Published on January 17th, 2019 | by Sunit Nandi0
Is education really worth investing in?
As outlined by Benjamin Franklin’s “The Way to Wealth,” an investment in education pays the best interest. The majority of people agree on the fact that a qualitative education is a milestone for future prosperity. At the same time, others believe that a university degree has no impact on their career. However, both of the groups are right. There are enough examples of successful entrepreneurs among those who got by without a university qualification and those who obtained an MBA degree.
In this article, we will discuss the necessity of education, its quality, and whether an education investment is a proper allocation of time and money.
Entrepreneurship versus employment
Allegedly, entrepreneurs are considered to be extraordinarily successful people. What is more, the vast majority of people think that the latter does not require an education. An example of Steve Jobs shows that a person can reach a great success without studying at university. But those who support this idea forget to take two main points into account.
Firstly, not all people want to be entrepreneurs. We are different, and a great part of the population prefers to be scientists, artists, firefighters, IT specialists, etc. For these job positions, studying to obtain a degree is reasonable. In some cases, such as firefighting, training and appropriate education could not only help to save their own life but also prevent the victims from being injured.
Secondly, each of us has a unique background, and it would be illogical to argue that all people have the same capabilities. For example, teenagers whose parents are entrepreneurs are more likely to follow the same path. And vice versa — those who never occupied managerial positions have fewer chances to launch a business or a startup.
When talking about education quality, our readers from different continents may be of the different opinions about it. Indisputably, lecturers’ proficiency level, study programs actuality, and the college equipment’s condition vary from country to country.
It is not the surprise that students from poorer regions tend to raise the question “why invest in education” more frequently. Due to the globalization process, the tendency of the brain drain is growing. Teachers who possess useful knowledge are willing to abandon Third World countries and move to the developed ones. Those, in turn, can offer useful and practical study programs while periphery suffers from the poor quality of education.
Undeniable is the fact that education of any level has a positive impact on an individual’s living conditions. According to the Unicef, each year spent on studying results in an additional 10% growth of your income in the future. Thus, it should be mentioned that even if education is not a profitable investment, at least it is a risk-free allocation of money resources – you will totally get your funds back later.
Nowadays, most of the companies require a candidate to present a university degree of at least the Bachelor’s level. Sometimes the government prohibits employers from hiring people without the correlating qualifications. It is quite a reasonable restriction.
First of all, having a university diploma is a guarantee not only of a person’s knowledge but also of their ability to be self-organized and disciplined. Student life gives us a lot of useful soft skills on self-management and meeting the requirements. For instance, if students combine studying and working, they might have faced challenging obstacles, such as lack of time to complete everything in time for their deadline. They’ve found ways to deal with that issue, one of which is delegating some of the tasks to other people. For instance, it is a good idea to empower special agencies, such as The-Essays (http://www.the-essays.com/) to complete your home assignments.
Secondly, higher education gives the basic experiences of being a responsible member of society, which is mandatory for any job position. Thus, studying at university or college expeditiously improves an individual’s ability to go through limitations, overcome challenges, and function within a team as its member. For instance, the European education system gives each student an opportunity to study abroad within the Erasmus+ program. It is a considerable advantage in a CV that represents exceptional adaptation and internationalization skills. According to the European Commission, the majority of Erasmus graduates experience no difficulties looking for a job.
To summarize, in order to answer if investment in education is lucrative, the person should evaluate their background, quality, and rankings of the university they want to attend as well as research all the future career possibilities it offers. However, it should be mentioned that nowadays education is considered not as a benefit but as a must-be thing. In other words, it is abnormal if the person has no diploma. Employers treat such applicants with a certain amount of skepticism.
All the above mentioned facts lead to the conclusion of higher education being a must-have option unless you are resourceful enough to launch your own business without prior experience or training.