On Wed, 31 Aug 2005 20:01:50 GMT, Stephen Horgan
Post by Stephen HorganPost by Derek ^A) They speak of 50% of the population going into higher education.
there is no market for that number of highly qualified graduates.
While the differential has fallen, a degree is still worth an
increased lifetime income, which suggests that there is a market.
But we're not at the 50% level yet, and the figures are distorted by
the fact that graduates earn enhanced salaries quite late on into
their careers reflecting the quality of graduates who qualified 25
years ago, from a good class university, with good degrees in bona -
fide subjects.
A seperate issue. But many of the jobs for graduate specialists are in
particular parts of the country where the cost of living is also very
high, (Thames Valley, for instance) and all salaries are elevated.
Taking into account the foreswearing of 3-4 years salary whilst at
uni, the gap in the NI contribution record, and being 3-4 years later
to get on the housing ladder, taking a "whole life sum" the benefit in
salary terms of getting a degree has been much overstated, unless it
so happens it puts the graduate in a position to join one of the
"Regulated Professions", law, accountancy, medicine etc.
This distorts the statistics, and in any event earning a premium
salary in ones mid '50s does little to compensate for the privations
of being borassic whilst paying back a student loan and supporting 2
or 3 young kids, wqith a mortgage in ones 30s/40s with all the
pressures that brings.
That's why TB, GB, JP, et al made sure they landed about 150k/annum.
Post by Stephen HorganPost by Derek ^B) Unfortunately British industry has been decimated "N" times over.
We can't rebuild it from the top down, by command economy style
producing vast numbers of highly qualified graduates.
British Industry has been decimated? The Banking sector for example
has expanded hugely over the last couple of decades.
I can only speak about retail banking, but in our small town, the TSB
branch has closed, merged into LLoyds, the other big banks have
reduced the number of tellers positions by about half. It's not
uncommon to see only one position open at lunchtime at HSBC. I'd say
employment is down about 40% over 5 years, haven't the banking unions
been saying something similar?
If within banking you are including financial services that's a very
strange hot-house Triffid operating in a very perverse, privileged
environment created and colluded with by the government.
There have been enough mergers and take overs amongst such as Confed
Life, Allied Dunbar, Zurich Bank, that one has to take a rain cheque
on getting any handle on it at all. But, nevertheless the unique
selling benefit of accurate analysis and high quality forecasting by
highly paid mathematicians with PHDs in Fluid Mechanics presented to
the punter as he signed up to his 35 year contract for a pension, can
just dis-appearr when they get taken over by a different provider and
concurrent schemes just get kicked into a dusty corner.
You don't have a complaint, 'cos it's not bad advice. You want to ship
out to a better provider? You pay the charges. £38K for me.
About commercial wholesale banking I am not qualified to speak.
Post by Stephen HorganPost by Derek ^C) Most of the high status jobs in "management" that people went to
university in the '60s and 70's to get a chance of getting have been
eliminated by the computer revolution, so that an young oik on a PC
workstation needs less supervision than a junior insurance underwriter
in the '60s because the computer can be programmed to only let him do
things right. Why, nowadays even the oik has been eliminated and
customers can interact with the computer themselves via the internet.
This is simply not the way office automation works. Relatively
unskilled jobs, and a lot of secretarial ones, have certainly gone but
they have been replaced by people working with information. Computers
are only tools by the way. A useless idiot with a computer is still a
useless idiot.
Yes, we found that out to our cost when one of them brought a disk of
his own in and infected the office network with a virus.
Post by Stephen HorganPost by Derek ^D) The nature of the subjects studied gives the lie to claims that the
qualification is intended to be useful, ergo there must be another
purpose. ISTM keeping students off of the dole queues is one such
purpose, getting the next generation into debt is another, although a
person with a degree in "sport science" is unlikely to get much more
than a minimum wage job, If he at any time does get a job that pays
much more, (Inherits the family business, say) the state will start
collecting his student loan. If he's 30+ and just got his first house
on a Mortgage with a couple of kids to support, he might come to
regret that £20k boondoggle studying "golf" when he was 18
Most sports science graduates become PE teachers, or sports coaches of
some kind.
