Should colleges warn theater or philosophy majors their field of study is unlikely to lead to a good-paying job? Should career prospects and earnings become part of discussions with students enrolling in universities and colleges, which have long resisted becoming job training programs? And should trends in the job market influence what and how colleges teach?
A new study out of the Georgetown University Center on Education and the Workforce addresses the disconnect between what students study in college and what the job market wants in graduates.
Among the findings: Tuition and fees at public four-year colleges and universities have grown 19 times faster than family incomes since 1980. While college grads are generally happy with their decision to attend college, the study notes more than half would choose a different major, go to a different college, or pursue a different postsecondary credential.
The study says: Going to college has become one of the biggest investments people make in their lives. College provides large rewards, with graduates earning over $1 million more over a lifetime than high school graduates, but also involves substantial risk, with a $3.4 million difference in lifetime earnings between the highest and lowest paying majors. Thus, integrating education and workforce data will go a long way in removing the guesswork for individuals navigating the college and career maze.
“Higher education has become a $500 billion computer without an operating system,” said Anthony P. Carnevale, director of the Georgetown Center and the report’s lead author. “Learners and workers need a modern guidance system with clear and comprehensive consumer information that will help them make good college and career decisions.”
To read more, go to the AJC Get Schooled blog.
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