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.