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The Value of a College Education

Posted by Donald J. Trump on 12/11/2006 at 8:28 AM

I've been a long-time supporter of college education. I think that a college degree puts you so far ahead in life that it's utterly necessary in today's competitive business world.

Now the government released a report backing what I've said all along.

According to the Census Bureau, a bachelor's degree is worth about $23,000 a year. That's the average gap in earnings between adults who graduated from college and those who just have high school diplomas.

College graduates make an average of about $51,000 a year compared with only about $28,000 for people with just a high school diploma. High school dropouts, on the other hand, earn an average of roughly $19,000...and those with advanced college degrees make approximately $78,000.

It doesn't matter if you're a man or a woman or what race or ethnic group you belong to. If you go to college, you end up making a lot more money. It's that simple.

And I can't think of a better reason to get a college degree.

Donald J. Trump is Chairman of Trump University.

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Donald J. Trump is Chairman of Trump University.

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13 Comments

Posted by William D. Harding, Jr. on 12/11/2006 9:35 AM

While this may be true, don't you remember being suprised on The Apprentice in the "Book Smarts vs. Street Smarts" that the "Street Smarts" team earned considerably more as a group than those with college degrees? I agree with you on this one that a degree from a good college is invaluable in the long run. I won't debate you on this one.

Posted by Dennis on 12/11/2006 3:39 PM

hi, Donald.

I agree with Alla Wartenberg and your co-author, i think, Kawasaki, that college degree helps to develop an area of expertise like accounting, HR, marketing, law, medicine etc to work for somebody else and get paid a salary. Of course, someone can open a consulting practice in these areas (as a business owner). Even you, in your books, wrote that, early on, you realized that all these education was not as important ("the most important thing i learned in Wharton was not to be overly impressed

Posted by David on 12/11/2006 7:37 PM

It also can determine your future husband/wife. More than ever before, more people are marrying their academic and economic equals. This is a big reason for the increase in the gap between the rich and poor.

Posted by David Scott on 12/11/2006 7:43 PM

In the graphic design industry there is a mixed opinion on college degrees. Our business relies heavily on artistic talent and it is not uncommon to find high school drop outs making the same kind of cash as those with a four year degree. I have a bachelor of fine arts degree in Communication Arts and while I'm not so sure it has contributed to the creative aspect of my career, I do believe it has helped my business mind. For that, I am grateful for the education I have received. It is an essential part of any individual's ability to become a great leader.

Posted by Natlie on 12/14/2006 6:22 AM

Dear Donald T.

I was pushed to have ba

Posted by Josefine on 12/14/2006 3:01 PM

Here in Sweden it is also said that it's better to have a college degree, but when you look at the income that you earn as a doctor and the income you earn as a worker in a factory, the difference isn't that big. And that scares me! My brother studied for 4 years to become a biomedicin scientist, and he has worked for two years now, and my father who works as the head of the shift-workers earns 700dollars more a month, and he hasn't got more education than seven years of school from his teenage! Thats is so wrong! I would have wished for that the differences were much bigger, so that it is really worth the struggle to get your college degree. Right now, here in Sweden, it's almost not worth the struggle and that really bothers me. I want to be highly educated, but I also want to see that it counts, and that you earn more money with a degree than without. We really need a change up here in the north...

Posted by Joe Duck on 12/16/2006 12:34 PM

Dear Mr. Trump -

Good post, you should blog more about your opinions and experiences establishing one of the great "brands" and real estate empires in the world. GoTrump.com is a very interesting concept, though I'm not convinced the online implementation is optimized to your normal standards of excellence.

Posted by Jerilynn on 12/16/2006 10:30 PM

Exactly Mr. Trump. I agree. I recently was reading in Newsweek the article, "College Guide 07 25 Hot Schools (and How You Can Get In.)" I checked it out and found UCLA was listed for popular majors in psychology or political science. I think I like that. How about psychology and political science? Both areas interest me. Mr. Trump, how old is too old to go back to school for a major?

Posted by pooria niknazar on 12/17/2006 4:57 AM

that's right utterly and we can learn sth better in college education that can be helpfull with our work

Posted by Dimitar Vesselinov on 12/17/2006 11:57 AM

Education 2.0
How about education on demand? Who could build the Education 2.0 platform? Google or a federation of startups? Academic education doesn't work well. It's boring, it's antiquated, it should be fixed. There is a huge market all over the world.

Wikipedia + blogs + Facebook (social networks) + podcasting + videocasting (YouTube) + Flickr + mobile (cell) phones + gaming + IM + VoIP = Education 2.0

"Rather than spending 4 years of your life taking a bunch of courses that may or may not really matter in your life once you graduate, you can choose your education on an 'as needed basis,' based on your unique interests and talents."
http://ben.casnocha.com/2006/09/college_admissi_1.html

Who is interested in this idea?

http://divedi.blogspot.com/2006/10/idea-of-day-education-20.html

Posted by Gary A. on 01/24/2007 5:13 PM

Great point. A college education is absolutely essential.

The problem with most people is that their education stops there.

Continuing education is critical. Whether it be Trump U courses, seminars, or just plain reading, knowledge is a powerful and useful tool.

gea98

Posted by Rachael Sutton #1253595 on 12/05/2008 12:04 AM

The amount you earn depends on how you employ that knowledge, and in what part of the country. The real pay off is in the broadening of your horizon. I came across a quote a long time ago, but when trying to look it up for exact verbage, and to acknowledge the originator, could not locate it. I believe it goes something like this "A human mind, once expanded, rarely goes back to it's original dimensions" I'm ready to learn.

Posted by member1979507 on 05/19/2009 4:41 AM

I agree with you Mr.Trump; experience is definitely what counts, but a degree is what gives that experience an extra edge in a competitive world. And the education scenario has changed well lately to accommodate those who have time or financial constraints stopping them from pursuing a traditional degree. More and more institutes are now offering online courses of fast track programs that can be completed in less time. There are even options where online and on-campus styles are combined to give the students the benefit of both. While higher degrees like Doctorate of Master's may still not be in reach of all; we can surely say that a whole lot of people are now opting for Associates or even <a href="http://www.collegeamerica.edu/degrees_programs.html">Ba... degree Program</a>.

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