This issue is addressed in a recent article in Forbes
The resounding answer: “yes”.
Some key points:
“But could their skepticism about college be right? Not based on earnings. The national arbiter of the data on the value of college degrees is Anthony Carnevale, director of the Center on Education and the Workforce at Georgetown University. His bottom line: On average, college graduates earn $1 million more than high school graduates.
And that’s just the beginning. College graduates with the highest-paying majors earn $3.4 million more than the lowest-paying majors.” (See Forbes link for attribution)
The author continues by pointing out that high paying blue collar jobs – such as welding – are not as attractive as the proponents of such career paths suggest.
I can say with certainty that in counseling several thousand Connecticut suburban students through the years none has expressed an interest in welding and despite my urging, few have considered the trades such as plumbing and carpentry.
The author of the Forbes article also makes a brilliant suggestion. The next time you are at a rental car agency ask the person behind the desk if they went to college. I’ll save you the suspense. He/she has. Most every rental car agency – as well as countless lower level white collar jobs – requires a college degree.
I certainly wish there were more options for 18-22 year olds but college is still easily the best for most.