Monday, November 28, 2011

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Friday, November 18, 2011

The Worthless College Degree

Its time that somebody said it loud and clear: a college degree is a waste of time. Remember, you heard it here first.

Everybody "knows" that people with a college degree make more money. The only problem with that fact is that it's false. It's easy to make it appear that a college degree will mean more money in your pocket when you balance the salaries of college educated folk against everyone else. That doesn't make any sense. The guy who doesn't have an interest in doing anything more challenging than flipping burgers shouldn't figure into this discussion. The better approach is to compare specific types of work. In other words, the question isn't whether college grads make more money than those without the sheepskin; the question is do biochemists (for instance), make more money than bricklayers? The answer happens to be no.

The average income for a senior biochemist is just over $59,000 per annum; a bricklayer can expect to earn a little over $54,000 a year. But that isn't the whole story. The biochemist will spend at least $50,000 to collect his BA from a state school and over $100,000 if he decides to attend a private school. [1]After that he will need to finish a graduate degree and gain "at least 5 years of experience in the field or in a related area" before he can expect to achieve the national median income for his profession. [2] The cost of the graduate degree will be in the neighborhood of an additional $100,000.

We also need to consider lost wages during the four to six years it takes to earn the BA (very few students complete their degree in the "normal" four year time frame). Figure that in and you are looking at an added loss of $60,000 to $160,000. This assumes the loss of a mere $7.50 an hour on the low end and $13 per hour on the high end - with no raises. (We'll give the biochemist the benefit of the doubt and ignore the fact that he would not be earning a market wage while he finished his graduate program. He may, however, be able to live on the stipends he receives as a grad student. For the sake of making this comparison easy let's ignore the graduate years and focus on the years spent acquiring the BA.)

In a nut shell the biochemist leaves college at least $110,000 behind the bricklayer. Meanwhile the bricklayer has been working as an apprentice (at a starting wage in the neighborhood of $10-$13 per hour) [3], and if he is reasonably competent he will have achieved journeyman status about the time the biochemistry student collects his BA. This means that he will begin making the $54,000 yearly salary when the biochemist is starting his graduate program. The biochemist will not reach the median salary of a "biochemist III" for another five years or so. Bottom line, the bricklayer is $110,000 to $200,000 ahead of the biochemist - a head start that the biochemist will never be able to overcome.

"So what" you may say. "Comparing a biochemist and a bricklayer is arbitrary. It's no more relevant than comparing all college grads to non college grads." Perhaps: yet take a look at these examples chosen randomly from the Monster.com site.

When we consider professions requiring a degree we see that the median expected salary in the United States for a typical:

Biologist V is $88,625.

Staff Nurse - RN is $58,924.

Accountant III is $58,866.

Social Worker (MSW) is $48,845.

Engineer V is $102,298.

Activity Director - Nursing Home is $34,385

High School Teacher is $50,562.

Biochemist III is $59,100.

When we consider professions that do not require a degree we see that the median expected salary for a typical:

Electrician III is $48,739.

HVAC Mechanic III is $50,591

Carpenter III is $44,793.

Machinist III is $49,075.

Bricklayer, Sr. is $54,019.

Plumber III is $50,138.

Insurance Agent is $41,287.

Automotive Mechanic III is $49,563. [4]

In addition, "business administration and economics/finance graduates" receive an average of $38,254 and $40,630" a year respectively upon graduation. "The average starting salary for marketing grads" is $34,712 and $41,058 for accounting majors. "Liberal arts graduates" earn $30,212, per year upon graduation. "Starting pay for English majors" is $31,113; "political science majors," $32,296 and "psychology majors" enjoy? "entry-level salaries averaging $28,230." [5] Meanwhile responsible working folk are already making twice as much after four years on the job.

As you can see most college degrees are an incredible waste of time and money. The exceptions are the professional degrees; law, medicine, engineering and the like. Even those occupations don't really require a formal degree but that's another article for another time. And remember, these figures do not address the cost of the degree and lost wages.

Moreover, the non-degree vocations are often more welcoming to an entrepreneurial spirit. The figures above reflect the circumstance of a skilled worker collecting a wage, not business owners who have the drive to write their own financial ticket. Truly the sky is the limit for a self employed plumber, electrician, mechanic or insurance agent who wants to build a business employing and managing others in order to boost his own bottom line. Those folks pull down six figure incomes. I am personally acquainted with insurance agents and carpenters who were making well over $100,000 a year by their middle thirties. Your typical biologist or engineer would still be trying to pay off their college dept at that age - while making substantially less money than the insurance agency owner or the building contractor.

