Bachelor of Arts? Enjoy your StarBucks Barista career.

Why a BA is Now a Ticket to A Job in a Coffee Shop

Too many college kids are living in Mom's basement, or working at Starbucks.  Like most personal finance columnists, I get the letters from them: what do I do?  How do I fix this? For many, the answer is grad school.  But I get the letters from grad students too.  A while back, I found myself talking to a professor whose school has a number of impressive-sounding graduate programs that were originally conceived as add-ons for a professional degree in law or medicine or business.  They are now attracting a number of students who just go for the standalone degree.  He didn't understand what the career path was for these kids, and he wasn't sure that they did either.

A new paper from Paul Beaudry, David Green, and Benjamin Sand argues that these worried kids--and their worried parents--are not just imagining things.  The phenomenon is all too real.  Skilled workers with higher degrees are increasingly ending up in lower-skilled jobs that don't really require a degree--and in the process, they're pushing unskilled workers out of the labor force altogether.

Source.

Okay...?

Okay...?

turtlethetaffer

It has nothing to do with a BA degree. People of all types of degrees and majors aren't working college level jobs. Hell, I'm not either. In today's workforce, if you didn't major in engineering or something broad like business, don't count on working a college level job much less in your major.

It has nothing to do with a BA degree. People of all types of degrees and majors aren't working college level jobs. Hell, I'm not either. In today's workforce, if you didn't major in engineering or something broad like business, don't count on working a college level job much less in your major.

Pirate700

what's wrong with living in your mom's basement, you can save a lot on rentLonelynight

what's wrong with living in your mom's basement, you can save a lot on rentLonelynight

because you're an adult, so you should be living on your own

[QUOTE="turtlethetaffer"]

Okay...?

loco145

My welcome?

[QUOTE="turtlethetaffer"]

Okay...?

loco145

You're*

My undergrad taught me that.

[QUOTE="loco145"][QUOTE="turtlethetaffer"]

Okay...?

senses_fail_06

You're*

My undergrad taught me that.

that's depressing

[QUOTE="loco145"][QUOTE="turtlethetaffer"]

Okay...?

senses_fail_06

You're*

My undergrad taught me that.

[QUOTE="Lonelynight"]what's wrong with living in your mom's basement, you can save a lot on rentlostrib

because you're an adult, so you should be living on your own

[QUOTE="lostrib"]

[QUOTE="Lonelynight"]what's wrong with living in your mom's basement, you can save a lot on rentPirate700

because you're an adult, so you should be living on your own

if they're losers.  It would probably do some good for them to learn what it's like to be broke and having to live with room mates, rather than being protected from the world by their mommy

Go for the learns not the gree, bee.KiIIyou

then go to a library

[QUOTE="Pirate700"]

[QUOTE="lostrib"]

because you're an adult, so you should be living on your own

lostrib

if they're losers.  It would probably do some good for them to learn what it's like to be broke and having to live with room mates, rather than being protected from the world by their mommy

[QUOTE="lostrib"]

[QUOTE="Pirate700"]Right, when it's feasible to do so. Too many people in this country rush to move out before they should, forcing them to either have to bunk with roommates *shudders* and/or to live in extreme poverty. The time to move out is when it's financially smart to do so. It's much smarter to live with mom and dad for an extra 5 years and have $100k in the bank than to rush out and be broke.

Pirate700

if they're losers.  It would probably do some good for them to learn what it's like to be broke and having to live with room mates, rather than being protected from the world by their mommy

the one who lives with his mother

he one who lives with his motherlostrib

[QUOTE="lostrib"]he one who lives with his motherLonelynight

that sounds awful

But bu.... I graduated with a BFA and I'm gainfully employed, did I do something wrong? :(General_X

[QUOTE="General_X"]But bu.... I graduated with a BFA and I'm gainfully employed, did I do something wrong? :(loco145

do you have a degree? or a job?

[QUOTE="Lonelynight"][QUOTE="lostrib"]he one who lives with his motherlostrib

that sounds awful

[QUOTE="lostrib"]

[QUOTE="Lonelynight"] there are a lot of people who live with their parents even after they get married and have childrenLonelynight

that sounds awful

No they do, I just would never want to go back to living with them

do you have a degree? or a job?

lostrib

No they do, I just would never want to go back to living with them

lostrib

[QUOTE="lostrib"]

[QUOTE="loco145"] At StarBucks?loco145

do you have a degree? or a job?

is that code for unemployment/welfare?

