Exploring Career Paths After College at 21: A Bartender's Perspective
At the ripe age of 21, you're still quite young, with myriad career paths ahead of you. You can study practically any subject, from creative writing to electrical engineering. But the true challenge isn't the subject matter; it's aligning your studies with your career aspirations and finding the time to pursue higher education.
When considering going back to college, you might want to focus on a marketable field like STEM (Science, Technology, Engineering, and Mathematics). While these are incredibly powerful fields, they come with a daunting challenge: acquiring a well-paying job in this competitive economy is exceptionally difficult.
Job Market Outlook
Unfortunately, the job market is far from ideal for recent graduates. Over half of new college graduates find themselves either underemployed in jobs that don't fully utilize their degree or are searching for employment altogether. The statistics are stark: as of January 2015, an alarming 25% of minimum wage jobs were filled by college graduates. The field you choose to study can significantly impact your future employment prospects and financial stability.
A unique example that illustrates this disparity involves a conversation I had with recent graduates from the University of Louisiana. Among the pair, one was employed at a local bar preparing brisket chips and serving beer, while the other had secured a job in the energy sector in Houston. This anecdote exemplifies the varying outcomes of college majors in today's job market.
The OWTW Strategy: A Thing of the Past
It's clear that the traditional path—graduate from high school, attend a four-year college, secure a degree, land a well-paying job—is no longer a safe bet. Dr. Kenneth Gray coined the term "one way to win" (OWTW) to describe this conventional strategy, which has become increasingly impractical over the past two decades. The "academic middle," as described by Dr. Gray, faces an uncertain future in this new economic landscape.
Today, the key challenge in higher education is the imbalance between "supply" and "demand." When only 7% of the population pursued college education post-World War II, graduates were scarce. Today, with 40% of graduates flooding the job market, college graduates are "a dime a dozen."
After the 2008 Great Recession, the American economy has faced a prolonged recovery. In the nine years since, we haven't seen a single year of 3% GDP growth. There simply aren't enough suitable jobs to accommodate the increasing number of college graduates. This is a fierce competition for a limited number of high-paying positions, and many will inevitably fall short.
Lower-Risk Alternatives
Given this challenging landscape, consider a lower-cost and lower-risk alternative. Dr. Kevin Fleming's book,"REDefining the Goal: The True Path to Career Readiness in the 21st Century," provides insights into hidden high-paying job opportunities. According to Fleming, the true ratio of jobs in the U.S. economy is 1:2:7. For every occupation requiring a master's degree or more, there are two that require a university degree, and over six that require a one-year certificate or a two-year degree.
Many of these high-skilled, high-demand jobs can be pursued without incurring significant debt. For instance, continuing to bartend while gradually pursuing an associate's degree in robotics installation and maintenance would allow you to find a job with a tuition benefit and complete a bachelor's degree for free.
One example is a program offered at a community college near my home. An associate's degree in robotics is achievable with a maximum cost of $10,000, with some classes being free due to government grants. Students who complete this program can work full-time with benefits at a starting rate of $25 per hour. Unfortunately, despite the high demand and excellent job prospects, this program faces minimal interest, with class sizes often running 3-4 students.
The tech mechatronics program at Gateway Community and Technical College in Northern Kentucky offers incredible technology and numerous industry partnerships. The state and local industries have invested millions to train 200 students, but only 27 graduated last spring due to a lack of interest. Local industries are understandably frustrated by this.
Another school, Great Oaks Community College, had to drop their plumbing certification program due to lack of interest. These examples underscore the critical importance of finding a program that aligns with market needs and student interest.