I think Peter Schiff is brilliant.  You may or may not agree with that, but he hits on a real hot button for me in a recent blog post:

Everybody has got degrees, so what are they worth?

What people need are real skills, on the job training, acquiring a knowledgeable skill that actually makes them more productive. That`s what a lot of americans lack. - in recent video interview while discussing why isn`t America more competitive.

I live very close to two prominent universities, Duke (private) and the University of North Carolina (public).  Both have great names to put on a resume and both continue to get more expensive at a much faster rate than incomes or inflation.  They both raise incredible amounts of money every year from alumni donations and other sources.  The sense of entitlement around the higher education industry is incredible.  A never ending increase in value.  It’s not sustainable and Schiff is right.  If everyone has a degree, what is it really worth?

In recruiting we continue to see degrees as a must have requirement.  It doesn’t seem like we see much importance placed on where the degree is from.  Something has to give in higher education and those in that industry should be aware of the bubble they live and work in.

Todd Kmiec

Todd Kmiec and Associates

todd@toddkmiec.com