in today's world 90% of peoples doesn't want to learn for knowledge , they see which field is highest paid , damnnn data science earn ----$ k , let's go and become data scientist .. learning for money and learning for knowledge is different. i guess.
I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $21k passively by just investing through an advisor, and I don't have to do much work. Inflation or no inflation, my finances remain secure. So I really don't blame people who panic.
Not sure why this video is surprising. There are a lot of jobs out there people have to take because the higher paying jobs they are capable of doing have been filled. There aren't enough of those better jobs for people to fill so they settle for a lower tier job to pay the bills. This goes for the majority of people.
I got laid off with 3 advanced degrees and 12 years experience in my field. When I applied to a new job, they were speechless at my resume, said I was very impressive, then called me overqualified. I later found they wanted much cheaper fresh out of school employees to underpay for the role. This job market is a sick joke.
My little company is interested in eventually hiring another salesperson. I will tell you that we are not looking for the seasoned pros for exactly this reason. The issue is that the job itself doesn't really require the expertise of a seasoned industry veteran, it only requires a mediocre young kid who has some basic competency and knows how to use a phone and occasionally talk to a human in person (who is consequently willing to work for less, within the budgetary constraints, and who will not grow unhappy and quit within the first 12 months).
They only hire for entertainment. You can't sit around and laugh at a pro while paying them dirt. The little kings and queens need more cheap jesters for entertainment.
I never bought into the accredidation collection game. How much of your education do you retain and can recall? How much of it do you put in practice that couldn't be learned on the job? Educational costs are a lost opportunity cost from market gains. I'm so glad I didn't pay for a masters and simply saved and invested. Now I can literally work paycheck to paycheck and still be on my way to retiring early.
Perhaps the biggest problem is that too many of the people trying to address this issue are those with exactly the kinds of jobs that most people want: politicians, business owners, entertainers...successful RUclipsrs. It's easy to go tell other people to suck it up and do grueling labor when you're not the one who has to do it.
The thing is I hate to say this but some of them don’t deserve it and are not going to be qualified for it I’m like you don’t belong in college (I don’t mean athletes)
That's not what they're saying though. They're saying it's you're fault and you're a failure somehow if you have to do a job society needs in order to run.
That's exactly the point basically they're telling others to run society while they get nothing but disrespect and frowned upon while they get the jobs in which they don't have to risk permanent life altering injuries
@spicymemes7458 "You're overqualified" is the job interview version of "it's not you, it's me." It is often a complete lie but it's vague, polite and the best they could come up with in an awkward moment.
I speant 6 years working in construction. At the age of 24 i already had back problems, hearing loss, and lung problems, and i never made more than 30$/hour. I was destroying my body for a job that simply did not pay enough for me to even move out from my parents house. There seems to be an inverse relationship between how usefull/productive your job is and how much you get paid. It was a really easy decision for me to go to law school because anything is better than ruining my health in a job that pays like shit.
most people don't even make that. but no should be some compensation for health problems. most jobs without university is 15h only willing to hire part time due to not wanting to pay any benefits. with that said trades is high in paying comparison they are leaving out the high medical cost you will have in the future hence why many without degrees just settle for the 15$h and also stuck with parents or renting with a group of friends
In a similar way, the main reason I'm not in the trades is because my Dad who has made a career with manual labor told me from an early age that it would destroy my body. I've still worked some jobs that made me sweat but as soon as I got the opportunity to leave I did. I actually enjoyed the manual labor more but the pay and the pain are not worth it.
One of the first things we were told at university was that only 10-20% were going to actually work in the field, the rest were just going to hang their degree on the wall and forget about everything. That teacher was correct.
This totally missed touching on the fact that even basic jobs that should only need a high school education need a college degree to be considered for an interview these days. Most people don't want an elite job, they just want to be able to afford a comfortable life.
@@adambickford8720 You used to be able to live a comfortable life under 1 wage, straight out of highschool, enough to support you, a wife, and 2 and a half children. You could do this laying brick or framing houses. Were *those* elite jobs?
@@BitTheByte Proportionately, yes! They were far better off than McDonalds employees at that time too. The part you're missing is there was far less opportunity to do better than that back then so it was better for the 'peasants'. We now have a ton of professional gigs that pay what only doctors, lawyers and architects made. The downside is, if you aren't willing to earn those gigs it's a step down from the old days. Keep in mind a house was < 1k sq feet and the only luxuries you had were tv and radio.
That is because you Americans treat education like a commodity. University education needs to be selective, and the number of graduates for each major regulated in a centralized manner.
@@adambickford8720 I think the main issue is that the 'benefits of an elite job' are largely just expected norms in the rest of the developed world. For me, the benefits of an elite job would be a personal driver, stock options, an expense account and a free box at the local football stadium, not healthcare, paid time off, overtime, a pension and sick pay.
My husband came home in disgust the other day because one of the bosses kids just graduated college and got a job in the office with the AC and the nice salary. Kid knows nothing about the business but instantly became the boss of people that had been there for decades. My husband had to work for fifteen years and knows the industry inside and out and still has a worse office than nepobaby.
That's just how the world works. If your family was in a position to give your children a well-paying job at the company you own, you would also do it. The boss's kid might eventually be good at the job (and might even be a good person), and your husband can perhaps work alongside him/her for mutual benefit. Network > experience/credientials/results always, WHO not WHAT, even if it's crappy and unfair
I dont mind construction BUT its a kick in the balls being told "you're the backbone of society" meanwhile people who just make excel spreadsheets and attend meetings everyday get paid triple my yearly salary. Spoiler alert, we handle relations and track a ton of shit and need to know all kinds of maths too. The system is a joke and deserves to collapse. EDIT: to further elaborate on my point. "They went to college! you shouldve went too xd" I got yelled at by a man in his 60s for 2 and a half years. He had drinking problems and had 2 divorces. This is a fairly common "canon event" - Why? because we're underpaid, underfucked and while white collar types get to work from home our PTO requests are denied because we have to get a job done on a tight deadline. You want more "backbone" workers? pay us more and give us more than 10 days of PTO a year mother fuckers
@@Marjax trades are skilled work. That's why they are increasingly highly paid. Fun fact: they also on average use things like maths skills at work at a rate much greater than the average white collar worker.
At least in Aus tradies makes more money than most white collar workers, and get 20 annual leave days as a minimum. The US has a problem with respecting tradesmen. I work in a white collar job and cant take paid time off 6+ months a year due to how busy it is. It seems the US has the least respect for workers of any developed country based on labour laws though.
Why isn't the law of supply and demand fixing this? If there are so many people qualified to be executives, then why isn't executive pay plummeting? Conversely why aren't the salaries of tradesmen skyrocketing?
Because it’s not about what you know, it’s who you know, and that’s a massive gate keeper that ensures the free market never comes near their gravy train.
Whats really frustrating is that these people aren't just being picky, they've been told their ENTIRE LIVES that having these jobs make you a failure. People will say you will become a plumber, janitor, or garbage man as an _insult_ . Our society has shamed away the rationality the same way they shamed young adults out of living with their parents.
@@КолзакМикхаылов The economy is also tight because, as someone who lives with 2 others, one a us military vet tradesman working on airplanes, 20 dollars an hour for a warehouse or construction job doesnt fucking pay bills. If your only option is to hail mary and risk everything with loans just so you can reliably have someone home taking care of kids, let alone save for a house rather than live paycheck to paycheck, then thats not picky, thats survival instinct. This doesnt even go into the fact that more and more peoples only option for those areas of labor are contract work, meaning max 3 month terms, no job stability, and not even a chance at a union, at that point you cant even use your experience for a longer term position somewhere else because they probably use temps too.
People don’t want blue collar jobs because it’s miserable back breaking work that doesn’t pay as well as it should. If the alternative is a higher paying, air conditioned office job, anyone in their right mind would pick that if it was within reach. Hell most people would pick that even if it paid less. As absolutely crucial as blue collar jobs are, the work is often absolutely grueling and a lot of people would choose *anything* else over that.
One thing a lot of people fail to mention about blue collar work is that there is a good chance you work overtime. My father is an electrician with his own business. Sure, he makes great money but he constantly works 60 hour work weeks because "the job has to get done by the deadline" He has a reputation to uphold if he wants to get repeat work with his clients. I know not every trades job is like this but a lot of people also willingly choose to do overtime which increases the expectation that contracts will be done quickly and up to standard. There's also the fact that not every union is built equally, and the good ones can be extremely difficult to get into. Likely requiring 5 years as an apprentice before you start making 6 figures. Long wait times, sexist attitudes, workplace culture issues all still exist within the trades.
@@rever98 I'll add to this. Nepotism often runs rampant in unions so the opportunities are not always distributed fairly unless you are well-connected. Also, depending on the trade and the season, you might find yourself out of work at certain times during the year, which can be a dealbreaker for those who have to live paycheck to paycheck. This fact can be especially brutal for newcomers who are usually the first to be laid off during these times due to their lack of knowledge, experience, connections, and/or seniority.
I have a friend who is becoming a welder. It's 2 years of school, and then starting pay is the same as lawyers make on average. Blue collar work pays much more than it should right now.
I find this informative, curiously explored her on the web, spotted her consulting page, and was able to schedule a call session with her, she shows quite a great deal of expertise from her resume.. very much appreciated
It's sad how difficult things have become in the present generation. I was wondering how to utilise some money I had. I used some of it for e-commerce business, but that sank. I'm thinking of how to use what's left to invest, but I don't really know which way to go.
I understand how you feel. It's a little bit difficult to navigate things these days. You don't wanna lose whatever is left. I may suggest that you find a financial advisor who could give you thorough advice on how to go if you want to go the investment route. Also, the fact your business failed doesn't mean you should give up.
That's right. I have tried many failed businesses and it's just a step further. Don't despair. But to add, if you do decide to use a financial advisor, it's best you use someone who understands your special needs and can work with you. I learnt this from experience before finally finding one I can stick with. Now I make six figures from my investments alone, and even more from my businesses.
"Rebecca Nassar Dunne" is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
She appears to be a true authority in her profession with over two decades of experience. I looked her up on the internet and skimmed through her site, very professional. already sent her an inquiry hoping for a response soon.
You literally have tradesmen who can't afford to live and are being under paid. I literally had an old guy tell me for advice when working at my wagie job, "you know you should work a warehouse job or do construction then take unemployment during the winter!" Then explaining to him that, "I would still need a roommate and I still wouldn't be able to afford a place by myself though and would be back at min wage again but taking on more risk" He got big mad. These blue collar jobs aren't paying more; they're bringing in more migrants to stop themselves from having to pay more for these kind of jobs.
Immigration is the be-all-end-all solution for all our problems according to politicians. Too many people going to college and not enough teachers? Immigrants Not enough nurses? Immigrants And etc.
Third-world citizens need to be banned from getting legal citizenship in the West. Ever since we switched from Europeans to the third world, our quality of life has gone down.
@@1queijocas Too few children? Immigrants. Economy growing to slow? Immigrants. Salaries to high? Immigrants. It's almost like the ruling class never make a single choice based on the interests of the native population.
SOME tradesman are underpaid. And you think that indebted history ART graduações are doing Fine? The poijt in thia video IS not that tradesman até millionaires, but that at least they aren't with debt thorugh the eu balls?
