For MBA it depends on where you study
MBA's also have a much wider variance on costs, so return per dollar spent may also be similar between good/expensive and bad/cheap schools.
ROI on a college degree depends what you study, not where
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Re: ROI on a college degree depends what you study, not where
#12On one hand it is nice to see that the school doesn't matter as much as people think but on the other hand it is sad that people see their studies only through the eyes of ROI. As if education has no value of its own. I'm probably just naive and an idealist.
Re: ROI on a college degree depends what you study, not where
#13This "article" is barely two paragraphs, and doesn't have any new information. There's a reason Art History majors working as baristas is a well worn cliche.
Re: ROI on a college degree depends what you study, not where
#14I find it disheartening that the only way it seems we can think about college anymore is a sort of vocational school where we train for careers.
That is a side effect of the cost. In-state public university costs are up 296% over the last 20 years[1]. It is no surprise that a family spending that much money, per child, will consider the return on that spending. It is far more than a typical car and more in the realm of buying a home.
[1] http://www.usnews.com/education/best-colleges/paying-for-col...
Re: ROI on a college degree depends what you study, not where
#15I find it disheartening that the only way it seems we can think about college anymore is a sort of vocational school where we train for careers.
When it costs upwards of $100,000 to attend, you better be thinking of what you're getting for your money. Unfortunately in America it doesn't come free.
Re: ROI on a college degree depends what you study, not where
#16This article is about statistics, not individuals. While it certainly shows trends, for any individual person, their ROI depends on what they do with their own lives. (And ROI might not even be their #1 goal.)
As for me, I got a degree in Fine Arts from a small liberal arts school, then become a coder. I have almost zero regret about that choice, 20+ years down the line. Actually, if I had to do it again, I am more likely to skip the coder part, not the college part. (20+ years behind a desk... I could probably find a better path.)
Re: ROI on a college degree depends what you study, not where
#17I find it disheartening that the only way it seems we can think about college anymore is a sort of vocational school where we train for careers.
When it costs upwards of $100,000 to attend, you better be thinking of what you're getting for your money. Unfortunately in America it doesn't come free.
nothing's "free", not even college in european utopia.
Re: ROI on a college degree depends what you study, not where
#18It also depends on how much your parents earn:
https://www.cam.ac.uk/research/news/graduate-earnings-what-y...
Re: ROI on a college degree depends what you study, not where
#19On one hand it is nice to see that the school doesn't matter as much as people think but on the other hand it is sad that people see their studies only through the eyes of ROI. As if education has no value of its own. I'm probably just naive and an idealist.
Meh, it isn't black and white where you see one or the other but not both. Ignoring the ROI factor and being ignorant of it is a risky business, reckless IMO and coming from someone who intrinsically loves to learn.
Re: ROI on a college degree depends what you study, not where
#20In addition to the obvious 0 line, it's worth taking the article's observation that S&P has returned 7.8% and mentally drawing a line there too. Also, for anyone in the position of deciding which to do, I'd add the observation that it is way easier to go to college and get a formal education in science, math, or engineering, and pursue an ongoing adhoc self-directed education in the arts and humanities in your remain…
The 7.8% line is to be taken with a grain of salt though. If you decide to invest all the theoretical college money and work without said education you'll (hopefully) still earn >0$.
It would have also helped if the article said what degree/how long it takes (BA, MA) and what the investment cost for the degree actually is (provide median or something). A typical BA takes 2 years and is in the ballpark of 50k$ on the lowish end (I heard that as a low end average for in-state public schools). Had I invested that fictional amount at 7.8% since universities are "free" here I'd have about 225k...yay