Monday, May 08, 2006

A Look At My Friends. Did College Pay Off?

So I've thought about this some more...does college pay? From my personal stand point, I definitely think it does. My friends that have a college degree are financially much better off than my friends that don't. Let me summarize some of what I see... Friend 1 4yr College Degree, spent 2 years at community college, 2 years at regular College cost: ~$10,000 BA Management Info Systems ~$65,000/yr Friend 2 4yr College Degree College cost: ~$60,000 BA Education ~$40,000/yr Friend 3 2yr Associates Degree College cost: ~$10,000 Graphics Design ~$12/hr (~$24,000/yr) Friend 4 No degree, attended some college College cost: ~$2,000 ~$9.00/hr Friend 5 4yr College Degree College cost: ~$10,000 BA Human Resources ~$70,000/yr Friend 6 4yr College Degree College cost: ~$10,000 BA Management Info Systems ~$55,000/yr Friend 7 4yr College Degree College cost: ~$10,000 BA Management Info Systems ~$45,000/yr Friend 8 4yr College Degree College cost: ~$10,000 BA Management Info Systems ~$70,000/yr Friend 9 4yr College Degree College cost: ~$60,000 BS Computer Science ~$90,000/yr You can clearly see that having a degree seems to have meant better jobs. Of course, my oberservations are skewed since most of my friends finished college...And most of them are from the same college! The kicker is, we're all satisfied with life...for the most part, the ones that are making more are often still dealing with the same money issues as those who are making less to some degree...no pun intended. Some related links: Don't get over-educated @ MightyBargainHunter.com. College - A Financial Decision That Changed My Life. Is College a Worthless Investment?

4 comments:

mapgirl said...

I think your sample set is also skewed to ppl in the tech industry. What about other ppl who were English majors? I know one that makes more than I do as a 4th yr associate because she also chose law school. Or my other atty friends who make 6-figures in NYC out of Harvard Law?

I could skew you quite a sample set. I know sales guys busting their ass to pull down $80K+ a yr without college. They're out there. College helps, but it sure isn't for everyone.

freedumb said...

Oh yeah, no doubt my sample is skewed...but it is what I observe out of my group of friends...

John said...

For the most part, It's statiscally shown that the more educated you are, the more money you make...
http://www.infoplease.com/ipa/A0883617.html

freedumb said...

John, great link...thanks for sharing. I wonder how the numbers look for 2002-2005.