There is currently $1.6 trillion unpaid student loan debt in the United States, with the average student owing $37,088. Along with a myriad of shifting workforce dynamics, these costs are challenging a narrative that college is always key to a fulfilling and lucrative career.
For years, early education systems have embedded a perception that earning a degree guarantees better pay and better job security; therefore, it should be pursued by all. And higher education can indeed be extremely valuable — from the knowledge gained to the people you meet.
But this perception was also built from a generation in a very different job market where it was also possible to pay for school through part-time work. There simply aren’t enough hours in the day for people to do that anymore.
Today, not only do nearly a third of students end up dropping out, but technological changes, outsourcing and the oversaturation of certain majors in the workforce have vastly changed the job market landscape for those who do graduate.
While a simple comparison of averages will still suggest that higher education results in higher income, that doesn’t reveal the entire picture — especially considering how much the aligned occupations vary for different majors.
In fact, the income for top-earning individuals working in a skilled job requiring an industry credential or 2-year associate degree is actually much higher than the average income for many occupations requiring a four-year degree.
Combine that with the lofty cost of earning that four-year degree (with less financial support from states), and the picture becomes clear — the value of higher education is changing.
Success in today’s job market and economy is becoming about acquired knowledge and skills of in-demand jobs as much as it is about education.
The rising need for skilled workers
Alongside higher ed’s growing price tag, openings for roles in skilled trade work have continued to sit empty.
Ongoing workforce shortages have sparked significant growth in salaries for these types of roles. And younger generations are seeing this. Twenty-year-old Tanner Burgess, for example, explained to The Wall Street Journal that at his job as a welder — with only five years in the profession — he expects to soon be making six-figures.
And welding isn’t the only area offering these kinds of opportunities. Despite how essential it is to the world we live in, one such industry that many may not realize is out there — broadband.
Broadband access has become about a lot more than internet browsing. Today, it is an essential backbone for education, health and opportunity.
Yet most don’t think too heavily about the technology that makes our interconnected digital world possible. There is a vast and multi-faceted infrastructure that exists to make every telehealth visit, every job interview and every text possible. And moreover, there is a rising demand for a workforce to run and maintain that infrastructure.
Interested in knowing about the careers, cultures and qualities of this industry? Learn more here.