The amount of unemployed college graduates with a university degree is not funny, but this video by JP Sears is.
University Degree or No University Degree, that is the question.
I know that the most intelligent way to start making a lot of money is to find a way to get at least $100,000 in debt before you even begin making money‑‑so I decided to go to college.
College isn’t for most people; it’s for all people. If you don’t get a degree, then you’re declaring you want to be homeless, unhappy, and a failure for the rest of your life. Having a college degree has now been the standard for so long and now everyone in the workforce has one, so you having one makes you just like everyone else, and at the same time, somehow your degree sets you apart from everyone else.
If you don’t see the brilliance in how this helps you, then you’re not very intelligent. You clearly didn’t go to college. My college degree is social validation that I’m someone. I earned it, and I earned it by paying for it. There is no other way to verify that I’m an intelligent person capable of success and doing big things in the world.
Imagine if people were born with innate brilliance, potential, vision, creativity, and ability, then we wouldn’t need college.
But that’s not the fantasy world that we live in from what I’m told. I think it’s important to acknowledge that those innate qualities are only found in university education. If you don’t go to college, there is no chance that you’ll have a successful career. Success isn’t dependent on hard work, vision, and creativity. It’s dependent on the degree you achieve before you started achieving in your career.
I can’t think of anyone who’s successful who doesn’t have a degree, not a single person specially not anybody that inspires me. What excites me even more than $100,000 of tuition cost for a degree is all the interest that I have opportunity to pay on that loan. This adds even more value to my college education because it means I pay more for my education than what my education costs because I can’t afford my education.
Teachers who only teach a subject rather than actually doing the subject out in the world are the true purveyors of wisdom. They’re basically like the wise elders in our society and they’re definitely the wise sages that I’m willing to go into debt for half my life for so that I can learn from them.
From early elementary school, I was taught to think that I need to do well in school so that I can get accepted into college, so that I can have a successful career because that’s what I was taught to think. I think that’s what I actually think. Therefore, I think that getting a degree is not only a guarantee that I’ll have a successful future, but I also think that it’s the only way I can have a successful future. and that’s a fact.
Because there isn’t a way to get free information about anything anytime you want it, I think universities are completely justified in charging their customers the prices that they do. Because 30 years ago, a college degree would set you apart, it means it still does today. It’s just like once upon a time, a horse and buggy was the most effective form of transportation, then came cars, then came airplanes, but even still to this day, a horse and buggy is the most effective transportation.
What kind of job do I have now that I’m out college? I’m unemployed, but last month I had a job for 3 days. I was hired by an 18-year-old tech entrepreneur, but then he said he had to let me go because I lacked the practical skills to get my job done well. He acted like he didn’t even know that I have a degree. He probably doesn’t even know what a degree is, probably thinks in Celsius or something. But my prospects are looking good.
Here’s my new plan: I’m going to take all the skills that I learned in my MBA and open a video rental store.
JP's video really highlights the new dilemma that millennials are facing when it comes to college and university degrees and their career options.
Take for example twenty-one-year old Christian McCrave from Ontario Canada who was recently featured in an article from CBC News Canada.
Christan got good grades in high school and completed a four-year degree at the University of Guelph in southwestern Ontario. He studied mechanical engineering, in part because he thought it would land him a job.
But it hasn't.
“I actually thought that coming out of school that I would be a commodity and someone would want me,” McCrave said. “But instead, I got hit with a wall of being not wanted whatsoever in the industry.”
Like many university graduates, Christian believed in the unwritten promise of a post-secondary education: work hard at school, and you'll end up with a good and stable job.
“Being unemployed while having a degree is kind of a kick in the face,” McCrave said. “If anything, it's a setback. You have all this debt and this degree, and everyone has one, but it doesn't get you further in life sometimes.”
But Christian isn't alone. More than 12 per cent of Canadians between the ages of 15 and 24 are unemployed and more than a quarter are underemployed, meaning they have degrees but end up in jobs that don't require them.
According to a Newsweek article entitled “Millennial College Graduates: Young, Educated, Jobless similar numbers are emerging in the U.S. where 40 percent of the unemployed are millennials… many with college and masters degrees.
Which brings us to the big question:
Does a University Degree Make Sense Anymore?
The answer lies in what field you decide to specialize in. For example if you want to be a doctor, then you need a medical degree for sure, otherwise you cannot practice medicine.
But despite the high demand in the medical field, many doctors are not finding a suitable career to match their skills right away. Due to government budget cuts, several of my doctor friends had to relocate to new towns and cities to find a job. A few started their own practice as hospitals in their area were not hiring.
Plus doctors are some of the hardest working people on the planet who put in insane hours for study and application.
When you factor in the amount of hours they had to study and work to the income they make, their hourly rate, factored over the years, is not as glamorous as many would image it to be. Its no wonder that many doctors opt out of medicine and decide to go into the beauty industry instead. There's way more money to be made injecting Botox and facial fillers… something a nurse can easily do.
On the other hand if you are going after a generic university degree in business administration, political science, engineering or psychology degree, you might find that your degree has only set you back several thousand dollars in student debt, with unimpressive job options to choose from… unless your family is well connected or you have exceptional high grades.
Before you choose an area of study, make sure there is a high demand for those skills first and look for opportunities to implement what you learn during your studies. Don't wait till after graduation hoping someone will hire you.
Even if you are one of the lucky few that lands your dream job, there's no guarantee that you can keep that job for long. You will always be at the mercy of your employer or the job market.
What About You?
If you already have a university degree, then use it to your advantage. Degrees are still looked high upon by most people, even though they won't guarantee the jobs or income you have in mind.
If you don't have a degree yet and you are wondering what to do with your life and career options, why not take a year off first and learn money making skills like marketing and sales.
Lead generation, conversions and sales are skills you will need in any business. Worst case, they can help land you a job in the future if you decide to go down the employment route again.
For example, if you are able to spend $1,000 on advertising that generates $1,000 + $$$, then you can easily duplicate that process with higher and higher amounts and increase your income.
In a simplified form, here's what you need:
- Learn how to find leads who are interested in a particular offer.
- Your offer needs to have a high profit margin and high conversion rate, otherwise you will not be able to afford the advertising costs… (an area most businesses suffer).
- You need to have a systematized fulfillment process that does not require your time or resources, otherwise you will not be able to handle the volume and scale your income.
As you get better with internet marketing, you will be able to scale your advertising dollar amount, allowing you to multiply your income in weeks and months, rather than in years of hard work.
Once you master that formula, you will find multiple businesses knocking on your door asking for your help at top dollar.
You can also choose to do both, like I do and create multiple streams of income. Income from client work and income that is generated by online sales of other people's products and services.
Keep it Simple: Focus on Skills That Matter!