4.0
Will College Pay Off?
ByPublisher Description
The decision of whether to go to college, or where, is hampered by poor information and inadequate understanding of the financial risk involved.
Adding to the confusion, the same degree can cost dramatically different amounts for different people. A barrage of advertising offers new degrees designed to lead to specific jobs, but we see no information on whether graduates ever get those jobs. Mix in a frenzied applications process, and pressure from politicians for "relevant" programs, and there is an urgent need to separate myth from reality.
Peter Cappelli, an acclaimed expert in employment trends, the workforce, and education, provides hard evidence that counters conventional wisdom and helps us make cost-effective choices. Among the issues Cappelli analyzes are:
What is the real link between a college degree and a job that enables you to pay off the cost of college, especially in a market that is in constant change?
Why it may be a mistake to pursue degrees that will land you the hottest jobs because what is hot today is unlikely to be so by the time you graduate.
Why the most expensive colleges may actually be the cheapest because of their ability to graduate students on time.
How parents and students can find out what different colleges actually deliver to students and whether it is something that employers really want.
College is the biggest expense for many families, larger even than the cost of the family home, and one that can bankrupt students and their parents if it works out poorly. Peter Cappelli offers vital insight for parents and students to make decisions that both make sense financially and provide the foundation that will help students make their way in the world.
Adding to the confusion, the same degree can cost dramatically different amounts for different people. A barrage of advertising offers new degrees designed to lead to specific jobs, but we see no information on whether graduates ever get those jobs. Mix in a frenzied applications process, and pressure from politicians for "relevant" programs, and there is an urgent need to separate myth from reality.
Peter Cappelli, an acclaimed expert in employment trends, the workforce, and education, provides hard evidence that counters conventional wisdom and helps us make cost-effective choices. Among the issues Cappelli analyzes are:
What is the real link between a college degree and a job that enables you to pay off the cost of college, especially in a market that is in constant change?
Why it may be a mistake to pursue degrees that will land you the hottest jobs because what is hot today is unlikely to be so by the time you graduate.
Why the most expensive colleges may actually be the cheapest because of their ability to graduate students on time.
How parents and students can find out what different colleges actually deliver to students and whether it is something that employers really want.
College is the biggest expense for many families, larger even than the cost of the family home, and one that can bankrupt students and their parents if it works out poorly. Peter Cappelli offers vital insight for parents and students to make decisions that both make sense financially and provide the foundation that will help students make their way in the world.
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Meet readers like you in the Fable For You feed, designed to build bookish communitiesWill College Pay Off? Reviews
4.0
““A career is a marathon, not a sprint.”
The cost of college has been a point of debate for a couple of decades. It is true that tuition at colleges have increased significantly over the past twenty or thirty years. Though some are worried, the response has been the same: college is worth the investment. The narrative is part of American culture: you finish high school, you go to college, you work hard, and you leave college with great job opportunities ahead of you.
Well, things are not as clear as they used to be. The great recession combined with increased globalization and rising costs, the idea that a college degree is a solid investment has become shaky.
Is college worth it?
The simple answer: Yes.
The not-so-simple answer: Yes, but it’s difficult to understand.
When you look at all the measurements, many which are presented in Will College Pay Off?, there is no clear cut answer. Let’s look at the job market. You can go online right now and search for the hottest majors in the United States. These lists can guide you to the most profitable careers right now. But what about in four years? Or five years (which is more common for college student)? Employers will always grumble and complain about the scarcity of a qualified work force, but even they lack the foresight to know what the future holds. If employers knew the future, then they manage their own educational programs – except for the fact that it is too expensive for them too run.
Furthermore, there is little correlation between grades and performance, so why would a company do the work to train you. In fact, many companies (especially banks and investing firms) will not hire college grads until they have worked for a rival company for a couple of years. This way the rival company does all the training. This, of course, leads to the problem of entry level workers trying to find years of experience.
Though this is a solid work, I have read better works on the issue of higher education costs. The author skillfully expands on solid arguments for and against colleges. I definitely liked the book, it just doesn’t sit on the top of my list of recommended readings.”
“Very informative!”
About Peter Cappelli
Peter Cappelli is the George W. Taylor Professor of Management at The Wharton School and director of Wharton's Center for Human Resources. A research associate at the National Bureau of Economic Research, he has long been involved in federal government policy-making regarding the workforce and education. He was also co-director of the US Department of Education's National Center on the Educational Quality of the Workforce, and a member of the Executive Committee of the US Department of Education's National Center on Post-Secondary Improvement at Stanford University.
Other books by Peter Cappelli
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