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A few weeks ago, I responded to a provocative blog entitled, “Wise Up! Skip College. Buy a Franchise!” The primary thrust of the blog was, essentially, that college is “a waste of time, money, and brain cells,” and that high school graduates would be better served investing in a business franchise rather than a degree. At the time, I thought the blog was amusing — if a bit disingenuous — and I used it to debunk certain false premises that are often employed to undercut that value of a college education. Imagine my surprise when the author of “Wise Up!” immediately posted a vehement defense of his position in "Is College a Scam?" in which he called my own conclusions “well-crafted, but misguided.”

In other words, he threw down the gauntlet. As such, it became necessary to make another foray into the topic of “College Degree vs. Franchise” — a match-up that seems to me to be the equivalent of the New York Yankees battling a local softball team. Not exactly a "Subway series," if you ask me — but we’ll get to franchises later.

To the matter at hand: in my earlier post, "College Degrees: What’s Their Real Value?" I argued that articles such as “Wise Up!” tend to base their conclusions on false premises. One of those premises was that financial success can be had easily without a college degree. In my rebuttal, I pointed out that while financial success without a college degree is possible, it is hardly probable, and those that achieve success through other means — such as franchises — tend to occupy a small minority. The author of “Wise Up!” countered by pointing out that 33% of the Forbes 400 members had no college degree. The author then posed this rather cheeky question: “a small minority of successful people lack college degrees? Who’s been ‘smoking doobies down by the river,’ Ben?”

Am I still in reality here or did we just take a hard drop down the rabbit hole?

Remember my initial point? (Promises of financial success without a college education are often made on scant or inconclusive evidence.) Well, here it is. Note that the author of “Wise Up!” grounds his point on the Forbes 400 list — a list of the 400 richest people in America. Now I don’t know about you, but the Forbes 400 list seems hardly indicative of Americans generally. After all, proffering any conclusion about 300 million people based on a sample of 400 people seems to be a hasty generalization at best (if not thoroughly irresponsible). It also proves my point about the nature of such claims. My argument, by contrast, which demonstrated that college graduates make significantly more than non-graduates was based on the U.S. Census Report. Granted, the U.S. Census Report isn’t as sexy as Forbes, but it does account for all Americans, not just .00013% of its very wealthiest.

Smoking doobies indeed.

To be fair, I’m sure Warren Buffett, Ralph Lauren, Steven Spielberg, Donald Trump, Martha Stewart, and other extraordinary people would have achieved their success with or without a college degree. But these people are the exceptions — that’s the point. So anyone that tells you to skip college and follow Oprah’s footsteps is either delusional or they have an ulterior motive.

Which brings us to franchises. Now I won’t pretend to be an expert on franchises. Whatever facts or statistics I present here will be based solely on cursory research of websites devoted to the topic, such as Entrepreneur.com, AllBusiness.com, and Franchise.com. From what I can see, franchises vary in cost, ranging from $5,000 for a low-end, home-based franchise to $500,000 for a fast-food joint. Some franchises — such as full-service restaurants and hotels — can even exceed $5,000,000. Franchise costs include an initial franchise fee as well as working capital to purchase real estate or meet expenses. In short, the cost of a franchise can be slightly less or ten times the amount of even the most expensive college education, in which case it’s hardly an either/or scenario.

Now I’m not prepared to argue the merits of owning a franchise, but I suspect the success of a franchise — like that of any business venture — must be grounded on sound business principles, a well-conceived marketing strategy, and local interest. (In other words, it is anything but guaranteed.) I’m certain that franchises can be good investments — at least for some. But when what’s good for some people under some circumstances is extended to be good for all people under all circumstances — such as all high school graduates, for instance — we are treading on dangerous ground.

And the slope only gets more slippery.

