With the ever-increasing focus on getting more and more degrees, it is often a question which people ponder on – “What to do after High School?
On one hand, it is an obvious choice to pursue college, because it seems more likely that higher education and more degrees will result in higher overall income. On that note, we conducted a study from the data obtained for several students graduating from different colleges with Certificate (1 year or less), Associate (2 years), Bachelor (4 years) and Graduate (> 4 years) degrees.
The study focused on estimating the earning potential of students 10 years after they graduate. For details about the study, I would encourage you to read here. Overall, the study showed that students who went for graduate-level degrees had higher earning potential. But what is also true is that while students are getting their degrees, they are incurring a huge amount of debt. They are also losing invaluable time which could be invested somewhere else.
As an example:
let’s say you go for a 4-year degree, assuming tuition cost of each year to be $20,000 on a lower side, you are looking at 20,000 x 4 = 80,000 just for tuition alone. Include an additional $40,000 or $50,000 for living expenses and you are looking at $80,000 + $40,000 = $120,000. This is a conservative cost without taking into consideration the interest and cost of other expenses. Not to mention these days only doing a bachelor’s degree is not sufficient to get a high paying job. As pointed out earlier from the results of the study students with a graduate-level degree are able to secure high paying jobs.
So, you will at least have to do one more graduate-level degree. This will more likely add more to your already incurring debt.
In contrast to that, think about what you can do to with $120,000, you can easily start a good business. And if it is successful you are probably looking at exponential gains.
But at the same time, it is a common saying that 9 out of 10 businesses fail. So, if you lose that money and then you do not have any safety net or a fallback plan, it could cost dearly. Not to mention that it can have a serious effect on your confidence. And we are back to where we started, to that big question “What to do after High School?”
Alternatives to college degrees:
There have been several millionaires and billionaires that do not have college degrees. We all know those stories. As I pointed out earlier people have spent a lot of money to get through the colleges and at the same time, they could have used the same amount of money and time to start a business. Which could mean a better return on investment (ROI)?
It is important to note here that I am not trying to advocate for one way or another. I am just trying to list the pros and cons of every decision and trying to get your brains stimulated on this problem.
Before you make one of the most important decisions of your life, it is important to get the whole information so that you can make the most informative decision.
So, how should we decide what to do?
In my opinion, it should start by asking yourself the question is there something you are passionate about? Or is there something you can do for hours and hours without being bored?
YES: If the answer is yes, then you should think about a way to monetize that. But it is easier said than done because we have trained our whole life to find a job and keeping it until we retire. Having an idea and using that as a platform to do something big and meaningful is portrayed as an illusion.
NO: If you don’t have that answer but there are certain fields that excite you, the best thing to do is to find someone who has been working in the field for a long time. Ask them what is it like to be in that field?
What is there day look like? Do they like it? This is the idea we had while developing our platform Getjobzz.com. Here we will match you with mentors from different fields and they can provide you with the insights of their respective fields.
There is yet another option where you don’t have to enroll in a full-time college and spend a huge amount of money. Also, you don’t have to put that money to start a business. What you can do is learn any skill – be it through certifications, or by working in the same business that you eventually want to run.
After learning all the pros and cons, you will be better informed and more confident to start your own work. This, however, will take a lot of time in the research, and there is a way to cut this time short. There is a way to jumpstart your learning curve.
Here, I would like to bring you back to the same idea that you should meet people who have years of experience in the same line of work and understand what you are getting into before you actually start it.
We can match you with a perfect mentor who can guide you and share their experiences. Whether you want to be a lawyer, doctor, teacher or any other profession, or if you want to run a business, we will connect you with someone who already has experience doing that. This way you can save your invaluable time and money and move forward towards your goals with more confidence.