RE: Experience vs College Degree

["M. Lazarus" <mlazarus@xxxxxxxx>]

Phil,

At 6/28/02 04:19 PM, you wrote:
>At age 21, definately get a degree.  Even if you have to quit your current
>job.
>You have no idea what opportunities may present themselves by going to
>college.

  I would like to play devil's advocate, from a practical financial
standpoint.  Let's take a look at some numbers.

  Assuming a local college, no out of state fees, no dorming costs and
conservative tuition, let's say $10,000 per year (don't forget books,
student fees, etc.)

  He's quit his job, so there's no income.  Let's say he's making (again
conservatively) $50,000 per year.

  School costs: 4 x 10,000 =  40,000
  Lost income:  4 x 50,000 = 200,000
                             -------
                            $240,000 + any interest due for your student loans.

  Also lost is the interest or other investment opportunities from the
income flow.  And what about the 4 years of real world business and
technical experience that he will lose out on?  I would rather hire someone
w/ 5 years experience than 1 year + a degree.

  What other hardships will be encountered due to the lack of
income?  Remember that Justin has a mortgage and probably some other
responsibilities.

  So, after 4 years, he'll be out roughly a quarter of a million dollars
for the dubious advantage of: "You have no idea what opportunities may
present themselves by going to college."

  How long will it take to make up the difference???

  I'm not saying that Justin should not go.  I'm just saying that it's not
the panacea that seems to be the popular sentiment in this group.

  My opinion is that it's much more practical (since you already have a
job!) to enhance your value in the field by going to educational
opportunities such as Common, or taking some additional programming courses
such as Java or ILE concepts (if you can find one near you!), etc.  You can
probably show your employer that he would get a reasonable ROI if he sent
you to those, so you may get paid time and the course paid for.  It's a
win-win for you and your employer. JMHO.

  -mark