The college degree is also a waste of time from an academic standpoint. Everything you are supposed learn at the university you can learn on your own if you really want to. But then, most people don't go to college to learn. A large percentage never graduate. Those who do are not really educated in the classical sense.  Rather, they are trained to embrace the subservient, anti-intellectual, self-centered, godless worldview required to maintain the current bureaucratic state.

Honestly, college is for people who are unwilling or unable to face the responsibility of the real world. It is a place where people go to extend their childhood (and generally screw up their lives), using Daddy's money or tax dollars confiscated from the plumbers, bricklayers and insurance agents who are responsible enough to earn their own living.

The primary reason that our society places such a high premium on a college education is because people have been brainwashed into believing that you cannot make it in life without a degree. This fiction is pushed by big business and government because it allows more time for the establishment to dumb down the populace thus creating the sheep-like servants necessary to maintain the bureaucratic state.

Top Universities in Asian Nations to Fulfill Your Study Abroad Ambition


Students in search of high quality education are no longer hesitant to adopt a foreign destination. International education has come a long way with thousands of students studying in numerous universities and colleges in Asia, Europe, North America, South America, Australasia, and Africa. Many Asian countries like Singapore, Malaysia, Hong Kong, China and India have brought about welcome changes to their higher education systems to draw students from various parts of the world. These countries are nowadays home to some of the world's leading universities and colleges. In this article, you'll find a number of reputable universities in Singapore, Malaysia, and Hong Kong.
   
Singapore has made its mark on the world map by offering an absorbing learning atmosphere to international students. The country boasts three chief domestic universities along with numerous study centres of foreign universities. Even though technology and management are the two most dominating disciplines here, equal stress is given to other disciplines like law, education, nursing, and engineering. The three top universities in Singapore include the National University of Singapore (NUS), Nanyang Technological University, and Singapore Management University. The NUS is the oldest as well as the biggest university in Singapore offering both bachelor and master level courses in many subjects. While bachelor level courses are offered in architecture, business administration, accounting, computer engineering, dental surgery, law, industrial design, chemical engineering and civil, master level courses have specializations in urban design, management, pharmacy, bioengineering and computing. Nanyang Technological University is famous for its research works involving scholars from different cultural backgrounds.

Various universities in Malaysia can be categorized as public and private universities. While public universities are funded by the Malaysian government to upgrade the standard of education in the country, private universities are established in joint collaboration with other prestigious universities from countries like the UK, USA, Australia, New Zealand and Canada. The names of top universities in Malaysia are the University of Malaya, Universiti Teknologi Malaysia, Universiti Tun Hussein Onn Malaysia and National University of Malaysia. As the oldest university in the country, the University of Malaya emphasizes the importance of knowledge for development. It offers bachelor programs in accounting, arts, biomedical engineering, business administration, computer, electrical, manufacturing and telecommunication. Postgraduate courses are also available in science, applied statistics, biotechnology, education, information technology, etc. Universiti Teknologi Malaysia is the premiere university in the field of engineering and technology. Above 200,000 graduates have already passed from this esteemed university since its inception.

Hong Kong, which was under the British rule for more than 150 years, is highly favored by international students since English is the chief medium of instruction here. After returning to the control of China, this leading commercial centre of the world has made substantial progress in higher education. There are approximately 10 universities in Hong Kong. The majority of these universities offer popular study abroad programs for overseas students. The list of top universities in Hong Kong contains Chinese University of Hong Long, University of Hong Kong, Hong Kong Baptist University, Lingnan University and City University of Hong Kong. The University of Hong Kong is the most erstwhile university offering undergraduate and postgraduate courses in business administration, language education, journalism, engineering, law, finance and economics.

Thursday, November 17, 2011

Small Business Administration Background

The Small Business Administration(SBA) was established in 1953. Since that time the agency has dispensed huge amounts of money in loans and loan guarantees, contracts, consulting assistance and other programs for business across the United States.

The seeds of the formation of the SBA were sown within the challenges of the Great Depression and World War I and grew due to numerous predecessor organizations.

