3 ms·

> And this wealth inequality is mostly caused by people making dumb choices. Like getting a college degree that doesn't give you any marketable skills. People

> And this wealth inequality is mostly caused by people making dumb choices. Like getting a college degree that doesn't give you any marketable skills. People with college degrees aren't the ones losing the wealth battle. Rather than looking around your circumstances, we should look at data [1]: Education Level Median wealth No high school diploma $20,780 High school diploma $73,890 Some college $89,280 College degree $308,800 [1] https://www.forbes.com/advisor/investing/average-net-worth/ https://www.forbes.com/advisor/investing/average-net-worth/

bufferoverflow 5y ago
Indeed a degree helps, but you will be surprised 1) how many people with the unmarketable degrees work in completely different fields, and would be much better off studying in that field from the beginning 2) how much more money certain majors make. Most doctors have a net worth over a million. Most art majors - not even close. If we want to improve the wealth inequality, we should start pushing young people to what society actually demands, not the "you can be whatever you want" nonsense.
- long_time_gone 5y ago
  > how many people with the unmarketable degrees work in completely different fields, and would be much better off studying in that field from the beginning There is no majors for people who get into high-paying jobs like "Sales" or "Real Estate Broker". I also know the most successful people in those industries tend to have college degrees. People with those interests can use their college experience to make themselves more well-rounded humans. They can build their networks and improve future earning potential. They can focus on other disciplines (writing, marketing, pre-law, etc.) to make them more successful in their chosen career. > how much more money certain majors make. It sounds like you were surprised when you saw your initial example of a "dumb choice" major, Gender Studies, had an average wage over $80k; which is more than double the national median. Your second example International Relations, has an average wage of $97k [2]. Maybe it is your frame of reference that needs change rather than other people's major choices. [1] https://datausa.io/profile/cip/cultural-gender-studies https://datausa.io/profile/cip/cultural-gender-studies [2] https://datausa.io/profile/cip/international-relations-affairs https://datausa.io/profile/cip/international-relations-affai...
cellis 5y ago
This is likely time biased. Future generations will not be so skewed towards those with degrees, in fact, it may revert slightly, as crushing student debt isn't rewarded for holders of worthless degrees. This should be a self correcting problem in the long term. Eventually society decides to punish those who aren't producing things it wants.
- long_time_gone 5y ago
  Any data that support these theories would be much appreciated. Thanks.
- nicholasnorris 5y ago
  I feel like the logic of this solution doesn't exactly lead to a rosy conclusion. If everyone is sorted into a narrow range of Professional and STEM degrees, wouldn't this just lead to lowering of wages for degree holders in those fields to something marginally above unskilled labor, while giving the business class that have taken ahold of most institutions a greater excuse to keep more of the profit for themselves?

bufferoverflow 5y ago

Indeed a degree helps, but you will be surprised 1) how many people with the unmarketable degrees work in completely different fields, and would be much better off studying in that field from the beginning 2) how much more money certain majors make. Most doctors have a net worth over a million. Most art majors - not even close. If we want to improve the wealth inequality, we should start pushing young people to what society actually demands, not the "you can be whatever you want" nonsense.

long_time_gone 5y ago
> how many people with the unmarketable degrees work in completely different fields, and would be much better off studying in that field from the beginning There is no majors for people who get into high-paying jobs like "Sales" or "Real Estate Broker". I also know the most successful people in those industries tend to have college degrees. People with those interests can use their college experience to make themselves more well-rounded humans. They can build their networks and improve future earning potential. They can focus on other disciplines (writing, marketing, pre-law, etc.) to make them more successful in their chosen career. > how much more money certain majors make. It sounds like you were surprised when you saw your initial example of a "dumb choice" major, Gender Studies, had an average wage over $80k; which is more than double the national median. Your second example International Relations, has an average wage of $97k [2]. Maybe it is your frame of reference that needs change rather than other people's major choices. [1] https://datausa.io/profile/cip/cultural-gender-studies https://datausa.io/profile/cip/cultural-gender-studies [2] https://datausa.io/profile/cip/international-relations-affairs https://datausa.io/profile/cip/international-relations-affai...

cellis 5y ago

This is likely time biased. Future generations will not be so skewed towards those with degrees, in fact, it may revert slightly, as crushing student debt isn't rewarded for holders of worthless degrees. This should be a self correcting problem in the long term. Eventually society decides to punish those who aren't producing things it wants.

long_time_gone 5y ago
Any data that support these theories would be much appreciated. Thanks.
nicholasnorris 5y ago
I feel like the logic of this solution doesn't exactly lead to a rosy conclusion. If everyone is sorted into a narrow range of Professional and STEM degrees, wouldn't this just lead to lowering of wages for degree holders in those fields to something marginally above unskilled labor, while giving the business class that have taken ahold of most institutions a greater excuse to keep more of the profit for themselves?