A recent article says that graduates are now being recommended by graduate advisers to take jobs working in bars and stacking supermarket shelves! I graduated from university many years ago with a mathematical degree, and I was shocked at how little work was out there for graduates. Just a few weeks ago when I was on a lunch break with my work colleagues in a supermarket, a shelf stacker came up to me and asked me if my organization had any job vacancies. He then said he had a high degree and a Masters in business and administration! This is a common scenario that I am seeing repeated again and again. Here are places where I have personally met many extremely well educated university graduates working: Stacking supermarket shelves, on the unemployment line, working for the royal mail, low paid civil servants. I never thought it was possible for this to happen to graduates but the investment of their time and effort is no longer valued or rewarded like it once was.
If you take a degree it means at least 5 years of study (A-Levels + degree) and you end up likely to come out over 25k in debt! In contrast, if you got a "normal" job such as a bus driver, you could earn around 25k per year immediately. If you are studying, you cannot invest money while prices are cheaper, because prices usually rise over time (inflation). In the example of a bus driver he/she could have earned £125k in 5 years, but the graduate could be -£25k in debt. This puts the bus driver £150k in front! To add insult to injury the graduate may not even be able to find any job, and may spend more money on extra education such as Masters degree, and still not find a job. When the graduate enters the real world, they are encumbered by debt, and are too far behind to catch up the bus driver non-graduate in earnings and investments. (if the bus driver is a money seeker) It is for this reason that I do not believe that the majority of modern degrees are a good financial investment! As for the education benefits of a degree, its nothing you can't learn on the Internet, and I should know, because I have a degree. A few graduates do get lucky and find the occasional job that pays way over the average, but this number is limited, and it is never in any business owner's best financial interest to overpay their staff.
Elsewhere in the world, leading restaurants are doubling their profits, proving that the financial crisis is not affecting everyone. Money can still be made, even in these times.
House prices continue to fall, and I, along with other savvy investors are waiting in the wings until at least 2010 to snap up a cheap bargain. I can't imagine who would want to buy a house right now. Recent graduates probably won't be buying or investing at this time, because they can't afford to.
If you take a degree it means at least 5 years of study (A-Levels + degree) and you end up likely to come out over 25k in debt! In contrast, if you got a "normal" job such as a bus driver, you could earn around 25k per year immediately. If you are studying, you cannot invest money while prices are cheaper, because prices usually rise over time (inflation). In the example of a bus driver he/she could have earned £125k in 5 years, but the graduate could be -£25k in debt. This puts the bus driver £150k in front! To add insult to injury the graduate may not even be able to find any job, and may spend more money on extra education such as Masters degree, and still not find a job. When the graduate enters the real world, they are encumbered by debt, and are too far behind to catch up the bus driver non-graduate in earnings and investments. (if the bus driver is a money seeker) It is for this reason that I do not believe that the majority of modern degrees are a good financial investment! As for the education benefits of a degree, its nothing you can't learn on the Internet, and I should know, because I have a degree. A few graduates do get lucky and find the occasional job that pays way over the average, but this number is limited, and it is never in any business owner's best financial interest to overpay their staff.
Elsewhere in the world, leading restaurants are doubling their profits, proving that the financial crisis is not affecting everyone. Money can still be made, even in these times.
House prices continue to fall, and I, along with other savvy investors are waiting in the wings until at least 2010 to snap up a cheap bargain. I can't imagine who would want to buy a house right now. Recent graduates probably won't be buying or investing at this time, because they can't afford to.
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