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Reconsidering Attending College.
#11

Reconsidering Attending College.

I'd like to add a bit more depth to what you're seeing in this thread.

"Should I go to college" isn't a flat answer. The question is do you know what you want to do, and what is the best level of school (Ivy League, top 30, etc) that you can get into.

Everyone on here knows that your earning potential can vary widely by degree. What they don't mention is much is that even for the same degree, the profitability can vary widely by region. People with a generic business degree from Wharton at UPenn are going to do very well, while people with a business degree from a B-grade state college are probably going to find themselves in an "Assistant manager" job with that four your degree...that they easily could have attained after busting their ass for a year from entry level.

Do the following, in this order, before you decide


Identify potential fields that you are interested in studying. If you don't have a concrete interest that is OK. There a number of degrees(such as finance and engineering) that have a high level of career flexibility and also teach you key skills that you would need to start your own business(e.g., if you later learn plumbing and start your own firm it will be much easier if you can do basic managerial accounting).

Once you've done that identify schools in those field and gauge what league of school you can get into. Can you get into a top 10? A top 30? Your own marketability is a key factor. Identify it both on paper and by subjectively gauging your soft skills and resume. It can also help if you get in touch with people who have experience in admissions who can give you some more in depth feedback.

Next step, and most important: Pick out some stretch, intermediate, and "safe" schools. You are going to do some digging. Begin by going onto each schools career services page. You're looking for placement information. You want to find out how many of their graduates get jobs after graduation, examples of hiring companies, and the average salary for students in your field. I also recommend talking to their career services office before even implying and seeing what information you can get out of them. Researching industry-specific discussion boards can also be helpful.


After that you need to conduct your own cost-benefit analysis. Is getting a degree in a certain field worth the investment you make? Your data will give you the answer. For example let's compare two major state schools(at the MBA level, because that's what I know). CU Boulder's MBA students place with about 72% employment after 3 months, with an average salary of 75k. Marginal return on investment for the expense and time you put into it......you can do better even coming out of a technical job in the military. On the other hand the University of Wisconsin's MBA students place with an average salary of 96k(and that's just base) with 94% placed. Some of their specializations go over 110k base salary on average. Given a pay bump that significant, even paying for it completely out of pocket means you'll have cleared your debt in a few years.

Similar disparities exist between different undergraduate institutions, even of the same type. Engineering students from Georgia Tech or MIT typically enjoy very high salaries compared to engineering students from your city's local 4 year college.


You may find that your own competitiveness isn't enough to justify the payoff. If you still really want to go that route, I'd suggesting taking America's advice. You can boost your resume with strong work experience and in your off time take some classes(I suggest marketing or accounting) that will give you some hard, easily transferable business skills while simultaneously strengthening your academic resume.
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