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I'm certainly not trying to shut down discussion on the topics in this thread, but I disagree. The difference is between seeming possibly highly intelligent, and being poised to take full advantage of one's talents. (FWIW I also wouldn't assume that someone from Dartmouth is at or above the 99th percentile for IQ anwyay.) There's something to be said for having academic opportunities opened for one at an institution, but employment opportunity is just that.

With regard to needing credentials in order to be in the right place at the right time to foster one's development, that may be truer for some disciplines than others. One can't sit in one's basement doing research on one's own that requires a large hadron collider, but one can think the heck out of some abstract math concepts.

This is a good op ed. The main thing is to increase opportunity.

Jonlaw's comments on debt are right on. I do think that not having debt leaves people free to try things. You cannot start a business with 100K in debt.

I really don't think we are pulling ourselves out of this, either. Good article.

My daughter, who lives in Dallas, finds jobs easily even without a degree. She hasn't seen any lack of opportunity. She is making almost $80,000 a year in a job that normally requires a marketing degree. She says if she lost her job today she could find another one easily. It almost looks like social skills, networking ability, physical attractiveness, knowing how to dress well and fit in with all kinds of people and the ability to learn quickly and the drive to work hard and earn more and not settle for a dull boring job is more important than a college degree for some people. Her friends are all young professionals with enough money to travel and enjoy life. They don't have any trouble finding jobs. One recently got a good job after getting his law degree. She is the only person in her group of friends that doesn't have a degree and she thinks it is my fault because I told her not to take out student loans. I thought she should just take a few classes at a time while working full time to get experience. She did that and she has a good job but she is telling her little brother not to listen to me if I tell him not to take out student loans when he is old enough to go to college. She would rather have the debt and the college degree because it bothers her that she doesn't have a degree.

She also told me that one of the things that motivated her to work hard was living where she didn't fit in. She felt people in our town and family were judging her. She hated it just like my son hates it.

I've always found work easily without a degree as well, but I've definitely reached the limit of my career unless I go back to school. I'm an IT Manager and I make low 6 figures. Honestly, I'm lucky to have made it this far. My limited social skills count for a lot in the IT world, but I'm pushing my luck without the official piece of paper.

In Texas, no one cares what credential you have, just if you have a job and can do it well. When I am in San Jose, Seattle, or NYC, I get a lot of questions about where I went to school, etc. I never get those questions in Texas or Florida.


Above that level it becomes political and people also weigh in as to what your value is relative to what needs to be done. So, getting a degree will not help. To go further, you can find a set of coattails to ride or develop sales ability. Nothing wrong with six figures and leading a team well to get things done, though.

To go any "further" I'd have to either write for a living or buy a company. Its a nice problem to have.

On the general subject of college major choice and earnings, I think this recent article is interesting:

http://economix.blogs.nytimes.com/2012/01/18/what-the-top-1-of-earners-majored-in/
New York Times
January 18, 2012, 10:00 AM
What the Top 1% of Earners Majored In
By ROBERT GEBELOFF and SHAILA DEWAN

...

According to the Census Bureau�s 2010 American Community Survey, the majors that give you the best chance of reaching the 1 percent are pre-med, economics, biochemistry, zoology and, yes, biology, in that order.

<end of excerpt>

Looking at the article's numbers, I was surprised to see that art history majors were more likely than math majors to be in the top 1%, (5.9% vs. 3.9%). I remember someone at college saying that art history majors tended to be from well-off families and wonder if this plays a role. The optimistic take from this article is that one can major in a range of subjects and still have a chance becoming affluent.

This entire 1%/99% meme is kind of irritating to me because it keeps talking about income rather than accumulated wealth.

Income isn't the same thing as wealth, inherited or otherwise.

That being said, I-banking, medical specialties, and NYC BigLaw strike me as the best career tracks for the money oriented, with medical specialties offering the most security.

The key to the 1% is getting on, and staying on, a high-paying career track.

Math majors probably have to be hedge fund quants (or medicos) to get into the 1%. Art history majors get a plum job with the family foundation?