Our office secretary's daughter did a 3 year sports science degree,
followed by a 1 year MA in "Media Management". She's now 28.
Astutely observing there is a grant of £6,000 went on to do a 1 year
PGTD intending to be a PE teacher teaching girls in a comprehensive
school, however she failed in her second term and got sent away
because she didn't know the rules of the common or garden girl's
school games such as for instance "Hockey"or "Basket Ball". She now
has to re-do the failed course segment at her own expense and be
examined on it at her own expense, before she can resume the 3rd and
final term. She's now working in a call centre, & it may not happen.
It seems in her sports science degree she'd chosen all the esoteric
modules such as canoeing, orienteering, and frog trampling, as opposed
to humdrum, run of the mill, school sports for girls.
Mickey Mouse qualification? You couldn't make it up !
Post by Stephen HorganThere are plenty of people taking technical degrees by the
way.
Well, they are still turning out IT graduates despite the fact that
they are almost unemployable, (They get their money, what the hell).
My first son graduated 11 years ago and got started in his career
before the IT bubble burst, OTOH his partner with a masters degree in
IT is currently unemployed because she had to give up her first career
job to move 220 miles across the country to move into the house they
had bought together (Bristol), not that Bristol is a bad location, and
in current circumstances local jobs for newcomers are scarce and
poorly paid.
There are more than plenty of IT folks posting on the *.uk groups who
will testify, including some driving trucks for £35k (3x what they
would earn in IT).
Same with my own subject, electronics, they are still running the same
courses they did 30 years ago despite the industry in this country is
an archeological relic fit for "Time Team" of what it was then. "We
wonder whatever it was they used to *do* here"?
They do it because there are a lot of parents who are 1 + generation
behind the times, & kids who have listened to what their parents
think, or public employers such as the Army/Navy, who are Dick's days
behind the times, and who spout such rubbish as a matter of policy. I
can't believe how anybody could really *Think* that a degree in
electronics, or IT, is a dream ticket to a "lucrative career" in
2,005. Flavour of the month, it is not.
From the Muppet Show :
"Just pass me a copy of the "Rich and Famous" contract". 8-/
Post by Stephen HorganPost by Derek ^Post by Stephen HorganPost by bananaTo keep young people off the streets, who'd otherwise be unemployed?
I think this is only part of the reason. Many students have to work
anyway, e.g. stacking shelves at Tesco's, in order to survive. If they
didn't go to college, Tesco's would still be 'hiring' (Americanism
intended).
The point is that the number of unskilled jobs in the economy that pay
a reasonable wage is falling whereas the demand for graduates is
increasing. In any case Britain needs to compete as an advanced
economy, and that requires educated people.
What you are proposing is like trying to rebuild the World Trade
Centre from the top down.
I am not proposing anything. This is what is happening.
We haven't got to the 50% stage yet, so it can't be.
Post by Stephen HorganPost by Derek ^Post by Stephen HorganThe sale of council houses was and is an unqualified success.
My observation is that the results have been very mixed, and are only
"Better" in the relative sense that the performance of council housing
depts. was absolutely dire. Owner occupiers of ex Council Houses are
still at the mercy of the Council who can and do decide on a whim that
they will decant the contents of a sink estate from the other side of
the city into your street, and move Chavs in next door.
Councils don't do things on a whim
Agreed they'll have an agenda of their own, and this benefits the ex
council house owner occupier precisely how?
Their decision are capricious. The internal machinations of the
council housing dept are not open to us. So for a few solitary private
owner occupiers, it might as well be on a whim.
I have heard it said in the past their decisions are influenced by
whom is to benefit from the land transactions that will result in the
development consents they approve. My late uncle gave me some blatant
examples. So I've heard ...
