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What Is Your Degree Worth

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College is a reward for surviving high school. – Judd Apatow

Let’s face the facts. A college degree is not as valuable as it used to be.

Many folks are landing starting salaries well below what it cost them to get that required degree before starting that job that pays less than what it cost to go to school to qualify for the job in the first place.  

According to PayScale, the typical college graduate with zero to five years of experience is raking in $48,400.

The National Association of Colleges and Employers (NACE) states that average starting salary for graduates is about $50,004. So what does that say about paying $100,000 for that creative writing degree? That it is overpriced.

Let’s get down to brace tacks.

HOW MUCH MORE IS COLLEGE TODAY?

The price of college has now outpaced inflation.

college-education.procon.org

The average yearly cost of 4-year public college cost from 1971-2016:

2016: $20,967

1971: 8,734

140.1% increase in college costs

During that same period of time wages decreased by 5.4% over those 45 years.

You read that right. Wages actually went DOWN instead of UP with a college degree in your hand.

See my post College Alternatives that could save you $100,000

WHAT IS THE PRICE OF COLLEGE VS THE VALUE OF YOUR EDUCATION?

After you get that degree, then you have go out and get that coveted job. You want a great starting salary, but most employers will tell you they cannot quantify your knowledge but so much.

Really?

Cause college are sure about to slap a price tag on getting that knowledge.

Why not offer the same salary as the cost of the degree?

For instance, if you pay $45,000 for your sociology degree, then that would be your starting salary.

Let’s think about that for a second.

What if colleges and employers printed the cost of degree and payment for that degree? Then you would see something like this:

Petroleum/Mechanical Engineering: Degree cost and starting salary $90,000.

Psychology: Degree cost and starting salary $47,000.

That would alleviate a lot of stress and salary negotiations right there.

THE MOST EXPENSIVE DEGREES ON THE PLANET

“A university is just a group of buildings gathered around a library.” ― Shelby Foote

Education is an asset. And investing a great deal of money in a degree doesn’t necessarily guarantee a first-class education. However, it can alter the trajectory of your life if you are able to parlay all those late nights writing papers into some serious coin.

As of 2019, Harvey Mudd College has taken the crown for the most expensive college in the world costing students approximately $57,401 for the upcoming 2019/2020 academic school year.

If we time that by four, which is being nice considering the average college kid is graduation in 5-6 years, then we get a mind-blowing $229,604!

For some perspective, if we invest that money instead over four years and let it ride, then after 30 years with an 8% return you would have $2,310,426.27! Yes, those four years cost you over $2 MILLION!

You literally could have used your college savings and invested every penny in the stock market and gotten a higher return than what many will get after 10 years of drudgery repaying that $200,000.

It gets even more expensive if your kid starts in at the top and goes to a private school from K-12. This could cost you even more and the losses start to really pile up!

Say those adolescent years are spent in some swanky private school at $50,000 a year. Over the course of 13 years, you would have paid $650,000! Add that $229,604 and you are staring at education bills of almost $900,000!

I would take a check for $900,000 at the age of 22 any day of the week over going to fancy private schools for 17 years!

And just in case you were wondering.

If you invest that $50,000 private school money over 13 years in the stock market, you would have $1,160,746.02 with an 8% return. And add in four years of college, that would net you $1,822,512.19.

Going to public school isn’t looking so bad now is it?

Here are some of the most expensive colleges in the United States and the world.

These 12 colleges are currently the most expensive in the United States:

12. Duke University (18)
2018-19 Tuition & Fees: $55,960

11. Bucknell University
2018-19 Tuition & Fees: $56,092

10. University of Southern California
2018-19 Tuition & Fees: $56,225

9. Tufts University
2018-19 Tuition & Fees: $56,382

8. Amherst College
2018-19 Tuition & Fees: $56,426

7. Franklin and Marshall College
2018-19 Tuition & Fees: $56,550

6. Landmark College
2018-19 Tuition & Fees: $56,800

5. Harvey Mudd College
2018-19 Tuition & Fees: $56,876

4. Trinity College
2018-19 Tuition & Fees: $56,910

3. Vassar College
2018-19 Tuition & Fees: $56,960

2. University of Chicago
2018-19 Tuition & Fees: $57,006

1. Columbia University
2018-19 Tuition & Fees: $59, 430

These 11 colleges are currently the most expensive in the world:

11. Yale University
2018-19 Tuition & Fees: $49,480

10. UCL (University College London)
2018-19 Tuition & Fees: £9,250 or $12,080 USD

9. ETH Zurich (Switzerland)
2018-19 Tuition & Fees: CHF 1,298 (~US$1,310)

8. University of Chicago
2018-19 Tuition & Fees: $57,006

7. Princeton University
2018-19 Tuition & Fees: $43,450

6. California Institute of Technology
2018-19 Tuition & Fees: $45,390

5. University of Oxford
2018-19 Tuition & Fees: £9,250 or $12,080 USD

4. Harvard University
2018-19 Tuition & Fees: $46,340

3. University of Cambridge UK (United Kingdom)
2018-19 Tuition & Fees: £9,250 or $12,080 USD

2. Stanford University
2018-19 Tuition & Fees: $46,320

1. Massachusetts Institute of Technology
2018-19 Tuition & Fees: $47,704

Those are expensive colleges.

Did you know you could go to university cheaper abroad?

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For some perspective on exactly how expensive colleges are in the United States, as an international student you could go to the same college as Prince William and Duchess Kate Middleton for less than it costs to go to Harvard, Yale, or Princeton! The cost is £20,770 or $27,125 USD. That is what it would cost annually to attend the University of St Andrews.

NOT ALL DEGREES ARE CREATED EQUAL

Education is not an equalizer. If you go to the same college as a science nerd majoring in Math, while you are majoring in philosophy, you both are not on equal footing by a long shot.

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In light of the recent college bribery scandal, let’s talk top-tier universities.

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If you were to get an acceptance into Yale or Duke University, congrats to you, as you are among the college elite. However, don’t break out the celebratory champagne just yet.

Although you and another student may be paying the same amount to go Duke, if you major in a different field, then that degree can easily eclipse yours.

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Put it this way. You and another student both pay $48,000 a year over four years. That is $192,000. You become an engineer raking in big bucks right after grad by getting a starting salary of $95,000. Your friend on the other hand, let’s call him Joe, majored in piano or violin and is only able to get a starting salary as a backing musician for $38,000.  

That is a difference of $57,000 a year.

You ask how is that so? We went to the same university. We paid the same amount.

Yes, but your degree is in higher demand than Joe’s.

Then you may ask yourself: Well why didn’t Joe pick a more in demand degree? And therein lies the rub.

Joe is a skilled musician. That is where his passion and interest lie. Even if he would have seen a brochure, which there aren’t any in wide circulation on any college campuses that I have ever been to, showing the starting salaries of majors he still would have chosen music.

The playing field of majors is not level. Therefore, you need to decide before you even step foot on a college campus what you want to be.

This is a small list of what employers are paying for college majors.

My suggestion is that you do a search on what it costs and what it pays to be a lawyer, accountant, doctor, or violinist. When you know what your options are, then you can at least make an informed decision.

Money advice from Gossip Girl

Earn the spotlight on your own merits. You’ll feel better. – Serena

I was reading a book when I decided to take a walk down memory lane and watch Gossip Girl on Netflix.

For those of you that may not know or remember the show, Gossip Girl was a show about privileged American socialite teens at an elite and exclusive academic prep school in Manhattan’s Upper East Side (UES); whose every move was texted out through an eblast via tips to  an anonymous site called Gossip Girl.

What is Gossip Girl and what it does?

What’s the difference between gossip and scandal? So glad you asked, UES Forever. Anyone can commit a minor indiscretion and generate a day’s worth of buzz. But in order for gossip to birth a true scandal, it requires the right person to be in the wrong place. – Gossip Girl

The show was on the WB, then the CW, and aired from September 19, 2007 through December 17, 2012. The show was narrated by Kristen Bell (as Gossip Girl). Scandals, scoops, and hemlines run amuck. The show may have had a serious lack of ethics, but it did make for some interesting television.

