Thursday, October 20, 2016

Impact of the increase in bachelor degrees in the job market



My topic of interest is outside of the scope of EHE, but closely relates to the value of a degree. I am not entirely sure why I am particularly interested in my topic, but I find it perplexing and interesting to contemplate. My topic is about how an influx of bachelor degrees affects the value of degrees in the job market. 

There are thousands of colleges and universities today that are yielding increasing amounts of graduates. Considering the idea of supply and demand, when supply is low the value is high, and when the supply is high the value is low. If a bachelor’s degree becomes common place, then that education level could just become the new expected minimum for many jobs without being worth much else. Now experience can definitely set someone apart, but for new graduates that’s likely little to none. The bar for whom is sought after in the job market is inevitably raised if everyone’s education level is nearly identical on paper. So what will be sought after? I am wondering what will be the next desired educational background in the job market. The only strategy I used to pull this question out of my topic was clarification. I had a general idea of what I wanted to get at and understand, but struggled to clearly state it. 

Obviously, students who plan to graduate with a degree is the potential stakeholder. Even more specifically, those who want to get a job in their field of interest. Because I know people who have graduated, and a decent fraction of them have not gotten a job related to their degree. So my purpose is to convince the stakeholder to consider alternatives, and present possible academic avenues that will be highly valued and standout in the job market. To do this I will find trends about college graduates and employment, and some trends I can look for are as follows. How many people are graduating with a bachelor’s, master’s, PhD., or dual/interdisciplinary degree? How many people with various educational background are unemployed? What job markets are developing quickly? How many applicants do employers get for positions that require a bachelor’s, master, etc. Statistics of this general sort will be useful in determining what is likely to become the next sought after education background. 

Some likely answers to my question I think are likely are; increased demand for masters/PhD, increased demand for dual degree/interdisciplinary focus. Essentially being very knowledgeable and specialized or knowledgeable of and applying several specialties. Likely, a multi-degree background will become extremely valuable. For example, there is a lot of controversial debate currently surrounding genetic modification of humans. If someone were to possess a degree in biology and philosophy, then they would be a valuable intellectual to that debate. Dual degrees and PhD’s give people unique expertise, and in a flooded market such experts will likely stand out. If this degree inflation continues, someone with a PhD may no longer be considered overqualified for a job that only requires a bachelor’s.

Personally, I am working on a dual degree in physics and philosophy, with a philosophy concentration in science and technology. I am curious about the moral, social, and political impact of new technologies because I want to develop new technologies. It’s hard to determine what the impact of a new technology will be, but I will argue that innovators have a moral obligation to resolve issues that arise from their developments. I came to consider this a while back because of another project I intend to develop in my lifetime. A rapid, general purpose, method of assembling molecular structures. Completing such a device would enable us to manufacture anything from the atomic scale up. Going for this dual degree enables me to develop this technology, but also critically consider the implications of giving humanity the creative power of a god. Could we “print” out a living being? Difficult, yes, but impossible? I don’t think so.

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