I’m a prime candidate for supporting the author’s points. As I mentioned in my Master’s thesis, roughly 43% of tuition in the United States is paid by loans, and on average, undergrad students leave college with tuition debt in excess of $46,000.1 My education cost me nearly double that amount, and I paid for my degrees primarily with college loans (Mr. Gulati would be pleased to know that I've been paying off my debt very aggressively).
However, the focus of the Harvard Business Review article lies not so much on the cost of post-secondary education, but on life choices and limitations. An overarching theme runs throughout the article; it’s a depiction of well-educated early- and mid-career professionals as tragic victims “trapped” in their careers by the debt associated with their high-priced college degrees.
Whatever.
There’s an old joke: “Why does divorce cost so much? Because it’s worth it.” Well, kidding aside, college costs so much because it can be worth it. A simple and unpopular point to make is: those who pursue college degrees know that a post-secondary education can commonly open up opportunities that would not otherwise be available.
Americans know college degrees can be essential to achieving their career goals; in 1970, 28% of jobs required at least some college education; as of 2008, that number had risen to 60%. Average W-2 earnings for a high school graduate in this country are 74% lower than the average for a college graduate.1
Economic recession has widened the divide in the United States between graduates and non-graduates, in terms of career stability. In August 2010, among individuals above age 24, the unemployment rate for those possessing a bachelor’s degree was 4.6%, whereas the rate for those without a bachelor’s degree of 10.3%. In December 2007, at the onset of the recession, the gap between these percentages was 2.6%. On average, laid-off college graduates are unemployed for about two-thirds as long as their non-graduate counterparts. 2
That’s not to say college costs haven’t been rising at impossibly steep rates for the past several decades. From 1999 to 2004, public colleges in the United States raised tuition 46% in aggregate1! The point is simple: students know college costs a lot, and so that should be a motivator to think hard about their career interests when choosing a degree program to pursue in college.
Life doesn’t always follow the practical path we lay out, however. Sometimes life deals out intense moments when you’re unsure of whether you want to stay on the same career path. Maybe you’re second-guessing why you chose your current job—or your career as a whole. There are probably a number of contributing factors, and some pretty significant ones.
Don’t jump! At least not yet.
Times like these, when you’re having some pretty significant feelings, thoughts, and realizations, can tend to be emotional times, laden with second-guessing and frustration. Give yourself some credit. Acknowledge that there are some valid reasons for what you’re thinking and feeling. Veering from your original career path could be exactly what you need. But one poorly thought-out, hastily executed career move can really mess up your life. You don’t want to continually switch career paths time and time again, as that can negatively affect how potential employers will perceive you and your stability as a potential hire. The decisions you are weighing are really important, as they will impact your life in a number of ways—so give yourself the time and disciplined approach you deserve.
Stay logical and reasonably rational, and try to focus on one thing at a time; in time, a plan will emerge. Think about the reasons for your dissatisfaction before you give a great deal of thought to what it is that you would rather be doing. Seek advice from people you trust, and people who have made sound decisions. Speak with people who know you and are willing to be candid and honest with you.
More importantly, look inward; not every answer will be clear, but in all your introspection, be honest to yourself. Think thoroughly about what it is that you don’t like and why you don’t like it. Be cognizant of your personality. Some people just simply get bored very easily. For them, virtually anything, even a very fitting and rewarding career path, might get a bit dull. Other people just don’t know how to be content and happy. Strange as it may seem, sometimes factors completely unrelated to work can significantly impact our outlook, and even convince us that it’s the job’s fault. The possible reasons for job dissatisfaction are too many to name. Try as hard as you can to figure out what you want. Also, think back to a point in your career when you felt differently, and reconnect with what it was that made that you feel content or fulfilled at that point in time.
List out the things that are causing you discontent or uneasiness in your job. Which of them are within your span of control? Think about what you have the power to change. Then make some changes and observe how you feel.
Resolve to come up with a plan. Maybe that plan is to quit and start a business. Or perhaps the plan is to stay home and raise child(ren). Your plan might be to travel the world and do volunteer work—or just never work again. Whatever the case, come up with a real plan, a whole idea of what you’ll do—one that is holistically fulfilling and also sustainable to support a life through which you experience the enjoyment and other things you desire. The plan doesn’t have to be drastic, and it doesn’t have to happen quickly. Envision yourself several years into that plan and whether the changes will have made a great difference.
Realize that, regardless of how intriguing some careers are, none are 100% fun, 100% inspiring, all the time. Even the most amazing jobs and business ventures have their challenges. So be as objective as possible in trying to compare different career paths or life paths; really spend time trying to envision the positives and negatives and what will work best for you. This is an important time to be a realist.
Don’t waste your time and energy feeling sorry for yourself; don’t get caught up in apathy. When you’re discouraged or confused, it can be easy to start slacking up on your current endeavors, including but certainly not limited to, work. As a result, your energy will dip and your relationships and your work quality will likely suffer, and even the things that you do enjoy about your job will start to become burdensome due to the weight of your reluctance and poor decision-making. Instead of feeling sorry for yourself, push yourself to perform at a high level. You’ve probably got a lot on your mind. Don’t ever compromise your emotional well-being, your reputation, or your livelihood at this important juncture. Nothing is worth self-destructing.
Pause and deliberately consider what’s at stake; don’t underestimate the significance of a job and career that support your life pursuits. Part of a rational approach to this puzzle is being cognizant that you shouldn’t expect all of your enjoyment to come from your professional life! If, for example, you dislike your job because it feels artless and sterile, don’t assume that jumping to a very creative job is going to make you completely content. Most people enjoy a good mix of rational- and creative-minded work. If you don’t see much room for creativity in your current job, think also about your hobbies and personal pursuits of the arts. As an example, you might have a knack for accounting and a career in it, and in your personal time you might play in a band or paint. Many people haphazardly decide to leave their careers for what they consider noble pursuits of one sort or another, and the change ends up only helping in the short term. There’s nothing wrong with making money and being able to comfortable support your hobbies. Acknowledge that your skills and your spirit won’t always run in the same direction, and that there’s nothing fundamentally wrong with a career that is stable and relatively predictable. Regardless of what you end up choosing to do with your career, keep being energized by the things you love, and, most definitely, pursue them.
No matter what path you choose, there's a whole lot of bright side. If you have a degree, you’re in a much better position than many others. As a recruiter I can assure you, I’ve never ruled out a candidate because she or he has a degree. Further, recruiters are in many cases very open to hiring candidates with very little regard to college major. Think opportunistically, creatively, and positively about leveraging your assets, including your credentials and your most proficient skills—and not just your interests.
…just don’t look for empathy on account of your credentials “holding you back.”
1
Ulrich, C. 2006. Generation debt. New York: Warner Business Books. 2 Young, M. 2010a. Social Security. Detroit: Greenhaven Press.
