[credit provider=”New York Times “]
If they could do it all over again, 48 per cent of recent college grads say they would have chosen a different major. And these people started college before the recession began in December 2007.It’s clear which students screwed up.
A study by Northeastern professor Andrew M. Sum, described in the NYT, revealed that 68.5% of computer science and maths majors found a job in their field, whereas only 45.4% of humanities majors did the same.
Of course, the recession made things even worse. Not only is it harder to find a job, but today’s grads aren’t making as much money: students who earned degrees between 2009-2010 started out at $27,000 on average, as opposed to $30,000 for 2006-2008 grads, according to a separate study from Rutgers. Meanwhile those who did internships are making 20 per cent more than those who didn’t.
“The best way to nullify an unlucky graduation date is to change jobs when you can,” economist Till von Wachter tells the Times. “If you don’t move within five years of graduating, for some reason you get stuck where you are. That’s just an empirical finding. By your late 20s, you’re often married, and have a family and have a house. You stop the active pattern of moving jobs.”
Some people would go further: 57% of Americans say the cost of an undergraduate degree isn’t worth it >