Employment expert weighs in on how Skilled Workers fare Vs. College Grads
Former Trump administration official A. Wayne Johnson recently described the student debt program in this country as ‘fundamentally broken.’ For the millions of college students who have an average of $37,172 in debt by the time they graduate, these words no doubt ring true.
And, students are not the only ones who are feeling the pain. Research shows that college debt leads to poor sleep and high anxiety, potentially causing employees to be unmotivated and unfocused while at work, in turn harming employers and their bottom line.
This begs the question: Is college for everyone? Or, would entering a skilled trade be a smarter choice for many young adults?
“We have this idea in our society that a college degree is the gateway to financial freedom and success,” says Rob Wilson, employment trends expert and President of Employco USA. “But the statistics don’t necessarily bear that out. Most college grads end up moving home after graduation to live with their parents, and it takes several months or more for them to find a job. In many cases, that job won’t be in their field of interest, and these young people end up spending a good chunk of their paycheck paying off their hefty student loans.”
In contrast, Wilson says that skilled trade workers make $50,000 a year (similar to a new college graduate’s annual salary), and they have around $2,500 in student loan debt as opposed to $37,000.
Wilson says, “Getting a 2-year degree can be a very smart move for many Americans. Baby boomers are retiring in droves, and as they do so, they will be leaving many of their jobs in skilled trades like carpentry and electrical work. Companies will need trained workers to replace this staff, and those few that can fill these positions will be in high demand. Alternatively, a college graduate with a degree in communications will be competing with millions of other equally qualified and motivated young people with similar degrees.”
So does Wilson think a college degree is not worth the debt?
“It really depends on your goals,” says Wilson. “Some careers certainly will require a 4-year degree. However, the reality is that we need skilled workers in this country, and companies are willing to pay good money to get that. Some will even pay for your training…meaning you can actually get paid to learn invaluable job skills that will look good on your resume no matter what career you end up choosing.”
For more on this topic, please contact Rob Wilson at rwilson@thewilsoncompanies.com.