Doug Belkin

speaker

287 appearances 5 recordings 1 series first heard Sep 2017 last heard Mar 2023

Doug Belkin’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Shifts in Higher Education Create Winning and Losing Colleges · 22 Feb 2018 podcast

It's unbundling.

There's a lot of different things you can get now, a lot of different credentials you can get that signal to employers that you're smart, that you're ready to work.

At the same time, the value of a four-year degree as a credential is diminished.

The surveys of employers say that kids who are coming out of school frequently are not ready for the workforce, they're not prepared.

So getting a four-year college degree is no longer the imprimatur that it once was.

That means that employers are not putting the same heft on a degree that they did, and they're looking to hire folks who have the appropriate skills as opposed to the appropriate credentials.

So the places that are the most vulnerable right now are schools in the Midwest and in the Northeast.

And this is simply because the population there is dropping much faster than it is in the Southwest or the South or the West.

So it's also a place where there's a tremendous concentration of private schools.

So private liberal arts schools, which are particularly vulnerable to this trend, are probably the most in danger in the Midwest and in the Northeast.

And the three states that jumped out were Ohio, Pennsylvania, and New York.

So a lot of different trends are converging.

There's been a gap between the higher education and the labor market for a long time.

That gap is closing rapidly.

So schools are doing a lot to try to prepare kids for the workforce as opposed to trying to educate them for what the academy considers to be a well-educated person.

So universities are taking much more seriously their obligation or their responsibility to prepare kids with digital skills, with analytical skills.

Majors are in much more pragmatic things like healthcare and business, and the humanities have taken a tremendous hit over the past few years.

So that's one trend that's happening quickly.

And then experiential learning is becoming more prominent.

So you've heard about internships becoming as important as your GPA, and that's true, but also programs like what they're doing at Northeastern University where there's co-ops and this sort of thing are being adopted slowly by different schools around the country.

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