One of the things I talk about in my book and during my presentations is that a college degree guarantees nothing. Now the Wall Street Journal is on my side - http://tinyurl.com/6q6zus
Here's my argument (and it's sound). How many people do you know who have a college degree but are currently working in a field that has nothing to do with their diploma? You can name several...if not dozens of friends and family members. Take out law and medical degrees and the earnings gap between those with degrees and those without narrows big time.
My stance on the importance of college degrees is most pronounced when talking about career changers. If you have been laid off or in the midst of a voluntary career switch, why take 2 to 5 years out of your life and spend money (borrowed or from savings) on something that doesn't offer a guaranteed return on investment?
If I could do it all over I would go to film school...with the understanding that I probably wouldn't end up as a film producer, but would relish the experience and the contacts I made. You can do that when you are 19 years old, not 35 or 40. I have 5 sons, the oldest starts his second year in college next month.
For those just starting out in life, do what you want while you can...but don't rack up $100,000 in college debt for a job that pays $36,000 a year - http://tinyurl.com/lrta7 - For those who have greater responsibilities, such as a spouse and kids to take care of...think long and hard about the ROI of a sheepskin at middle age.
Happy Selling!
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