[quote=Arraya]Yes and demand for just about everything will be going down and 70% of college grads have worthless degrees.
The tuition bubble will pop eventually.[/quote]
I’d say 70% is an underestimate.
First of, we can eliminate MBA’s from tier 2 or tier 3 MBA schools. My understanding is that unlike other degree programs, being from a top-10 MBA program DOES make a huge difference. On top of that, it appears even if some top-10 MBA grads are having issues finding an ideal position that they normally would expect (wall street, management consulting etc)…So what happens? Trickle down and degree deflation…These MBA grads from top schools end up applying to what they consider 2nd tier positions (like positions in marketing/sales/admin/etc at normal companies). Companies get a bargain for some of these people from top tier schools, and hence what would be normally available your 2nd/3rd tier MBA grads are now being occupied by your 1st tier MBA grads. @nd tier MBA grads now need to compete for 3rd tier positions, and the trickle down/deflation continues. Companies end up having to pay less for what was previously more expensive labor.
Same thing probably could be said for the legal profession, though not an expert at this. There’s probably less opportunities for corporate lawyers etc these days, where the big bucks are. So again, top tier law grads, probably have to settle for tier 2 positions, and again we have the trickle down/deflation in the legal profession.
I’d say two professions that are going be more resilient are going to be (1) medicine (2) engineering (true engineering, not just IT labor/programmer)
Because ,you can’t just through anyone at a two year crash course tech and expect them to be able to know the detailed knowledge to produce. It takes time,training,etc to do that. And, no, the outsourcing argument isn’t holding up. Because clearly, companies are hiring these days (and paying dearly for new grads)….Some even still applying for H-1’s.