I think the negative connotation comes purely from the idea that someone who is overqualified is thought likely to be just using that job as a crutch until they can find something that matches their qualifications, so if they want someone long term then they don't want to hire someone who they suspect is just itching to leave from day one.
@@adhillA97 Yeah, it's nonsense that presumes that we're working for something other than money. I just slandering interviewers to their faces if they come out with this crock of shit, it's a dogshit culture and we both know it.
over qualified only worries them because you are likely to ask for more money than other at your same job position with less experience and studies at least in europe, they dont care much about people leaving when a lot of projects are made mostly of underpaid interins or juniors that leave the moment they get a slightly higher salary or better conditions
I just think it's a little silly to say "it's not fair to the people who paid" yeah. That's just how it works when you change bad things. it also wouldn't be fair to nationalize the healthcare industry and give everyone free healthcare because people currently pay out of pocket constantly for healthcare. It also wasn't fair when civil rights was passed and all subsequent generations had to deal with a little less oppression than their ancestors. "It's not fair to the one's who suffered to prevents others from suffering." is just a bad position.
@@GoldenSpoon109 Student loan debt should not be forgiven. We need to stop federally backing student loans all together. If you want to get an arts degree you need to figure out how to cover that because the banks likely won't, but they will always be happy to sign off on a STEM degree loan for those with adequate aptitude and academic performance. The real problem isn't student loans, it is these institutions raising tuitions far above and beyond inflation on the backs of federally subsidized student loans. If anything these universities need to come out of pocket and reimburse students and alumni for the highway robbery they've committed over the last 15-20 years.
@@apersonontheinternet8006 Agreed. It is a gov sourced problem in the first place. The subsidization, leading to incentives to drive up tuition costs obscenely.. That being said, the gov is already going to inflate the dollar and print money and piss away tax dollars, so it may as well be via forgiveness, which they're more likely to do than cease doling out these subsidized loans. But yes you're 100 percent correct.
Where does this delusion that people working elite office jobs are qualified to do them. I am certain that promotion at most jobs works on a fraudocracy system. If you can ever find a good boss or a good job, do whatever you can to keep them.
This is one of the things that keeps me at my current job. I work with good people and have an amazing boss. I dislike my job itself and while we have other roles in the company, all of them require either being even more of a people-person than I already am (and I'm trying to cut back on dealing with people, lol), or I need to be a developer...and I unfortunately have zero skills in developing. Mot people stick with the company for five or more years, which by today's standard is awesome. It's the kind of place you really can either use to launch a career or stay at and retire. A piece of me says I'm an idiot for ever wanting to leave, but my introversion really is tired of taking calls all day. I've been doing this for fifteen (15!!!) years by now, give or take a year or two. I need a shake-up, lol. Clarification: I've not been at thie job fifteen years, I've just been taking calls, previously at call centers, now for about that amount of time.
This thinking grows deep in asian people. Parents would tell their kid to study and get jobs in offices. They would be mortified if their children work blue collar jobs
i disagree about calling college graduates overqualified for blue collar jobs like welder, plumber, electrician, etc. If they do not have the knowledge and skills to do those roles they are not overqualified. They just have a different set of skills. The same logic would conclude that electricians and plumbers are overqualified to be corporate managers.
Incorrect. 6 is more than 4, 4 is more than 2. Ergo Someone with a masters degree that took 6 years of schoolwork is more qualified than someone with an associates in chewing tobacco that took 2yrs to complete. It takes 12 years to become a doctor. If you're saying the guy at jiffy lube with an auto tech certificate is more qualified than a neurologist you're insane.
@@kreativeforce532 it depends on the job, NOT the skill set of the person who is applying for it wether or not he/she is over/under qualified. A doctor applying for a job in accounting is under qualified. Same as how an engineer applying for a nursing job is under qualified for the job. Saying a doctor is over qualified for a plumbing job is like saying a fish is overqualified to fly.
I have a masters in economics and marketing, busted my ass till 23, luckily only 23, for it. Went to dozens of interviews, called on hundreds of positions. Got sweet FA. Requalified as an electrician, got hired on the first "interview" I went to by a big burly bearded man in overalls. Understandably, I was a bit down for a little bit, but I had no issue with manual work. 10 years in trade later, soon to be anyway, I earn more than I thought was possible, I have 6 weeks of paid vacation, paid health insurance/other assorted benefits and work with a team of handymen who love their work and don't stress about any quotas, deadlines or other funny terms thrown around these days. Point being, working a trade isn't shameful or degrading in any way. And I can tell you for a fact people won't need another joe in marketing but they sure as hell will need someone to do their plumbing, put together their closets, wire up their lights.
People also act like there's some disconnect between the trades and more academic subjects, and it's just not true. My cousin started as an apprentice electrician, and a number of years later was doing her masters in electrical engineering, paid for by the company. It's often far more valuable to do these higher-level academic qualifications once you have experience in the industry, because it's easier to make connections between what you're learning and the real world.
I graduated with a finance degree in December 2008. After doing odd jobs and pyramiding credit cards for a while, a friend finally got me a job as an installer where he worked. I was told to not mention that I had a degree because the people who work there would look at me weird. College was the worst 'investment' of my life.
I hold a degree in biochemistry from a top research university. I am currently working night shift in a factory. Nobody there knows I have such degree and I don't ever mention it.
@@WPFreeinternet One thing I also notice is that often the degrees that end up being the trickiest to make pay are ironically the ones with a clear and obvious route to a high-paying job. I'm thinking finance, economics, law, business studies, etc. The problem is that everyone does the same thing and you end up with thousands of law graduates when the number of jobs in law is unchanged. This is a big problem in Asia where I'm working at the moment. I work with students aged 15+ and I don't think I've met a single person studying or planning to study maths or science, because their parents push them to study something where the answer to "What job are you going to get with that?" is obvious. Obvious, but wrong for the vast majority, unfortunately. So like in the west, most of them spend their lives working in unfulfilling office jobs where the degrees weren't really necessary.
The real problem is, as almost always, Reaganomics. Elite jobs have always been more prestigious and usually more profitable to be sure, but we've chosen an economy that makes non-elite jobs not just less prestigious or less profitable, but functionally unlivable. 50 years ago you could buy a house and raise a family working as a counter clerk at a store like Sears. Sure it might not have been the biggest fanciest house in the city, but it was yours. Now you need to be a top 1%er to have a hope of getting a 1-bedroom apartment in most large cities and a top 10%er to get a house practically anywhere in the developed world. GDP has gone nowhere but up during that same period so how does is that possible? Well, mostly because we've decided its "unfair" to tax the world's richest people and companies more than someone making $20k/year. And since the government still needs to pay someone to police children's pronoun choices, that tax discrepancy means the poor and middle class are paying more and more to subsidize the wealthy rather than the other way around. It's hardly new though. The gilded age of the late 1800s/early 1900s was in a similar position, and we've all seen the pictures of the work lines and kids in factories and all the other things the ultrawealthy are trying to get re-legalized 100 years later.
Top 20% is good enough. I worked and worked and worked my way up from poverty. I didn’t have kids so my dear niece has been and will continue to be given a hand up, lucky young lady.
The Reaganomics has little to do with housing prices, but it is definitely responsible for the vast amount of corporate welfare in past decades. Tax breaks, grants, handouts, giving our tax dollars away and we have no direct say on it.
@@coke8077 > Reaganomics has little to do with housing prices Certainly not directly. What Reaganomics does have to do with is wages stagnating. Housing kept going up and up and up while (almost) everybody kept making the same amount, inflation adjusted (there's a slight increase but it's a fraction of the inflation rate - which is even worse when you realize inflation was 1-2% for more than half that time). So why didn't that apply to everything else? Well of course it did, but it was masked by the simultaneous explosion of technology. You can by a much better TV now than your parents could 30 years ago not because you earn more but because TVs cost significantly less (again, inflation adjusted). Of course nothing in the real world is ever that simple. There's an argument to be made that such grand levels of technological innovation wouldn't have happened if we didn't subsidize the wealthy and let them move from "ridiculously rich" to "obscenely rich". But that argument is fairly winding and ultimately unprovable either way. Wage stagnation on the other hand is immediately obvious when you look at the data - while it's still technically a correlation (not a causation), there is little question that wage stagnation is one of the results of Reaganomics. The correlation isn't exactly harmed by wealth transfer to the top being an explicit goal of Reagan's policies either (hence the moniker "trickle down" - give everything to those on the top and they'll "trickle" a little bit of it back down to you. Really, they will! Pinky swear!)
It's interesting how usually coastal liberal "elites" always blame every single thing on Reagan. It's weird. There have been 9 presidential terms since then and loads of other high power politicians like Pelosi or Biden is power forever....
Understand that we've come to the point where life is so saturated in so many areas, the majority is fighting for a livable wage while the minority is so incredibly rich it's laughable. I work in a decent job, for the country that I live in (Netherlands). I have no prospect for a house, I basically don't own anything. I ask myself daily on my commute to work why I'm doing any of this instead of just quitting and living off the governement. Back in the day I thought only 'losers without ambition' would do that, but now I find myself realizing that I am the loser, with ambition that does not get rewarded.
I just graduated trade school, I’ve been working as an electricians apprentice for about a year now. I make 21 an hour at the age of 20. The trades still need people!
@@nunyabusiness22 you should atleast try it. I went to college for a year, really didn’t like writing papers. So I just decided to learn electrical because it requires an understanding of science and working with your hands
My brothers have pivoted into HVAC. I'd like to find something I'm good at with my hands or at least, a job that isn't about talking to a stream of people as the main role of my job. I work for an office that works with my state's agencies, so I have more benefits than ever before, but I'm just a glorified call center agent, still.
I make $24/hr cutting steel in Missouri. It's not lucrative, but it pays the bills and offers OT when I need it. I can also save enough for a modest $2k vacation or emergency - which is considerable, compared to most (though saving for retirement is a pipe dream). My advice, always keep looking for work and asking for the highest (if not a $1 or 2 more than the max) pay possible. Companies will try to whittle you down; giving a higher number mames the hiring manager feel like they're meeting in the middle even at a higher than average wage. And no, this will no work at every company - shit probably not most. But some will.
Not everyone can stand next to an open septic tank without losing their lunch. Those mighty few should be compensated properly. Definitely more than those who can complete a TPS report on time. Not everyone can stand on a roof carrying 40lb solar panels in hundred degree heat. Those mighty few should also be compensated properly/. Unfortunately from what I've seen most of the money in that industry also goes to the owners instead of workers. If only there were something where the workers owned the businesses they worked for...
Shares in the business? For *gasp* employees? Come on, shares have to go to the public market to people who are more likely to short the stock than care about the business!
@@egorsozonov7425 I'll freely admit that meters and grams are more handy than the freedom units feet and pounds; however Fahrenheit is better than Celsius in everyday use. It doesn't go negative nearly as often, and it's more granular. Don't need to use decimals as often while still maintaining accuracy. Comfy temperatures in F: 65-75. Comfy temperatures in C: 18.33333333333 - 23.88888889. Crisp temps in F: 0-32, in C: -17.777777778-0. Hot F: 90-110. In C: 32.222222-43.33333. A 20f gap is the same as a mere 11c gap.