Post by Stephen Horganand in any case the better estates now have a very high degree of
owner occupation.
The council decides the fate of an estate. If they decide they're
gonna tear down "Songbird Leys" and sell the land to the developers,
moving all the tenants across town into "Broad Lee Meadows" they will,
and no negotiation on that.
Post by Stephen HorganPost by Derek ^Post by Stephen HorganAs for
padding, students with any nous take a reasonable degree. If they opt
for sociology or media studies then they shouldn't complain if the
world doesn't come knocking at their door.
They choose their degree when they are 16 or 17. They don't have the
experience to see that they are being sold a "bill of goods". They
believe that if the state invests many millions of pounds in new
University Buildings, then if they can get in it must be "A good
thing" for them.
This is a generalisation. Teenagers get careers advice or advice from
their parents and plenty of them opt for science, technical or
vocational degrees.
So they do, they are the ones with "Nous", IE oil in their lamps.
Maybe 10-15% . The issue is the wisdom of trying to expand this
figure to 50% on a "Numbers game" basis.
Post by Stephen HorganPost by Derek ^Post by Stephen HorganPost by bananaExpanding the sector has been part and parcel of what began with
abolishing student housing benefit and grants.
Funding the expansion of higher education only from the state would
have been extremely expensive. The judgement was to direct government
spending elsewhere.
Iraq war? G.B "Helping the poorest"?
Primarily the Health Service.
He put up NI to pay for that, and also took about 1 Billion out of the
National Lottery New Opportunities fund to pay for CTs, MRI's, and
X-ray machines, ( that much *I* know about ;-) ).
Post by Stephen HorganPost by Derek ^Post by Stephen HorganPost by bananaHow the City bankers must be laughing! We are now talking about millions
of people getting into large amounts of debt when they are 18, and not
getting out of debt until they are about 50.
Speaking as a City banker I would agree that the banks are not
entirely displeased at the current state of affairs. Most students who
obtain reasonable degrees should find themselves out of debt by about
30 though, not 50.
Post by bananaMeanwhile, they are encouraged to see themselves as respectable, as
people who'd rather take do two or three jobs so as to keep up their
debt repayments, than get into major arrears.
The debt repayments don't even start until a certain income level is
reached and stop if income falls below those levels. The interest rate
is also very competitive.
There have been 4? 5? different sets of opaque rules. My son left uni
10 years ago and has paid nowt back. It seems he could earn almost 20k
before he starts, although he is of the opinion that once he starts he
can't stop, so he has been manipulating his bonuses and "Overtime". I
think in the next set of rules repayment will kick in at £15k through
the income tax system.
The rules are changing as you suspect.
Post by Derek ^Post by Stephen HorganPost by bananaI wonder how long it will be until people are encouraged to get into
debt to send their children to 'fee-paying schools for the non-posh' - a
sector that is also expanding?
We desperately need to liberalise education in this country and give
people choices that aren't based on house price, which is effectively
how things work at the moment.
An extra choice of being able to study a 4 year Honours Degree Course
in Pizza-Ology, or "Geography with Dance", isn't worth it's weight in
cough drops.
Some idiots do mickey mouse courses,
Without doubt If the offers are made there are lottsa kids without
nous will take them as a soft option, thinking *they've* pulled the
wool over the eyes of society.
The issue that concerns me is the situation when 35% - 40% of the
population are taking "soft option" M.M. Degrees.
Post by Stephen Horganbut most don't. In my line of work we basically want graduates with
good degrees.
God is not mocked. You know your onions, you also have oil in your
lamp.
Post by Stephen HorganOthers basically need not apply.
If you think that having 5 times as many graduates to chose from will
be a benefit, remeber you will have to screen out all the "Walking on
the cracks in the pavement with flower arranging" wallies.
Post by Stephen HorganWe are not alone in our preferences.
We know.
So why *are* we building so much mickey mouse capabilty into our
education system? Which neatly brings us back to the subject line.
;-)
DG