Retired Fortune 100 Executive Thomas B. Walsh Answers To Why So Many People Settle For Low-Paying Jobs With Expensive College Degrees

“Settle” for low-paying jobs?

You can’t be serious, Dude.

There was a time in the US when you could get a great job if you earned a bachelor’s degree in “anything.”

The catch is that JFK was president at the time.

Most parents (and their students) are oblivious to how college really works today.

In some ways it is hard to blame them. Colleges and universities have a powerful public relations team, pushing the message 24/7 that “college is for all.”

The team is made up of educators, guidance counselors, financial aid officers, politicians, pop culture, special interest groups–like the College Board, and college administrators—who are the biggest beneficiaries. Their influence is everywhere.

Many, many years ago, my “anything” degree, Philosophy, was from a state university in fly-over country, better known for its football team than scholarship. (As I vaguely remember, my GPA wasn’t that robust either.)

However, I had a successful career in IT, and retired as an executive from a Fortune 100 company.

The bad news is that college doesn’t work that way anymore.

Years ago very few high school grads (7%) went on to college. (They tended to be the “smart kids.”) If you graduated with a degree in anything, i.e. English, Gender Studies, Comp-lit, Philosophy, etc., you could get a good job.

Over the years a greater and greater portion of high school grads answered the call,

“You have to go to college!”

We are now at 45%. Probably half these teenagers don’t have the “academic firepower” to handle a serious, marketable major.

Back in the day having a college degree was a big deal. By the year 2000, the quality of a college education had deteriorated significantly, and college grads were a-dime-a-dozen. There were too many graduates, but not enough suitable jobs.

Then we got hit with the Great Recession of 2008.

In the US almost anyone can find a college or university that will accept them and their parent’s money.

You might even manage to graduate with some degree or another.

The problem comes when you try to find a real job. Employers aren’t stupid. They are going to sort through that gigantic stack of resumes and find the smart kids.

Today college is a competition for a relatively few (1,100,000) well-paying, professional jobs. Every year colleges and universities churn out 1,900,000 graduates with shiny new bachelor’s degrees. We don’t know the exact number, but a heck of a lot of minimum wage jobs are held by young people with college degrees in stuff like English, Gender Studies, Comp-lit, Philosophy, etc.

Given the high cost of college, that just doesn’t make any economic sense.

PS

The “Anything” Degree

Two decades ago in his book, Another Way To Win, Dr. Kenneth Gray coined the term “one way to win.” He described the OWTW strategy widely followed in the US as:

  • “Graduate from high school.
  • Matriculate at a four-year college.
  • Graduate with a degree in anything.
  • Become employed in a professional job.”

Dr. Gray’s message to the then “academic middle” was that this was unlikely to be a successful strategy in the future. The succeeding twenty years have proven him inordinately prescient and not just for the “academic middle.”

The simple explanation is that it comes down to “supply” (graduates) and “demand” (suitable jobs).

Fifty years ago only seven percent of high school graduates went on to college. In post-WW II America our economy was booming while the economies of many European and Asian countries were–only slowly–being rebuilt. The “Law of Supply and Demand” strongly favored the freshly minted college graduate.

Parents and students noticed how college really paid off, and the “great gold rush” to the halls of higher learning began.

Today my local, Midwest run-of-the-mill high school sends eighty percent of their graduates on to college.

Most of them are going to be very disappointed.

Source: Quora

Korean American entrepreneur Sophia Chang Told by Prudential Employee James Hilbrant to ‘Go Back to Wuhan’ While Having Lunch at Bluewater Grill in Newport Beach

The man who told Korean American entrepreneur Sophia Chang to “go back to Wuhan” while out having lunch with her sister has been allegedly identified as James Hilbrant of Orange County, California.

According to his LinkedIn page, Hilbrant works as a “financial professional” for Prudential Advisors and can “provide assistance on a range of financial issues-from evaluating insurance needs to helping clients grow their assets.” On Tuesday, Sept. 15, LinkedIn and Facebook profiles associated with Hilbrant were deactivated.

The incident happened at Bluewater Grill in Newport Beach, California over the weekend when Chang was having lunch with her sister. Hilbrant made eye contact with Chang while he was heading to the bathroom and allegedly told her to “go back to Wuhan.”

“Once he returned, we asked him why he would say that and he goes ‘I don’t speak Chinese, I don’t know what you’re talking about,’” Chang said in her Instagram post. “I’m so disgusted. If you see people practicing this sort of behavior. REPORT THEM.”

Hilbrant was reportedly asked by a staff member to leave the restaurant but didn’t leave immediately.

“I believe he personally knew the waitress who was serving him, because she gave him a hug before they left,”Chang said. “They were chatting for a bit so it took awhile for them to leave.”

In a statement posted on Instagram, Bluewater Grill said they “immediately addressed the situation with the customer and asked them to leave.”

“We understand that some feel there was a lack of urgency in removing this patron from the premises,” the statement continued, “However, the safety of all our customers and staff is our utmost concern and we wanted to make sure this situation did not escalate and become hostile.”

Bluewater Grill continued to note that it took the customer 10 minutes before he could pay for his bill and leave the premises as well as the hug that happened between him and one of the staff.

“Within 10 minutes the person paid their bill and left the premises. There is also mention of the customer hugging our employee, and we would like to make it clear that this was unsolicited and occurred before our employee was made aware of the situation.”

“After the patron left, we made sure that our guests were comfortable and well taken care of. The patron in question is no longer welcome at Bluewater Grill.”

Bluewater Grill, which has been in business for 24 years, said they pride themselves “on our customer service, diverse staff and commitment to a safe environment free of racism or harassment.”

“We do not condone prejudice or racism in any form. This includes remarks made by customers which we cannot control. We take matters like this seriously and are disgusted that any guest would be subjected to an insensitive remark by another guest.”

Prudential Advisors told NextShark, “Prudential has zero tolerance for discrimination and takes these allegations very seriously. This matter will be investigated to the fullest extent possible and appropriate action will be taken, as warranted.”

Source: NextShark

Jemele Hill: Athletes Go Broke by Feeling Guilty for Winning “Lottery Ticket” in Life

In this clip, Jemele Hill speaks about athletes going broke after their sports career ends, and she starts out by explaining that a lot of Black athletes have never had a model for managing generational wealth. She went on to speak about athletes being “depreciating assets” from the time they start their sports career, and she added that most NFL careers last less than 5 years. Jemele then addressed the large entourages of some players, and she explained that some of them feel a sense of guilt for winning the “lottery ticket” in life, which you can hear more about above.

One year after revelations of admissions bribery scandal, California’s oldest private university USC offers free tuition to students from families making under $80,000; home ownership will not factor in need

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The changes will be phased in beginning with first-year students entering USC in the fall of 2020 and the spring of 2021, the university said.

Folt, the former chancellor of the University of North Carolina at Chapel Hill, was named USC’s president in 2019 as the university was addressing a series of major scandals, including the college admissions bribery case.

That scandal came in the wake of allegations that USC ignored complaints of widespread sexual misconduct by longtime campus gynecologist George Tyndall and an investigation into a medical school dean accused of smoking methamphetamine with a woman who overdosed.

Source: ABC 7