Do you need a 4Year Degree

1
Do you need a 4-Year Degree?

• Presenter
• Nelse Grundvig,
• ESC LMI Division

2
Synopsis

• It comes as no surprise that jobs that require no
  post-secondary education have higher rates of
  replacement (different person filling the same
  position) but this same group also has the
  highest percentage of jobs that were not
  previously filled in essence a new job. While
  those occupations that require a 4-Year degree
  have more stability (fewer replacements), they
  also have the lowest growth rate of new jobs.
  Come and see how this information would help
  prospective students or dislocated workers who
  are considering post secondary education/training.
  

3
Things to Consider

• When projecting jobs
• Need to consider the growth or decline of an
  industry.
• Need to consider the staffing pattern
• Need to consider technology changes
• Need to consider the degree of turnover by
  occupation
• Creation of new jobs, as well as replacing those
  who have done this job before

4
Education Job Stability

• Those jobs that require more education are less
  likely to undergo a change in staff.
• The percentage of new jobs (not previously
  filled) decreases with education.
• Likewise the percentage of replacement jobs (jobs
  where someone did fill the position) also
  decreases with education.

5
Something to Consider

• When you fill a position that does not require
  any post secondary training, that position is
  more likely to have been previously filled by
  someone else.
• Generally, as the educational requirements
  increase there is less likelihood of a person
  either filling a new position or one where
  someone had previously held the position or
  replacement job.

6
The Other Side of the Story
7
Different Labor Markets

• Internal Markets
• Hire from within the organization
• Rewards longevity
• Implies a required understanding of culture,
  technology and business model
• External Markets
• Occupations are not firm specific
• Rewards certification

8
Strategies Used for External Markets

• If you have been dislocated and return to the
  same employer due to changing conditions, job
  security will remain suspect
• Increase skills
• Prepare to market ones abilities without
  seniority (External Market)
• Market soft skills and problem solving abilities
• Obtain certification or other recognition

9
Strategies Used for Internal Markets

• Internal markets often have a career path.
• Required understanding of the work process,
  institutional rules or policies, in addition to
  developing needed technical skills that fulfills
  the next job
• In addition, often times requires the picking or
  training of possible replacements

10
Replacement Jobs or New Jobs?

• Replacement Jobs
• Strategies are more consistent with internal
  markets
• Employers have a benchmark (previous employees)
  to measure candidates abilities
• Job duties and work environment are fairly fixed

• New Jobs
• More consistent with external markets
• Position is being defined and is more subject to
  change than replacement jobs
• No internal benchmark to measure candidates
• Initiative, problem-solving and other soft skills
  are premium

11
Different Tactics for Different Positions

• From an employers perspective
• What knowledge, skills, and abilities are
  required to perform the position?
• What type of attributes would be best suited to
  the position?
• Who is my target audience?
• Would it be possible/appropriate to fill the
  position through redeployment?
• If filling an existing vacant position
• Has the job changed? (eg. new duties, new skills,
  new work area)
• Is the position description still appropriate for
  the position designation and salary level, and if
  required, has it been updated?
• If creating a new position
• Does the draft position description accurately
  reflect the tasks and responsibilities of the new
  position?
• Could the job be offered on a flexible basis?
  (eg. part-time/fractional or job share)

12
Implications

• Job security generally increases as education
  increases
• Compensation generally increases as education
  increases
• However, the costs of becoming educated or
  trained include
• Lost opportunities presently (in hopes of more
  latter)
• Training does not guarantee future positions.
• Immediate payment for training (tuition, fees
  etc.)
• A break in employment history that needs to be
  addressed when seeking new positions
• For dislocated workers, employers generally
  desire targeted education or training as it
  relates to tasks that need to be done by staff

13
Salary By Education

• While getting more education pays, the cost
  including lost opportunities needs to be
  considered.

14
BS or BA is not for everyone!

• The average cost of attending a state university
  for 4.5 years is in excess of 47,500 (18,700 if
  one excludes room and board).
• In contrast, the Community College average cost
  for 4.5 years is under 6,000.