Value of University Degree Continues To Decline (www.cbc.ca)

BarbaraHudson writes: Following up from an earlier report from Statistics Canada (pdf), the Parliamentary Budget Officer warns that an increasing number of university graduates are overqualified for their jobs. The CBC reports: "Last year, 40 per cent of university graduates aged 25-34 were overqualified for their job. Five years ago, that percentage was only 36 per cent. In 1991, it hit a low of 32 per cent, or less than one out of every three university graduates. The problem is bigger than that, because those young workers spent money, time, and resources to get those qualifications.

Comments

Why Not Vocational?

[Frosty Piss]

"Everyone" says you'll go nowhere without a college degree. But guess what? This is neither what many kids want nor society needs.

Vocational schools need to amp up the sales pitch. Machinists of the Tools and Die variety make 40$ and 50$ an hour, and that ain't bad.

Some people just are not interested in the 4 year menu.

Back in the old days

[Dunbal]

University graduates were rare. There were far fewer universities and university places. Thus the intrinsic value of having a degree was higher, all other things being equal. And the difference in education between someone who had finished university and someone who had not was readily apparent. Nowadays the lines have become blurred. The sheer volume of graduates means that you are competing against many people who have exactly the same educational qualifications as you, whereas before it was a distinct advantage.

A degree is no longer a guarantee of a decent job in your field. In fact nowadays a Bachelor's is almost a minimum requirement for many jobs. On the other hand, NOT having a degree can be a disadvantage. It's up to the individual to weigh themselves carefully and judge whether the time and effort and debt required to receive higher education are worth it. A brilliant person will shine through even when covered in mud, and you can polish a turd as much as you want but it will remain a turd. So are you brilliant, or a turd? This should influence your decision.

Re: Back in the old days

[Dunbal]

Universities have been dumbed down

This I fully agree with. I've seen graduates who can't do basic arithmetic without a calculator much less the ability to apply their knowledge to a situation they have not specifically encountered before. I think it's because students are taught to pass tests instead of taught actual practical and applied knowledge.

Then why all the Temporary foreign workers?

[Anonymous Coward]

If so many people are overqualified, then why all the complaints about not being able to find qualified workers and why all the foreign workers in both Canada and the US.

It couldn't be because of the crappy wages being offered, could it?

This

[NotQuiteReal]

In the context of the article, it seems to me "overqualified" means - you bought an education which you cannot use / do not need for your work.

E.g. having a university degree is "overqualified" for a barista job. Sadly, there are many (usually non STEM) degrees for which there is literally zero demand by employers. Where are the counselors on the front end of the university acceptance process? Hmm, seems like they just take students for the good of the school, not the needs of the student, or society.

Re:This

[gstoddart]

E.g. having a university degree is "overqualified" for a barista job.

Well, part of the problem is the economy has been changing.

Employment trends have been losing full-time jobs, and people have been moving to more and more part time jobs.

Because companies are downsizing and offshoring, and generally not hiring people with skills any more.

Essentially since 2008, economies have been cannibalizing themselves, and more and more jobs are getting crappier and crappier.

So, ask yourself why those people are working as baristas ... the answer is MBAs and CEOs have been carving the jobs out of the economy to turn it into "shareholder value" and "cost savings".

This has nothing to do with university acceptance policies, and everything to do with globalization gutting jobs and leaving very little skilled work domestically. Because we've been following the idiotic policies of cutting corporate taxes in the hopes they'll create jobs, and not tying to cuts to actually driving the economy instead of gutting it.

And the jobs which do exist are being driven down in value to 'temporary foreign workers'. We've given corporations everything they want, and in return they've fucked all of us.

Welcome to the New Fucking World Order, bitches. It's all downhill from here.

Re:This

[PopeRatzo]

In the context of the article, it seems to me "overqualified" means - you bought an education which you cannot use / do not need for your work.

Or, it can mean that the only jobs available for most college grads are shitty jobs.

How in the world do you use the percentage of students who are overqualified for their first job as a measure of the value of an education instead of as a critique of the corporate workplace?

Re:This

[NotQuiteReal]

How many of these degrees look like they will lead to a job? To be sure there are many, that are good degrees, and if it weren't considered a microagression to point it out, most sane people can also point out those degrees that one should probably not go into debt to acquire. Or certainly not complain about it if that is one's choice.

Re:This

[Tablizer]

There are more journalism graduates per year than there are journalism jobs in the totality of the profession.

But journalists have skills that can be used in other areas, such as HR (interviews); research, such as marketing or competitive research; and business writing. Just because you don't get your target profession doesn't mean you can't use any of your major.

The value isn't declining

[rsilvergun]

the job market is. Outsourcing + H1-Bs (insourcing? idk...) means it's hard to get a job in your field and you settle for something that pays less. This is what happens when countries swing so far right they stop protecting their working class.

Re:Reading between the lines here...

[mark-t]

No.

Overqualified typically means ones technical training and qualifications would rightfully be deserving of higher pay than the employer wants to spend.

Blame H1-B's?

[kheldan]

Maybe if asshole business people weren't importing cheap labor from overseas and hiring our own citizens for a living wage, we wouldn't have this problem. Subsequently we also wouldn't have the problem down the road of 'not having qualified applicants', which is their lame-ass excuse for importing cheap-ass labor from overseas on H1-B's in the first place! MEMO TO CORPORATE AMERICA: Stop shitting on our citizens!