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Would this then force companies to pay according to what universities charge? How are those levels determined?
by brutal_chaos_ 5y ago
Would this then force companies to pay according to what universities charge? How are those levels determined?
- yumraj 5y agoThose are determined by demand and supply. Why does a society want to produce experts in fields where there is no value. Note, many/most people in software engineering have other interests. But they have not made a career out if it. So, if humanities interests someone, it can be a perfectly good hobby for many, till demand and supply evens up that leads to rise in salaries.
- lumost 5y ago“value” is ambiguous. Prices are set via supply and demand. In this case we see that students gravitate to certain manors more than others, and may not take into account future job demand. Many students may be following a lottery ticket model of buying the best education simply for a chance to participate in a particular job market. If student preferences were different we could easily be bemoaning low value engineering majors, doctors or lawyers. If student preferences are disconnected from long term utility then it's unlikely for University costs to normalize on utility. Increasing the costs for high utility majors would result in yet higher prices for those with the majors skills - decreasing prices for low utility majors will simply lower income potential in those majors.