ABC 20/20: Bachelors Degrees May Not Be Worth the Money???

[mongoose65]

My cynical side thinks it's all a fear based scam. Some chump paid a bundle for their degree so they want everyone else to pay a bundle. I have no degree (yet) but have consistently managed people with Master's degrees throughout my work history. Degrees are necessary for specialized positions, period and only because of systemic institutionalization. Lawyers didn't always need law school. Why should someone who can pass the bar need to drop $100k to waste 3 years doing core curriculum and "information literacy?" Core curriculum is the dumbest money scam ever, forcing people to pay for courses that are not at all relevant to a career.

As someone said here perfectly, "it's a ticket to the dance." I need it because some brainiac in HR wrote into the hiring policy manual that a BS is the minimum requirement. I've seen them keep resumes with typos and grant interviews to schmoes who couldn't fashion a sentence and pass over more qualified professionals because they only had 2 years of school.

Am I bitter, yes a little. That's why I love this forum. I will be getting my degree in 8 months total for approx. $2500 bucks. Finally a little fairness.

Best to everyone.

[candothis]

My cynical side thinks it's all a fear based scam. Some chump paid a bundle for their degree so they want everyone else to pay a bundle. I have no degree (yet) but have consistently managed people with Master's degrees throughout my work history. Degrees are necessary for specialized positions, period and only because of systemic institutionalization. Lawyers didn't always need law school. Why should someone who can pass the bar need to drop $100k to waste 3 years doing core curriculum and "information literacy?" Core curriculum is the dumbest money scam ever, forcing people to pay for courses that are not at all relevant to a career.

As someone said here perfectly, "it's a ticket to the dance." I need it because some brainiac in HR wrote into the hiring policy manual that a BS is the minimum requirement. I've seen them keep resumes with typos and grant interviews to schmoes who couldn't fashion a sentence and pass over more qualified professionals because they only had 2 years of school.

Am I bitter, yes a little. That's why I love this forum. I will be getting my degree in 8 months total for approx. $2500 bucks. Finally a little fairness.

Best to everyone.

Bravo- nicely put!!

[Lindagerr]

We live in a small town and the place she works is a family run cafe. She is very friendly with the customers, but I have known her since she was about 12 and I don't really think she is much different. It was probably her parents idea for college, I think she couldn't find a well paying job with just that degree and this place was comfortable. I don't think she ever planned on staying this long.

[bobaloo000]

My story is similiar to Lindagerr.

I have been working in the Financial industry without a degree since 1985. I have moved up the ladder in those years and I am now a seasoned executive. Two years ago I decided it was time for me to move on when I made a shocking discovery. The resume filters employed by companies were discarding my resume because I did not have a degree. In the past the experience on my resume always got me into the door and the face to face interview would seal the deal, now I could no longer get past that first step.

Even though I was more than qualified for these positions I was applying for, and I am recognized as an expert in my field (I speak at conferences, sit on industry boards, publish articles in trade magazines), it was all for naught. No degree, no interview. Heck, I doubt anyone even read the resume and cover letters I was sending.

So my feeling is that, yes a degree is worth getting. However, you can get a degree without going into debt.

btw - The first poster on this board stated that billionares with degrees skew the results. Don't billionares without degrees (Bill Gates, Michael Dell to name two) balance that out? I don't agree with the numbers either, but don't blame the super rich. Leave that for our new president.

[Sharkfin]

I have been working in the Financial industry without a degree since 1985. I have moved up the ladder in those years and I am now a seasoned executive. Two years ago I decided it was time for me to move on when I made a shocking discovery. The resume filters employed by companies were discarding my resume because I did not have a degree. In the past the experience on my resume always got me into the door and the face to face interview would seal the deal, now I could no longer get past that first step.

Exactly. While it used to be the case that a person could make their way up with no more than a high school diploma, this is simply not the case anymore, even more so for younger people who are just starting out. I don't think any reports claiming degrees are not worth it take this into account. They are probably looking at people that have been working for decades and never got a degree. Results would be much different for people trying this now out of high school.

[zeroglory]

Sometimes, people with degrees do not pursue the opportunities that the degree gives them. You can't stay in Pleasant Valley, USA and expect to automatically get paid 100,000 dollars, sometimes you have to be willing to move to XYZ City for your career. I'm not saying money is everything, sometimes you may choose location over salary. Just trying to illustrate that just because you personally arent making xx amount of money with your degree, doesn't mean that you couldn't use that degree to make that money somewhere.

[ClepGirl]

I am a corporate recruiter at a major healthcare company. In the past we would look at resumes with a degree or equivalent experience. However, the rules have changed and a degree is an absolute must for professional level positions. There was a contractor that worked for the company for about two years, with 20 years of relevant experience. The hiring manager wanted to convert her to full time status and I was going to extend her an offer on behalf of the manager however, the HR Director put a stop to it because she did not have a degree! It is a shame because we lost out on a great candidate because she did not have her degree. The manager went with another candidate with less years of experience but they had their degree. So I have to say a degree does matter.

Another trend I am starting to see in recruiting is a BA/BS is not good enough they prefer candidates to have master degrees.