Gossip Girl is based on a popular book series of the same name written by Cecily von Ziegesar. The adapted television series in 2007 came about from the book series she started in 2002.

Gossip Girl will always have a special place in my heart.

It was in 2007 that I heard this line from the show:  You know, Dad, there’s this thing called MySpace where you can post all of this information online. Save some trees, have a blog. – Dan Humphrey

 It peaked my interest in blogging. Then, I started this one, Greenbacks Magnet, 9 years later.

Some of the dialogue may be a bit harsh in its tone and delivery, but there was some truth behind some of their words.

Gossip Girl likes to keep things classy and somewhat true. – Serena van der Woodsen played by Blake Lively

Serena is so grateful because she likes to see the best in people. I like to see the truth. – Blair

So, let’s get right into it.

MEET THE MONEY PLAYERS

You got me thinking. If my class is so important to you maybe I ought to make it worth your while. So for the next seven weeks it’s fewer models and martinis, more flow charts and footnotes.– Colin Forrestor played by Sam Page

Last month, on Thanksgiving Day, I decided to watch some Thanksgiving themed movies and television episodes. And I settled on watching Gossip Girl.

As GG fans know, it just hooks you in with all the drama and high fashion that’s fun to look at.

The music was pretty good too. Found the GG soundtrack for music featured in every episode here. 

The series follows Upper East Siders throughout their never ending drama filled lives that is often self-inflicted. It Girl Serena van der Woodsen is centered around it all and is the star of the show. Her friends and family make up the rest of the cast.

One of my favorite scenes is actually from the first episode of the series. It was a face-off that was incredible between two young women and it set the tone for the show.

The 4 top-billed (in my opinion) and main cast includes the following:

Blake Lively as Serena van der Woodsen AKA S

Leighton Meester as Blair Waldorf AKA B

Chace Crawford as Nate Archibald AKA Golden Boy

Ed Westwick as Chuck Bass Always

If you pay close attention to their conversations, they are dropping some serious money gems.

These little nuggets of life and money wisdom, when interpreted and applied correctly, could transform lives and bank balances.

Let’s begin.

WORK FOR WHAT YOU WANT

Never in my 16,982 hours of schooling have I ever been sentenced to detention. – Blair

Throughout the show, the main cast is always discussing their futures and going to college.

It was almost incessant in the amount of pretentious ponderings of how to be sartorially correct while interviewing for a top spot as a Yalie. And yes, that is a quite accurate assessment of the character known as Blair on the show.

Blair would look and act so innocent and demure like she couldn’t melt butter, but her stare and looks were as cold as ice. Very entertaining.

Here she goes on one of her tirades.

I am so a better fit for Yale than that Rory. – Blair

Now, she’s belittling and disparaging the character of one of my favorite shows Gilmore Girls.

Check out my posts where I talk Gilmore.

Mega Millions Win or Bust 

Money and Life Lessons I Learned from CBS Storybreak’s Yeh-Shen

How to navigate Universal Studios on a budget and like a boss

But enough of the $50 words. Let’s talk about the rest of the show.

They attend the fictitious Constance Billard School for Girls and St. Jude School for Boys. In addition, throughout the show you may hear them casually drop names of other schools.

In the Gossip Girl (book series) — it contains the line “two little Sacred Heart girls in their cute red and white checked pinafores were walking an enormous black Rottweiler” on page 86 in the first novel of the series.

Many of the parents are part of high-society and are on boards of prestigious organizations, own businesses, and live in penthouses. They go to great parties, opening nights to the ballet, and fashion week.

You get the impression that these kids know to base their lives around money and making sure to earn piles of it is a must.

They are tireless paragons of poshness. The parties are lavish, the lifestyle is glamorous, and the fashion is couture and expensive. Makes for a great show.

What I noticed was that everyone in one way or another was working hard at trying to make their own way in the world apart from their rich and or famous families.

They chased their dreams relentlessly. Like a boss.

And made huge sacrifices to get what they wanted.

