The new economics of college vs. trade school...or no school

This is something that people have been struggling with for awhile, but as this article from the New York Times says, the current economic crisis is putting it into sharp perspective: a lot of kids are being pushed to go to college when in fact it may not be the best choice for their future.

College degrees are simply not necessary for many jobs. Of the 30 jobs projected to grow at the fastest rate over the next decade in the United States, only seven typically require a bachelor’s degree, according to the Bureau of Labor Statistics.

Among the top 10 growing job categories, two require college degrees: accounting (a bachelor’s) and postsecondary teachers (a doctorate). But this growth is expected to be dwarfed by the need for registered nurses, home health aides, customer service representatives and store clerks. None of those jobs require a bachelor’s degree.

Professor Vedder likes to ask why 15 percent of mail carriers have bachelor’s degrees, according to a 1999 federal study.

“Some of them could have bought a house for what they spent on their education,” he said.

Read the article...

Even though I was someone who excelled in college, and even went to graduate school, I am in fact a strong proponent of the idea that college is unnecessary for a lot of people. I think this was brought home even more for me the year that I worked as a college teaching assistant. The push for four-year colleges is almost starting to feel like a racketeering job.

I think we in the U.S. need to move past the stigma of not having a college degree being equivalent to being a slacker or stupid or unmotivated. If anything, they are smarter for not automatically buying into the system, they are more motivated to start contributing to the workforce, and more goal-oriented than their college-bound counterparts who often view college as an extension of high school.

How women should ask for a raise

A couple of years ago I read the study that discussed how women who ask for raises are seen as pushy and it usually doesn't go so well as for men. So how do we not come off as pushy, but still receive equal pay, I thought. FINALLY someone has done a study to try and figure out the answer. From the New York Times:

The work by Ms. Riley Bowles and her peers suggests that women in the work force can use specific advice. Here are some of their suggestions:

BE PROACTIVE If you believe you deserve a raise, don’t sit around and wait for someone to notice. “A lot of women, and this is quite commonly found, think, ‘As long as I work really, really hard, someone will notice and they will pay me more,’ ” said Karen J. Pine, a psychology professor at the University of Hertfordshire in Britain and co-author of “Sheconomics” (Headline Publishing Group, 2009). But “people don’t come and notice.”

You also want to think about the best time to approach your boss. It may make sense to approach him or her after an annual performance review, said Evelyn F. Murphy, president of the WAGE Project, a nonprofit organization, who runs negotiation seminars for women. “Or, if you just took on a major responsibility or won an award.”

BE PREPARED Doing your research pays, literally. A study found that men and women who recently earned a master’s degree in business negotiated similar salaries when they had clear information about how much to ask for.

But in industries where salary standards were ambiguous, women accepted pay that was 10 percent lower, on average, than men. “In our experiments, we found that with ambiguous information, women set less ambitious goals,” said Ms. Riley Bowles, who ran the study. “They asked for less in a competitive negotiation and got less.”

That theory also holds in other areas where there aren’t set expectations, like executive bonuses and stock options. “You get bigger gender gaps in those less standard forms of pay,” she added.

Read more at the New York Times...