It won't be priced out but disrupting the current model in terms of cost and quality should definitely happen.
That should happen in a lot of industries that somehow manage to protect themselves and keep the status quo going though. Powers that be tend to be good at protecting their interests.
That should happen in a lot of industries that somehow manage to protect themselves and keep the status quo going though. Powers that be tend to be good at protecting their interests.
Excellent post
In the year 2015 and beyond, paying tens (or even hundreds) of thousands of dollars to prepare oneself for a life as an employee seems a very poor ROI
The USA and the Western world in general have frankly raised our standard of living to such a point that there is little reason for employers to pay more than $20-25 an hour for upwards of 90% of Jobs. Both service and manufacturing have been so progressive and streamlined that the pool of people who can do most jobs is large and plentiful.
The days of starting with a company at an entry level of (using 2015 dollars) $10-15 an hour and then reliably seeing pay raises of 3-5% annually for 20-30 years are long gone.
As ILLINI notes, save for specialty professions (medicine, engineering, science&research), choosing a life of being an employee assures one of being very unlikely to ever get paid more than the household average income.
And with regards to medical, the past half century of doctors and medical personnel commanding higher than average incomes is falling to the wayside as the pool of qualified medical personnel is huge and the populace in general is becoming smarter and more able to self-medicate.
As for the theme of the OP by my forum pal ENFUEGO (smile) astutely note, if someone feels grumpy about how much the CEO of a company gets paid, MYOFB
And while you're at it, start your own business and build it to a level where it is producing hundreds of millions in annual revenue. Then lead by example and see to it that you and/or your stockholder elected CEO is paid a more middlin' wage than whatever you originally deemed to be Too Much.
Oh and most certainly if one has been paying any attention to the true financial opportunities of the legal profession in the 21st century, it would be fair to say that spending tens or hundreds of thousands of dollars to get a law degree is at best a long shot to lead one to financial independence.
Some of my closest colleagues are long time attorneys and can point to plenty of empirical data showing that the averrage income in first ten years of law school grads is likely in the $500,000 range due to the glut of new law school grads created during the past quarter century
Some of my closest colleagues are long time attorneys and can point to plenty of empirical data showing that the averrage income in first ten years of law school grads is likely in the $500,000 range due to the glut of new law school grads created during the past quarter century
CEO aka Boss don't get either so your not alone Enfuego...... If they shared with their employees who are part of the reason they are successful this probably would mean more everyone. Now if the CEO did all the work themselves then they can have the millions!
Enfuego do you understand now?
Uh no. If the CEO/owner is the boss, they can pay themselves what they want. When you own the company, that's what you get to do.
They have workers and pay them accordingly. Just because there are guys that do the actual physical labor, doesn't mean they should make as much money as you. If you didn't create the company, they wouldn't have a job.
hno:
I don't have an MBA (and have never said I did), just an undergrad business degree at a top program and feel exactly the same as Illini. I left college with about 40k of student loan debt, about half of that now. Scholarships,parents, and a summer job assisted on some of the costs. Not sure what I was supposed to learn while I was there. I came out cocky as hell and quickly realized I knew NOTHING about the real business world.
Going to college for a business degree can maybe be justified if you are walking into a family business, maybe. But otherwise it makes a lot more sense to spend that money on something specialized like medicine, engineering, etc.
Why are you getting so offended by Illni's post?:think2:. Heavy flow this morning?
Anyway, I think an MBA is only worth it if you are working at a company that will saddle the costs and you have a guaranteed significant pay raise/promotion waiting for you upon completion.
A ton of my fellow millennials jumped into an MBA program because they couldn't get a job out of college and this is a huge mistake. Now most of them are underemployed at best. There area lot of late 20's bartenders/substitute teachers out there with an MBA, 100k plus student loan debt, and zero real work experience.
Seems logical. More CEO money means less shareholder money. It also seems overpayment creates not only higher turnover down the rung but also social disorder. The wage gap lowers productivity and may even exaggerate the perception of actual inequality.
https://www.gsb.stanford.edu/insights/wage-imbalance-between-ceo-workers-sends-bad-message
https://www.gsb.stanford.edu/insights/wage-imbalance-between-ceo-workers-sends-bad-message
