Collegiate Times

In the words of the wise and articulate Tarzan: “It’s a jungle out there, Jane.”

And for recent graduates armed with only a bachelor’s degree and high hopes for a reputable job, the value of their hard work and investment might seem insufficient when traveling forth into the unknown.

With unemployment on the rise and no end to the bleeding in sight, it becomes even more crucial for those entering the labor market to distinguish themselves from the masses. Fifteen years ago, a bachelor’s degree acted as an almost foolproof way to obtain a respectable position, but in the dawn of the new millennium, people began to realize all too clearly that a bachelor’s degree simply is not what it used to be.

Here are some figures to illustrate the situation, courtesy of a February Wall Street Journal article.

“Based on the current value of the dollar, the average college graduate will earn a mere $279,893 more than the average high school graduate over the span of a lifetime, compared to a much higher $780,000 advantage estimated in 2002. In addition, the cost of a college education has risen from an estimated $15,518 a year to $26,273 per year. “Coupled with the fact that those graduating from college currently are entering one of the most dismal and competitive labor markets in at least 30 years, the career path of the average grad seems bleak.” And it is.

The question on most graduates’ minds (and their parents’ for that matter) is what happened between 2002 and 2010 that devalued the bachelor’s degree by approximately 36 percent?

The increasing pressures of a globalized economy have not only put Americans in competition with one another but with the entire world. Eager, talented young men and women possess the ability to leave their often volatile and uncertain economies and enter the United States in search of positions worthy of their expertise.

These employees contribute not only excellent skills in their field, but also a worldwide perspective of what the consumer wants. A well-traveled and more culturally savvy graduate will be more attractive than one whose focus has been solely upon one area of study.

An acute awareness of the evolving and diverse needs of companies, who have an obligation to cater to clientele around the world, has become a necessity rather than a commodity for those seeking a career.

Closely linked to the idea of globalization is the advancing technology integrated into every firm.

Oftentimes firms elect to invest more funding into improving their capital than increasing the amount of labor or hiring a more skilled labor force. After all, why hire a graduate with the ability to churn out complex calculations when a less-skilled worker can operate a program that performs the same calculation and requires less compensation?

In essence, advancing technology has put the average graduate in competition with a computer. How are laborers, who are guaranteed to perform only at a level with minimal human error, supposed to compete with a system that is only as flawed as the person who programs it?

On a final note, the prevalence of bachelor’s degrees throughout the country has made employers view them as a requirement rather than a luxury.

As higher education has become more accessible to the masses, the supply of college-educated labor has simply outgrown the demand for it. For most high school graduates with uninspiring GPAs, there exists an institution that will accept their money in exchange for a college degree.

Low standards simply breed a lower value of the product. Unfortunately, it becomes increasingly difficult for potential employers to distinguish the graduates from highly regarded institutions and those from less discriminating colleges.

Fortunately for the graduates of Virginia Tech, our reputation precedes us; many engineers, biologists, accountants, etc., find themselves well on their way to making competitive salaries.

Yet in order to maintain that standing, we must continue to improve. Let us not rest on our laurels but instead remain cognizant of the evolving demands of modern companies and do our best to transform ourselves to fit their needs.

After all, success breeds success, and in this day in age, we need all the help we can get.

A version of this article appeared in the Sep 21 issue of the Collegiate Times.