Why should the workers own the buisness unless they bought the equipment themselves? If worker did not buy all the expensive equipment and property needed to run the buisness they have no right to demand ownership
I think one of the biggest problems is that regardless of which path you choose, you get criticized. Go to college? Ha! Trades pay more anyway. Why bother with insane debt-load! Go to the trades? Your fault for choosing a dying industry. Shoulda gone to college. Ignorance prevents progress.
"everybody is qualified to deliver a stakeholder engagement deck to synergistically blitz-scale a business-to-business platform for ingesting marketing survey data from the cloud" is my new favorite sentence 😂
Also, Turchin is wrong about dead wood. It's an integral and necessary part of the forest ecosystem.. though I'm not sure what that says about underemployed people
If most average, everyday jobs *also* aren't enough to achieve the basic lifestyle fundamentals a given society creates; why would someone aspire to get/keep them?
@@mzaite don't forget lifestyle inflation. If a lawyer gets a $200k+ salary, he/she is most likely going to buy the big house and drive a Mercedes Benz.
@@mzaite but if you aren't even to pat for those things with a full time job, why would people aspire to get one of those underpaid jobs that's the point OP tries to make. a job is supposed to make you enough money to live from, if that one job isn't paying enough to live from people will shun that job. if it costs you $2000/month to live in city A, and you make $1500/month at a fast food job in that city. no one will want that job because you can't even live from what the job pays you.
@@ChristiaanHW And yet it happens all the time, long commuting, side hustles, second jobs, chronic room mating. People do lots of crazy irrational things that undermine markets and over complicate things.
@@mzaite wait, maybe i don't get what you're saying. but it seems to me that you blame people who decide to live in groups rather than by themselves or as a family. and people who have more than one job because one job just doesn't pay enough to live of. for less profit for the companies that put them in those positions. if that is your message i really have nothing to say to you because that's just backwards. blame people who don't get payed enough to buy something, for the fact that they don't buy that stuff (for what they don't have the money). if you want people to spend money you need to make it so those people have money to spend.
I remember when I was a kid I asked my mom if I should go to trade school to be a technician. She said ‘serious’ people don’t go to trade school. So now I’m in my senior year of college for my computer information systems degree while being in the military part time. Pray for me. I hope my degree isn’t worthless lol
Get some mentors who have the life you want, to help guide you. You or your circle may not have all the answers, so lean on wise counsel (Proverbs 19:20, Proverbs 20:18, Proverbs 24:6-7). Good luck to you and congratulations on your forthcoming graduation! 🙏🏾🎉✨
Not that I wish it happens to you, but it did happen to me, after graduating from computer science engineering I was never able to get a job, had several interviews but never landed anything, now I'm about to become a certified electrician, thinking I should have done this when I was younger,
They do get make livable wages. Plumbers, HVAC technicians, electrics, mechanics, etc make bank. This is especially true if they stick with it for at least 8 or so years.
This housing demand crisis would adjust itself very quickly if tradesman were paid better and given social security nets that allow them Healthcare and a decent retirement. But that's not squeezing the bottom line enough, and profit margins need to stay high to keep investors happy, so just rubberband that price all the way up anytime a tradesman asks for fair compensation without getting the runaround. This applies to any of the bottom of the pyramid, people don't fall for the college trap because of dead-end careers, they do it to avoid getting strung along in the poverty line while working 60 hours a week.
Socialism always fails. Plumbers, electricians, HVAC repair make huge salaries and can fund their own retirement. The feds need to stop funding universities and university loans. That would fix the problem.
Society produces the type of people it requires with the overall aim of always reducing the cost of labour. The old school system was designed to create factory workers; today the university system is design to produce white collar workers in quantity. This has had the effect of reducing the value of the white collar workers. The trick you need to master is to select a profession which will be in short supply so you can gain higher levels of job security and income. This is often luck and you generally only get once chance when you often lack the maturity and experience to select the correct profession.
Once again someone who has never worked in trades is talking about how great the trades are. If you honestly thinks its easy to just walk into a mid six figure trades job you are delusional. You have to first apprentice doing hard labour for minimum wage for years and they do not allow newbies to operate dangerous machinery and/or mess up construction that could cost lives.
It’s absolutely not easy, but it’s not easy to walk into a six figure corporate role either. I am nobody’s career councillor but I think it’s a mistake when people do t at least consider a career in the trades.
You could not be more right. First 3 years were an absolute kick in the balls. I had never worked so hard for so little in my entire life. It eventually got better. I'm a master electrician now 10 years later, but that first hump is rough.
... at least you're getting to apprentice and drawing a wage with the hope of something better instead of having no hope whatsoever because you're unemployed and spending all your time eating ramen and applying to jobs all day.
The sales department is the worst for title inflation. No one will even talk to anyone in sales that isn't a "manager". However the worst I see is that there are so many stupid people with degrees, and not just business, English, or justice majors. Even the engineers are sub-par half the time. I know, I'm one.
I used to work at a job where I was a bit of an all-rounder. I used to just say I worked in admin, and I think 'administrator' was the job title on my contract. When I was leaving, they advertised my job as 'business support manager.' That went right on my resume. Never managed a single person.
I would’ve loved to join the trades before undergoing a CS degree but it was more easier to have access to a college education than the gatekeeping that Unions have on apprenticeships.
@@zlr9022 People that I know that joined their respective trades were always aided by a family member especially here in the port of los angeles and the oil refineries. I on the other hand applied directly off the street and never herd back anything. Applying for college and getting accepted is far more easier than a trade imo. Unions are far more nepotistic than regular companies and schooling.
Maybe one thing to point out is that Blue Collar works especially in Construction field is literally killing people from toxic work environment and overall depression. While most white-collar worker can go home and rest assured that their work stress doesn't kill them and they can just turn off their computer, blue collar workers are dying on the field, physically and mentally. This usually leads people to pursue more and more white-collar jobs even though it paid less than blue collar.
Agreed. Most state OSHAs are a joke. There is little recourse for most workers. The union ones have some but even then, the contractors and the lobbyists have more. I fear for my partner’s safety almost every day since he works in construction.
White collar jobs are also extremely exploitative now. You pay for your own training and often do unpaid internships. Tome blue collar work is exploitative too but the labour mobility is extremely high so hopefully you can find a good workplace. The only issue with blue collar work is that often you’re working for very incompetent and unconscientious people so it’s a massive adjustment.
I mean at the end of the day it’s all about having good pay, benefits and time off, so it doesn’t matter I have a degree and a internship from a top bank. It’s smart for me to pivot to work for the city as a cop or fire fighter so I will do that.
@@joelcartagena9332 Also safety. All the money in the world won't help if you don't live long enough to see a paycheck. Hence why being a cop or fire fighter is an awful idea.
@@petelee2477 being a police officer or fire fighter isn't as dangerous as it sounds. to give some perspective. in my country in the last 80 years, 99 fire fighters have died. (most of them far in the past, in the last 20 years only 7 have died) and at the moment my country has 27.000 fire fighters. so to make it easy to calculate lets say the amount of fire fighters and the dead rate has stayed the same in the last 80 years. that means that we had 80 years x 27.000 fire fighters = 2.160.000 people in fire fighting jobs and of those 2.160.000 only 99 have died, that's a dead rate of 0.0046% (a chance of 1 in 21.000) and as said in modern times that rate has gone down significantly (20 years x 27.000 fire fighters / 7 deaths = 0.0013% or a chance of 1 in 71.000)
Ok - so if blue collar positions are in such high demand, why is the pay so low for these jobs (I’m including teaching and nursing here as well). This seems to defy basic supply and demand
Finance major big state school grad 2017 with a 3.5 and couldn’t land an entry level corporate FP&A job for a long time, got depressed, then once I did at a big company, fixed a forecast model with a simple PEMDAS math mistake and I was like you have to be kidding me. Could’ve done entry level FP&A out of high school I swear. Also didn’t know hiring was basically outsourced to recruiting firms who basically decides who gets an interview in corporate America
@@raybod1775 we need to be more honest to high school and college kids about career trajectories, the real world not being fair etc. bc when you go from AP high school student and football player to solid finance graduate from a now tougher to get into college, to working in a minimum wage package hub at 3 am for 9 months to get an interview at the corporate office, you get depressed and a nicotine vape addiction pretty quick
In high school we had a program where we could take one day a week to work with different trades, to see what we liked. It counted towards our finishing high school grade. The tradesmen I worked with continually discouraged me from taking up a trade and said I should do something like accounting, finance etc. Not realising i had no capacity for that and no real interest in it. Twenty years later, after pissing around with other things for 10 years and wasting valuable earning time, I train and assess people in trade skills. I wish I'd done the trade straight out of school and I think we need to rejig what we sell the young as desirable.
I’m glad you mentioned “capacity and desire” for certain work. When I was younger (Gen X), it was all about getting a degree, especially as a female. No one was telling a young woman in high school to get a trade job. If you were middle class growing up, it was “go to college so you won’t be a loser”. If you didn’t have the desire to do anything related to a degree…didn’t matter; go get one anyway. Didn’t matter if you didn’t have the skills for math or science, better get in there and get a STEM degree (it wasn’t called that back then, but same difference) or be a doctor/lawyer/finance person. We got “keep your head down & work hard at a REAL white collar job you’ll probably hate and you’ll be successful” crammed down our throats.
That is pretty wild, but a lot of companies are asking insane whiteboarding questions, coupled with tech layoffs, it is a rough market out there. I would hate to be graduating into this. Some of the stuff I hear about in these interviews is bananas because 98% of it is irrelevant to what I want in a jr. engineer. It is to the point where you have to decide if you are going to be a real software engineer or make a career out of the dog and pony show that is FAANG-style interviews.
Unlike computer science, the factory work actually has to get done. So it’s an available job. Computer “Science” is a cute degree, but companies need hand’s and Eyes more than they need another keyboard smasher when they can just trick their current one into over working.
@@mzaitethat’s not how it works… companies def need swe for their software needs. If anything most jobs swe and factories r getting outsourced or replaced….
CS degree is useless if you don't actually learn any skills. Out of the 15 majors I graduated with 3 of them never went to class and are trying to boot camp their way into the market because they never actually learned any languages or skills.
@@dencentbeatz794 Except all the places that still do build here, often so they can claim the"made in the USA" premium, or fulfill government clients. They only need to outsource Software engineering.