Great leaders only need three hours of sleep! – Blair

They worked, started or interned at major businesses, magazines, for fashion designers, newspapers, literary writers, politicians, and fashion houses.

You’re not likely to get or keep those gigs for long if you are playing around.

“When and if we end up together, it has to be as equals.” – Blair

Yes, indeed. Be independent.

BET ON SELF

Here’s my advice: Have a little faith, and if that doesn’t work, have a lot of mimosas.– Blair in the Wild Brunch Season 1 Episode 2

My family is really into waffles. – Jenny Humphrey sister of Dan Humphrey played by Taylor Momsen

If you want something, go get it. Have some faith in yourself. And good food and conversation go together.  I have learned a lot about people when having lunch with them. It’s a great way to build relationships. My favorite meal is brunch. I too love waffles!

See my post, Forget casinos, bet on yourself for more on this topic.

THE SO-CALLED ELITE

Their membership is so restricted, it makes Soho House look like a halfway house. – Blair

They say of you want to increase membership to something then increase the selection criteria.

The Ivy League have made this an art form. As you see on this show, even the wealthy were concerned about their college admissions. There was even some talk of donations to a school to get in. In the end, you see deep down, we all have our insecurities. Accept it, and move on.

I have learned that I am no better than anybody else, but I am always just as good.

KNOW YOUR WORTH

You deserve someone who would move mountains for you if he had to. – Blair to Serena 

Normal people don’t get an endless number of chances, no matter the situation. That’s just you. – Dan to Serena

I have heard people say that well-behaved women seldom make history. At least that is what Eleanor Roosevelt said. I guess you can take her word for it as her husband FDR made history.

“I have an idea for you: quit. Your boss is a bi*ch. Let’s go to lunch.”

I have actually done just that very thing. I quit a bad job. Got a better job. And never looked back.

 “I’m not a stop along the way, I’m a destination.” – Blair

That line could be someone’s Bumble Bee bio. I call it sophisticated confidence.

“He ended up treating me like something he owned instead of something he earned.” -Blair

You’re worth more than a guest lecture fee, everyone knows that. – Dan to Serena

Well put. Damn straight!

Be unique. Have your own voice. Be you.

See my post, How being an outlier can make you rich

How being an outlier can make you rich

YOUR INCOME

A man who own a tuxedo shows that he has the means and can afford to provide for his family – Blair in Belles Du Jour Season 4 Episode 1

One of my favorite lines from the show comes from none other than Nate Archibald while talking to Chuck Bass.

Excuse me? Where’s my boy? “Seal the deal.” “Tap that a$$.” “Money marries bigger money.”

Wow. Money marries bigger money. That’s kind of cold, but ok.

I could care less about his Bassets and probably he’s filtering his assets through some foreign government so I won’t know. – Blair on Chuck Bass.

S: So you hired escorts? B, you couldn’t just tell your mom you don’t have friends at NYU?

B: Prostitutes are people, too, and they have a lot of disposable income. – Serena and Blair

Yes, people are focused on income, A LOT.

Jane Austen also so eloquently puts how much emphasis people put on income in two of her novels. And also how to treat others with or without money.

FOR THE LOVE OF HEADBANDS

I know you disapprove of me, but can’t you at least do so in a tuxedo?– Lily van der Woodsen played by Kelly Rutherford

This show loves their tuxedos. And themed parties. Masquerade. Kiss on the Lips. You name it.

It is often said when you look good, you feel good. Well, I concur. You feel more confident as well.

I remember going to a job interview where some folks didn’t take it seriously. I wore a nice dress and some of the men wore suits while others wore jeans.

After I got hired and when I later started the job, I noticed on my first day that all the people that got hired were the ones that were well-dressed.

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Piece of advice: lose the tulip. – Chuck

If you know one thing about GG, you know it’s all about the fashion.

The well-heeled wear nice heels. Blair was known for her love of headbands. People were always giving her grief about it.

Your era is over, and so is that headband. – Jenny

No headbands in college, okay? – Dan to Blair

Et tu, Dan?

