we did a study that showed that going to a prestigious college , majoring in STEM, results in an average of $7K more a year in salary than those who went to the local University. It opened our eyes a bit in our hiring focus. We've hired people from Harvard, MIT, Cal Berkley and we've hired a bunch of kids from state schools. There is no discernible difference in their production or contributions.
In most cases, it cost more than $7k a semester in tuition alone to attend those colleges, so if you were getting a student loan, you were actually losing money as over time as your salary increases would balance out while you'd be paying less on student loan debt. The net result was more cash in your pocket going to Local U versus a prestigious school.
A 4 year STEM degree will pay in the range of $60-$85K a year on average right now, certainly there are outliers at both ends. I'm not focusing on anything other than STEM because who gives a phug what an Art degree pays.
That said, with that same 4 year investment, choosing the right trade you will be in that same salary range. I've been talking to my son about becoming a lineman but he doesn't seem motivated enough to do anything about it. He still wants to get a 4 year degree.
Whatever field a young man or woman chooses, they should make sure it can't be replaced by AI or robotics
I could start another thread on the admissions scam on prestigious colleges. Bottom line is our kids won't be getting into them anyways without an athletic scholarship.
Last edited by KFWA; 10/18/21.