As an over-educated, underemployed elite I have a few thoughts on this... 1) One of the greatest problems in our society has been tying the concept of education to work...i.e. I go to school to get a good job... when really the two shouldn't be linked. When Jefferson talked about the importance of an educated citizenry for the survival of our nation he wasn't talking about corporate bottom lines and employment numbers (see....over-educated) it was something much more fundamental. Understanding, questioning, analyzing are all things we learn to some extent which help to ensure the health of a democracy. However, as valuable as educated folks may be for the survival of democracy it seems to be much less valuable to capitalism. For the owners, a few educated folks are good and necessary a doctor, an engineer their education provides something clearly of value to capital, but education of the masses is kind of anathema to their interests. What Robber-Barron wants their workers to question their decision or demand better pay etc...Sure, business may have agreed that folks should know enough math to pay their bills and buy things, and be literate enough to read the bible or the occasional headline, but I really don't think they weren't sold on the idea of a truly educated electorate. So when the advocates of more and greater education for the American populace were trying to expand schooling, they sold it as a kind of workplace readiness program because the Owning class would accept it. Thus for a hundred years or American's (and those living under capitalist systems) have viewed education, not as a good thing in and of itself, but as a means to an end. I study this to develop that job skill. I go to college to get a better job. Yes, of course there is some cross over, where the things you learn in school are directly relevant to your job, but in many cases the two should be divorced from one another. How many jobs are there that require a college degree but don't really require you to use any of that knowledge? 2) There can be a definite snobbery to the "educated" classes in comparison to the "working" classes. My father was a carpenter and for a few years I worked with him and thought I'd probably be a carpenter too. I enjoyed the work, had a good teacher, and maybe a familial knack for it. Life took it's twists and turns and I ended up as a scientists instead of a carpenter. But I have always loved building and making and sometimes wonder, to this day, if I made the right choice. Anyway, I remember being in college and telling one of my friends how much I loved construction and how I missed it and wondered if I had made a mistake in not pursuing it. The look of absolute revulsion and horror on her face told me all I needed to know. She had no respect for that kind of work and viewed it as beneath anyone in "our" position. Which is truly sad. 3) It's not just Liberal Arts majors that we are producing too many of. In the sciences complementing your PhD used to be enough, now with the glut of PhD's you pretty much have to do a Post-Doc to get a professorship, but often to get a job in Industry as well. This is a contentious issue, but as has been pointed out, if there weren't so many "eager" PhD's entering the job market every year wages for Post-Doc's wouldn't be stagnant or even declining in some cases.
Hannah Arendt wrote that the dichotomy between "manual labor" and "intellectual labor" is a complete fabrication. In fact, one only has to look at craftsmen or tradesmen to see how clever they must be to carry out their tasks without damaging their work or blocking their colleagues' personal space.
If there’s such high demand and low supply for trade workers, why are they making so little? Like you said, trade workers don’t make much until they own their business. Don’t get me started on teachers and nurses.
Oh please, i'm so sick of the teachers and nurses lies and BS.Teachers are always complaining they only get 42k a year for 9 months of work + medical and other benfits, when in truth that salary rockets up to 80k+ if you stay in the job for half a decade. 42K and benefits + 3 months off (to, shocker, work another job for more money if you want!) is already plenty in most areas for what they do. And 80K is *way* more than enough. I'm sick of people living above their means and whining about it, and then twisting statistics and ommiting information to con others.
@@chrisjackson1215 you say that as if 80k + 3 months off is a lot. Teachers are literally shaping young minds. We should put top tier talents to it. Now we just sayings like those who can’t do, teach. You need enough money to draw talents away from finance and tech and law if you want to solve the issues outlined in the video. That means 300k+ a year in HCOL cities.
@@StarAZ I do say it like it's more; because it IS a lot. If I was able to survive on disability at $800 a year just a few years back I SHOULD THINK that 6K+ is more than sufficient. Even 3k+ a month is more than sufficient if a teacher did only make 40K (this doesn't even account for summer jobs). If not, then you're simply terrible with money. And besides that I've seen how teachers "shape minds" these days They're not the teachers of the twentieth century that did their jobs well. These are teachers who are so entitled that they're willing to strike every other week and sabotage students' education because they demand more pay. Don't try and tell me that they do their jobs or deserve more with that attitude. And that, of course, is even if they were being underpaid to begin with.
I think it’s important to mention that had workers’ wages kept up with productivity, most people would be making more money and less desirable jobs would be sought after more frequently. Another issue that we have today is the so called less desirable jobs don’t pay enough to support a family and people are working 2-3 jobs just to make ends meet. I believe some people would be content with working a job right out of high school if the job actually afforded them a livable wage. I could go on but I think those are the more significant things I could think of to make this video more nuanced.
I have a few problems with this video here... 1) I have Bachelor's in accounting. Companies, even accounting firms, cry and whine around where I live, how they can't find qualified workers including accountants, yet, I can't find a job in my field. Even on rare occasion get refused and then see that same ad refreshed on the same job board the next day. It is as if companies refused to hire people that they needed. Furthermore, some companies, usually the bigger ones, run ads, that are never supposed to end up hiring people right away, rather they are meant to create a database, so question is, what is the actual demand for any particular job? This has persisted for years. The "lack of skilled workers" is discussed on TV all the time, yet youth unemployment is still double that of general unemployment! If there truly were no qualified workers, you'd expect companies to hire people and grow and train them them selves irrespective of education, meaning the requirement we'd see the companies drop would not be education alone. We'd also see the working experience requirement dropped, however, what I have seen across my nation is the opposite (I'm talking thousands of sent CVs and hundreds of interviews here. At this point, I am statistically significant). I'm talking junior level jobs demanding two, three, four, I've even seen once five years of working experience in the field for a junior and the working experience requirement is not being dropped, rather it's on the rise! Given it's the employers, who supposedly dictate the job requirements (I mean, you had a video on this yourselves), if they can't hire anyone, shouldn't they raise their own workforce? 2) No, the problem of housing is not workforce shortage. Look at, where lack of housing is the most acute! You'll get California, especially San Francisco, New York and other similar places. What do these have in common? Overbearing and overblown bureaucracy, that makes construction process start in an office and the in office stage takes 60% to 70% of the time spent on the whole construction from initial planning to sale of the finished house. The problem here is, the larger the city, the more economic opportunities but also more bureaucracy, meaning fewer new homes and therefore higher prices. 3) The video appears to me to ignore the influence of technology. Sticking to the world of construction, there are already prototypes of brick laying robots and construction materials techniques, that will not need to use mortar. First houses using these technologies have already been built too! Meaning we will not need so many laborers to actually build the house. We're being told AI will replace jobs being done (most visibly drivers, but also basically any entry level job in finance, coders...). If we look back in time, we'll see, that technologies have usually displaced the more vulnerable people, who tended to be blue collar. Wouldn't it be appropriate to assume, that the same is going to happen in the future and is happening now? 4) And on the count of trade, how many of these blue collar workers have university degrees? We usually think about electricians being only a trade, however, where I live, in order to become a freelancer in the field, you either need loads of working experience, or you need a university degree in the field and a few less years of experience. Forestry also has a degree in the field. The point is, there are university degrees, that produce blue collar jobs. How are these graduates counted? 5) Sticking with the degrees, what is it, that actually gets you a job? Because I'd argue it ain't the degree. It's the skills you were learning getting that degree (hence why it's so important to evade ATS and get straight to the recruiter). Which brings to mind the quality degrees them selves. What the hell is a Woman's studies degree for? I recall having a subject called "Leadership of diverse teams" in my failed attempt at Master's. I thought, that I'd learn, how to accommodate for different employee needs based on their cultural background. Result? Seventy percent of the course was about how women are "discriminated against". Meanwhile, women are absolutely killing it in the economy. My chosen field of accountancy is outright dominated by women! And any back office team you can bet has majority of women doing the job. The session was literal propaganda. Point being, assuming I'm right (which I'd argue I am, given employers are whining, that universities don't prepare workers to do their jobs, though there is a caveat, that unis have to be a bit delayed, given they don't work with the live process), shouldn't we scrutinize university programs more? That propaganda session I had been through could have been replaced with something different, for instance how customs are done, calling it "Regulatory aspects of international commerce". Why don't we ask ourselves the question, whether the quality of degrees had not fallen because of identity politics or bloatation of unnecessary knowledge in academia?
Its similar here too in India. I am in a computer science and engineering (Artificial intelligence and machine learning) degree. The whole degree seems like a joke. I am in the 3rd year. With the 4th year left. Guess what, we just got introduced to AI. Not even something you could apply. It's all theory which i learned in a few minutes. Teachers in each subject are surprised how i am answering every question and stuff. But all it takes is someone attempting to critically think and you are already ahead of 90% or even more people. To your point about the value of degrees. We have a push everywhere i see and go about certifications and how important they are. These are from so many similar firms. If the certification is going to get us a job then why not replace the outdated syllabus with the certification which guess what also sucks. In a field as fast moving as tech and AI you'd hope they would be competent with their syllabus. I don't think anyone in the entire class or the year, It's around 200 students, are even qualified for basic excel. Then this results in crazy but true stats about how engineers and higher educated people are employed. Of course they were scammed by the system, you would think they would teach you something useful but nope. Either way, people seem to celebrating how they are getting these international jobs from America, Canada, etc. But forgetting it's not just their skills that got them there. It's the outsourcing of jobs from those countries getting you your job. Also why pay an employee $50k a year when you can pay someone $10k in another country and they will gladly accept the job. It's the exploitation of labor everywhere. Sorry for the big rant. I saw your lengthy comment and felt like adding in a bit context. We're all fucked. "It's a big club, and you ain't in it"- George Carlin.
@@epicmit9618 And what's the worst? Even if we'll be generous to Unis, they can't keep up with development, because they don't work with the live process and weven if they did the research, it takes time for the sylabus to update itself too. A process, that is too slow to take latest developments into account by it's very nature, mostly because noone can predict the future, least of all economists.
If the question was, "what is the good of accounting", it would be reasonable to grant you some leeway, but, no in the areas you are straying into. It's time to get real. Capitalism see Labour as a resource. Full stop. Personal fulfilment and your need for status means very little in the scheme of things. Why? You're only employed to solve their problem really. And as soon as they find a more cheaper, and/or efficient means of solving the problem you're employed you to do, you will lose that job. That's what they call progress. All that stuff about looking after their workers is only to attract the very best candidates from the labour pool. And even they will be discarded at the will of the God of Profit. Thus our economic ideology at the present is almost bad Social Darwinism. It's a meat grinder, as the Pink Floyd album 'The Wall' correctly identified. And the question is will you be inside it or turning the handle? If all the AI hype is to believed your job is on the chopping block. Most white collar jobs will be on the chopping block. Thus, Economic Darwinism suggests that you transition to i) another profession, ii) UBI, or iii) Soylent Green. That's it. The rest - university, school, etc., it's all salad dressing on a system designed to produce economic active workers. When they can no longer be economically active, which AI threatens to do, nobody is willing to commit openly to some form of option iii). But you'll hear Warren Buffet and his son talk about "Degrowth", and they are trying to get the Masses to accept that one way or another the current economic model is on its way out. Thus, human ingenuity is now being directed to unwinding it. The question is how many people do we need? In that context, what one learns in university is learn how to learn in a limited specialisation, which we might not really need anymore within this, or the next century, due to advances in technology. So we might turn to space to find places to expand into. Or, we might not. Nobody's sure. But, the lesson to take from this is, don't take your self-esteem from your job. Rather, take it from your ability to adapt and your resilience. Take nothing for granted, and be grateful for what you have. Happy travels.
