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1,000 Harvard Students Walk Out of Commencement to Support 13 Seniors Barred from Graduation over Gaza
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this post was submitted on 26 May 2024
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Pay rate increases while at your job and gaining "higher" education is a mixed bag. How much did that education cost vs the pay raise? How long is required to break even on that investment? With the constantly rising costs for said education that gap isn't getting smaller either.
The sciences are, certainly, one field that can benefit from higher ed. Of course I made such an acknowledgement in my original statement as well. While it seems a few dozen people chose to take that as 'we don't need no education'... the statement was directed at funneling the masses through a system to extract profit... and to have a high hit rate offer courses that could be learned directly from the trade being entered. It's a racket. A long con. And it's an unfortunate reality a lot of students don't realize they are caught in until they exit the machine on the other side.
According to the USA's BLS the median pay going from a high school graduate to master's degree more than doubles to 5988 a month, and this doesn't even consider how employable that person is as a result of their degree rather only the ones who are employed meaning that the average HS graduate probably has even less to live off of.
A Graduate Student might pay roughly $950 USD a month, so even on master's degree salary it's a benefit of $2054 USD.
In other nations the Education might even be offered for free, even for immigrants, in which case it is even better.
I may not like the state of academics as a profit driven business, it's one of the many dead dream machines of our modern society, but education as an option for bettering one's self and as a concept is something I vehemently defend.
I appreciate you taking the time to do the math. It was early enough to where I wouldn't trust my caffeine deficient mind to do. Kudos.
You and I agree on your final point completely, I just simply believe in non institutional learning. (where applicable, of course)
Education does lead to better pay, certainly. The numbers are somewhat more complicated when it comes to the arithmetic behind it. This is where I find nothing but crippling faults with the American education machine.
An average cost of instate education for a masters is (this is low) 45k. If repaid at 6% apr in 3-5 years were looking at roughly 4500-7k in interest. Let's call it 50k total deficit. During this same time (3 years education+3 years repayment) let's assume our highschooler is working and investing his earnings in a moderate 6-10% fund. In 6 years how close are they? Which is closer to home ownership (it's a joke. neither! but we can dream.)
Without question at a certain point the masters degree will pay off and assuming the same strategy - will overtake the highschool graduate in assets.. but the time investment is far more significant than one would anticipate. The actual calculations are very complex as a lot more goes into each of these scenarios- but it does illustrate some of the flaws with assigning x wage vs y wage. In the end I am not specifically speaking against all higher education but speaking for an understanding that it isn't the only path to take.
It massivelly, massivelly depends on the area.
In cases were errors can mean death, people will simply not be allowed to practice without the kind of "practical learning whilst under supervision and being assessed" that you see for example for doctors, and which are incredibly hard to conduct outside a formal education environment so in practice you'll probably not find it (often only people who are trained doctors from countries whose universities are not recognized locally get that kind of opportunities without going through the local formal education system so that they can gain compatibility and practice locally).
In other areas it's just because practically the having a Diploma or not is an easy way to prune down tons of candidates for entry-level positions: for example if you're a hiring manager in IT still having to do all the other work alongside hiring and you have 20 candidates for a single entry level position, putting aside those who neither have relevant job experience nor a Diploma is pretty logical and has a high probability of avoid wasting time with people who have no clue how to do the job - you need to be pretty free of other work to spend the time interviewing all 20 candidates just in case one of the has all the necessary knowledge but no proof of it.
Mind you, even things like Software Development still hire people without Diplomas - they just have to show relevant experience such as having worked in an adjacent area which also uses those skill or having participated in open source projects.
However going through the whole paid for formal education process to get a Diploma and then not actually being able to work in that area because there are far fewer jobs that graduates can indeed often be considered a con - it really depends on how useful all that preparation in a formal education setting ends up being for your actual job.
I apologize for not responding to this sooner - you took the time to write that out and I had obligations which didn't leave me much time to read through it.
First off- I agree completely that it depends significantly on the field- this was my reason for not stating all educational paths are irrelevant. With a nod to your mention of pruning - it doesn't appear to be solving much considering how bad the entry level job market is for a lot of graduates. I have been fortunate in my career and know people from both camps. Both sides will freely admit the grass looks greener on the other side (which I would take as an acknowledgement of similarity.)
My issue is and remains with the for-profit education system we have now. We have basically sold these young minds on "you need to go to college or you will struggle and fail as an adult." It doesn't matter what field you take college is the only path. We then have a surplus of graduates flooding a market that simply cannot absorb that many new bodies. Aforementioned graduates have debt and a need to find work to pay that debt down ... and they are desperate. Perfect. Here's your underpaid entry level position with 0 job security - work harder than you should to maybe have a chance of not being laid off come earnings season.
Capitalism does not belong in higher education - and when that higher education wants to stand on some ivory tower and hold a students livelihood hostage? Fuck them. They may offer structured education but they do not gate keep learning. I digress.
Generally speaking I think your views more or less fall into the "technically yes, but it's complicated" category... which I have 0 issues with. Education is complicated. Especially now- and I think a lot of the discussions that draw focus to it and its issues are valuable. Cheers.
Oh, yeah, I agree with you that at a systemic level, for-profit education isn't serving the best interests of people in general or even of a country.
And it's simply due to how any private company works: their objective is to maximize shareholder (or stakeholder, for companies which don't have shares) returns, nothing else - they might provide the "customer" with something positive if that's what it takes to generate said returns, but what you see very often in complex enough situations or those where the final outcomes for the "customer" take a long time to materialize is the companies selling something that ultimatelly doesn't provide the promised benefit to the customer.
The For-profit motivation has no place in things which are strategical for a country's future and its people, and that includes Education IMHO.
Personally I'm fortunate to have been born in a country where higher education is mainly a Public service (there are a few Private Universities nowadays, but they're not considered the best ones) and selection for entrance is reasonably meritocratic (based entirelly on grades and domain specific entrance tests, though people who went to better highschools in nicer neighbourhoods or whose parents were themselves highly educated, provided them a good environment and taught them good practices like reading, still have some advantage).