In the 1950s, education was a key to labor market success. Today, it is one of the strongest predictors of employment and pay. Today, a high school diploma is the minimum requirement for almost any job. But despite these benefits, education is no longer enough to break into the middle class. In fact, most employers expect young people to have a specific skill set before hiring them.
Without a degree, you must demonstrate that you have the experience and skills to excel in your current job. While an old degree might seem irrelevant to a company today, it can show prospective employers that you have kept abreast of industry trends. In addition, employers look for individuals who will add value to their organizations. That’s why a college degree is essential to your employment prospects. But, if you’ve already worked for several years in a field, a degree is not a necessity for your new job.
Even though formal education is a vital part of the American workforce, it has not always paid off. Research has shown that women have a negative correlation between education and job satisfaction. In contrast, self-employed people showed no negative association. This may be because self-employment provides more flexibility than traditional occupations, such as the ability to set your own hours and control the content of your work. Researchers don’t recommend that women avoid college altogether, but suggest that they consider their options realistically and carefully calculate the trade-offs between “good” and “bad” working conditions.