The Link Between Higher Education and Success

Posted by Aleksandar M. Velkoski on October 19, 2009 under General Leadership | Be the First to Comment

I’ve always been fascinated by discussions that I’ve had with my colleagues regarding the  link between “higher education” and “success” (success defined economically). To my surprise, more often than not I end up disagreeing with my colleagues about the importance of higher education. I thought that this was a pretty cut-and-dry topic, but I’m finding out that it is not as clear-cut as I thought it would be.

For the most part, I am very pro-education. I see the advantages of education not only from the context of knowledge attainment, but also practical application. I see higher-education as a method of personal and intellectual growth that often (but not always) encourages greater intellectual maturity and a more strongly developed level of self-awareness. I also see higher education as a way to differentiate those willing to work hard and take-on responsibility from those who are not. However, I want to note that this discussion should be framed in the context of “all else being equal.” I realize that some people may not have the opportunity or ability to go to college, for a variety of reasons, and that there are tons of educated people out there not working hard and often making dumb decisions (including myself in the “making dumb decisions” category). There are also very hard working and successful non-educated individuals and I do not, by any means, want, or intend, to discount their intelligence or work ethic. Education is not for everyone – the context is “all else equal.”

My opponents, who are highly against education (not against education from the standpoint of it being completely worthless but from a cost-benefit standpoint), are usually educated people themselves. I’ve noticed that more and more of my colleagues are siding with the anti-education movement. Generally speaking they believe that the costs of higher education significantly out-way benefits that they could receive in the workplace over their lifetime. They claim that the payback for higher education is often times too long down the road and that money toward education could be better spent opening up a small business or investing in the marketplace. To tell you the truth, I don’t think my opponents are all that misguided.

For example, let’s look at higher education in the context of the current business environment. How many college educated kids are moving back in with their parents because they cannot find a job or support themselves? How many degree holders are finding their benefits, salaries, or even their jobs cut? How many educated people, who have spent years and years working for an organization, making it profitable, have been eliminated from their organizations just before retirement?  Many of these people have been successful and many have not. What would have happened to these individuals if they would have taken their initial investment in education and put it toward a local, national, or international small business? What position would they be in today? Better-off? Worse-off? The same? What if the market rebounded? Would they be in a better position (compared to those without higher education)? What other advantages, other than economical, does education bring?

There have been studies that have shown that higher education usually correlates to greater economic success (on average). There have also been studies that have shown success tied more toward an individual’s personality and leadership characteristics  than their level of education. Regardless, it is clear that both sides of the coin have logical, and fairly strong, arguments in support of their positions. I prefer to fall on the side of education because of the advantages that I’ve been able to attain from it (or at least I perceive it that way). However, are these advantages tied to my education or to my unique personal traits and leadership capacity? Where would I be today if I didn’t go to college? If I used those funds to invest in a small business? I often wonder.

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