[QUOTE="General_X"]But bu.... I graduated with a BFA and I'm gainfully employed, did I do something wrong? :(loco145

[QUOTE="loco145"][QUOTE="General_X"]But bu.... I graduated with a BFA and I'm gainfully employed, did I do something wrong? :(General_X

[QUOTE="General_X"][QUOTE="loco145"] At StarBucks?loco145

being well paid for doing something you enjoy sounds horrible to you?

being well paid for doing something you enjoy sounds horrible to you?

lostrib

I would rather get payed for doing nothing.

[QUOTE="lostrib"]

[QUOTE="loco145"] I game the system.loco145

is that code for unemployment/welfare?

I assume you mean off the grid.  So you're a hobo?

[QUOTE="Lonelynight"]what's wrong with living in your mom's basement, you can save a lot on rentPirate700

Its an American thing, that the second you hit 18 its taboo to still live with your parents.  I never really understood it myself.

Fortunately, that is changing (due to necessity, but whatever).

Also, go to a junior/community college people.  No need to go to a four year right out of high school.

[QUOTE="loco145"][QUOTE="lostrib"]

is that code for unemployment/welfare?

lostrib

I assume you mean off the grid.  So you're a hobo?

[QUOTE="lostrib"]

[QUOTE="loco145"] I live of-the-grid.loco145

I assume you mean off the grid.  So you're a hobo?

what does that even mean?

[QUOTE="Pirate700"]

[QUOTE="lostrib"]

if they're losers.  It would probably do some good for them to learn what it's like to be broke and having to live with room mates, rather than being protected from the world by their mommy

lostrib

the one who lives with his mother

And then in 5 years time, the person who lived frugally at home has enough money saved up to put a good down payment on a home of his own, no debt, a vehicle, and some savings for the future; and the person who lived on his own is still getting by pay check to pay check, living in a crummy apartment with no assets or net worth.

[QUOTE="KiIIyou"]Go for the learns not the gree, bee.lostrib

then go to a library

Get a degree that works in the field you want to go to.  In california, recent Community College graduates make more than recent 4 year university students because they get degrees for work.

[QUOTE="lostrib"]

[QUOTE="Pirate700"]lol Whatever you say. There's a reason why most of the rest of the world lives 3-4 generations deep in one home. It's because it's the smart financial decision. We'd have much less poverty and hardship in this country if people would get over the stigma of living at home. And who's the real loser? The guy who's broke because of his/her pride or the guy that has $50-100k sitting in the bank and is nicely set financially?

_BlueDuck_

the one who lives with his mother

And then in 5 years time, the person who lived frugally at home has enough money saved up to put a good down payment on a home of his own, no debt, a vehicle, and some savings for the future; and the person who lived on his own is still getting by pay check to pay check, living in a crummy apartment with no assets or net worth.

oooo, Are we just making up random scenarios? Or the guy living at home just decides to not move out, because why move out when they can just stay at home and not have to pay rent or a mortgage, they have someone to clean up after their messes.  ANd heck, when their parents die, they'll just inherit the house.  

And the person living on their own, realizes how much being broke sucks so  they work harder, advance in their field/career while living frugally, allowing them to save up the money for a downpayment on a house.  

[QUOTE="_BlueDuck_"]

[QUOTE="lostrib"]

 

the one who lives with his mother

lostrib

And then in 5 years time, the person who lived frugally at home has enough money saved up to put a good down payment on a home of his own, no debt, a vehicle, and some savings for the future; and the person who lived on his own is still getting by pay check to pay check, living in a crummy apartment with no assets or net worth.

oooo, Are we just making up random scenarios? Or the guy living at home just decides to not move out, because why move out when they can just stay at home and not have to pay rent or a mortgage, they have someone to clean up after their messes.  ANd heck, when their parents die, they'll just inherit the house.  

And the person living on their own, realizes how much being broke sucks so  they work harder, advance in their field/career while living frugally, allowing them to save up the money for a downpayment on a house.  

[QUOTE="loco145"][QUOTE="lostrib"]

I assume you mean off the grid.  So you're a hobo?

lostrib

what does that even mean?

Nothing, he's just trying to cover his basic spelling errors with nonsensical explanations.