As mentioned earlier, the main contention of “Wise Up! Skip College. Buy a Franchise!” is that a high school graduate would be better off spending their money on a franchise rather than a college education. The problem here is that this is not an either/or decision, as the author would have us believe. His assertion is a variation on what’s called “false dilemma” or “false choice.” False choice is a logical fallacy that purports only two options when more are available. In this variation, the author of “Wise Up!” puts forward a false choice that isn’t really a choice at all.

Consider this: how many high school graduates have $50,000 lying around to pay for college, much less to invest in a franchise? Most prospective students (between 65-75%) require financial aid to pay for college, typically in the form of student loans. Student loans are unique because they require no form of security other than the student’s education. In other words, lenders are so convinced of the long-term value of a college degree that they are willing to invest thousands of dollars and defer payments for years, content in the knowledge that the earning potential of the college graduate will provide them with a handsome return — which, more often than not, it does.

Can franchises boast the same? Think about it: how many banks would be willing to invest a similar amount of money so that an eighteen-year-old kid with little education, minimal work experience, and nothing to borrow against can start a franchise? Not many — if any. Furthermore, how many franchises would forego the initial fee and provide the working capital with the hope of recouping their investment several years down the road? None. They want their money up front. That fact alone is irrefutable evidence that these companies still regard their franchises as risks — just not their risk.

The fact is that most high school graduates simply don’t have the option — much less the capacity and necessary experience — to start a franchise. The real choice is whether they should go to college, in which case the statistics show that for the majority of Americans, not just a handful of exceptions, a college degree is a wise investment. Admittedly, a college degree cannot guarantee financial success. Then again, nothing can. That being said, statistical surveys of large cross-sections of Americans from a variety of classes and ethnicities have shown, if not cause and effect, at least a very strong correlation between education and earnings. In short, a college degree isn’t absolutely necessary for success, but it is a strong predictor.

So unless you’re a high school graduate with an unusually large nest egg and a penchant for risk, the choice of whether a franchise is a better investment than a college education really isn’t a choice at all. Anyone who says otherwise is either misinformed or spinning catchy-little sophistries. In which case, both of you need to wise up.

ABOUT THE AUTHOR

Benjamin Welch has been a college instructor in writing and composition for nearly six years. When he’s not teaching or playing golf, he offers advice for students seeking information about continuing education, online education and online degrees.

It used to be that if you wanted a six-figure salary, you needed a certain job. But the fact is that there are other ways to earn six figures. As the old saying goes, “there are many paths to the top of Mt. Fuji,” and not all those paths need go through medical school, law school, or business school. Recently, Forbes.com published a list of several occupations that were off the beaten path but which were potentially as lucrative as the traditional stand-bys. Included on their list were the following:

Court reporters Professional (life or career) coaches Mine managers Truck drivers Pressmen Technical writers Restaurant managers Air traffic controllers Elementary school principals Post-secondary school teachers Market research analysts Real estate salespersons Insurance salespersons Loan officers Film editors

Several other news services, including CNN/Money, have listed additional jobs that have the potential for six-figure salaries, including:

Casino manager Hotel managers Make-up artists Cargo pilots Broadcast TV captioners Fitting models

Granted, many of these occupations offer six-figure salaries only to a portion of their professionals — say, the top 10 or 20 percent — or to professionals in certain markets or specialties. Some occupations are relatively small, such a mine managers or film editors, which means they don’t offer a lot of jobs to begin with, and those they do offer are extremely competitive. Other occupations, such as loan officers and real estate salespersons, are contingent on market conditions and therefore fluctuate year to year.

The point is that there is at least the potential for six-figure compensation across a range of industries. I don’t know about you, but for me that’s a terribly comforting thought. What this means is that gifted and motivated professionals in industries other than law, business, and medicine can make a handsome living — and do so doing something they love.

Too often we’re prone to make career decisions based on desires for prestige or money rather than on our own interests or talents. But those factors don’t have to be mutually exclusive — not anymore. Recent studies from the Bureau of Labor indicate that ceilings for many industries, including those listed above, are now exceeding the six-figure benchmark. As such, more and more professionals in non-traditional careers are enjoying a level of compensation they might never have obtained a decade ago.

