Earning Money

In the past, when you turned 18, you got a job. Most people did not go to college. Heck, many didn’t even finish high school since they needed to start working to support their families.

Nowadays, most people don’t enter the work force until they are 22. Others find ways to continue to stay in school, either going to graduate schools or taking a fifth year or who knows what. Parents just seem to put up with it and let students go their ways.

It seems most college kids think the world is planned out for them. Their parents will happily pay for them to party and drink, an employer will pay them a $100k salary, and everything will be fine. College kids are willing to work….eventually, but they are deep-down very risk averse and afraid if things don’t go as planned.

With the current economic turmoil, I wonder if the current college bubble will be able to sustain itself. If you notice, many college kids eventually got jobs at investment banks (which no longer exist or are now much smaller) or hedge funds (again, many going under or cutting back their labor force). I wonder if there is an over supply of spoiled college kids that want to get that guaranteed paycheck at some New York based company.

Of course, if the current job market is horrible and college kids are not able to get jobs, more will just find ways to stay in school….forever. Whether or not their parents continue to support them remains to be seen. Others may tell the kid to find a job…even if it is at Burger King. So much for four years of schooling.

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