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

Software Engineer Rashiq Zahid Creates Website That Knows If Your Local McDonald’s Ice Cream Machine Is Broken

There’s a tired joke about McDonald’s chronically broken ice cream machines. You’ve heard it, I’ve heard it, and 24-year-old software engineer Rashiq Zahid has heard it.

Fortunately, one of us—the engineer, of course—found a way to protect McDonald’s fans from the age-old disappointment of heading all the way to a store only to be told the ice cream machine isn’t working. Zahid calls his new masterpiece mcbroken, and it actually appears to work.

In simple terms, because, let’s be real, most of us don’t know what the hell reverse engineering an internal API means, mcbroken acts as a bot that tests the availability of ice cream sundaes at every US location every 30 minutes. It does so by trying to add a sundae to the cart on McDonald’s mobile app.

If the app fails to add a sundae to the cart because ice cream is unavailable at that location, that spot is marked with a red dot on the map. If the app succeeds at adding a sundae to the cart, it means ice cream is available at that location, earning the spot a green dot on the map.

Source: Thrillist

California Lawmakers to Consider Reparations for Slavery

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California lawmakers are setting up a task force to study and make recommendations for reparations to African Americans, particularly the descendants of slaves, as the nation struggles again with civil rights and unrest following the latest shooting of a Black man by police.

The state Senate supported creating the nine-member commission on a bipartisan 33-3 vote Saturday. The measure returns to the Assembly for a final vote before lawmakers adjourn for the year on Monday, though Assembly members overwhelmingly already approved an earlier version of the bill.

“Let’s be clear: Chattel slavery, both in California and across our nation, birthed a legacy of racial harm and inequity that continues to impact the conditions of Black life in California,” said Democratic Sen. Holly Mitchell of Los Angeles.

She cited disproportionate homelessness, unemployment, involvement in the criminal justice system, lower academic performance and higher health risks during the coronavirus pandemic.

Although California before the Civil War was officially a free state, Mitchell listed legal and judicial steps state officials took at the time to support slavery in Southern states while repressing Blacks.

The legislation would require the task force to conduct a detailed study of the impact of slavery in California and recommend to the Legislature by July 2023 the form of compensation that should be awarded, how it should be awarded, and who should be should be eligible for compensation.

The panel, which would start meeting no later than June 2021, could also recommend other forms of rehabilitation or redress.

In the last two years, Texas, New York, and Vermont have considered similar legislation, according to a legislative analysis. It said reparations could take the form of cash, housing assistance, lower tuition, forgiving student loans, job training or community investments, for instance.

Sen. Steven Bradford, a Democrat from Gardena who supported the bill, said he only wished it was more than a study.

He noted that Friday marked the 57th anniversary of the March on Washington and The Rev. Dr. Martin Luther King, Jr.’s “I Have a Dream” speech.

“If the 40 acres and a mule that was promised to free slaves were delivered to the descendants of those slaves today, we would all be billionaires,” Bradford said. “I hear far too many people say, ‘Well, I didn’t own slaves, that was so long ago.’ Well, you inherit wealth — you can inherit the debt that you owe to African-Americans.”

Source: AP News

Brooklyn Nets’ Owner Joe Tsai Pledges $50 Million to Create ‘Economic Mobility’ in Brooklyn’s Black Community

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The Brooklyn Nets, led by owners Joe and Clara Wu Tsai, are pledging $50 million over 10 years to establish and support they hope will lead to economic mobility in the Black community.

The couple will lead a “five-point plan,” which will include continued support for its players pushing for social and economic equality and address wage gaps in communities of color, starting in Brooklyn. The plan will also address diversity within the Nets organization and the National Basketball Association league office.

“After George Floyd’s death, we felt like we needed to take a firm stand on racial injustice,” Clara Wu Tsai said in an interview with CNBC on Monday. “I wanted to state our beliefs on this issue — that racism is pervasive and needs to be addressed, and I wanted to lay out core principles that clarified our purpose as an organization.”

Source: CNBC

Creative agency founder and CEO Melissa Rein Lively (The Brand Consortium Public Relations, TBCPR) trashes face mask display in Target, tells police she’s a spokesperson for The White House

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An Arizona woman, dubbed the latest “Karen” by social media, filmed herself destroying a face mask display inside a Target store over the weekend.

In the footage, Melissa Rein Lively, who runs a public relations company in Scottsdale, can be heard going on an explosive rant as she points the camera at a display of protective face coverings.

“Finally we meet the end of the road. I’ve been looking forward to this s–t all my f–king life,” says Lively in the video, which has been viewed 5.9 million times.

A second video, also recorded on Instagram Live and which has been viewed 2.6 million times, showed the aftermath of the Target mask debacle: Police officers are seen inside Lively’s garage.

When the officers confront Lively, she informs them she’s a spokesperson for the White House and she can’t share “classified information.”

Source: NY Post

Lakers Owner Jeanie Buss Shares Racist Letter from Fan; ‘We All Must Do Better’

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Los Angeles Lakers owner Jeanie Buss shared a racist letter sent to her by a fan in an Instagram post Friday.

The letter said: “Dear w—e, After 60 years as a huge Lakers fan, I now say to hell with the overpaid n—-r traitors and the NBA. Go to hell and join [redacted] Kobe Bryant.”

Buss explained she felt it was important to share the letter: “I have received letters like this over the years. The advice I always got? ‘Ignore it.’ I did. But not anymore. On this day, Juneteenth, I ask my white friends to join together, acknowledge the racism that exists in our country and around the world, and pledge to stop ignoring it. We all must do better.”

Source: Bleacher Report

Corona Extra Breaks Silence To Cut Associations With Coronavirus Pandemic – Has Confidence That Drinkers Are Smart Enough To Know Difference

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“We believe, by and large, that consumers understand there’s no linkage between the virus and our business,” Maggie Bowman, the senior communications director at Constellation Brands, Corona’s producer, told Business Insider on Wednesday.

“Corona” in Latin means crown, and the word is the same in Spanish. Corona beer originated in Mexico.

In English, the anatomical term “corona” is used for body parts resembling a crown. Hence, the name “coronavirus” comes from the fact that under a microscope the virus has crown-like spikes protruding from it, as previously reported by Business Insider’s Holly Secon.

Source: Business Insider