These are all valid questions and concerns.  As an advocate for students, the CWR wanted to provide our readers with some answers to these questions.  So we contacted did some research with the Bureau of Labor Statistics, and also we interviewed representatives from two major organizations that work with colleges and employers.

 

We interviewed Ms. Mimi Collins, Director of Communications for the National Association of Colleges and Employees (NACE), which works to facilitate the employment of the college educated.  The bulk of their membership is made up of people who are either college career service professionals, and recruiters in organizations that have a focus on college recruiting and bringing in new college graduates as a part of their workforce.

 

We also interviewed Mr. Jason Kiker, Educational Research Analyst with the Association for Career and Technical Edcation (ACTE).  Mr. Kiker says ACTE is the national level education association dedicated to the advancement of education that prepares youth and adults for careers.  Their membership is made up mainly of secondary teachers, administrators, and post secondary teachers and administrators from community colleges and technical colleges.

 

It is a fact that college tuition has significantly increased, so, in relation to opportunities and salaries for college graduates, is the cost to benefit ratio still in favor of the graduate?  We asked both Ms. Collins and Mr. Kiker about this.

 

"The government data shows that the more education you have the better off you are over the lifetime of your career.  Your unemployment rate is going to be lower, and you are going to make more money," according to Ms. Collins.

 

What do the statistics reveal about the value of a college degree.  Mr. Kiker citing statistics from the U.S. Census Bureau and the Bureau of Labor Statistics says, "If  you look at someone who drops out of high school, their average salary per year is under $25,000.  Someone who just has an associate degree, someone who has a 2-year degree, a technical degree; their average annual earnings are $41,000.  A $16,000 difference for graduating high school and for getting a 2-year degree of some sort.  If you continue on and get a bachelor's degree, which many career and technical education students do, it goes up to $51,000."

 

So from an earnings standpoint, based on the most current data, looking at the big picture, college graduates still fare better than those who do not have a degree. 

 

But there is another important aspect of this conversation, and that is the unemployment rate as it relates to college graduates, and those without a college degree.  A major concern of some college students in view of all of the jobs that have recently been lost, is what the landscape will look like one to four years from now and beyond, when many of them graduate.  The workforce has just been infused with a massive number of qualified, experienced, college graduates.  What impact will this have on future college graduates?

 

According to Ms. Collins, based on their data and research college graduates should still be in a very good position to successfully compete for career positions.  "In terms of employment rate we do a student survey each year through our college members.  And it's  representational obviously, it's not every college student.  But we do get a sense of how many students have had a job offer before they have graduated and what not.  And we also survey our members, the college people, and ask them, because they typically will survey, do like a first destination survey.  Fairly consistently, and these are not hard and fast numbers, I am just giving you the general statistics, what we have seen fairly consistently is that within six months of graduation most students have either gotten a job, or decided that they are going on for graduate school, or in the case of a 2-year college graduate, they are going on for their Bachelor's degree."

 

It should be noted that as bad as the economy is, and it is in a very dire condition, there are still jobs and there are still companies hiring.  The job of working to get a job just becomes more difficult, but not impossible.  So students who will soon be entering the workforce should still be able to succeed in starting their careers; it may take longer, and it will be more difficult.

 

Let us take another look from a statistical vantage point at the unemployment rate of college graduates versus those without a college degree.  Citing the same aforementioned sources, Mr. Kiker states, "Someone who drops out of high school is going to be unemployed at about a 7% rate.  Seven percent of those people will be unemployed.  Just around the national average, a fairly high and significant number.  If you look at someone who graduates from high school and goes on to get an associate's degree, that unemployment rate drops to 3.0%.  So you're talking more than twice as likely to be employed, by just having an associate's degree.  With a bachelor's degree it drops to 2.3%.  So, the idea that the value of a college degree, whether 2-year, or 4-year, or beyond that is decreasing, is just by the numbers alone, by salary and whether or not you're unemployed, shows that there is exceptional value to having an associate's degree and a bachelor's degree and beyond that."

