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Tread Water: Go To College

May 28, 2014

The NYTimes most emailed article today is falsely titled: “Is College Worth It? Clearly, New Data Say” The story leads with this compelling chart to prove in one quick view that college IS worth it. The chart shows the RATIO of college earnings (the top line) to the earnings of those with SOME college (the bottom line) since 1975.


What the chart DOESN’T show is that since 2001 the earnings of those WITH a college degree has stagnated. Why the increasing divide?

The pay gap has grown mostly because the average wage for everyone else has fallen.

Basically, the corporate race to the bottom in wages AND total compensation has resulted in stagnant salaries among college graduates and a LOSS of wages for everyone else. The headline of this should have been “RACE TO THE BOTTOM” because that’s what is really happening here for everyone except the very top .01%. The bottom line:”Get a Degree to Earn Stagnant Wages”.

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