Friday, September 16, 2022

Real vs Verified Knowledge: Is a Degree Worth It?

Given the fact that we're all in teachers college, I would say, "Yes!" We wouldn't be here without it! But it is still a long-standing question that people will continue to ask themselves.

Bill Gates, Mark Zuckerberg and Steve Jobs have earned incredible success through their hard work, perseverance and dedication to building their companies.  These three all happen to have dropped out of their respective universities.  So it is possible to achieve success without a degree, but they are definitely an exception to the rule.  These are generationally talented geniuses who took huge swings that easily could have turned out very differently. In interviews over the years, they all admitted that it was a huge risk in leaving school.

A degree may not always be necessary, but it definitely has its advantages. It opens more doors and expands the pool of jobs one can choose from. Does that mean it automatically leads to success?  Of course not, it is a first step but certainly not the last.  Malcolm Gladwell famously theorized that it takes 10,000 hours of intensive practice to achieve a mastery of complex skills.  In two equally talented musicians, what will distinguish one from the other is how hard they work at it.

In the end, what does all of this mean? If I work hard, I will be successful with or without a degree right?  So is a degree worth it?  Data from Statistics Canada answers that with a study that covered the lifetime earnings with three levels of education, those with high school only, a college diploma or a bachelor's degree.  Findings show those that have a bachelor's or college education "have more favourable labour market outcomes of their working lives than individuals who have only a high school diploma".  In particular industries like science, technology, engineering and mathematics (STEM), it is significantly more likely for individuals to find and achieve success. 

An Investment of a Lifetime? The Long-term Labour Market Premiums Associated with a Postsecondary Education (statcan.gc.ca)


 

Courtesy of JoelleM@NU

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