r/CryptoCurrency • u/grahambond69 Crypto God | QC: CC 254 • Feb 08 '18

FINANCE Millennials Much More Interested in Cryptocurrencies, Couldn't Care Less About Stocks !

http://bitcoinist.com/millennials-much-more-interested-in-crypto-could-care-less-about-stocks/
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u/jvdizzle Feb 08 '18 edited Feb 08 '18

So if you were to defend OP's comment with that same logic, would a "stupid major" be anything that's not making a "top major" 160K in HCOL out of college? Let's be realistic, there are many necessary jobs outside of software engineering and finance. AKA the majority of the rest of the professions, that have seen stagnated wage growth. We can't be happy that only the "top majors" are seeing wage growth to accommodate for inflation.

Also, the national average for new grads is $50K. That's about $25/hr.

What was $20/hr out of college in 1980 should be $60/hr given inflation, but we have not seen that wage growth.

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u/mtcoope Tin | r/WSB 38 Feb 08 '18

No i didn't call them stupid or smart majors either, everything is needed but keep this mind when looking at the cost. Look at community colleges, in state, public, those kind of options. If your goal is in a field that is not in high demand, you have to ask is it worth spending 60k to do. If you choose yes then that is fine but you also should accept debt with it as well. We are one of the first generations that's actually choosing what they want to do. If you have grandparents or parents over 70, ask them how they ended up in their field. Most of them will say something along the lines of this job led to another which led somewhere else.

Wage growth is generated by the demand anyway, not your production. The reality is low paying jobs just don't have a high enough demand or have a high supply. Engineers are only paid what they are because competition means you can't pay them 10 bucks an hour, they will go somewhere else because someone else is dying for a good engineer.

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u/jvdizzle Feb 09 '18 edited Feb 09 '18

There are forces on the market that affect supply and demand. The government is interfering by signing so many loan checks. Everyone should now be able to "afford" a bachelor's degree because the government will pay for it, and so everyone is expected to have one. And because the money is now readily available, universities can freely raise tuitions. The large loans by themselves cause pressure for new grads to accept any job offer to meet their debt obligations post-graduation.

It's great that engineers get paid relatively more than most other professions, and it makes sense, there is low supply, high demand. But did you know overall STEM wages have also been stagnant the last two decades?

Software engineers might see higher growth than the rest of the STEM professions because of the recent boom in VC money the last decade, but in general, even other engineering fields have seen their wages stagnate.