@@CuriousCrow-mp4cx Except, you're forgetting, that all production needs to be consumed by someone, otherwise it's worthles and its value is 0, but has born expenses. Vast majority of consumers are workers, hence why true capitalism would NEVER see them as mere input. Tomorrow's profit also count's (why would banks give businesses loans at the same times as businesses saught them, if it didn't) and the workers are the ones in whom the tomorrow's profit grows. The fact, that particularly in the US everybody's obsessed with weekly and monthly figures and doesn't care about a year and above, is not a flaw of capitalism, because capitalism thinks holistically. Hell, even things like the environment, which the Left claims is destroyed by capitalism for the sake of profit, has been better preserved in capitalist countries than in actually communist ones, which had protection of environment within their laws. Why? Because some functions of that environment gain such a value, that expending it to produce profit reduces profit even without external factors being involved (it would be nonsensical to destroy hotsprings to mine couple fo tons of coal. It makes sense to build hotels and other infrastructure for guests, provided there is not enough coal to mine). As to the three options you presented. I have some bad news... i) the situation I described is everywhere and thanks to legislation where I live and general employer attitude, I cannot transition easily into another field, hence why I need to ride this out. To illustrate, in order to beocme an electrician, I'd need to attend a highcshool for three years obtain the diploma (not even a proper degree), in order to become eligable for another set of education and experience to obtain a license, which is required by all the employers in the field. Even ignoring the impossibility of obtaining the experience without the possibility of getting hired, that's another five years of no income, all the while having normal living expenses. That's a non starter. Similar situation is in most fields, that are likely not going to get affected by AI. So retraining and transitioning is not viable option. ii) UBI is BS, because that money has to come from somewhere. The problem is even if you perfectly matched inflation with creation of new money and deposited it into bank acounts of actual people, base necessities like utilities (if they're not properly regulated), fuel (because you still need to hold down a job and it doesn't matter, how you commute, gas get's burned somehow somewhere), food & drinks, healthcare and most importantly rent and house prices would run faster than general inflation, because these things are very price inflexible, because these actually need to be expended for a person to live. Meaning if you introduced UBI, those who already don't earn enough to maintain a living wouldn't get help (they're in the red as it is) and those, who are right above them would get sucked in with them, because these base expenses would grow just slightly above what was actually distributed by UBI, because that can only be tied to either median or mean inflation, as to be socially acceptable. Mandatory employee ownership of employers could provide a better outcome (employee shares as a mandatory hiring bonus) iii) likely not Soilent green, but I do see use in Fertilizer (It's Spacer's Choice!)
People were sold the idea that we live in a meritocracy. That if you work hard, and delay gratification you will succeed; maybe that wasn’t true. But neither is the idea that forgoing college for a blue collar job is the road to success. The economy could only support so many plumbers. There are also very few factory jobs to support a reasonable standard of living.
You're not wrong, but the "easy" road success is to penetrate an undersaturated market. If blue-collar laborious workers are in undersupply and overdemand, then there's good money to be made with little start up costs in training yourself. If white-collar thinkers are in oversupply and low demand (thanks AI), then there's little money to go around so you better be the best, AND the start up costs in training yourself are high due to interest rates and college costs.
Working hard is a very general term and delaying gratification does work in the case of investing in a low cost index fund. Sometimes working hard might mean putting up with doing something stable that you don't like in order to invest, using delayed gratification to reach a financial goal. It's not studying hard for advanced degrees (going into more debt) for which there are no jobs for.
@@SurpriseMeJT You’re missing the point. Billions of people all over the world work hard. The vast majority of those people are poor. The data shows time and again that there is no meritocracy, and historically there has never been a meritocracy. Just some years ago people were doing the same thing - mocking you if you didn’t get a degree, saying you deserved your poor lot in life because you didn’t do the hard work to get a degree. Now, people are saying what you’re saying. “You should have gone into trades rather than getting a degree and going into debt!” And so the cycle continues. More people are going into trades and trades will become saturated, and they already are starting to become saturated. And then people who have gone into trades and can no longer find well-paying work will be mocked, “because you should have done something else!” Makes me wonder if we’re ever going to see this scam for what it is. If you are a working class person - and most people are, whether white or blue collar - then you are at the mercy of those who have capital, the wealthy. If the wealthy - companies, politicians, the politicians’ owners - decide that they want to put downward pressure on the job market, that’s what they do, because it gives them more ill-begotten gains. And that’s what they’ve been doing unchecked for decades, and what’s happening now. You can try to pivot all you want, but this is not a tenable situation for any working class person to be in, because we’re rapidly coming to a point where there’s going to be little opportunity for anyone.
I work as a Director of Construction Management here in NYC. And I can tell you no road worker starts at $20 an hour. Starting is $42, even for construction inspectors with just an OSHA 10 with no training. It is super hard to find people to fill the roles for the constant projects we get. Even I get out of my AC office and go to the project sites, thinking about switching jobs.
@@TherealbrezWell here in Indiana where homes around me are $150,000. Apprentice trades are starting at $25 ish an hour and people still won’t work for it. $50k a year starting and people are still saying no. Everyone wants to go to college and move to Indianapolis to work for Salesforce or Eli & Lily, which is fine, but is ridiculous
As a homeowner I wish you (the general tradesman you) would. I can’t compete with corporate buying power to have a driveway remade. There’s just enough trades people to overprice the market out of the realm of non-corporate customers right now.
I agree with you. My dad has worked blue collar his entire life and he is absolutely sick of it. He's 59 and wants to retire by 62. He makes very little money. I would rather just go to college instead and take on the debt.
@@mzaiteI think u mean everyone below upper middle class and wealthy. Non corporate entities can def afford it. Just depends on income and investment accumulation.
@@dencentbeatz794 I don't, because they represent a very small percentage of the population and so are a secondary market compared to corporation "property management" and industrial construction/repair.
Living paycheck to paycheck when you're making a quarter million a year isn't caused by living in an expensive area. That is pretty obviously a spending and budgeting problem, people feel entitled to luxuries and think they're necessities. I remember reading an article 15 years ago about a family that was paycheck to paycheck on $350K a year, meanwhile their kids were all in private schools, involved in expensive extra curricular activities like Equestrian and travel team sports. All their cars were less than 4 years old and they lived in a McMansion home in one of the areas most expensive neighborhoods. That is a totally self inflicted problem and gets no pity from me, stupid is as stupid does.
You’re focusing on the wrong thing. Regular people are NOT getting paid enough period. We’re not talking about these dipshits that make 300k a year living paycheck to paycheck.
Yup I've seen this alot. I think generally people will live at the top of their means. A few smart folk will live well below their means and have more time and money to enjoy life.
Fun fact, you can replace every example of a degree that was mentioned with a STEM, especially a science or even ENGINEERING degree and it's still true. Imagine getting insane debt, wasting 5 years of your life to get a chemical engineering degree just to only be a dishwasher.... couldn't be me.... definitely not me.....
I have got dual majors. Exercise science and philosophy. This was health ethics. I got paid 18.50 being a surgical assistant to get my 1K hrs for a PA. I now get paid $23 being a security guard watching youtube.... and I'm way happier The world is weird. Kill the ego or the ego kills you I suppose
It's important to have a variety of hobbies at which you can be good and get good in order to find some self actualisation when your job can't provide it due to being beneath your skill level, or not even in somethinbyou care about.
This video hits wayyyy too close to home. I just finished a college diploma as a software dev and it's been few months now that I'm looking for a job without any positive outcome, 6 months to be exact. Before starting my school program, I was told that there is actually more job offers than students graduating from my kind of programs. Now that I'm done, I'm like where the F are the jobs? Good things my debts are only few thousands, I'm reconsidering my whole life path now.
Being an aspiring software engineer today is like being an aspiring finance professional in 2009 after the Great Recession dumped a bunch of excess bodies onto the street. The bubble has burst and the market is correcting. That is why.
Reminds me of education. We have superintendents, assistant superintendents, principals, district principals, etc... who are getting paid so much to watch education collapse.
hmm well, if the cost of living went down and the average hard-working blue collar worker could afford a home, a decent lifestyle, and a family, people wouldn't be scrambling to secure elite corporate jobs in hopes they can just get by
We need to value tradesmen, nurses, teaches and constructionists. Knowing a few skilled tradesmen is so helpful. Having well educated and well paid nurses equally probably has great impact on public health. The longer I work, also supervising young people, the more I see how training workers reduces the need for supervision dramatically. As a supervisor your goal should always be to make yourself obsolete. Empower your managees to take responsibility, to make their own decisions, to speak up if they notice any issues, but also to continue educating themselves . Working with someone who does that is such an enjoyable experience.
As a NYer, for nurses, it isn't usually pay but working conditions. Just saying. We could also help by not being 400 lbs and not moving and then expecting the medical system to make us perfectly healthy after we collapse in our 70s
I graduated high school after 08. I remember other teens from Middle Class families being told by their Boomer parents “You HAVE to get a college degree, I don’t care what it’s in.” I didn’t have know why I wanted to go to college, so I didn’t. Peer pressure was strong, but I was very wary of debt. I can’t imagine being behind a desk with one of those BS jobs.
You may be wrong about something. People will take a pay cut for a higher role not to feel special, but as an investment-it’s often easier to find a better paying job later if you have experience in that role. Taking a temporary pay cut may be totally worth it.
I ran into trouble in my game of tropico 6 when i found out most of my population was overeducated and no one was working the jobs thats required less education. Everyone having a college degree isnt a good thing
Unless you are a professional, a college degree has no business being a qualification requirement. The problem isn't people getting degrees, the problem is the societal expectation that all careers require a degree. Most degrees should have nothing to do with a career.
*Laughs as an FAA certified A&P mechanic.* 9:06 *cries as someone living in the still expensive East Bay Area in California.* Still, though, i am hell of lucky to have dropped out of community college very early on and then seeing a RUclips ad for an A&P technician school. Best RUclips ad I ever saw. Certainly, in better straits, compared to my unfortunate older brother with a Bachelors in Engineering.
What kind of engineering? I don't hear of any engineers who are struggling right now. Maybe I am strange but there are 5 million developers in the united states.
I wish there were grownup A&P training programs. It’s just all day just out of high school brat training programs usually in some back water. I’m amazed at how much harder it is to get trained as an A&P than as a pilot.
In western EU countries, we do not have to pay for our studies (or it's negligible compared to north-americain tuitition fees). I wonder whether statistical data shows a difference compared to the US, because the idea of prestigious non-manual labor is also there. The more I think about it, the more it seems that degrees and higher education were used as a gate to only let high-society members into high paying, low-manual labour job. We ended up collectively believing that getting higher degrees would get us those jobs, an illusion that is now collapsing, at least partially.
It was in the 70s that the Supreme Court ruled that it is discriminatory to give IQ tests to job applicants, so then I guess companies turned to a college degree as a substitute. I once had it mentioned that Europe turned Christianity into a culture and America turned it into a business, well America turned education into a business as well.
The lawyer making $200k/month saving $2k/month is insane. 1. Having almost a full salary left over after your expenses is a crazy amount of savings. 2. Having more than $14k in monthly expenses is...a lot. I wouldn't know what to do with that kind of salary.
There was this big push by the media to get a degree. Whenever there was a commercial break, there was an ad for some university. High schools had college admissions specialists instead of maybe trades. This was all setup so that we could get a massive rug pull in the end. So yeah, I agree it’s not my fault, I’d go as far as saying I had nothing to do with it especially since it was completely stacked against me from birth. There weren’t other options being advertised, it’s either college or it’s mopping the floor.
Exactly! It was college that was pushed for the “American Dream”. The military and trades were for the people who “weren’t going to do well in college” (aka: the C- and below students). If you were below that, it was McDonald’s fry-making guy for you.
I work at my citys power grid company. We have a shortage on workers going out and fixing stuff up, yet a oversupply of grads who get paid way more than me for misarable work and DONT EVER mention, that they are "qualified" for their position. You dont need a degree to go to planning, you need years of expirence in the field.
