Charles Edison

"Economics, politics, and personalities are often inseparable." - Charles Edison

Wednesday, February 1, 2012

A Really Simple Theory

Breaking News: Intelligent people will work in fields that promise higher wages.

The increasing number of post-grads entering fields like finance, equity, mgmt., and similar careers is one of the many problems the United States is facing. Jobs will not be created by lawyers, or through financing and leasing. We see consistent growth rates in our economy, yet lack the manufacturing to back it up. Fortune 500 companies are investing more into financial expansion over industrial expansion, eventually accumulating into a generation of managers and money-pushers without the potential to manufacture. The Steve Jobs age of investing, when businesses would continually invest into "the next big thing," is over. Knowledge & service careers will not stimulate growth, and a surplus of MBA degree holders means the demand for those workers will decrease. Still, this is a realistic take on the situation: entrepreneurship is truly difficult, and paying off student loans is a priority for many. Those that become engineers and mathematicians are passionate about their college courses, but the bright students with no concrete goal for the upcoming years will generally pursue a job that can immediately provide a steady income. What really surprises me is the number of students that decide to pursue careers in law or finance when the job market for these positions is incredibly narrow. "Consulting" careers are not an immediate hire, either, as I doubt an aging business executive wants to take advice from some newly graduated punk who had a Philosophy professor who "totally opened their mind last spring." It's borderline foolish to pursue high tuition rates and self-destructive student loans when there's a slim chance of securing a job.


Smith said...

A riveting and enthralling read. Are you advocating no college education or trade school? You throw out several scenarios/questions but what is your solution?

Alex D. said...

I will never be an opponent of seeking higher education. I never meant to blindly cast out the scenarios I brought up as being unviable: I’m just encouraging personalized career choices. It’s a confounding situation, you know? These days you’re expected to go to college, or at least a vocational school, but one’s expectations conflict with fears of student loans. Rather than all pursue financial management positions for the immediate return, maybe just tough it out in hopes of realizing your passion. My point of view may be biased perspective since I am a privileged young man, but I find the whole idea of “selling out” and working for wages over dreams and desires to be unreasonable. The human potential is out there: if you really want to be a doctor, and you’re confident that your knowledge can carry you to success, then to hell with it, take a loan out. If you want to be a mechanic, don’t go studying philosophy because you once read “Zen and the Art of Motorcycle Maintenance.” I don’t have a solution, Mr. Smith. Everything I learn/read is still a new experience for me. It’s just puzzling to me that people would chose certain majors in college, like finance, when it’s pretty evident that there aren’t any more job openings for those fields.

“Life goes by pretty fast. If you don't stop and look around once in a while - and do whatever you want all the time - you can miss it.” –Eric Cartman

Peyton Moore said...

This is really interesting. I think that since our generation has grown up hearing about the economic struggles, students begin to think that they can't afford to do what they enjoy, and instead should go into a field that they think would bring in the money. So many students are looking into careers that will bring home the bacon, but chances are you aren't going to last in college working for a degree that doesn't interest you. And the ones that do end up graduating,struggle at it because there isn't any passion or motivation in their career. I believe that there is a happy medium in all of this. Striving to be in a crappy boy band until your 30 isn't the smartest move obviously, but neither is wanting to be a multi-millionare doctor when you hate science and you're scared of blood. Students these days just need to find there niche so they can be happy doing what they want while supporting themselves. I think everyone has that one thing, and if you pursue it you will be the best off.