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

University of California (UC) system can no longer use ACT & SAT test results as a determinant for admissions, a superior court judge has ruled, handing a victory to students with disabilities

The University of California system can no longer use ACT and SAT tests as a determinant for admissions, a superior court judge has ruled, handing a victory to students with disabilities.

The “test optional” policy at most UC campuses affords privileged, non-disabled students a “second look” in admissions, said Brad Seligman, the Alameda County Superior Court Judge who issued the preliminary injunction in the case of Kawika Smith v. Regents of the University of California on Tuesday.

At the same time, he said, a “second look” would be denied to less privileged students and students with disabilities who are unable to access the tests. Therefore, the conclusion is to do away with the tests all together.

The news comes months after the university system waived the standardized testing requirements until 2024, after its Board of Regents voted unanimously. A news release from May stated that if a new test hadn’t emerged by 2025, the system would eliminate the standardized testing requirement for California students.

Source: USA Today

The U Experience, a startup focused on providing university students a traditional college experience with bubble-style resort campus, moves to Boca Raton Florida (Waterstone Resort & Marina) for fall semester after local outrage from Hawaii bubble hotel plans

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Editor’s Note: On August 17, one day after this story was published, The U Experience announced it would host its program at the Waterstone Resort & Marina in Boca Raton, FL.

Last week, two Princeton alumni garnered national attention for plans to create two ‘bubble’ campuses in Hawaiʻi and Arkansas, just as the University announced that all fall instruction would be remote.

After widespread backlash from local Hawaiʻi residents, the alumni’s business idea, titled ‘The U Experience,’ will no longer come to fruition at either property.

Lane Russell ’18 and Adam Bragg ’16 started The U Experience in response to many colleges’ decisions to conduct fully virtual fall semesters. They planned to house about 150 college students, who would take classes online in a ‘bubble’ hotel, where they could “come to live out the college experience with total peace of mind,” according to the company’s website.

On the same day Russell appeared on CNN, a seven-member team of Hawaiʻi residents published a Change.org petition titled “Stop Bringing Nonresident Students to Hawaiʻi During a Pandemic,” which garnered over 11,000 signatures in just three days.

According to Lexi Figueroa, who helped write the petition, the authors also received an outpouring of support from non-residents, including University alumni, who expressed opposition to The U Experience, citing the “selfish, irresponsible, and disrespectful nature of this project.”

“We only have 340 ICU beds to service the entire population of Oʻahu,” the team behind the petition wrote to the ‘Prince.’ “A single outbreak in a The U Experience ‘bubble’ would deplete nearly half of our health resources.” In total, Oʻahu has a population of nearly one million.

On Aug. 11, the U Experience announced that it had suspended plans with Park Shore Waikīkī and Graduate Fayetteville — just four days after the Business Insider feature.

In their Aug. 11 update, The U Experience team maintained, “our goal is to disrupt education, not local communities.”

Source: Business Insider

Atlanta Hawks unveil trio of new 2020-21 uniforms with franchise’s classic colors and updated wordmarks

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ATLANTA — The Atlanta Hawks today revealed new uniforms, inspired by the franchise’s signature colors and marks synonymous with the team and its history in the city of Atlanta since 1968. In addition to the uniforms, the team also released new primary and secondary logos along with new ‘Atlanta Hawks’ wordmarks. The team will begin wearing these uniforms to start the 2020-21 season.

Infinity Black and Legacy Yellow rejoin Torch Red and Granite Gray to create a visual identity derived from the Hawks proud heritage. These core colors have been present throughout the Hawks’ time in Atlanta, having adorned more than five decades of Hawks Basketball including Hawks Legends Lou Hudson, Pete Maravich, Dikembe Mutombo and Dominique Wilkins.

Source: NBA

Cal State University East Bay (CSUEB) & Laney College Professor Matthew Hubbard Placed on Leave For Mocking Vietnamese Student’s Name and Telling Her to ‘Anglicize’ it to Accommodate Him

Laney College in Oakland confirmed that they are aware of allegations of “racist and xenophobic messages” from one of their faculty members about the pronunciation of a student’s name.

According to an email chain, which was later posted onto social media, professor Matthew Hubbard had asked student Phuc Bui Diem Nguyen to change her name as it “sounds like an insult” in English.

“Your name in English sounds like F**k Boy,” Hubbard adds. “If I lived i Vietnam and my name in your language sounded like Eat a D**k, I would change it to avoid embarrassment both on my part and on the part of the people who had to say it.

“I understand you are offended, but you need to understand your name is an offensive sound in my language.”

The emails were posted onto Instagram by the student’s sister along with a video of the professor only referring to the student as P Nguyen.

“As a professor, he should be trying to learn her name and culture and not try to white wash her name. My sister graduated high school thinking she can finally be able to use her name.

“I love that my parents want to keep my culture alive by keeping our Vietnamese name. If you can’t say it then ask.”

Source: Newsweek