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

JOB FINISHED | A look back at the media’s disrespect of the 2020 Lakers

They said LeBron came to Los Angeles just to make movies and that he had a better chance of winning an Emmy than a championship.

They said that even with Anthony Davis, the Lakers’ roster sucked & was clearly worse than the Clippers.

They said they were an overrated 1-seed who needed wishes of good luck to beat the Portland Trail Blazers & Houston Rockets.

Instead, the Los Angeles Lakers are your 2020 NBA Champions. And in case you forgot how dead wrong they’ve been since day one? Just sit back and watch.

What it’s Like Being on an Empty Cruise Ship During Covid-19 — “Everything is shut down, lights are off, furniture is covered up. It’s a ghost ship.”

For the cruise liner industry, the COVID-19 pandemic officially began on March 14. That’s when the US Centers for Disease Control and Prevention issued a “no sail” order on all cruise ships operating in US waters. At that point thousands of people were falling ill on various ships around the world, pitching the industry into damage control. From there, individual companies suspended cruises one by one, putting the industry on hold.

We spoke to a man named Jeff Birmingham about what it’s like being one of 99 people onboard a stationary cruise ship designed for 6,000. Jeff describes being alone for most of the day and how the industry is faring from an insider perspective.

Tell us about where you are at the moment.
I’m offshore of Singapore in what I can only describe as the biggest ship parking lot I’ve ever seen. My contract is through February of next year and I’m not sure if I’ll touch dry land before then. As of now, we’ve been told not to expect that.

How does it feel to be on an almost empty cruise liner?
It’s surreal. This ship was built to host thousands of people and I’ve spent years on this ship experiencing it as it was designed. But walking around now, the ship feels lifeless and empty. It’s in stasis waiting for the world to sort itself out so it can go back to what it’s designed to do. Everything is shut down, lights are off, furniture is covered up. It’s a ghost ship.

What do you do everyday? Is there enough work to keep you busy or do you get bored?
I’m not really ever bored. My department usually has about 150 people but now it’s just me to deal with all the paperwork and inspections. It’s an overwhelming amount of work keeping the ship in the kind of condition it needs to stay in so it can go back into service. Plus, since there is very little to do socially the work basically takes all my time. I’ve been here over a month and it feels like I just got here.

Source: Vice

For the first time since the Great Depression, a majority of young adults (ages 18-29) in the U.S. now live with their parents — Report

As COVID-19 swept the country this year, millions of young adults retreated to familiar territory: living at home with mom and dad.

A majority of young Americans ages 18 to 29 are now living with at least one of their parents, according to a Pew Research Center analysis of Current Population Survey data. About 52% of this age group, 26.6 million people in total, were living with their parents in July, compared to 47% at the same time last year. This number surpassed the previous record of 48%, which was set in 1940, during the Great Depression.

Since the proportion of 18 to 29 year olds living at home hit a low of 29% in 1960, the number has risen over the decades, jumping to 36% in 1990, to 38% in 2000 and 44% in 2010. However, the increase this year is notably sharp, and tracks with the trajectory of the pandemic; while about 46% or 47% of young adults lived at home through 2019, in 2020 the number jumped to 49% in March, 51% in April and 52% from May through July.

Source: Time

San Jose teacher who coughed on 1-year-old baby in Yogurtland fired by Oak Grove School District

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“As many know, there have been allegations that a District employee was involved in a videotaped incident in which the person appeared to have intentionally coughed on a baby at a local Yogurtland. We want to inform our community that the District employee who was alleged to have engaged in this conduct is no longer an employee of our District. The Oak Grove School District’s highest priority is the safety of our students and the well-being of all of the children in the community we serve. We do not tolerate conduct from any employee that compromises any child’s safety. As we welcome our students back for learning this summer and in the fall in these unprecedented times, the District’s commitment to creating and maintaining a safe environment for our students is unwavering.”

The boy’s mother, Moreya Mora, says police have shown her a photo lineup and she’s identified the woman.

Source: ABC 7

Unpaid Internships

People should turn down unpaid internships. It’s never gonna get better if people keep accepting these positions. They’re the ones who allow companies to keep doing this. If I have to find other things to do outside of work it’s guaranteed you won’t have me at 100% every morning