Do income statistics (earnings vs. education) lie?

Discussion in 'Science & Society' started by dixonmassey, Aug 14, 2004.

  1. CharonZ Registered Senior Member

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    Two points, first I did say that chemistry guys get all the jobs. Demand and supply is very unfavorable for life scientists. Second, all the well paid jobs are in the industry.
    Just a few numbers, graduates in life sciences increased 42 % between the 80s and mid 90s. Faculty jobs increased mere 2.5 %, industry jobs around 7 %, however this was partly due to the biotech boom in the 90s, which is a bit declining again.

    So if you want higher education and money, you should choose your path carefully. Chemistry is still in demand, certain branches of physics, engineering, informatics and so on. Biology is among the losers (and I don't even want to get into academics in the humanities..).
     
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  3. surfermsc123 Registered Member

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    Can someone please tell me why professors and acadamias (my department) ALWAYS give this assesment as NORMAL results? My guess is that it they don't see the other 99% of graduates makign less than a plumber.

    I mean EVERY person physically involved in any college department, it doesnt matter if it's art history, will give this kind of assesment.

    Someone please tell me I'm not the only one to notice this?

    :shrug:
     
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  5. Roman Banned Banned

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    Then your talented B has a heart attack from too much meth, deep fried twinkies, and time behind the wheel at 55.

    The PhD continues his career into his 70s, making way more money.


    The end.
     
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  7. madanthonywayne Morning in America Staff Member

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    Can someone edit this thread title? It's annoying seeing such poor grammar.
     
  8. surfermsc123 Registered Member

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    7
    You might not believe it.. but that's the way it is...

    I do not mean to take your quote "out of context", I read your entire comment, however I could not help but respond to this line.

    You are certainly correct in your "belief". In a perfect world, students could have the security of knowing that as long as they went to college, made good grades, and did what they were told, they would be guaranteed to make more than someone who doesn't go to school, and chooses sales, or instead goes to trade school. However this is not how the real world works. The real world is the job market. Just like any other market (real estate, stocks, bonds, commodities) the job market is subject to the age old forces of 1) Demand and 2) Supply. It's that simple.

    The school system in this country stinks. Most of the jobs in high demand universities are simply not teaching anything useful. Teachers are not doers. That is why they teach. And that is why, generally speaking, you should pay close attention to their mannerisms when they invite a guest, usually an entrepreneur, or someone else who has built a company. Think Pee-Wee Herman standing next to... Rambo. I'm serous. Pay close attention to the professors demeanor. You will see something amazing. They do not teach anything useful that the market demands. The University system just stinks. These people think they are gods on campus, they are really just failures in the real world. Let me give you a real world example of something in demand University's refuse to teach:

    Currency Traders.

    These are professional traders that work for banks, brokers, and investors. They specialize in one thing and one thing only. CURRENCY. (EUR/USD ; USD/JPY ; GBP/USD ; NZD/USD etc) Amoung professionals, this profession frequently commands a very good income. Take a look into it and you will see that with all the fundamental and technical analysis today this is something that would take LONGER than 4 years to learn in a college environment. Technical analysis in itself is fundamental to trading any market. But guess what? Out of all the "finance" degrees and "investing" classes - Technical analysis is not taught in ANY Public University much less - currency trading.

    I have been currency trading for over 4 years. Self taught. And I can tell you that 4 years getting a BA in currency trading would not only put you in a solid income by the banks investors and brokerage houses that desperately need new talent - but it would teach you skills - real skills - that you could use to make MONEY.


    I truly hate all my college professors.

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    This includes William Ryan, Mark Peterson, Robert Dwarika, Bob Axe, the fat economics guy, the women who I had to threaten to get her to raise my grade (she failed me because I told her to her face I could care less about her class - I just wanted my degree. It is complicated how I did it, but basically I threatened her, and she raised my grade from a D+ to a B- where it was SUPPOSED to be in the first place).

    These people and the whole host of other professors who I see as wasted years of my life, time, and borrowed money 'teaching' complicated pie in the sky overly dissected NONSENSE with absolutely no application in the real world. Everything but how to make MONEY in the real world. College is a business. And these people profited off me. I spent 4 years of my life for a piece of paper that tells me I'm now "ok" to work as a company man (see: slave) for any cold heartless corporation that will be 'gracious' enough to accept me.

    I knew a guy that was a HIGH SCHOOL DROPOUT. He was working as a valet parker. Guess what? He started his own valet parking business in his spare time. Did sales, put ads in newspapers, got it event by event, pretended he had insurance, took risks. Today - he lives in South Florida and makes in excess of 400k per year. He is married to a smoking hot British actress (hot as hell) and drives a LAMBORGINI. I promise everyone I am not making this up. It is 100% true. Again - HE WAS A HIGH SCHOOL DROP OUT. So. Who is more successful? You? With your PHD and 26k per year? Or him? I think you know the answer....

    Rather than spend 4 years and 50k in college - I would have much rather started sooner in my business that I'm in now. That would have given me 4 extra years more time to learn this business hands on before I branched out on my own. I would have rather INVESTED that 50k in a half decent stock or CD. Invested in the Eurodollar on a margin! Think of how much money I would have today!

    Your degree is just your pass through the door if you want to follow the age old outdated advice of "go to school, get a good job, and climb the corporate ladder."

    No matter what you will be subject to the forces of supply and demand. Understand the market and how this affects you before you spend 4 years and 50k on your degree.
     
    Last edited: Dec 18, 2007
  9. surfermsc123 Registered Member

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    7
    Cute. That's what you think, however you are incorrect. Whatever makes you feel better I suppose...
     

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