In college, it pays to be smart. College shouldn’t be about finding oneself; college should be about finding a job.
According to Anthony Carnevale, the director of the Georgetown University Center on Education and Workforce, “There’s very little alignment between the education system and the labor market in America.”
As parents, we want to give our kids the best opportunities, so this news may be disheartening. As a financial professional, I have had so many conversations with parents about making sure their kids are taken care of, for college and beyond.
With college, it pays to be smart. College shouldn’t be about finding oneself, college should be about finding a job. No matter whether you or your child are footing the bill
, you must be concerned with return on investment (ROI).
College is expensive, as we’ve outlined in previous posts. As such, you need to make sure that you’re getting the most bang for your buck
. Encourage your child to follow his or her passions while remaining realistic about the job market in this economy.
Math and science-based fields, such as engineering, pharmaceutical sciences, programming and other computer-based sciences like actuarial science are all great career prospects with many entry-level jobs in these fields netting new college graduates upwards of $90,000 a year.
Additionally, parents and students should look into shortening the bachelor degree process in anticipation of graduate school and its associated costs. If the cost of an entire year of undergraduate college can be avoided, those funds can be allocated to graduate school, which may provide the student with more ROI in the job market.