College Is A Scam?

Advice for young people: This young woman is upset that she's almost 25, with a college degree that she went into debt $80,000 for and she can't get a job that pays $150,000-$200,000 a year in business and instead has to serve sushi for a living.

1. Your degree is just an entrance ticket into the arena. It's a helpful and important thing to have and can open doors, but it's not what will get you a $150,000+ job.

2. Experience does in fact matter. This is why it's important to focus on internships with reputable companies while getting your degree if possible. Instead of going to Mexico or Hawaii or Europe during the summer, get the best high quality business internship you can.

3. It's fine to get a service job that pays the bills after college, but you absolutely must be looking for something better. Even if something entry level pays far less than your service job, it puts you in a position to advance to something paying more in the longer term.

4. Getting a foot in the door is the absolute most important thing you can do after college. Getting ANY job, even the mailroom clerk, at the right company is more important than what you are paid. What you are paid in your early 20s is irrelevant beyond what you need to survive. In fact, really your entire 20's - 30's should be all about setting yourself up to make the big bucks in your 40's, 50's and 60's.

5. Once you get into the right company, even in an underpaying job, you can network and advance. You can also leverage your position at a reputable company to a higher paying job at a competitor.

All the while you are getting valuable "experience." One of the advantages that you have with your foot in the door is that you likely will get first crack at internal job postings. Once you work your menial, underpaid entry level job for 6 months or so, you can start using these internal job postings to look for something better.

Getting your foot in the door also allows you the opportunity to network within a company both socially and professionally. Most successful people in their 40s, 50s and 60s at companies are in awe and in fact envious of your youth. You remind them of a time when they were young and starting out too and many of them will be wiling to help mentor you and guide you in your career. Look for these opportunities. Make yourself open to them and you'll find most of the time these people are key to your future advancement.

Be bold and ambitious with these people. Tell them that you want to be the CEO someday or the top paid salesperson at the company or whatever. People love ambition and want to help the ambitious young.

6. Pay off your student debt as quickly as you can. This woman seems to be driving in a luxury car and drinking Starbuck's coffee. Instead take public transportation and make your coffee at home (even living with your parents if possible). Save as much money as you can and pay off that debt as early as possible. It will be important to be debt free when it comes around to buying your first house a few years down the road.

My first job out of college back in the early 90's paid $27,000/year doing desktop publishing. I had edited my college newspaper in college and so I knew how to use Adobe PageMaker at the time to make the company brochures. It was not the greatest job but it was a foot in the door. Three years later I was making over $150,000 at the same company working in sales -- and that was a lot of money back in the early 90s.

Being young in America is a beautiful thing. Instead of making Tik Tok videos complaining about your college debt and having to work a job serving sushi, go out there and make something happen for yourself.
- Thomas Hawk

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