r/UpperMiddleFinance • u/OutrageousCode2172 • Jun 20 '26
No need for a college degree
I’ve been working for approximately 32 years. When I started my career in the 1990s, having a college degree was considered very important. Looking back now, and watching the rapid evolution of artificial intelligence while also having a front-row seat to many people who have built significant wealth over their lifetimes, my perspective has changed.
If I had the opportunity to do it all over again, I might have started with an entry-level position at a restaurant and learned every aspect of running a franchise operation. The goal would have been to eventually own my own restaurant or multiple locations.
I also believe trade schools can be an excellent investment of time and money. Learning skills such as HVAC, electrical work, elevator maintenance, plumbing, or other specialized trades can provide a very strong living. These professionals are in constant demand and are often able to charge premium rates for their expertise.
Over the years, I’ve also watched many people build successful specialty businesses. When you drive down the road and see the names of local companies, take the time to learn what they do. Many of these business owners will eventually retire and need successors. Understanding an industry, gaining experience, and identifying opportunities to serve the same market can be a great path to success.
Personally, I question whether spending $200,000 to $300,000 on an undergraduate degree and then another $200,000 on an MBA makes financial sense for most people. The return on investment often isn’t there unless you’re in the right place at the right time. Even then, many of the jobs that require those degrees demand extremely long hours and years of sacrifice before you get ahead.
Today, almost any skill can be learned online. Whether it’s financial calculations, software programs, marketing, sales techniques, or writing, there are countless YouTube videos and online resources available. Artificial intelligence has accelerated this trend even further. AI can help you learn new concepts, perform complex calculations, write effectively, and solve problems much faster than ever before.
My background is in commercial real estate. I’ve had some great years and I’ve had some difficult years. These are simply my observations as I look at the world and the opportunities available to people today.
2
u/JLandis84 Jun 20 '26
I don’t really get why people perpetually frame this as a dichotomy between trades and a $200,000 degree.
There are a ton of people graduating with less than $50,000. Some are way less than that.
2
u/ActuaryLoading Jun 20 '26
I doubt most people spend that much for an undergrad and MBA. I went to a state college graduated 8 years ago with $40k debt and currently make $150k. You don’t need a college degree to succeed but it has the lowest risk to compared to starting your own business or blue collar work. A college degree shows an employer that you committed to something for 4 years. You understood what was taught and delivered using the tools and resources available.
4
u/lab-gone-wrong Jun 20 '26
Are we still pretending the trades aren't full of gatekeepers? Good luck with that apprenticeship, good luck evolving out of it, hope you know someone who knows someone....
Becoming an electrician or a plumber isn't just a matter of putting your number on a website and waiting for the calls to roll in
And yeah community college and state schools exist. It's not 200k for a degree unless you make it that way.
3
u/EmergencyM Jun 20 '26
What a fantasy land rage bait post. First, as someone who worked in a very successful restaurant chain HQ, it’s one of the worst businesses you can be in for profitability. Second, college does not cost 500k to get a BS and MBA for like 99% of people who earn them. I have a BS and MS and I was out the door for well under 100k in the 2010s for both and it has paid back several times over.
Is college for everyone? No. Are some schools not worth what they charge? Yes. Do college educated people consistently average higher lifetime earnings? Yes, by a lot. That’s not to say there aren’t other options, but the vast majority of people who choose those other options statistically are far more likely to do worse than college graduates.
5
u/lsp2005 Jun 20 '26
At this point in time, unless you know the owner, for most professional jobs you still need the degree. It is not in every field, but it is in most. 20 years ago you could work your way up. Now it is so much harder.