So before you make a decision based on traditional — and perhaps out-dated — notions of what careers pay the best, remember the old Japanese proverb about the many paths to the top of Mt. Fuji and at least consider donning your hiking boots and looking for trails that are less well-known but equally prosperous.

ABOUT THE AUTHOR

Benjamin Welch has been a college instructor in writing and composition for nearly six years. When he’s not teaching or playing golf, he offers advice for students seeking information about continuing education, online education and online degrees.

Although law enforcement and fireman tend to get all the love from Hollywood, these industries are not nearly as dangerous as they seem on the silver screen. In fact, many dangerous jobs belong to industries that seem — at least on the surface — tame. The following is a list of the ten most dangerous jobs based on statistics compiled by the United States Bureau of Labor.

1. Fisherman. (118 deaths per 100,000) Fishermen endure storms, fog, wind, and hazardous working conditions, which constantly put them at risk of drowning. And if fisherman suffer serious injuries while at sea — such as injury, illness, or hypothermia — medical help isn’t quickly accessible.

2. Military Serviceman. (111 deaths per 100,000) Technically, the Bureau of Labor does not report statistics on military fatalities, but given the public record they are easy to deduce. And while potentially dangerous under any circumstances, military service has been especially dangerous in recent years due to rising conflict in Afghanistan and Iraq.

3. Logging and Timber Workers. (93 deaths per 100,000)The duties of logging and timber workers include cutting down and transporting trees. As such, the nature of their work puts them at constant risk of being killed by heavy, falling objects. Logging and timber workers also are at risk because they often work on steep hills and in hazardous weather.

4. Aircraft Pilots. (67 deaths per 100,000) This category includes flight engineers and pilots of both commercial and smaller aircraft including crop dusters and air taxis. Naturally, the primary dangers of flying relate to engine failure, which may lead to crashing.

5. Structural Iron and Steel Workers. (56 deaths per 100,000) These workers climb dozens of stories to lay the iron and steel beams that form buildings, bridges, and other structures. Despite strapping on harnesses and other safety gear, structural iron and steel workers face a high risk of fatal injuries from falls, not to mention the many injuries they receive from tools.

6. Refuse and Recyclable Material Collectors. (44 deaths per 100,000) Although falling into the garbage trucks may result in injury — and often does — the primary cause of death for refuse collectors is being hit by impatient motorists who try to pass garbage trucks at inopportune times.

7. Farmers and Ranchers. (41 deaths per 100,000) While often perceived as a peaceful existence, farming and ranching actually presents great danger, mostly in the form of tractors and heavy machinery. In fact, non-highway vehicle accidents account for most of the casualties among farmers and ranchers.

8. Electrical Power Installers and Repairers. (33 deaths per 100,000) Power line installers and repairers climb poles and towers to get — and keep — electricity up and running. Power lines are typically high off the ground, so workers are at high risk of injury due to falls. Plus, these workers are often at risk of electrocution from contact with the high-voltage power lines.

9. Truck Drivers. (29 deaths per 100,000) Driving is perhaps the most dangerous activity people do, and the danger is only compounded for those who do it professionally. Every day, truck drivers face collisions, overturning, and jackknifing, all of which are more likely and more frequent given their large and clumsy vehicles.

10. Construction Workers. (23 deaths per 100,000) Construction workers perform a wide range of potentially hazardous tasks. They work with heavy objects, great heights, and bad weather. Some jobs expose workers to harmful materials such as chemicals, noise, and dangerous machinery, all of which contribute to injuries and death.

To conclude, it should be kept in mind that “most dangerous” is a relative term. Granted, the occupations above have the highest casualty rates of any occupations in the United States; still, only two — fishing and military service — are above 1 per cent, and then just barely. What this means is that the likelihood of death in even the most dangerous industries is relatively small and should be kept in perspective when making decisions about potential careers.

