Will you earn more money because of your university degree? Perhaps not, the Economist suggests.
Going to university doesn’t necessarily translate into a bigger paycheck or a greater certainty of employment, according to the Economist. In fact, you might be missing out on making USD 60,000 while pursuing a standard four-year degree. The educational bar has consistently been rising, making degrees a standard requirement for jobs that once had completely different educational standards: In the 1970s, only 16% of registered nurses in the US had bachelor degrees. Despite rising to 60% in 2015, the new figure did not yield a higher wage for all. The trend also holds for the majority of other fields of employment: “Over the past 50 years, nearly half have seen wages fall in real terms.”
Uncertain future: With the advent of artificial intelligence, automation, big data and fintech, the job market will witness be disrupted, while the rise of short, work-focused courses in fast growing fields, such as IT, will provide long term training for employees, without the need for paying so much on university tuition fees (watch, runtime: 3:01).