It wasn’t that long ago that I could resoundingly recommend that teens in the US who had an interest in any sort of “STEM” field go to college and get their degree.
I’ve not been able to make that argument for the “social arts” or the “liberal arts” for close to 20 years, but as recently as 10 years ago it was still an excellent argument, even at the inflated, debt-laden price, for STEM-related fields.
About five years ago I started to sound the alarm even in the STEM fields, as the offshoring and H1b abuse got bad enough that with few exceptions the risk had risen to unacceptable levels even in those fields, considering that your risk profile extends out at least four years from when you go to college and usually five or six.
Now, today, it appears I was right to be concerned — and I can no longer make any sort of argument for post-secondary education at today’s prices in the United States.
Monthly salaries plummeted 16 percent to 4,014 yuan ($590) this year for a second-straight annual decline, data from recruitment site Zhaopin.com show. The Ministry of Education estimates that 7.95 million will graduate this year, almost the population of Switzerland.
This post was published at Market-Ticker on 2017-06-05.