ABOUT THE AUTHOR

Kari Whitaker is a technical as well as creative writer. In addition to articles on education and careers, she also enjoys writing short stories, essays, and poetry.

What is the value of a college degree? For most people, the answer to this question seems self-evident. Aside from its intrinsic value, numerous reports have confirmed that an individual’s job opportunities and earning potential increase significantly with a college degree. And yet, there seems to be a small but vociferous faction that claims otherwise. Take this article, for instance — “Wise Up! Skip College. Buy a Franchise” — which recently appeared on the website Franchisepick.com. The author writes:

Recent H.S. Graduates, you are at a crossroads. One path leads to the instant gratification of 4-5 years of partying and debauchery at Mediocre U., then a meaningless diploma, a mountain of debt, and an eventual minimum wage position cleaning the grease traps at the local Bun ‘N Run. The other path? Skip college, invest the same amount of money in a Bun ‘N Run franchise opportunity, and, in four years, be partying in high style aboard your yacht while MBA candidates clean your grease traps and deposit your daily haul.

While written tongue-in-cheek, this article does reveal a genuine suspicion among many people that a college degree just isn’t all it’s cracked up to be. I’ve read a number of these articles, and most, if not all, tend to discount college degrees for one or both of the following reasons: (1) college degrees are too expensive; and (2) success can be had without a college degree. I’d like to address each of these reasons and see if they hold water.

First, let’s address the cost of a college degree. The College Board reported last year that the average cost of college, including room and board, was about 13,000 at public schools and 30,000 at private schools. That amounts to about $50,000 and $120,000 for a four-year degree, respectively. Given that most students attend school full-time, one might also add to those figures the cost of lost wages, which could easily be another $100,000, thus bringing to the “true cost” of a college degree to somewhere between $150,000 and $230,000 dollars.

That’s quite a hole. Still, even with that debt, studies have shown time and time again the long-term financial benefits of a college degree. For instance, the United States Census Bureau reported in 2004 that an individual with a bachelor’s degree makes about $30,000 more annually than someone with only a high school diploma. Over the course of a working lifetime, that’s more than million dollars. Thus, any initial savings made possible by skipping college are greatly outweighed by the long-term consequences, which are severe.

That brings us to the second reason. Can’t you succeed without a college degree? What about all the people that have made millions without going to college? Good question. It’s true there have been dozens of noteworthy people who never attended college or who never finished. The list includes such luminaries as Albert Einstein, Thomas Edison, Henry Ford, the Wright Brothers, Steve Jobs, and Bill Gates. Well, what of them? First of all, the fact that they are notable — meaning rare — tells you how often it happens.

Basically, it’s a case study between possible and probable. It’s like the casino telling you to play roulette all day instead of working for a living. Sure, you can strike it big and live out the rest of your days in luxury — that’s possible. But statistics show that it’s far more probable that you’ll lose everything and end up “smoking doobies in a van down by the river.” So, unless you think you’re then next Albert Einstein or Bill Gates, a better bet would be to play the percentages and go to college. After all, there’s a reason why no one publishes a list of millionaires and other notables who actually finished their college degree. Those people are the rule, not the exception.

Thus, any pundits who claim, sarcastically or not, that a college just isn’t worth the trouble or the money, are in error. Yes, college degrees are expensive, but they are also investments with the potential for a big payoff. (Granted, as with any investment, that payoff isn’t assured, but the likelihood of success is far greater.) It’s true that some people have succeeded without a college degree, but those people belong to a very small minority. Don’t let anyone fool you: significant monetary success without some kind of education is hardly a well-worn track. That’s why it’s newsworthy when it does happen.

In the final analysis, it seems the grounds for discounting the worth of a college degree are based either on poor math or logical fallacies — two errors, ironically, that a college education is supposed to correct.

ABOUT THE AUTHOR

Benjamin Welch has been a college instructor in writing and composition for nearly six years. When he’s not teaching or playing golf, he offers advice for students seeking information about online education and online degrees.