-Byshop

Nothing, he's just trying to cover his basic spelling errors with nonsensical explanations.

-Byshop

Byshop

[QUOTE="lostrib"]

[QUOTE="_BlueDuck_"]

And then in 5 years time, the person who lived frugally at home has enough money saved up to put a good down payment on a home of his own, no debt, a vehicle, and some savings for the future; and the person who lived on his own is still getting by pay check to pay check, living in a crummy apartment with no assets or net worth.

Lonelynight

oooo, Are we just making up random scenarios? Or the guy living at home just decides to not move out, because why move out when they can just stay at home and not have to pay rent or a mortgage, they have someone to clean up after their messes.  ANd heck, when their parents die, they'll just inherit the house.  

And the person living on their own, realizes how much being broke sucks so  they work harder, advance in their field/career while living frugally, allowing them to save up the money for a downpayment on a house.  

It depends on the BA you have, among other things.

What is with all the Bachelor degree hate? Plus I'll never understand the stigma of living with your family for financial reasons. Seriously what is wrong with that?Sajo7

[QUOTE="Byshop"]Nothing, he's just trying to cover his basic spelling errors with nonsensical explanations.

-Byshop

loco145

inventing phrases to make up for typos

[QUOTE="_BlueDuck_"]

[QUOTE="lostrib"]

 

the one who lives with his mother

lostrib

And then in 5 years time, the person who lived frugally at home has enough money saved up to put a good down payment on a home of his own, no debt, a vehicle, and some savings for the future; and the person who lived on his own is still getting by pay check to pay check, living in a crummy apartment with no assets or net worth.

oooo, Are we just making up random scenarios? Or the guy living at home just decides to not move out, because why move out when they can just stay at home and not have to pay rent or a mortgage, they have someone to clean up after their messes.  ANd heck, when their parents die, they'll just inherit the house.  

And the person living on their own, realizes how much being broke sucks so  they work harder, advance in their field/career while living frugally, allowing them to save up the money for a downpayment on a house.  

The fact of the matter is, people are graduating with a lot of debt and either aren't getting a job or aren't getting well paying jobs. So yes, for many people they have to make the choice between living at home to save money or spend more to live on their own. Why is making the more financially sound choice (that would probably lead to better long term financial independence) looked down upon?

I live on my own, but the simple fact of the matter is, had I chose to take my parents' offer to live at home rather than on my own in my first year after graduation, I would be in a lot less debt and would have my car almost paid for. I don't necessarily regret moving out on my own, but that doesn't change the fact that I could have made better financial decisions.

[QUOTE="Byshop"]Nothing, he's just trying to cover his basic spelling errors with nonsensical explanations.

-Byshop

loco145

what does that mean? are you like stealing cable or something?

It depends on the BA you have, among other things. [QUOTE="Sajo7"]What is with all the Bachelor degree hate? Plus I'll never understand the stigma of living with your family for financial reasons. Seriously what is wrong with that?ghoklebutter

[QUOTE="lostrib"]

[QUOTE="_BlueDuck_"]

And then in 5 years time, the person who lived frugally at home has enough money saved up to put a good down payment on a home of his own, no debt, a vehicle, and some savings for the future; and the person who lived on his own is still getting by pay check to pay check, living in a crummy apartment with no assets or net worth.

_BlueDuck_

oooo, Are we just making up random scenarios? Or the guy living at home just decides to not move out, because why move out when they can just stay at home and not have to pay rent or a mortgage, they have someone to clean up after their messes.  ANd heck, when their parents die, they'll just inherit the house.  

And the person living on their own, realizes how much being broke sucks so  they work harder, advance in their field/career while living frugally, allowing them to save up the money for a downpayment on a house.  

The fact of the matter is, people are graduating with a lot of debt and either aren't getting a job or aren't getting well paying jobs. So yes, for many people they have to make the choice between living at home to save money or spend more to live on their own. Why is making the more financially sound choice (that would probably lead to better long term financial independence) looked down upon?

I live on my own, but the simple fact of the matter is, had I chose to take my parents' offer to live at home rather than on my own in my first year after graduation, I would be in a lot less debt and would have my car almost paid for. I don't necessarily regret moving out on my own, but that doesn't change the fact that I could have made better financial decisions.

because people need to learn to deal with their own choices, and the consequences, rather than continually relying on their parents for protection.  That's how we ended up with the current generation of adult-children