SvdW was known for her fantastic sense of style.

And she had more loose interpretation of a school uniform than any person on the planet. The Tie Goddess. See for yourself.

EDUCATION IS PRICELESS AND THE PRICE OF INTELLECTUALISM

S:Wow, and I thought college would be different from high school.

B:Who would want that? – Serena and Blair

These kids were not just applying to any colleges, but the Ivy League. They wanted to be HYPsters (Harvard, Yale, Princeton) or the like.  What Blair called the Holy Trinity of colleges. Which are all expensive colleges. We are talking $50,000 USD per year or more.

It was a constant stressor of theirs during the shows first four seasons. Case in point, here is a list of the schools they were trying to get into or that their parents attended.

For instance, Serena wanted to go to Brown and that college and Harvard are where her parents went. Blair wanted Yale and Nate was considering UCLA over Dartmouth like his father. There was also talk of Columbia, Georgetown, and NYU on the show.

It just goes to show you that getting an education is still mighty important.

Serena van der Woodsen or SvdW for short – Brown University, Columbia University

SvdW parents attended – Harvard University and Brown University

Fun show Fact: SvdW dropped out of Brown at the last minute because she wanted to find herself and she felt that moving away to another city wouldn’t help her achieve that. The classic one-year hiatus otherwise known as the infamous gap year before entering college.

This is what Blair had to say to her about going there.

Your deductive-reasoning skills are perfect for a place like Brown. An enclave of trustafarians and children of celebrities who major in drum circles and semiotics, whatever that is. I can’t wait for you to come home next Thanksgiving a militant veganista, anemic and proud. – Blair

It left me speechless.

Blair Waldorf – Yale University, Columbia University, New York University (NYU), NYU – Tisch School of the Arts

Nate Archibald – Columbia University, Dartmouth

Chuck Bass – Columbia University

Dan Humphrey AKA Lonely Boy played by Penn Badgley – NYU

Vanessa Abrams played by Jessica Szohr – NYU

Eric van der Woodsen played by Connor Paolo – Sarah Lawrence

Some character’s shots at the sheepskin, in my opinion, and other honorable college mentions include:

Reaches: Yale, Harvard, Princeton

Realistic: UPenn, Georgetown, UMiami, Duke, USC, UCLA, Columbia, Tulane, Pepperdine, Wesleyan, Dartmouth

Safeties: Cornell, Vanderbilt, George Washington

READ TO GET AHEAD IN LIFE

I’m telling you, I learned everything I know about women from Judy Blume’s Forever. – Dan

According to List Challenges, “Gossip Girl” (2007 – 2012) : here is a listing of some of the favorite authors and books of the characters or simply the ones mentioned by them and showed along these 6 seasons, books studied in university, etc.

Many characters also name dropped or were caught reading well-known books by famous authors.

I love the Snowflake Ball. It reminds me of Anna Karenina, only by Anna Wintour. – Serena

Maybe if we become famous writers one day, they’ll publish [our letters] after we die, like Sartre and de Beauvoir. – Vanessa

They also liked to travel extensively. Especially, in Europe such as Paris, France. In addition, they speak more than one language such as French while in Paris.

Elliott’s the perfect mix of smart and fun: He speaks three languages, but he has a subscription to People magazine. – Eric

List of titles includes:

House of Mirth by Edith Wharton –  read by Juliet Sharp played by Katie Cassidy

The Lorax by Dr. Suess – Mentioned by Dan

Colette by Gigi – Blair read this on a bench in Paris

Jane Austen books – Pride and Prejudice, Emma, Mansfield Park, Northanger Abbey, Persuasion

Charles Dickens novels – A Tale of Two Cities, A Christmas Carol, Oliver Twist, Les Grandes Espérances

C. S. Lewis books – The Chronicles of Narnia, Alice’s Adventures in Wonderland

William Shakespeare – Othello, Romeo and Juliet, MacBeth, Henry V, Hamlet, King Lear

