There’s another aspect to “credentialism” that people ignore.
The most in-demand credentials in much of the labor market aren’t bachelor’s degrees, master’s or even associate’s. Many of the jobs that go unfilled require six months to a year of highly specialized training beyond high school and result in a certification or credential in fields like advanced manufacturing or cyber security.
Unfortunately, young Americans have been sold on the notion that you can’t be successful without a college degree. So, they borrow vast sums to finance a bachelor’s that has absolutely no market value, or they drop out of school and join the ranks at Starbucks.
I work in higher ed and every day I see scores of young people who would be infinitely better off in a certification, apprenticeship or credential program. Some eventually wind up there, but not nearly enough. The average individual working in the skilled trades is in their late 50s, and there’s going to be a huge shortage in the years ahead. Regrettably, a lot of 20-somethings (and their parents) can appreciate the opportunities that are available, because they worship at the altar of the college degree.
Here’s an example: a student can complete a Level I certification in Mechatronics (advanced manufacturing) in six to nine months. Starting pay is $45K, and most make $60,000 with overtime and full benefits. Go back to school for another six months for a Level II credential and your starting pay is $70K, creating the potential for $85-90K with overtime. Total bill for tuition, books and fees for the initial credential? Less than $4,000 in my state.
One more thing: the employers looking for individuals to fill these jobs aren’t playing the diversity game associated with the public sector, or white collar occupations. These firms are looking for someone who has the required credential and can do the job, regardless of race or gender.
Median weekly earnings by educational attainment in 2014
Median weekly earnings of full-time wage and salary workers age 25 and older with less than a high school diploma were $488 in 2014. The median for workers with a high school diploma only (no college) was $668 per week, and the median for those with at least a bachelor’s degree was $1,193 per week.
https://www.bls.gov/opub/ted/2015/median-weekly-earnings-by-education-gender-race-and-ethnicity-in-2014.htm
Median Household Income in 2015 By Educational Attainment of Householder
Less than 9th grade: $26,252
9th to 12th but no diploma: $26,356
High School Grad or GED: $42,047
Some College, no degree: $51,906
Associates Degree: $62,485
Bachelors Degree: $87,991
Master’s Degree: $101,323
Professional Degree: $136,640
Doctorate Degree: $121,244
https://www.statista.com/statistics/233301/median-household-income-in-the-united-states-by-education/
There should be a category for non-college grads with skills in fields that are essential and cannot be outsourced. Mechanic, plumber, heavy equipment operator and electrician come to mind.