Your Degree is Worth WHAT!? 30% of Jobs that Require a College Degree are at Risk of being Off Shored within 5 Years
While this article may be of interest to many, I wrote it directly for high school and college students with the hopes of challenging their current ideology and bringing back the old American values of entrepreneurship.
This country (the United States) was founded on the core beliefs of free enterprise and entrepreneurship. Somewhere along the lines with the industrial revolution, automotive explosion, and the introduction of the personal computer, corporate and factory jobs became the norm. The sole purpose of an education was to get a job in some factory or corporation and move up the ladder. While it may have been a safe and stable source of income 30 years ago, it is no longer the case.
Traditionally, the U.S. has worried about the off-shoring of manufacturing jobs, i.e. silicon chips are now manufactured in the Philippines paying the workers $10 a day, most automobile manufacturing is now done in Mexico since corporations can capitalize on tax breaks and pay the workers a fraction of what their counterparts would receive in the U.S., not to mention the non-existence of any Unions to protect the workers. However, in the past decade as the rest of the world becomes increasingly well-educated and competitive, the desirable and high-paying service jobs previously considered immune to moving overseas are becoming increasingly vulnerable as well.
A 2008 Bureau of Labor Statistics report focused on the potential off-shoring of service occupations and found that over 30 million of these jobs, about one-fifth of the total service occupations in the U.S., were at risk of being off-shored. By definition, a service job includes both high-paying, highly skilled, knowledge work from scientists and engineers to architects and fashion designers, managers, business analysts, and CEOs, as well as lower-skilled, lower-paid service work like telemarketers and data entry clerks. The study found that the at-risk service jobs were, on average, higher-paying ($61,473 vs. $41,610) and more highly skilled; 54 percent required college degrees.
What does all this mean for you and me? START YOUR OWN BUSINESS!
Corporations use off-shoring as a mechanism to decrease costs and increase profits while maintaining a comparable quality of service or product, or so they claim. Why not use these tactics of off-shoring to start or grow your own business?
The reality is that a corporation or any business is in it to make a profit. Don’t take it personally when Kurpal gets your job. If Kurpal from India can do programming at a considerably less fee, why not hire him?
The message I am trying to relay in this post is to educate you on the value of your degree and all the debt you’ve incurred. You and I are dispensable employees and the only way to secure our futures is by working for the government or starting our own business. However you want to look at it, even if a company is very profitable with all or most of its operations in the U.S., the corporate fat cats will NEVER disclose any plans to cut jobs or send them off-shore until they’ve decided to go forward with it. You will hear about it once they begin to move forward with it.
So what do you do? Take advantage of the fact that you are in one of the most industrially and technologically advanced, not to mention culturally modernized nations in the world. Your world class education wasn’t meant to place you in a job that has a 30% chance of being off-shored within 5 years. Your education was meant to broaden your understanding of the human experience and the world in which we live in so that you can have a positive impact through your own creativity and hard work. Utilize your education and build a strong network to start or partner up in a successful business venture.
In a later post I will talk about the ventures that are projected to be profitable in the coming years and how you can create a network of professionals that can help you achieve your career ambitions.
Here’s a great blog I found about how the mentality for many aspiring high school and college students can be fatal; http://calnewport.com/blog/2010/08/27/an-open-letter-to-students-on-the-danger-of-seeing-school-as-a-trial-to-survive/