My relative got a B.Ed and Master in Chemistry, but she's stay-at-home mom now and was a part-time yoga instructor (made no money), still relying on her parents in her 30s, her husband can barely provide for 2 of them much less a kid
I had a degree in biology, and a MBA from Canada's 2nd best university. Guess what im doing now? Lol, a restaurant server, decent money though, but why did i spend all these years in school if i could just jump straight to service jobs that pay well. Granted not all pay well, i did work hard to get to where i am right now to serve in a high end restuarant. I do make 6 figure as a server lol, Those tips from the wine selling is more than u think lol. Point is, it's how you make out of your life, not just by education.
War and Peace and War: The Rise and Fall of Empires from Turchin as well is excellent too. It mentions this concept of Elite Overproduction, something that happens whenever an empire is collapsing. I love how all his books form a cohesive theory with related concepts in between.
And if more jump into trades, the same result would occur as it did for college degrees. There's simply way too many people alive in 2024. We do not have enough jobs for such a massive worldwide population. The third world is our supposed "replacements." Let them take all the low paying job and let the elite rot.
This is a very disheartening topic specially from the perspective of a third world citizen like me. It is basically the same thing regarding price of college and scarcity of blue collar jobs, but with two main differences: 1. No, you don’t have more bargain power in the job market with a trade degree than with a college degree. 2. No, you cannot make a living as a plumber, a brick layer or a construction worker. Those are minimum wage jobs at best. It is so sad.
This video is just an anti-college circle-jerk. There is no empirical data for any of this, and this "overproduction of elites" thing is essentially just another weird astronomy for historians kind of thing, where they make up a BS claim and "prove" it by vague historical references. Don't let this low-effort video drag your mood.
It's a doomer take channel anyway which is extra easy to do in hard times like right now. The internet usually strays negative. It doesn't mean your life has to be as bad as these videos. For example I can talk about my friends and coworkers who've been laid off and struggled to find jobs or had to downgrade to lower paying ones, but on the same token I know friends who make 100k+ out of college without having to live in Bay area, Seattle, NY, etc meaning they actually can save or live their life more reasonably. But yeah it is bad for the average person right now. Especially if you were born average because youd have to do above and beyond what anyone in your world would do effort wise and it still might not work
Blue collar doesn't make a lot of money, All of that extra money comes from overtime. You could make like $20 an hour and work 60-90 hours a week. You would be exhausted.
Blue collar jobs pay much more than laptop jobs, with the one caveat that you shouldn't be an employee or very fresh. The man who fixed my windows latch charged me 300 dollars in cash which was essentially a 15 minute fix. He never going to pay taxes for that. Imagine he has 6 or 7 customers each day. Do the math.
As an investment enthusiast, I often wonder how top level investors are able to become millionaires off investing. I do have a significant amount of capital that is required to start up but I have no idea what strategies and direction I need to approach to help me make over $400k like some people are this season.
I believe the safest approach is to diversify investments especially under professional; guide. You can mitigate the effects of a market meltdown by diversifying their investments across different asset classes such as stocks, etfs etc It is important to seek the advice of an expert.
Review your portfolio with a professional and don't make the same mistakes again. Diversify, as in your stock portfolio, and hopefully consult a professional. The key to building wealth is long term. I learned 30 years ago that you have to keep emotions (rookie) out of your investment decisions at all cost. Now, i've made over 800k in profits from my 350k investment.
I think the problem is that the top position in the companies simply earn a lot more, i get that a senior employee or supervisor need to be better payed as their jobs includes more responsibilities, and I get that the owner and ceos of companies earn more. money that the floor employees, bit if they only made like, 3 time more than the floor employees, less people would be incentived to get those jobs, all that much work for just a slightly better pay? I'm good where I am, and those who actively pursue the jobs would be more inclined to get it since there's less competition over those jobs, I could get behind ceos getting insane amounts of money as bonuses, so long their salary is tied to their lower ranking workers, so if they want more money they need to raise their employee's salary first, if they don't, they don't get more money, the fact that a company become mlre productive isn't the work of the ceo alone, so it's not fair that he's the only one getting the reward because no matter how brilliant his ideas are, none of them could be put in motion without the rank and file workers who actually do the job.
Everytime i hear that "we are produciing too many overqualified people" i wince a little. Sure there may be some truth about it but it also feels like they are saying "i need someone to ask if i want my cheeseburgers with fries"
Yeah, this is the problem with pretending that you can actually build a complete meritocracy - society needs losers. Instead of acknowledging that in a healthy way and accommodating them, we just go "well, you deserve poverty because you weren't smart enough".
the problem with overqualified people is that most of them are only good workers and fast learners because of circumstances forcing them to reinvent themselves hoping to make better pay that's why it's hard to keep them in a job like mine that no one wants to take, they didn't go through all the trouble of reinventing themselves just to work for minimum wage that the employers insist on as a starting wage (one usually does not have a year to prove himself)
Could the problem also lie with the undervaluation of the jobs at the bottom of the pyramid? Jobs like gardener, fireman, factory worker, electrician, waiter, etc. are arguably more important to society than "Marketing manager" yet they are comparatively paid and treated like shit, not to mention a lot of them are associated to some form of social stigma. If these jobs are hard and/or valuable, they should be paid accordingly, or at least allow for some kind of upwards mobility, but it seems that these jobs have lost their allure because employers will only hire at the cheapest salary possible for these tasks.
Work that involves physical labor has always been seen as dirty and the work of the poor and dumb, whereas work that revolves around usage of the mind is seen as prestigious and intelligent. …or another way to put it is that people are inherently lazy and despise work that requires physical effort, and thus hold high value to jobs that don’t.
Net worth truly snowballs after $100K! Keep investing regularly and you’ll be blown away how much it can change in a few short years. Here’s to $1 million and to FIRE!
My advice to everyone is this: if you want to grow big this year especially in your finances. Be willing to make investments. Saving is great but investing puts you on a pedestal where you wouldnt have to worry about savings as you do now. Thanks to my FP, my portfolio is doing really great and I’m proud of the decisions I made last year.
Nice. People often underestimate financial planners’ importance. Over 50 years of data reveals that those who work with planners typically earn more than those who go it alone. I’ve been fortunate to work with one for 10 years, resulting in a $1 million portfolio, largely from early investments in AI and other growth stocks.
Elizabeth Greenhunts is the licensed fiduciary i use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment. ..
The overqualification point within the mentioned authors books also severely overlooks something that was occurring in the later part of the Roman empire that massively accelerated its demise, and that was the rampant importing of slave labor to do jobs that were previously done by either low skilled or medium skill level workers. Suddenly masons, carpenters, blacksmiths, and all sorts of specialist trades or workers were out of work because why would the noble employing them keep paying them when that noble can just bring in some slaves from modern day Libya or Algeria? This caused those workers to lose jobs, lose economic prospects, and, those that could, moved to other areas where they could survive, which exacerbated the issue.
A reminder that people making less than $50k a year are often still working 2 or 3 jobs to get by month to month. Its not just the "overproduced elite" as you say, its the entire working class. Being poor means you are working your ass off, and its all for nothing. There is no magic formula to get to that first rung of the ladder. The truth is its all privilege and luck.
I have done many rounds of hiring for my professional department (marketing) in a midsize city and find there is actually an acute shortage of qualified applicants for perfectly good "cushy office jobs." We almost always end up hiring a "project" that we have to try and develop because we have no other choice, and it isn't because we aren't willing to pay for people who actually have skills. Most applicants are just unskilled, including the ones with degrees and "experience." Lots of these people drift through unchallenging college programs and then sit in a chair somewhere, pushing emails around and sitting in meetings, never really doing anything important or learning anything useful.
hiring managers: must have 3 years experience for this entry-level job also hiring managers: nobody knows how to do the work for our mid-level and senior positions 😢
@@kjell744Iq tests r a terrible measure for a job… it’s mainly relevant skills. Also training is costly and takes time. Someone good at math is not inherently good at marketing, etc.
I switched from white collar to blue collar work in my late twenties and it was the best choice I've ever made. No office politics, no sitting around on my ass doing fake work and best of all, much better pay. While it can be tiring physically, I don't think it's "back-breaking" at all. I'm from mainland Europe though, so I can't say much about blue collar work in the US.
Blue collar: "Here's a $4 an hour pay rise and more overtime." White collar: "Your base salary only goes up by twenty thousand, but the bonuses are much more generous."
"...Everybody is qualified to deliver a stakeholder engagement deck to synergistically Blitz-scale a business-to-business platform for ingesting marketing survey data from the cloud... but you can't find anybody to fix your plumbing." You had WAY too much fun writing that.
"It's not fair to cure cancer now because of all the people who have died of it already" is all I hear whenever somebody brings up the "it's not fair to people who have already paid it off" argument against student debt relief.
On the other side of the spectrum, most trades-jobs require insane amounts of labor and hours and offer fuck-all in return unless a union represents your area. Thats great if you live in an area with strong trade unions, but here in south louisiana they are virtually non-existent and we have to compete for the bottom to make less than the Costco cashier while running 6-inch rigged conduit in a chemical plant, and people take these positions gladly because the vast majority are immigrant workers. We're kinda spit-roasted on this one.
The pay for hard trades isn't actually as good as everyone claims, more so after you factor in the years of training needed to learn the trade well enough to make good money, as well as the cost of tools to perform the job and the expensive healthcare you will be forced to pay for when you get hurt. What happens when you fall off a roof and have to spend a week in the ER and 6 months on the couch, then carry those injuries with you moving forward.
yeah welcome to reality bro the elite jobs are very difficult to udnerstand The trade jobs are time consuming and dangerous The lowest jobs either disgusting or boring and come with barely liveable Pay
My dad’s a small business owner and I’m always very proud of how he pays the blue collar workers working on construction, plumbing, etc a liveable wage, almost always works alongside them helping with the manual labor, and lets everyone take a break midday when the sun is unbearable. He’s even set up tents and showers in the back when some workers lost housing due to a 200% rent hike (like wtf california???), and we’d frequently have lunch or dinner with them together. He doesn’t understand how bad the job market is right now, frequently complaining about why people say there’s no jobs when clearly business owners like him are desperate for workers. I don’t think he understands this overqualified problem as stated in the video, or that most employers do not give nearly as much of a shit as he does about the blue collar workers they employ 😅
I'm a mercenary with no concern for titles when it comes to my work. My recommendation for younger workers: - screw college. It's a waste of money and time. I have no college degree and a six figure salary. - find high end technical work that nobody likes doing and get good at it through free/cheap online training. - get good at socializing, make contacts, get your first job or two through back channels
"- find high end technical work that nobody likes doing and get good at it through free/cheap online training." Legit, very real tactic here. Bonus points if you also come in with a real education, and/or literally make the job to solve an otherwise unmet problem yourself.
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in today's world 90% of peoples doesn't want to learn for knowledge , they see which field is highest paid , damnnn data science earn ----$ k , let's go and become data scientist .. learning for money and learning for knowledge is different. i guess.
Sounds familiar, I have heard her name on several occasions and both her success stories in trading, big kudos to this woman.
I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $21k passively by just investing through an advisor, and I don't have to do much work. Inflation or no inflation, my finances remain secure. So I really don't blame people who panic.
Very good video and analysis. 👍🏾👍🏾✅✅💯💯
Not sure why this video is surprising. There are a lot of jobs out there people have to take because the higher paying jobs they are capable of doing have been filled. There aren't enough of those better jobs for people to fill so they settle for a lower tier job to pay the bills. This goes for the majority of people.
