Welcome to May!
What’s the best way for us to level up? Is it still a college degree? Was it ever?
That’s the question we’re pondering this month.
There are good points to support each side of this debate. Some believe a college education is necessary, and the experience provides opportunities not available elsewhere. Others believe college is a waste of money and success can be reached without the debt. Arguments in support of the latter opinion are getting stronger, as more of today’s influencers have become wealthy by means of social media, strategic investments, and entrepreneurship without graduating from a higher institution.
Maybe it depends on your field of choice, your learning style, and your goals. But let’s be honest, how many of us would be OK seeing a doctor without an advanced degree?
Data shows that nearly 30% of living billionaires never got a bachelor’s degree. So do you really need to borrow $102,000 to become successful in every field? Because that’s the average costs of attending a public, in-state college for four years, and the cost increases for private and out-of-state education.
What’s the difference between those who make a living for themselves influencing others on social media and the more than 70% of folks who actually did obtain a degree before adding to their bottom line?
And do the same rules apply for Black hustlers as for whites? No need to research for the correct answer to that question. No. I can easily assume it’s easier to gain wealth as a white person without a degree than as a Black person with the same credentials. But just in case you need proof, here’s the data from The Washington Post:
“But even among families headed by someone with a college degree, median net worth for white families is substantially higher at $397,100 — compared to well below $100,000 for Black and Hispanic families.”
The issue is complicated, indeed. There are so many factors that need to be considered when deciding whether or not to pursue a college education. As Gen Zers contemplate early career moves, millennials contemplate ways to level up, and Gen Xers contemplate leadership opportunities, we are contemplating the value of a degree for all. Chime in on the discussions this month and tell us what you think.