There is a debate that rages throughout the halls of academia
and the business world. The debate is not new, nor can it easily be settled.
You see, it revolves around whether experience is superior to education and
visa-versa. You can imagine that the experience
side of the argument doesn’t get very much support in academia. So, most of the
debate occurs within the boardrooms of businesses all over.
Let’s face it, education is expensive. The average cost for
a private university is roughly $39,000 a year. Multiply that out by 4 and you
just paid almost $160,000 for your bachelor’s degree. Granted there are ways to
make this less expensive, but even in those cases you will end up spending
roughly $40k to $60,000 for your bachelor’s. That is a difficult pill to
swallow for someone thinking about coming out of college and not being able to
find a decent job right away.
I attended a financial
seminar about 10 months ago from a guy who wrote a book on the cost of college.
As he was doing his research, he discovered that the average student pursuing a
bachelor’s degree in very average subjects like communications were leaving
college owing on an average $180,000. This is because everything is charged,
and the students don’t pay attention to what they are spending. They just swipe their student card and go.
This blind spending creates a problem for these students coming out of college,
in that they are cash broke and unable to maintain a lifestyle that allows them
to enjoy the fruits of their labors.
It’s no wonder why the “give me my schooling for free” crowd
seems to be getting louder. They see the writing on the wall, and they don’t
want to be held responsible for their poor choices. This is a topic for another
article, and I had better stop there or this will become a very lengthy treatise
on the entitled mindset of today’s young society.
So, as many individuals who are unable to afford higher
education beyond High School look at their options, many are opting out of pursuing
a degree. They are going right to work trying to make something out of their
lives. They gain tons of experience and can do their jobs with great effectiveness.
Sounds good right? These people are good at what they do. They
are loyal to their employers. They have years of hands on experience over their
counterpart just coming out of college. So, what seems to be the problem? Where’s
this debate that I mentioned?
The debate lies in what happens to these non-college
educated peers over their college educated counterparts. Many times, they are
passed over for a promotion to allow someone with a degree to take the position.
How is this justified in the eyes of these employers? Simply put, a degree to
many employers is a sign that you can take orders and follow a prescribed regiment
to accomplish a task, or in other words, you can jump through hoops and bark
like a dog to come out on top. I know, that was a little harsh, but the truth
hurts, so get over it.
In my businesses I’ve always placed experience over education.
I view it as the best educator. A text book can only take you so far, and
lecture and demonstration can only prepare you for a very finite list of experiences.
While on the other hand, experience is a real hands-on education. The employee
is learning and gaining a deep understanding of the needs of the organization
and the area in which they work. This education is priceless and should never be
dismissed as being less important than the education received at college.
As a financial advisor I would rather hire a person that I
felt that I could train and teach to my specifications, rather than try to fix
the errors instilled by a professor teaching out of a text book. Life is
organic and changes rapidly. It takes someone with life experience to be just
as fluid and empathetic. I am a very particular person when it comes to how I
do business and what I expect from my employees, and I’ve found that experience
serves me better when it comes to hiring.
That’s not the case in all things. When it comes to a
doctor, I would rather have an educated person practice his trade rather than
someone who grew up with an interest in medicine and practiced on others. Education
has its place in society. I just believe that it is disingenuous to make a
blanket statement that education is always paramount to anything else and
trumps experience.
So, in conclusion; education is important, and experience is
important. Society should never tell a person that they have no empirical value
to society, but rather that worth is based on knowledge regardless of where you
acquired that knowledge.