Father’s Day is as good a time as any to reanimate the PubArts blog after its months-long slumber. It’s my offspring, after all. And where would I be without my own dad, who worked so hard to make sure I had a great education and could earn a living myself. Okay, so I chose to ply the writing trade and calling that a living is a bit of a stretch at times. But still. It was awfully good of him, and I have always been tremendously grateful to him, and my mom, for their innumerable, and strangely willing, sacrifices.
It’s among the most basic parental (and societal) responsibilities: preparing the young to stand on their own. So it’s worth looking at the value of college education today, which can confer crippling amounts of debt with dubious real skills as a crutch.
Does Shakespeare pay off? The Center on Education and the Workforce at Georgetown University studied lifetime earnings of degree holders to find out. The chief finding: those who majored in engineering, computer science or business earn half again as much as those who majored in the humanities, the arts, education, and psychology. [http://wapo.st/lgVnDT ] Well, duh.
The study found the median annual earnings for someone with a bachelor’s degree in petroleum engineering is $120,000, in pharmaceutical sciences $105,000, and in math and computer sciences $98,000. Not too shabby. Holders of bachelor’s degrees in English, on the other hand, have median earnings of $48,000, while a degree in early childhood education will likely earn you $36,000. Counseling or psychology brings up the rear at $29,000.
The lesson: daddies, don’t let your kids grow up to be philosophers. Yet it’s worth noting that the holder of a bachelor’s degree still makes 84 percent more than someone who topped out academically in high school.
The Georgetown study didn’t cover advanced degrees. But if money is your bag, also note that an MBA can really pay off, especially if granted by a top institution, according to research done for Bloomberg Businessweek. A Harvard MBA is particularly rewarding, netting its average holder $3.6 million over 20 years, and consulting is the most lucrative field. [http://buswk.co/k8TgUp]
What have we learned? Spouting synergistic babble means big-time bucks and helping kids make good choices, not so much. That’s the marketplace. But here’s something no study can quantify or slap a price tag on: Education is still the greatest gift because it is the give of love. So a big thank you to all the good, education-minded fathers out there. … Especially mine. I love you, Dad.