10 colleges least likely to pay off
Higher education usually is a financially smart decision, but at some schools the return on investment can be questionable.
VIDEO ON MSN MONEY
Even more today, I'd urge people to major in one of the STEM fields (science, technology, engineering and mathematics), accounting, teaching areas besides STEM like special education or foreign language, or in majors associated with medicine.
I would add that
Parents amaze me when their kid graduates college after partying for 4 years on dads money with a useless degree. Did they not understand the job market, job openings per degree, and pay scales that are listed on the web before they started? Do parents not sit down with their children and discuss the future? All parents want to help their kid become what they want. But if my kid wanted a music degree, I would try to push him into a double major with something marketable.
I would think most people realize that pay scale is a combination of career selection and then after that, growing experience, becoming an expert in your field, your drive and awareness of your market value. Ive seen experts in their field not knowing that they are underpaid due to lack of awareness as well as people selecting good career but are worthless or at low levels in job performance and get paid accordingly, etc.
The start of a good paying job or career is simple.
Typically the more difficult it is, the more demand and pay.
TALK TO YOUR CHILD EARLY!
Look up the stats on-line with your child in 6, 7th grade and continue through high school. I believe the majority of kids don't know what they want to become after high school because of the lack of home discussions so they choose the easiest, least painful way to go through life for the next 4 years.
The problem is that they trade 4 or 6 years of potential struggles through Chemistry, Engineering, Medicine/Health care, Accounting etc to instead struggle financially for their next 50!
Im am Engineer, My son just graduated with a mechanical Engr degree and is employed, good start.
Not a wealthy living, but a decent one.
But if you really want to make it, start a business. The pay is unlimited. All You!
Then you can complain only to your self.
Two of my kids with BA degrees from Auburn University work in service sector jobs and both have been cut to 30 hours a week by different employers so they don't have to pay for health insurance (thanks to frickin' Obamacare). They are financially in dire straits.
The other kid has a technical degree in Industrial electricity and while he works a lot of overtime, he loves his job and makes a 6 figure income.
Bottom line as far as I am concerned....always learn a skilled trade that will feed you and a family no matter what. Further your education once in a good job as time permits but do it even if you can only take a couple classes a year.
If people are worried about university costs, do 2 years in community college and than transfer to a university to get your BS in 2 years. Saves you a ton of money. And if you want to get your degree faster, find out if there is a high school exit exam in your state. I took it (live in Cali. and the exam's name is CHESPE I think) and got out of high school after 10th grade. Than I went to community college for 3 years (I am an electrical engineering major and you want to finish all your math, physics, chemistry bio., introductory computer science classes like C++, C#, etc. before you transfer to a university). I am now transferring to a university and will hopefully get my BS degree in 2 years. And just as The_Mick said, major in one of the STEM field (and the other fields he mentioned).
Don't worry about going to Stanford, Berkley or any top schools. Try to get into a UC (like Irvine, Riverside, etc.) or even a Cal State. Work hard in any school, get your engineering degree and you will most likely get hired.
Side note: If you want to be an engineer and are in high school, learn some programming languages like Java and C++. The tutorials on Youtube are awesome. And if you like programming, try to major in software engineering or computer science. There will be explosive growth in that area in the future.
The school attracts a good selection of recruiters and our son had five or six interviews during his last semester. Two job offers resulted, and he accepted one from a large reinsurance company. He started as a credit analyst making 48 thousand per year. His first promotion came in February.
I work for a regional banking corporation in the midwest. It has been many years since I was responsible for hiring at entry level, but our policy then--and now--has been to recruit smart, motivated people who can learn fast, express themselves precisely and fluently and learn from mistakes. No particular degree will guarantee these qualities, but a liberal arts education can certainly give you a leg up.
I am a little suspicious of business degrees, even though business majors are a near-majority of recent graduates. The curriculum seems to consist mostly of jargon and the latest buzz-words thickly wrapped around a few nuggets of actual information. Does anybody imagine that a degree in "business management" qualifies anyone to manage anything?
I've worked in finance all my life and like to think that I know something about it. From what I've seen, the entire practical content of a modern finance degree can be learned on the job in six months or so. The rest is nothing but airy academic nonsense. And marketing? Common sense, nothing more. Most of my jobs have involved the development and marketing of financial products, and I've never had a course in either subject. History was my major.
There have been several articles in multiple magazines over the last 3-4 years questioning the value of a college education for many of the kids who graduate from high school these days.
The primary negative toward the idea is that many kids who graduate today have no clue what they truly want to do when they leave high school. The best advice seems to be to get a job in a field that interests them at the time of graduation, and attend a Junior College to get an AA degree. The idea being that after 2-3 years of working and school at a higher level, they have a broader idea of what the world has to offer, and perhaps they have a better idea of what path they wish to pursue.
I have a buddy who's son spent 10 semesters (4 1/2 years) at the University of Washington earning a degree in computer sciences...(expensive and difficult degree) only to decide after graduating he wants to be a firefighter. I worked with guys in the P.D. who had degrees in pre-med, accounting, English literature, and all wound up packing a gun for 3 years.
Bottom line, I know few people who REALLY work in the field they were educated in unless they have made it to a point where thy can't afford to do something else. Most wish they had chosen a different career. so, working and doing J/C...might not be such a bad idea for many.
No payoff from such highly ranked, well known schools as these? Shocking!
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
Shopping at Costco saves money, even after paying the $55 membership fee, but comes at the price of buying in bulk and limited selection.