Tuesday, April 22, 2014

More education = Success?

Mark Zuckerberg, Bill Gates, Alice Walton, Mark Cuban, Oprah Winfrey, Liliane Bettencourt
A Bachelor degree, a Masters degree, a PhD... but do all these degrees automatically mean success? Can I easily work into a company of my choice and demand I get paid a large annual salary for all the years I have worked to attain all my degrees? Will I become I billionaire with all these degrees? If I have both a bachelors and masters degree is that enough? Should I go back for more?  Do people need higher education to succeed?

There are many wealthy people who actually never graduated from college. Some go back to college only after they have made their millions or billions. 

An article from Forbes Magazine says More college does not beget more economic prosperity  that means a person can have just a bachelor's degree and be more economically successful than an individual with a masters degree. True? Yes. We see it everyday in every society. 

Many times when we start a new job we realize many of the things we learn at the job is something we would have to learn while on the job and most often some of the things we learnt in college do not help much while on the job. Industries are evolving, so what you learned in college 5 years ago is likely not going to be useful in that same industry few more years from now. To grow or  go up the ladder most often than not requires experience and training obtained while in that job or company. Today we find out that companies are more likely to promote a person within their company who has worked with them, knows the company very well than a new person outside. 

A while ago when watching one of the episodes of Shark Tank (let me quickly say I love this show, new episodes every Friday on abc!!). There was a certain person who came in to pitch their idea/business/company to the sharks for investment. All the sharks did ask them a question if they were going to quit college at that time to take their business idea to the next level of making millions and one went on to point that Mark Zuckerberg had to drop out of college to complete his project which currently puts him in the list of top richest in the world. A person watching might think oh great I should drop of of college and start making millions, no it does not work that way. The sharks made that statement simply because these people already had an idea, a business plan which needed full attention and dedication.  

Why do so many billionaires drop out of college? an article written by Steven Bloom highlights some reasons why many of our world billionaires drop out of college. Many of them already had an idea, a business plan, a clearer vision of their future, innovative, willing and ready to take risk. To become a billionaire, it takes lots of work, dedication, willingness to be uncomfortable when you need to be. More college degrees don't make you successful, its the attitude, vision and drive that makes you successful. 

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