Earlier Small Business Administration Agencies

In 1932 Herbert Hoover instituted the Reconstruction Finance Corporation. The agency sought to ameliorate the consequences of the Great Depression.It sought to achieve this through the establishment of a loan program to support businesses adversely effected by the Great Depression. It had been adopted as the personal project of Hoover's successor, President Franklin D. Roosevelt.

The need to assist small business intensified with the onset of World War II, when they were placed at a competitive disadvantage vis-a-vis larger concerns. The Smaller War Plants Corporation was formed in 1942 to help with minor businesses, enhance their financial strength and enable them to more fully take part in the war effort. The Smaller War Plants Corporation accomplished this through providing loans directly to private entrepreneurs, providing incentives to large financial institutions to increase lending to small enterprises and acting as an advocate for small business in the federal procurement process.

After the war the SWPC was absorbed into the Reconstruction Finance Corporation. In addition to the services offered by the RFC the Commerce Department also had an Office of Small Business. The charter of the Office of Small Business was primarily educational, predicated on the stance that the lack of success of many business was insufficient access to information of operating a business and business skills. The Office focused its offerings on pamphlets and management consulting to individual entrepreneurs.

Through the Korean War the Congress created yet one more agency focusing on small business, the Small Defense Plants Administration. It carried a portfolio just like its predecessor Smaller War Plants Corporation with the exception that small business lending authority remained with the Reconstruction Finance Corporation. The Small Defense Plants Administration performed initial screening and provided counseling services to small businesses and provided certification that they were qualified to receive government contracts. The businesses then entered the loan process of the Reconstruction Finance Corporation.

The Founding of SBA

To streamline government support for minor business President Eisenhower proposed the organization of the Small Business Administration and it was developed by Congress in July 1953." The charter also stipulated that SBA would ensure minor businesses a "fair proportion" of government contracts and sales of surplus property.

Initially the SBA concentrated on providing direct loans to small businesses, guaranteeing bank loans and making loans to victims of natural disasters. The Administration also provided help to small businesses to obtain government contracts and provided management consulting and technical assistance.

The Investment Company Act of 1958 established the Small Business Investment Company (SBIC) Program, under which SBA licensed, regulated and helped provide funds for privately operated and operated venture capital investment firms. They specialized in providing long-term debt and equity investments to high-risk minor businesses. Its creation emerged as the result of a Federal Reserve study that discovered, in the basic form, that these businesses cannot get the credit they needed to keep pace with technological advancement.

In 1964 the SBA expanded its portfolio to join the War on Poverty, with the Equal Opportunity Loan Program (EOL). The Equal Opportunity Loan Program presented citizens living below the poverty level with the chance to receive credit with reduced collateral and application requirements. This enabled businesses with sound employment opportunities to obtain the financing that they needed to pursue them.

SBA Today

The breadth and scope of programs offered by the SBA has never been more extensive than it is today. The SBA helps and is an advocate for all U.S. businesses in every enterprise category and every State and Territory. Whether its providing procurement assistance for federal contracts, management consulting, or outreach to women, minorities and veterans, the SBA is an able partner. SBA also provides loans to victims of disasters and specialized advice and assistance in international trade.

Online Executive Business Administration Career Options

Numerous challenges and objectives need to be addressed and completed daily in a business. The top people who implement and follow up these activities are the men and women who make up the executive business administration industry. Many online accredited colleges and universities are designed to successfully prepare individuals to enter numerous career positions within the industry. This preparation for a career starts with an education in business and business administration.

To enter the industry as a business executive most students usually gain an education in business administration. Students usually obtain a master's degree in business, which can include concentrations in business administration, management, international management, and leadership. Executives strive to create policies and goals to meet a company's objectives. Schooling in business is extremely crucial because an individual has to understand how a business works in all of its functions in order to manage the business and its employees. Top executives in businesses direct the overall business, implement strategies, set a direction for everyone to follow, and more.

Education prepares students in a number of ways to handle their responsibilities at an executive level. A master of business administration degree program is a solid approach to becoming a business executive. Students should consider what aspect of a business they want to manage because most colleges offer different concentrations in business administration. These can include finance, leadership, international leadership, marketing, and more. Once this initial question is answered students will be able to enroll in a specific program and be one step closer to reaching their desired career within the industry.

