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College Vs. Trades
The mantra that “college is the road to success” has been the clarion call for high school students for so long that it would seem to be a sacred text. The reasons touted include increased potential earnings, higher chances of employment, expanded opportunities, practical life skills, building relationships, achieving personal goals, and making a positive impact in the world.
These reasons were all mentioned in a recent article by Southern New Hampshire University. Of course, given that the article was released by a university, it may be slightly skewed in favor of higher education.
In a blog published by 5000 Futures, entitled “The Importance of Graduating from College: A Pathway to Success”, they focus on the monetary value (future earnings) of a college graduate versus someone with “just a high school education”. They point out that “The median weekly earnings for bachelor’s degree holders are approximately 67% higher than for those with just a high school education. Over a lifetime, this can translate to earning differences of more than a million dollars.”
The 5000 Futures article also declares, “…college graduates are less likely to experience unemployment. The unemployment rate for individuals with a bachelor’s degree is consistently lower than the national average, even during economic downturns. This job security is crucial in a world where job markets are increasingly volatile.”
Imed Bouchrika, PhD, writing in Research.com, “A common question asked by many students is: Is trade school better than college? Truth be told, one cannot say that trade school is categorically better than college or vice versa. After all, students have their own interests, life plans, and career paths they want to follow. As such, the value of one type of school over another will largely depend on their preferences.”
Disingenuous?
Although no one can argue the value and advantages of a college degree, the value, i.e., future earnings potential, is not equal across degree disciplines. However, the insistence on comparing a college-educated person to someone with “just a high school education” overlooks the value of non-college educational opportunities.
ROI
Ross Aresco, CFO of Erie Institute of Technology, addresses the question of ROI of trade schools versus college. This is what he has to say: “From a purely financial perspective, trade schools often provide superior returns on investment compared to traditional four-year degrees. Trade school graduates typically begin earning within months of completion while carrying minimal debt loads.
In an era of corporate downsizing and automation, specialized trades provide job security that many white-collar positions cannot guarantee. The long-term financial stability of skilled trades is particularly compelling considering that many trade careers offer clear advancement pathways. Experienced professionals often transition into supervisory roles, start their businesses, or specialize in high-demand niches that command premium wages.
Additionally, trade careers tend to be recession-proof since essential services like electrical work, plumbing, and healthcare support will always be needed, regardless of economic conditions.”
The Essential Economy
Ford CEO Jim Farley is urging corporate and government leaders to train and promote trades, manufacturing, and construction jobs.
Bruce Crumley, writing in a recent Inc. article, reports “Recent studies indicate more than 40 percent of Gen-Zers say they’ve embarked upon or are preparing for a career in the trades. That migration from office work demonstrates the pragmatism of thousands of youths who have struggled to adapt to the traditional workplace. However, their numbers are still likely to fall well short of the millions of people that Ford Motor Company CEO Jim Farley says are needed to reinvigorate the stalling engine of the nation’s productivity, which he calls the “essential economy.”
Jim Farley, quoted in the Inc. article, says, “What’s needed first is a comprehensive plan and collective vocational training investment strategy to teach more people the skills needed in the essential economy. To make this happen, he says, changes in business and public perceptions must help restore the financial and professional status of jobs that are now often viewed as last-choice leftovers.”
One of the biggest barriers is the hesitancy to enter these trades, because as a society, we don’t really reward or celebrate the people who take on these kinds of jobs,” Farley said. “We can’t rely on the government to fix it. We can’t just rely on business or communities. It has to be a cooperative effort.”
How Can ASN Help?
We understand more than most the value of skilled labor, training, and hands-on experience. We can, in addition to providing you with skilled workers, advise you on training opportunities available for your workers. If you would like to discuss this further, give us a call. We would love to talk with you.
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