Ask any high school student (or adult for that matter) if there’s a shortage of skilled tradespeople, and they’ll say yes, there is. And they’re right.
As evidenced by the incredible “booming jobs market for skilled tradespersons”, noted by Forbes[1], and the rising pay for people who have those skills… there has indeed become a critical shortage…
For this reason, and others of course, many of our young people have opted for trade school or technical schools over college.
But what today’s high school students (and adults alike) may not know is this: There will soon be a shortage of college educated workers in the US too.
In fact, a study by Georgetown University’s Center on Education and the Workforce says that by 2032, the US economy will be facing a shortfall of college educated workers of… 5.3 million![2]
Of that 5.3 million, 4.5 million of the shortage will come from the lack of bachelor’s degree holders. Especially in nursing, engineering and teaching.
Now, like any “supply and demand” equation, when the supply of something drops, and demand either remains steady or increases, the cost of obtaining that supply rises.
In this case, the supply is the college educated, and the costs are likely to rise are salaries to obtain college educated workers… like we’ve seen with skilled tradespeople.
So, why is this so important for colleges to impress this information on their prospective students?
Because student don’t go to college, online or otherwise, simply for the “experience.”
No. They want an education that will pay off.
And that’s why so many of our youth have opted for the trades.
But should the Georgetown University’s Center on Education and the Workforce study be correct, those payoffs could very well begin to come from obtaining a bachelor’s degree.
Already, a bachelor’s degree holder (across all majors) averages about $70,000 a year, while the average salary for a tradesperson is about $50,000 a year.[3]
Outside of costs alone, it generally takes about 4-5 years to earn a bachelor’s degree, and often less than 2 years to become a skilled tradesperson…
So, dollars to donuts, trade school may be viewed as a better deal…
But upward pressure on salaries for the college educated, when there’s a shortage of them, may eventually push that average to over $100k…
Which should make earning a bachelor’s degree even more attractive, dollars to donuts.
Now, clearly, college is not for everyone. But for those who are fence-sitting between college and trade school, mentioning the upcoming shortage of bachelor’s degree holders, and what may happen with salaries as a result, may be something you’d want to highlight when you’re speaking with prospective students, especially when you’re trying to attract new enrollees at college fairs and the like.
Or…
You can partner with Conversion Media Group and let us handle a portion of your college enrollment initiatives. The portion where we generate EDU leads and physically speak to prospects on the telephone, then transfer the live calls to your enrollment department at the moment they’re super qualified to enroll.
Yes, CMG is a national leader in higher education lead generation. It’s all we do. We’re experts at it.
So, what exactly can Conversion Media Group do for your enrollment goals?…
And how can we do it?
Well, give us a quick call at: 1 800 419 3201 and we’ll explain it all; including our methodologies and your potential results.
[1] The Booming Job Market For Skilled Tradespersons
[2] Falling Behind: How Skills Shortages Threaten Future Jobs – CEW Georgetown