The long game

And return on investment.  Roger Williams’ president, Donald Farish, shares his thoughts on the critics of higher education in University Business.

Higher ed is a tough world, but it’s a world we made
The problem is that looking at first-year salaries is a terrible predictor of lifetime earnings, especially with a liberal arts graduate. In the first year many of them are earning very little money, so it looks as if spending all that money on college was a terrible waste. 
But 10 years out there’s a very different picture in place. You have to look at career earnings, or earnings at age 40—something other than just that first job. In the great majority of cases, they end up with a job they enjoy and a salary they find adequate for their needs, and earn about as much as graduates in professional programs. 
To say it’s all about getting a job is throwing in the towel on all the things liberal arts have always aspired to. Many faculty in the liberal arts are horrified about the idea that we’ve been turned into a jobs training program.


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