I got laid off with 3 advanced degrees and 12 years experience in my field. When I applied to a new job, they were speechless at my resume, said I was very impressive, then called me overqualified. I later found they wanted much cheaper fresh out of school employees to underpay for the role. This job market is a sick joke.
My little company is interested in eventually hiring another salesperson. I will tell you that we are not looking for the seasoned pros for exactly this reason. The issue is that the job itself doesn't really require the expertise of a seasoned industry veteran, it only requires a mediocre young kid who has some basic competency and knows how to use a phone and occasionally talk to a human in person (who is consequently willing to work for less, within the budgetary constraints, and who will not grow unhappy and quit within the first 12 months).
Yeah. Some don't want to pay you for your experience and expertise, so they get someone under qualified and cheap.
They only hire for entertainment. You can't sit around and laugh at a pro while paying them dirt. The little kings and queens need more cheap jesters for entertainment.
Get a degree in job creation :D
I never bought into the accredidation collection game. How much of your education do you retain and can recall? How much of it do you put in practice that couldn't be learned on the job? Educational costs are a lost opportunity cost from market gains. I'm so glad I didn't pay for a masters and simply saved and invested. Now I can literally work paycheck to paycheck and still be on my way to retiring early.
Perhaps the biggest problem is that too many of the people trying to address this issue are those with exactly the kinds of jobs that most people want: politicians, business owners, entertainers...successful RUclipsrs. It's easy to go tell other people to suck it up and do grueling labor when you're not the one who has to do it.
Absolutely. Well said.
Yup.
The thing is I hate to say this but some of them don’t deserve it and are not going to be qualified for it
I’m like you don’t belong in college (I don’t mean athletes)
That's not what they're saying though. They're saying it's you're fault and you're a failure somehow if you have to do a job society needs in order to run.
That's exactly the point basically they're telling others to run society while they get nothing but disrespect and frowned upon while they get the jobs in which they don't have to risk permanent life altering injuries
Saying you are overqualified is the most polite slur I ever heard
“This latte tastes like you have a communications degree”
I have been at the receiving end of this
@@HowMoneyWorks wicked burn
@spicymemes7458 "You're overqualified" is the job interview version of "it's not you, it's me." It is often a complete lie but it's vague, polite and the best they could come up with in an awkward moment.
Slur? Not sure the right word choice but I get what you mean.
I speant 6 years working in construction. At the age of 24 i already had back problems, hearing loss, and lung problems, and i never made more than 30$/hour. I was destroying my body for a job that simply did not pay enough for me to even move out from my parents house. There seems to be an inverse relationship between how usefull/productive your job is and how much you get paid. It was a really easy decision for me to go to law school because anything is better than ruining my health in a job that pays like shit.
Thank you for sharing. That sounds rough.
most people don't even make that. but no should be some compensation for health problems. most jobs without university is 15h only willing to hire part time due to not wanting to pay any benefits. with that said trades is high in paying comparison they are leaving out the high medical cost you will have in the future hence why many without degrees just settle for the 15$h and also stuck with parents or renting with a group of friends
In a similar way, the main reason I'm not in the trades is because my Dad who has made a career with manual labor told me from an early age that it would destroy my body. I've still worked some jobs that made me sweat but as soon as I got the opportunity to leave I did.
I actually enjoyed the manual labor more but the pay and the pain are not worth it.
hows law school going for you mate? is employment difficult in the field?
You're supposed to work for 5-10 years and start your own business.
One of the first things we were told at university was that only 10-20% were going to actually work in the field, the rest were just going to hang their degree on the wall and forget about everything. That teacher was correct.
Did the same thing with my welding certificate.
That teacher was a real one. They didn't just lie to you and tell you what you wanted to hear.
Likely worse than that though, cause a computer science degree is near 100% while psychology and art history are near 0%.
why allow that many students then maybe they should limit seating
Then why even allow that many students? Just allow 20% seats. Seems predatory to me.
This totally missed touching on the fact that even basic jobs that should only need a high school education need a college degree to be considered for an interview these days. Most people don't want an elite job, they just want to be able to afford a comfortable life.
So they just want the benefits of an elite job. You don't say?
@@adambickford8720 You used to be able to live a comfortable life under 1 wage, straight out of highschool, enough to support you, a wife, and 2 and a half children. You could do this laying brick or framing houses. Were *those* elite jobs?
@@BitTheByte Proportionately, yes! They were far better off than McDonalds employees at that time too.
The part you're missing is there was far less opportunity to do better than that back then so it was better for the 'peasants'. We now have a ton of professional gigs that pay what only doctors, lawyers and architects made. The downside is, if you aren't willing to earn those gigs it's a step down from the old days.
Keep in mind a house was < 1k sq feet and the only luxuries you had were tv and radio.
That is because you Americans treat education like a commodity. University education needs to be selective, and the number of graduates for each major regulated in a centralized manner.
@@adambickford8720 I think the main issue is that the 'benefits of an elite job' are largely just expected norms in the rest of the developed world. For me, the benefits of an elite job would be a personal driver, stock options, an expense account and a free box at the local football stadium, not healthcare, paid time off, overtime, a pension and sick pay.
My husband came home in disgust the other day because one of the bosses kids just graduated college and got a job in the office with the AC and the nice salary. Kid knows nothing about the business but instantly became the boss of people that had been there for decades.
My husband had to work for fifteen years and knows the industry inside and out and still has a worse office than nepobaby.
That's just how the world works. If your family was in a position to give your children a well-paying job at the company you own, you would also do it. The boss's kid might eventually be good at the job (and might even be a good person), and your husband can perhaps work alongside him/her for mutual benefit.
Network > experience/credientials/results always, WHO not WHAT, even if it's crappy and unfair
Sounds like the solution is to quit and create a competing business.
@@jahoopyjaheepu497and this is why the rich should be taxed more. They hoard their wealth and resources with no shame.
Most likely just nepotism
@@jahoopyjaheepu497nope my kid will have to work his way up just like the me and the rest of us.
I dont mind construction BUT its a kick in the balls being told "you're the backbone of society" meanwhile people who just make excel spreadsheets and attend meetings everyday get paid triple my yearly salary. Spoiler alert, we handle relations and track a ton of shit and need to know all kinds of maths too. The system is a joke and deserves to collapse.
EDIT: to further elaborate on my point. "They went to college! you shouldve went too xd" I got yelled at by a man in his 60s for 2 and a half years. He had drinking problems and had 2 divorces. This is a fairly common "canon event" - Why? because we're underpaid, underfucked and while white collar types get to work from home our PTO requests are denied because we have to get a job done on a tight deadline. You want more "backbone" workers? pay us more and give us more than 10 days of PTO a year mother fuckers
Well said
agreed
That's why I got into trades. If society collapses people are still going to need air...
@@Marjax trades are skilled work. That's why they are increasingly highly paid.
Fun fact: they also on average use things like maths skills at work at a rate much greater than the average white collar worker.
At least in Aus tradies makes more money than most white collar workers, and get 20 annual leave days as a minimum. The US has a problem with respecting tradesmen. I work in a white collar job and cant take paid time off 6+ months a year due to how busy it is. It seems the US has the least respect for workers of any developed country based on labour laws though.
Why isn't the law of supply and demand fixing this?
If there are so many people qualified to be executives, then why isn't executive pay plummeting?
Conversely why aren't the salaries of tradesmen skyrocketing?
Exactly. The oversupply and demand is real, yet the market does not reflect this. One would think the system is... rigged.
Because it’s not about what you know, it’s who you know, and that’s a massive gate keeper that ensures the free market never comes near their gravy train.
It is, the real buying power of the qualified jobs is plummeting, the video even gives a few examples :)
Yes, exactly. If this is indeed true, the economics behind it should support it.
Because executives get to decide their own pay? Like, pricing theory is people making decisions about money, there are no economic laws.
Whats really frustrating is that these people aren't just being picky, they've been told their ENTIRE LIVES that having these jobs make you a failure. People will say you will become a plumber, janitor, or garbage man as an _insult_ . Our society has shamed away the rationality the same way they shamed young adults out of living with their parents.
Well they are adults so if they're still very selective about what they want to do in an already tight economy, they are being picky
Funny part is, those professions you listed make more and have better benefits than many white collar jobs these days.
I always respect Blue collar jobs
@@КолзакМикхаылов The economy is also tight because, as someone who lives with 2 others, one a us military vet tradesman working on airplanes, 20 dollars an hour for a warehouse or construction job doesnt fucking pay bills. If your only option is to hail mary and risk everything with loans just so you can reliably have someone home taking care of kids, let alone save for a house rather than live paycheck to paycheck, then thats not picky, thats survival instinct.
This doesnt even go into the fact that more and more peoples only option for those areas of labor are contract work, meaning max 3 month terms, no job stability, and not even a chance at a union, at that point you cant even use your experience for a longer term position somewhere else because they probably use temps too.
Ikr so irrational
People don’t want blue collar jobs because it’s miserable back breaking work that doesn’t pay as well as it should. If the alternative is a higher paying, air conditioned office job, anyone in their right mind would pick that if it was within reach. Hell most people would pick that even if it paid less.
As absolutely crucial as blue collar jobs are, the work is often absolutely grueling and a lot of people would choose *anything* else over that.
The worst part is that the work is unnecessarily difficult because the cost of tools and support equipment is put on the contractors
One thing a lot of people fail to mention about blue collar work is that there is a good chance you work overtime. My father is an electrician with his own business. Sure, he makes great money but he constantly works 60 hour work weeks because "the job has to get done by the deadline" He has a reputation to uphold if he wants to get repeat work with his clients. I know not every trades job is like this but a lot of people also willingly choose to do overtime which increases the expectation that contracts will be done quickly and up to standard.
There's also the fact that not every union is built equally, and the good ones can be extremely difficult to get into. Likely requiring 5 years as an apprentice before you start making 6 figures. Long wait times, sexist attitudes, workplace culture issues all still exist within the trades.
@@rever98 I'll add to this. Nepotism often runs rampant in unions so the opportunities are not always distributed fairly unless you are well-connected. Also, depending on the trade and the season, you might find yourself out of work at certain times during the year, which can be a dealbreaker for those who have to live paycheck to paycheck. This fact can be especially brutal for newcomers who are usually the first to be laid off during these times due to their lack of knowledge, experience, connections, and/or seniority.
I have a friend who is becoming a welder. It's 2 years of school, and then starting pay is the same as lawyers make on average. Blue collar work pays much more than it should right now.
Depends who you work for
My main concern is how to survive all of these financial and political crisis, especially in light of the US political power struggle.
Started with 6000 due to fear & now I'm reinvesting 25k
I find this informative, curiously explored her on the web, spotted her consulting page, and was able to schedule a call session with her, she shows quite a great deal of expertise from her resume.. very much appreciated
"the US political power struggle" i.e. an election. Hyperbolic much lmao
I agree with you wisdom, it is highly profitable to join your non-pyramid scheme. Please take all my money out of my bank account sir
Well for starters, move to a different country
It's sad how difficult things have become in the present generation. I was wondering how to utilise some money I had. I used some of it for e-commerce business, but that sank. I'm thinking of how to use what's left to invest, but I don't really know which way to go.
I understand how you feel. It's a little bit difficult to navigate things these days. You don't wanna lose whatever is left. I may suggest that you find a financial advisor who could give you thorough advice on how to go if you want to go the investment route. Also, the fact your business failed doesn't mean you should give up.
