mattaroo on Nostr: “In the past, having a college degree was seen as a ticket to a good job with a ...
“In the past, having a college degree was seen as a ticket to a good job with a steady paycheck, but that’s changing. Today, more college-educated people are taking on multiple jobs, just like those without degrees. The chart shows that since 1994, the number of multiple jobholders with a degree has grown from about 30% to 50% by 2024, while those without degrees have dropped from 70% to 50%. This means a degree doesn’t guarantee a single well-paying job anymore, and even educated workers are struggling to make ends meet with extra work. THIS IS GOING TO GET WORSE WITH AI!. I am not going to sugarcoat it.
A degree may no longer save you from juggling multiple jobs is the shrinking pay advantage. College graduates who hold multiple jobs earn less per hour ($29.32) compared to those with just one job ($30.33), and the wage gap is even bigger for degree holders. This shows that the extra money and time spent on education aren’t paying off as expected. As I have warned for years... if you have a kid facing 250K tuition and related oppty cost of spending 4 years in University.. it is very hard to justify going into what is coming.
My bookkeeper has a son, he is 35, trying to reinvent himself. He got into Law School... and will incur over 200K in debt and forego 240K in earnings. That is a $440K oppty cost. For a year I tried to convince her to convince him not to do it - told him to buy 10 BTC instead. I failed. He will never make that money back as I believe by 2030 most Legal Work will be done by AI! Same with accounting, etc
Workers are working longer hours—about 2,111 annually across multiple jobs—compared to 1,937 hours for single jobholders, just to earn a bit more overall ($57,865 vs. $56,965), which suggests they’re relying on extra jobs to keep up with costs like inflation.
Finally, economic pressures and a changing job market are pushing even degree holders into overemployment. With an aging workforce and challenges like inflation, many people, including those with degrees, are taking on extra work to maintain their lifestyle. The fact that the average age of multiple jobholders has risen to 42.5 and that college-educated workers are now a majority in this group shows that a degree isn’t a shield against needing multiple income sources. This trend suggests that the old promise of a degree leading to financial security might not hold true anymore, leaving educated workers in the same boat as others, working harder to get by.
PIVOT AND FOCUS ON INVESTING>>> IT IS THE WAY OUT. WAGE SLAVERY IS NOT.” James, at IA
A degree may no longer save you from juggling multiple jobs is the shrinking pay advantage. College graduates who hold multiple jobs earn less per hour ($29.32) compared to those with just one job ($30.33), and the wage gap is even bigger for degree holders. This shows that the extra money and time spent on education aren’t paying off as expected. As I have warned for years... if you have a kid facing 250K tuition and related oppty cost of spending 4 years in University.. it is very hard to justify going into what is coming.
My bookkeeper has a son, he is 35, trying to reinvent himself. He got into Law School... and will incur over 200K in debt and forego 240K in earnings. That is a $440K oppty cost. For a year I tried to convince her to convince him not to do it - told him to buy 10 BTC instead. I failed. He will never make that money back as I believe by 2030 most Legal Work will be done by AI! Same with accounting, etc
Workers are working longer hours—about 2,111 annually across multiple jobs—compared to 1,937 hours for single jobholders, just to earn a bit more overall ($57,865 vs. $56,965), which suggests they’re relying on extra jobs to keep up with costs like inflation.
Finally, economic pressures and a changing job market are pushing even degree holders into overemployment. With an aging workforce and challenges like inflation, many people, including those with degrees, are taking on extra work to maintain their lifestyle. The fact that the average age of multiple jobholders has risen to 42.5 and that college-educated workers are now a majority in this group shows that a degree isn’t a shield against needing multiple income sources. This trend suggests that the old promise of a degree leading to financial security might not hold true anymore, leaving educated workers in the same boat as others, working harder to get by.
PIVOT AND FOCUS ON INVESTING>>> IT IS THE WAY OUT. WAGE SLAVERY IS NOT.” James, at IA