Within each respected field of study a satisfying career is available in a multitude of ways. Students who hold a degree at the master's level of education can work as a business executive in small and large businesses. With a degree a student can become a financial executive, which will have them responsible for a business' financial accuracy and reporting. These individuals oversee fund investments, financial goals, and objectives. They manage the businesses money through supervision of activities, fundraising activities, mergers, and more.

Becoming an information business executive is another option for dedicated students who earn an education. The information executive is responsible for their businesses technological direction. Job duties include proposing budgets, making decisions about staff training, and overseeing purchases for needed equipment. Their work with other employees includes hiring computer specialists and information technology workers. Once hired the professional supports the efforts of these employees on information technology related projects and assignments. Information executives oversee all the aspects above while providing the business with a vision to use information technology as a competitive tool.

Wednesday, January 5, 2011

MBA Business Administration Degree Programs For Great Career Opportunities

By Rohan Sinha

Having an MBA Business Administration degree is a great tool to create a niche for oneself in his/her industry. Unlike other post-graduate courses, it is a professional course and makes students industry ready. Even for those who are already working, pursuing an MBA program helps in moving up the corporate ladder. Pursuing an MBA is undoubtedly a wise investment of time and money and this also makes oneself more marketable and attractive as an employee. Isn't it great?

The 2 year MBA Business Administration program is in huge demand all across the globe as it hones students' managerial skills and knowledge, thus, making them industry ready. More and more management colleges are coming up to meet the demand for management graduates, providing state-of-the-art facilities and innovative teaching methodology. The program develops the managerial and leadership qualities of the students and thus, turns the students into hot properties in the global job market. Organizations, across the globe, are happily offering attractive pay-packages to these graduates.

However, one should choose a well-reputed BBA/MBA college in Delhi so as to brighten his/her chances for a great career. Part time/executive MBA programs come as a boon for the working professionals who find it impossible to purse a full time MBA program. With these part time courses, they can continue with their jobs and at the same time, earn their MBA degrees. Besides MBA Business Administration Program, one can opt for MS in Information System and give his/her career a real boost. There are many management colleges offering MS degree programs all across India. One only needs to do a little online research about the leading management institutes and programs offered.

So, no matter whether one wants a full time program or a part time/executive MBA program, there are plenty of options to choose from.

Online Business Administration Career Training

By Renata McGee

Work inside the realm of business administration is more wide spread than people think. A degree in this highly versatile career will enable individuals to function as an administrator for many different industries like marketing and government. Many online accredited colleges and universities offer degree distinctions in business administration to properly prepare students for the professional workplace.
   
Professionals in this industry manage business operations and help make major business decisions. Through the implementation of decisions a business administrator focuses on organizing the workplace and its employees to work towards the businesses overall goals. Students can learn how to effectively perform career duties through an online degree. Through numerous courses that will include accounting, statistics, business planning, and more, students will confidently step into the professional industry ready and able to be a strong leader. Prospective students have a wide selection of study programs available to them online. Online study will enable many students to earn their degree while working from home and will enable them to finish a program faster than attending a traditional college.

Online career training offers programs from an associate degree to a doctorate in the field. Students will be able to pick a program that fits their career goals. Each level of education offers different areas of concentrations, which will provide the education necessary for individuals to step into their desired career. Areas of concentration include broader subjects like criminal justice and finance. Some degree programs provide more focused topics like sports management. No matter what area of the industry a student wants to work for there will be a degree within business administration that will allow them to step into a leadership position in that area. Lets look briefly at what some of the degree options offer students in this area.

An associate degree program in this area allows students to gain basic knowledge that will prepare them for furthering their higher education. Students can enter a program with a concentration in marketing and sales. Students will learn the fundamentals of business with course topics that include critical thinking, math skills, sales, management, and more. Students will gain knowledge to step into entry-level careers where they can be a marketing researcher, sales representative, stockbroker, and more.

A bachelor degree is usually a career requirement that employers have. Within this major programs will teach students more in depth knowledge about the career through courses that include statistics, accounting, development, management, and more. Students will learn how to use information technology to interpret problems, create plans, show data, and recommend strategies based on their knowledge and expertise. Within the business students will evaluate the conduct of business practices through ethical, social, cultural, and politic issues as they arise within the workplace. The standard requirement for students to gain a bachelor degree is completing around 120 credit hours. Upon completion of a program students will have a wide selection of careers. Further education will open executive and managerial positions within the profession and enable students to perform multiple functions.