, try, and try again no matter how many rejections – or worse yet, unreturned phone calls – they must face.

They will take unpaid or low-paid internships (now that’s a whole other conversation) and hope to work their way up. They will sling burgers or fold cardigans until whatever debt they’ve accumulated is paid off, hopefully taking on projects that interest them on the side until they can secure a full-time position.

Despite all the reports of doom and gloom, don’t worry about us. We’re going to be just fine.

Kelly Goff is graduating from San Francisco State University with a degree in journalism.

 

Comments

 
Anonymous

Posted May 22 2012

Congratulations on earning your degree in Journalism Kelly! While the current state of the economy and subsequently the job market, might not be that promising to people graduating this year, the reality is that those with a college degree simply have better options than those without one. I know quite a few people who have taken advantage of the current economic downturn and returned to school to better themselves and improve their marketability by obtaining their first or additional degrees, it is an excellent thing to do!

Anonymous

Posted May 24 2012

Really? I guess if you have wasted the last few years of your life earning a degree and pilling on debt up to your neck you have to find some semblance of optimism. However, the reality is that a degree, especially one from the Cal State system is worthless. Why? Because there are too many people with higher degrees competing for a small number of jobs. Don't give up though, maybe you could end teaching in some community college just like all the other hacks that couldn't hack it in the real world. By the way, unpaid internships are freaking joke and bad for the economy.

Anonymous

Posted May 24 2012

Really? I guess if you have wasted the last few years of your life earning a degree and piling on debt up to your neck you have to find some semblance of optimism. However, the reality is that a degree, especially one from the Cal State system is worthless. Why? Because there are too many people with higher degrees competing for a small number of jobs. Don't give up though, maybe you could end teaching in some community college just like all the other hacks that couldn't make it in the real world. By the way, unpaid internships are a freaking joke and bad for the economy. Hey journalism professors! Grow a freaking pair and tell your students the reality of the modern age of information! I wasted 6 years of my life to get laid off and be replaced by a bunch of unpaid bloggers. Do your self a favor and change majors because the days of paid journalists are slowly coming to an end.

Anonymous

Posted May 24 2012

If the main source of employment is it re-teach what you just learned, your degree is worthless.
Stick to the S.T.E.M. Science Technology Engineering Math systen. Liberal arts degrees serve no practical purpose.

Anonymous

Posted May 25 2012

Great article Kelly!

..to the commentors that think journalism is becoming a thing of the past and S.T.E.M. is "where it's at - they may want to re-think just a bit...after all, there will always be people needed to write the future, as well as tell our history; and technology is a part of that...

From attending college myself, I have found it is generally easy to spot non-degree people, their views tend to be less optimistic and more apt to have tunnel vision..

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