By The Numbers

Over the past couple of weeks, I have been gathering information on work experience and college degrees. The broad information helps me gather all background knowledge. With these facts, I can get a basis for the nature of the debate and answer some learning goals. To put the subject into perspective a recent study from knod Global Learning Network compares the numbers of hours dedicated to a degree. 1,800 hours is the average time a student spends in college classes for a 120-credit bachelor’s degree. By comparison in the 1,800 hours, an individual could work eight hours a day for almost a year, create nearly three mobile apps, and read the entire 42 works of Shakespeare twice. The intriguing data reveals the true numbers behind both routes. Overall my research has been evaluating the factors that can determine what employers look for in employees. I have found information on company policy and reputation. I have also found research on the cost of college and the jobs that do not require a degree

Experience Versus Education

Company Policy

Some companies may allow you to substitute experience for a college education, but others have a tougher policy, requiring a college degree, no exceptions. Therefore, a person with immense experience and a first-hand knowledge of the company may apply for an internal position, but another person who has recently graduated from college with no experience may get the job. Additionally, specific industries, like education and healthcare, require education to qualify for necessary certification.

The Resume

The details of one’s college degree build a reputation. For instance the article “Experience Or Education” explains a degree from a higher level school that specializes in the selected field will produce many opportunities due to the prestigious reputation; a college degree in a lower level school has little reputation and will have a much lesser advantage. Obtaining a degree while maintaining a full-time job shows the individual is a hard worker. The well-developed reputation means one is dedicated and understands sacrifice. These strong qualities is a reputation that can be used to one’s advantage in a job interview.

As far as experience goes, reputation is also a factor: those who clock 40 hours a week for 15 years have not exceeded any expectation. Instead, employers are looking for people who stepped out of the norm and contributed to breaking limits in the company. Another advantageous factor is evidence of innovation, promotion and bringing in new business. Awards can also attract respect from employers. Therefore, exceeding the limits and building a reputation is valued in education and experience fields.

The Money

In 2017 the Department of Labor found employees with a college degree earned a median of $1,173 on a weekly basis, while those with only a high school diploma made a median of about $712. They also reported that the unemployment rate is 2.5% for workers with a bachelor’s degree or higher. However, the rate is 4.6% regarding those with no higher level education than high school.

These numbers clearly show the money benefits of a college degree. However, they do not take into account the cost of getting there. College debt is rising with each passing year. As a result, college graduates are struggling to pay their daunting student loans. Therefore college may not be the most affordable path for certain people. Students must consider a college’s reputation, financial aid, and long-term benefits before committing.

Is the Money Worth the Outcome?

In the past few years, many have noticed that the cost of college may not be worth the outcome. The years of immense debt make young minds think of alternatives. As a result, the in-depth article has found many students have begun investing their student funds to grow more money rather than pouring out the account into a college education.

The alternatives

Many people have not explored the career field that does not require a college degree. Contrary to popular belief, there are many of these careers out there. However, fresh students have their mind focused on the status quote and feel pressured to go to college. In reality, according to the article “Financial Careers Without A College Degree”, career positions such as enrolled agent, financial advisor, loan officer, insurance underwriter, accounting, and many construction positions do not require a college degree. Entrepreneurs are another category that many can thrive in without a college education. For example, Bill Gates and Steve Jobs both dropped out of college without completing a degree. Their companies have been mentioned around the world. Their reputations are strong and their work ethic is incredible. Work ethic is a factor I will be examining in my next post.

The Next Step

This week I began finding some specific descriptions of education versus work experience. I want to continue background research in the next few weeks, but I am also going to start a specific analysis. For instance, I talked to one college student who said that her mother had gone to a four-year university and obtained a degree in computer sciences. She worked in a computer company for a while but the company began to decline as well as the job position. As a result, the woman had to switch jobs. However, changing jobs was not very difficult for the woman. Because of her broad degree in computers, she was able to find another great job fast with better pay and insurance. In total, the woman is a great example of the benefits of a college degree. She had to switch jobs but her degree gave her room to move and a solid background for a new job.

On the other hand, I spoke briefly with a superintendent at Pauley Construction in Brighton, Colorado. The large company specializes in underground utilities. He said they hire laborers typically at $17 an hour. These are people with little to no experience in the construction field. However, if someone has anywhere from 5-10 years of experience in the construction field their pay instantly increase. These starting wages range from $20-$24 per hour. Also, workers with experience operating heavy equipment will start at even higher wages and could be offered a salary based position.

These two fields are very different yet have excellent examples of work experience versus a college degree. Over the next few weeks, I will begin interviews and in-depth research on specific work areas including business, technology, construction, etc. I will also touch on the education-based fields such as teaching and medicine.