College ROI Takeaway Tweets & #CampusChat Transcript

Takeaway Tweets and Campuschat TranscriptPayscale’s Lydia Frank rocked the College ROI discussion on #Campuschat last night!

Following are Lydia’s (@Lydia_West) direct responses along with a  link to the transcript via Storify.

Q1: How does @Payscale calculate the ROI of a college degree? #campuschat

A1: Well, first, here’s a link to the @PayScale College ROI Report: http://pysc.al/vCFEl #campuschat
A1: We look at ROI for attending college vs. starting a career after high school. Earnings minus costs minus foregone wages #campuschat
A1: A very detailed methodology on the @PayScale College ROI Report is available here: http://pysc.al/vCFzg #campuschat

Q2:Is evaluating schools on return on investment fair? #campuschat

A2: It shouldn’t be the only consideration, but earning potential needs to be part of anyone’s school and major research. #campuschat
A2: If you take on substantial student loan debt not knowing what your earning potential is, you may be unhappy after graduation #campuschat

 

Q3: What are companies looking for among college grads today? #campuschat

A3: Skilled workers. The debate is whether it falls to schools or employers to provide training on specific job skills. #campuschat
A3: Employers say there’s a skills gap while colleges say specific marketable job skills change too rapidly to keep up. #campuschat
A3: Colleges often say that their focus is (and should be) on a broad liberal arts education that teaches critical thinking #campuschat

Q4: What makes a college grad a good job prospect? #campuschat

A4: A degree won’t set you apart. Actual work experience will. Internships get a bad rap sometimes, but I think they’re key. #campuschat

Q5: Where are the best job opportunities for college grads? #campuschat
A5: Go where economies are growing. Even if you’re not in the “hot” industry, it cycles through the local economy. #campuschat
A5: Examples where wages are up significantly year over year are Minneapolis, Seattle, San Francisco http://pysc.al/vCEur
A5: In terms of fields – biotech, healthcare, IT http://www.payscale.com/payscale-index/job-categories … #campuschat
A5: I do agree that you should pursue a field that interests you though. STEM was not my personal choice.

Q6: What questions should a high schooler ask about careers when visiting campus? #campuschat
A6: Ask about the school’s career planning services and take full advantage of them. #campuschat
A6: Schools don’t always have a ton of data about actual careers and earnings of grads. Some do, some don’t. Worth asking. #campuschat

More takeaway tweets from Lydia:

With college costs on the rise, you can’t afford not to think about the financial outcomes as well. #campuschat

ROI stands for return on investment. We’re applying a financial concept like you’d use for your 401k to look at college. #campuschat

In addition to @PayScale earnings data, we also look at the costs reported to IPEDS by schools. #campuschat

Click here for the full transcript of the College ROI #CampusChat 04/09/14

SCV Plane with trail

#CampusChat was created by Smart College Visit’s @collegevisit and first launched on May 5, 2010. It is one of the longest-running higher education chats on Twitter.