Salon 1

As I predicted, soon, in the US, college would end up being a bad investment from a business perspective. There is now a recent article echoing these concerns. Of course, the real value of education depends on the individual and what they do with it, but the economic value must be evaluated from the resulting salary (multiplied by the probability of getting such as job and the years in service), vs. the full cost of acquiring the education needed for the position (including all living expenses and missed opportunity income and years of service). Hence, there will be a point, if it has not been realized already, where a good paying job that does not require a degree (and there are still some out there), will be a better investment (ecomomically) than a low paying 4 year degree.

There are many examples or individuals acquiring wealthy salaries without a college education (some actors, athletes, musicians, etc.). A common joke when fellow engineers make a brilliant accomplishment is, “Now if I could just hit a ball with a stick, I would be a millionaire.” However, this phenomenon is tempered by the low probability of scoring such an opportunity, based on the assumption that these positions are destined for the creme de la creme – which may or may not always be the case, but it is a safe assumption.

On the flip side, a weekend with a Java book will give someone all the necessary skills for a high tech position that would otherwise be reserved for someone with a 4 year degree.