A few other famous works, Rabbit Redux by John Updike, Cyrano De Bergerac by Edmond Rostand, Les Liaisons Dangereuses, The Crucible (Arthur Miller), Wuthering Heights (Emily Bronte), I Know Why the Caged Bird Sings by Dr. Maya Angelou, The Art of War, The Crucible (Arthur Miller), Madame Bovary, The Old Man and the Sea (Ernest Hemingway), The Beautiful and Damned (F. Scott Fitzgerald), Cinderella (Charles Perrault), The Canterbury Tales by Geoffrey Chaucer, Faust, In Cold Blood by Truman Capote, Anna Karenina by Tolstoy, Walden, The Great Gatsby (F. Scott Fitzgerald), and Beloved by Toni Morrison.

There, I have just given you a reading list that every good high school student or Ivy League hopeful should have. Some of which I have read. My favorite author is Jane Austen. A close second is Louisa May Alcott, as I just love Little Women and the 1994 film starring Winona Ryder. But Austen’s Sense and Sensibility (1995) just amazes me every time. That along with Pride and Prejudice (2005) and Emma (1996).

The rich seem to be highly educated. They also tend to get ahead in life. Therefore, be well-read.

However, these trust fund babies did end up leaving college and higher education after a while to set out for their own fortunes in the real world.

For people like us a college degree is just an accessory.  – Chuck

So, this too let’s you know that it is not always about what you know, but who you know.

You never know who you may run into at expensive coffee shops, libraries, restaurants, college, and hotels like the Palace in New York.

So, go build up those relationships.

MONEY AND RELATIONSHIPS

Just to clarify, I do think you deserve to be with someone who makes you happy. – Dan

True words indeed.

I read, like, five self-help blogs on how to turn friends into lovers. Yes, they used that word. – Dan

Come on, Cece’s heart pumps secrets and gin. – Dan

And there was lots of secrets on this show. Relationships and secrets were everywhere.

Sex is meaningful, like art. And you don’t rush art.– Dan

All great things are built or done slowly.

If you watched this show, then you may remember the season 3 episode with Lady Gaga. Here is her take on relationships that is so Blair Waldorf.

“Some women choose to follow men, and some women choose to follow their dreams. If you’re wondering which way to go, remember that your career will never wake up and tell you that it doesn’t love you anymore.” ― Lady Gaga

Marriage

Settling down means death. Less sex, more silence. – Blair on marriage

Blair also had some of the best lines on the show. EVERY. SINGLE. EPISODE.

Case in point, check this out.

And she actually said this too.

That’s the thing. You need to be cold to be queen. Anne Boleyn thought only with her heart, and she got her head chopped off. So her daughter Elizabeth made a vow never to marry a man. She married a country. Forget boys. Keep your eye on the prize, Jenny Humphrey. You can’t make people love you, but you can make them fear you. For what it’s worth, you’re my queen. I choose you. – Blair

As, I am a history buff and studied up on Queen Elizabeth I of England, my mouth fell open when she said this.

Check it out here.

And I am not the only one who feels she should get some praise for her talented banter.

C: It’s a facility for the disturbed or addicted.

B: You must have your own wing.

C: You don’t get enough credit for your wit.

– Chuck and Blair

If you go back with an uncertain heart, there will be drama and disaster for all. – Blair

You better believe it. In life and relationships, to be successful, you have to commit.

LOVE

B:Love me?

C:Always.

– Blair and Chuck

They were the best characters on the show, in my humble opinion. The two of them together was gold. Take a look for yourself.

But ultimately, I have learned that love is what we are all looking for.

MONEY DOESN’T BUY HAPPINESS

Trouble is moving in, and it’s looking to make the Upper East Side it’s bi*ch.– Gossip Girl

You would think that folks in tuxedos and ball gowns are the happiest, but these people seemed so unhappy.

Happiness can’t be measured in things. It comes from having the things that really matter like people who love you for who you are.

Doing the right thing takes courage and strength. At least that’s what I’ve heard. – Blair

Well, I hope you had fun going down memory lane with me and I will bid you adieu in the best possible way to end this post.

You know you love me – XOXO,

Gossip Girl (I mean Greenbacks Magnet) wink, wink 😉