Commentary
Mark S. (withholding the real name) worked four years to earn his B.A. in economics and then went ahead to get an M.A. in finance, which took another two years. In total he spent $250,000, half of which he borrowed and still owes, plus the income foregone for the time he spent is at least that much. So for his entire suite of credentials, he already blew more than half a million in direct and opportunity costs. But, hey, now he is prepared for a great career, right?
To his amazement, once he got out in the real world, he started pretty much at the bottom of the firm. No one had any respect for him. He would not advance on his degrees even from the fanciest place. He was quickly expected to gain some credentials and licenses. As it turns out, no one in the profession respects college degrees anymore. They know how academia works. It is a flip of the coin whether the degree holder actually knows anything or can do anything at all….