Colleges and universities are churning out 1,900,000 bachelor’s degrees every year. College grads are a-dime-a-dozen. Forty-three percent of those who graduate (around 800,000) end up in jobs that don’t require a college degree. This varies widely by major.
Liberal Arts majors end up underemployed upon graduation fifty-four percent of the time. That’s not a good outcome. If you are saddled with a heavy load of student loan debt, it’s a disaster.
There are three factors in play here.
- Supply vs Demand
- The Quality of the Supply
- The Signaling Power of the Degree
Every Tom, Dick, and Harriet matriculates today–45% of high school graduates. Half of these students don’t have adequate academic qualifications to do serious college level work. Twenty-five percent require a least one remedial class. (My run-of-the-mill, local high school sends eighty percent of their graduates to college.)
Years ago employers assumed, as a college graduate, you were smart. Any degree would get you a well-paying job. Today, if you manage to graduate, you are going to have to prove you are brainy, if you expect to get a position that requires a college degree.
A Liberal Arts degree screams, “I hate math!”
To overcome the negative signaling power of that Liberal Arts degree, and to be heard above “the noise,” you need to create a resume rich in experiential learning: internships, externships, studies abroad, volunteering, apprenticeships, field work, etc.
Instead of taking The History of Rock and Roll as an elective, take a coding or math class. You don’t have to become the next Steve Wozniak, just show that you have problem solving ability.
Capitalism is one harsh taskmaster. Prospective employers wade through resumes, winnowing the wheat from the chaff, leaving the chaff on the floor at Starbucks and Dick’s Sporting Goods—scrambling to make their student loan payments.
Notes
https://www.quora.com/What-is-the-general-IQ-of-university-students-Can-a-person-study-at-a-university-with-an-average-IQ/answer/Thomas-B-Walsh
https://www.quora.com/As-college-degrees-become-the-norm-they-no-longer-distinguish-potential-employees-What-does/answer/Thomas-B-Walsh
https://www.forbes.com/sites/richardvedder/2019/03/25/the-triple-college-crisis-crisis-3-too-few-good-jobs/#34843ba9169f
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