 

Obviously there are some challenges for graduates on the road ahead.  But based on the available data, it appears that even with the rising cost of a college education, college graduates should fare better than those without a college degree.  I am sure someone is reading this and saying how much they earn without a college degree, or they may know someone who is doing well without a college degree.  There are always exceptions, and the statistics show that those people are the exception, rather than the rule.

 

Also, consider this, if you have been successful, or know someone you consider successful who does not have a college degree.  If for some reason they lose their job, is it reasonable to think in today's economy they will be able to find employment equivalent to the position and salary they now enjoy, without a college degree.  Not very likely, because the times and the rules have changed.

 

Commenting on the increased importance of a college degree as the economy tightens, Mr. Kiker offered these thoughts:  "I was looking through an article and they were talking about how you sort of identify whose going to be a good worker.  And, they are talking in general saying most places will look at an education as the beginning point...all of them sort of said, if you don't have a college degree of some sort, you're not even going to get that first interview.  It's going to be used as a gatekeeper.  I think that's going to become more relevant now because you're going to see more and more businesses and industries sort of say I would rather have someone who I at least know has gone through this level,...we'll hopefully find someone who has the skills and we will only have to train them on specific job related skills, more than having to then train them how to make sure they understand what they are reading, understand the mathematics behind what they are doing, how to work on a team, how to lead a team, how to be given a project and look at it from all angles and understand, OK, these are the five things I am going to need to do before I even start the main project, because I have to have a solid foundation of research and understanding what's going on.  And those are skills that are taught to you within a 2-year degree, a 4-year degree, or beyond that."

 

What Mr. Kiker alludes to is the probability that jobs that are now available to some who do not have college degrees will now be upgraded to require a college degree, because employers will change their requirements and prefer employees who are prepared to do more, from the first day, with little or no training.  And this usually comes with college preparation.

 

We want our readers to be prepared to get out in front of what may be potential obstacles, so we asked Ms. Collins what advice she has for college students preparing for their future careers, and those who will soon be graduating and entering the workforce:  "While you are in college you are in a unique situation in that in most cases you are going to have access to expert advice and assistance in conducting a job search.  And that's through your campus career center.  Number one, there are employers that are hiring, and they can help you figure out who is hiring.  They can also figure out, for some students, that they may have to change their focus.  For example, if you were considering a career in finance, and you thought you were going to work on Wall Street, chances are you are going to have to broaden that search beyond Wall Street.  A career center can help you get started and can guide you along the way, they also can do a lot of very practical things:  help you develop a resume, critique your resume, help you with your interviewing skills, many career centers will have mock interview programs.  So once you get out of college you can't always contact the career center at your alma mater.  I am not saying you can't.  But generally if people need career advice or career assistance once they are out of college, they are often on their own, or they have to pay a career counselor to help them.  So while you are in college you have access to that campus career center."

 

We have attempted to present the facts in this article, which are, according to available statistics from the U.S. Census Department and the U.S. Bureau of Labor Statistics, college graduates earn more, significantly more than those without a college degree; college graduates have a significantly lower unemployment rate than those without a college degree; and indications are that employers will become more selective in the near future, preferring to hire those with college degrees.

 

Another very important point we want to make, following on the advice offered by Ms. Collins, who emphasized the use of your campus career center, is to really work closely with career center staff.  If they see that you are determined and sincere, they will help you.  So, now more than ever use all of the resources available through your campus career center, and be unrelenting until you get what you need from them.

 

Also, you will find much of the information and advice you need free of charge in The College World Reporter in our monthly career advice section, the CWR Career Zone, with our career expert, Ms. Terry Pile.

 

A college degree does still have value, it still counts, but what students need to understand is that it is of paramount importance to study hard, study smart, attend class prepared, make good grades, and participate in internships or co-op programs, and do all of the things that make you stand out from the crowd.  You must acquire the ability to present yourself more effectively to potential employers than your competition.  It will not be enough just to have a college degree.