That's right. I have tried many failed businesses and it's just a step further. Don't despair. But to add, if you do decide to use a financial advisor, it's best you use someone who understands your special needs and can work with you. I learnt this from experience before finally finding one I can stick with. Now I make six figures from my investments alone, and even more from my businesses.
Thank you for the advice. When you say financial advisor, are you talking about hedge funds? And how do I get in touch with one?
"Rebecca Nassar Dunne" is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
She appears to be a true authority in her profession with over two decades of experience. I looked her up on the internet and skimmed through her site, very professional. already sent her an inquiry hoping for a response soon.
You literally have tradesmen who can't afford to live and are being under paid. I literally had an old guy tell me for advice when working at my wagie job, "you know you should work a warehouse job or do construction then take unemployment during the winter!" Then explaining to him that, "I would still need a roommate and I still wouldn't be able to afford a place by myself though and would be back at min wage again but taking on more risk"
He got big mad. These blue collar jobs aren't paying more; they're bringing in more migrants to stop themselves from having to pay more for these kind of jobs.
Immigration is the be-all-end-all solution for all our problems according to politicians.
Too many people going to college and not enough teachers? Immigrants
Not enough nurses? Immigrants
And etc.
Third-world citizens need to be banned from getting legal citizenship in the West. Ever since we switched from Europeans to the third world, our quality of life has gone down.
@@1queijocas Too few children? Immigrants. Economy growing to slow? Immigrants. Salaries to high? Immigrants.
It's almost like the ruling class never make a single choice based on the interests of the native population.
SOME tradesman are underpaid. And you think that indebted history ART graduações are doing Fine? The poijt in thia video IS not that tradesman até millionaires, but that at least they aren't with debt thorugh the eu balls?
No, MOST tradesmen are underpaid.
When people say “over qualified” and I smell that it’s used as a pejorative, I say: “So, you clarifying that I am qualified for this job.”
I think the negative connotation comes purely from the idea that someone who is overqualified is thought likely to be just using that job as a crutch until they can find something that matches their qualifications, so if they want someone long term then they don't want to hire someone who they suspect is just itching to leave from day one.
@@adhillA97 Yeah, it's nonsense that presumes that we're working for something other than money. I just slandering interviewers to their faces if they come out with this crock of shit, it's a dogshit culture and we both know it.
over qualified only worries them because you are likely to ask for more money than other at your same job position with less experience and studies at least in europe, they dont care much about people leaving when a lot of projects are made mostly of underpaid interins or juniors that leave the moment they get a slightly higher salary or better conditions
Think it really just means they can’t get away with paying you as little as they want to pay you. So they won’t bother trying.
“Over qualified” means they care more about being able to abuse and intimidate the hire than they do about competency.
I just think it's a little silly to say "it's not fair to the people who paid" yeah. That's just how it works when you change bad things. it also wouldn't be fair to nationalize the healthcare industry and give everyone free healthcare because people currently pay out of pocket constantly for healthcare. It also wasn't fair when civil rights was passed and all subsequent generations had to deal with a little less oppression than their ancestors.
"It's not fair to the one's who suffered to prevents others from suffering." is just a bad position.
Very well put
Very true. I avoided college because of the costs, but would be happy to see my cohorts have their debt forgiven or status quo changed.
Please say the same shits to all the other forgivings. 🙏
@@GoldenSpoon109 Student loan debt should not be forgiven. We need to stop federally backing student loans all together. If you want to get an arts degree you need to figure out how to cover that because the banks likely won't, but they will always be happy to sign off on a STEM degree loan for those with adequate aptitude and academic performance.
The real problem isn't student loans, it is these institutions raising tuitions far above and beyond inflation on the backs of federally subsidized student loans. If anything these universities need to come out of pocket and reimburse students and alumni for the highway robbery they've committed over the last 15-20 years.
@@apersonontheinternet8006
Agreed. It is a gov sourced problem in the first place. The subsidization, leading to incentives to drive up tuition costs obscenely.. That being said, the gov is already going to inflate the dollar and print money and piss away tax dollars, so it may as well be via forgiveness, which they're more likely to do than cease doling out these subsidized loans. But yes you're 100 percent correct.
Where does this delusion that people working elite office jobs are qualified to do them. I am certain that promotion at most jobs works on a fraudocracy system.
If you can ever find a good boss or a good job, do whatever you can to keep them.
Good bosses are inevitably replaced about people who overpromise, though.
@@almisami Perhaps. I have good bosses, and I do my best to be good as a boss as well. I may well be in the small minority in a lot of ways though.
This is one of the things that keeps me at my current job. I work with good people and have an amazing boss. I dislike my job itself and while we have other roles in the company, all of them require either being even more of a people-person than I already am (and I'm trying to cut back on dealing with people, lol), or I need to be a developer...and I unfortunately have zero skills in developing. Mot people stick with the company for five or more years, which by today's standard is awesome. It's the kind of place you really can either use to launch a career or stay at and retire. A piece of me says I'm an idiot for ever wanting to leave, but my introversion really is tired of taking calls all day. I've been doing this for fifteen (15!!!) years by now, give or take a year or two. I need a shake-up, lol.
Clarification: I've not been at thie job fifteen years, I've just been taking calls, previously at call centers, now for about that amount of time.
This thinking grows deep in asian people. Parents would tell their kid to study and get jobs in offices. They would be mortified if their children work blue collar jobs
That’s also why women are upset that men are the primary higher ups
It has nothing to do with patriarchy
Men are also 98% the dangerous and hard jobs
i disagree about calling college graduates overqualified for blue collar jobs like welder, plumber, electrician, etc. If they do not have the knowledge and skills to do those roles they are not overqualified. They just have a different set of skills. The same logic would conclude that electricians and plumbers are overqualified to be corporate managers.
100%. They are different skill sets.
Incorrect. 6 is more than 4, 4 is more than 2. Ergo Someone with a masters degree that took 6 years of schoolwork is more qualified than someone with an associates in chewing tobacco that took 2yrs to complete.
It takes 12 years to become a doctor. If you're saying the guy at jiffy lube with an auto tech certificate is more qualified than a neurologist you're insane.
@@kreativeforce532 it depends on the job, NOT the skill set of the person who is applying for it wether or not he/she is over/under qualified.
A doctor applying for a job in accounting is under qualified. Same as how an engineer applying for a nursing job is under qualified for the job.
Saying a doctor is over qualified for a plumbing job is like saying a fish is overqualified to fly.
Overqualified means "by law we are forced to pay you a certain amount but we'd much rather hire someone who we can pay less to"
I have a masters in economics and marketing, busted my ass till 23, luckily only 23, for it. Went to dozens of interviews, called on hundreds of positions. Got sweet FA.
Requalified as an electrician, got hired on the first "interview" I went to by a big burly bearded man in overalls. Understandably, I was a bit down for a little bit, but I had no issue with manual work. 10 years in trade later, soon to be anyway, I earn more than I thought was possible, I have 6 weeks of paid vacation, paid health insurance/other assorted benefits and work with a team of handymen who love their work and don't stress about any quotas, deadlines or other funny terms thrown around these days.
Point being, working a trade isn't shameful or degrading in any way. And I can tell you for a fact people won't need another joe in marketing but they sure as hell will need someone to do their plumbing, put together their closets, wire up their lights.
I'm just not cut out for a trade. I know my own limits, which is why I respect anyone that can do it.
People also act like there's some disconnect between the trades and more academic subjects, and it's just not true. My cousin started as an apprentice electrician, and a number of years later was doing her masters in electrical engineering, paid for by the company. It's often far more valuable to do these higher-level academic qualifications once you have experience in the industry, because it's easier to make connections between what you're learning and the real world.
@@underleftWhat country, company do you work at? And how much is your yearly pre-tax income?
@@Entertainment- Get his SSN and home address too, while you're at it.
Arent we just lucky
I graduated with a finance degree in December 2008. After doing odd jobs and pyramiding credit cards for a while, a friend finally got me a job as an installer where he worked. I was told to not mention that I had a degree because the people who work there would look at me weird. College was the worst 'investment' of my life.
Were you not able to get an entry level financial analyst role with that degree?
@@andrewr8251
Fresh graduate in 2008 when so many people were put out of work that had more experience than them in the field? What do you think?
How much debt did you take?
I hold a degree in biochemistry from a top research university. I am currently working night shift in a factory. Nobody there knows I have such degree and I don't ever mention it.
@@WPFreeinternet One thing I also notice is that often the degrees that end up being the trickiest to make pay are ironically the ones with a clear and obvious route to a high-paying job. I'm thinking finance, economics, law, business studies, etc. The problem is that everyone does the same thing and you end up with thousands of law graduates when the number of jobs in law is unchanged. This is a big problem in Asia where I'm working at the moment. I work with students aged 15+ and I don't think I've met a single person studying or planning to study maths or science, because their parents push them to study something where the answer to "What job are you going to get with that?" is obvious. Obvious, but wrong for the vast majority, unfortunately. So like in the west, most of them spend their lives working in unfulfilling office jobs where the degrees weren't really necessary.
2:50 "and when everyone else is super, no one will"
Humble simple joyful family life is the new cool
@@lester_g7 amen to that 🙏🏻
The real problem is, as almost always, Reaganomics. Elite jobs have always been more prestigious and usually more profitable to be sure, but we've chosen an economy that makes non-elite jobs not just less prestigious or less profitable, but functionally unlivable. 50 years ago you could buy a house and raise a family working as a counter clerk at a store like Sears. Sure it might not have been the biggest fanciest house in the city, but it was yours.
Now you need to be a top 1%er to have a hope of getting a 1-bedroom apartment in most large cities and a top 10%er to get a house practically anywhere in the developed world. GDP has gone nowhere but up during that same period so how does is that possible? Well, mostly because we've decided its "unfair" to tax the world's richest people and companies more than someone making $20k/year. And since the government still needs to pay someone to police children's pronoun choices, that tax discrepancy means the poor and middle class are paying more and more to subsidize the wealthy rather than the other way around.
It's hardly new though. The gilded age of the late 1800s/early 1900s was in a similar position, and we've all seen the pictures of the work lines and kids in factories and all the other things the ultrawealthy are trying to get re-legalized 100 years later.
Top 20% is good enough. I worked and worked and worked my way up from poverty. I didn’t have kids so my dear niece has been and will continue to be given a hand up, lucky young lady.
The Reaganomics has little to do with housing prices, but it is definitely responsible for the vast amount of corporate welfare in past decades. Tax breaks, grants, handouts, giving our tax dollars away and we have no direct say on it.
@@coke8077 > Reaganomics has little to do with housing prices
Certainly not directly. What Reaganomics does have to do with is wages stagnating.
Housing kept going up and up and up while (almost) everybody kept making the same amount, inflation adjusted (there's a slight increase but it's a fraction of the inflation rate - which is even worse when you realize inflation was 1-2% for more than half that time).
So why didn't that apply to everything else? Well of course it did, but it was masked by the simultaneous explosion of technology. You can by a much better TV now than your parents could 30 years ago not because you earn more but because TVs cost significantly less (again, inflation adjusted).
Of course nothing in the real world is ever that simple. There's an argument to be made that such grand levels of technological innovation wouldn't have happened if we didn't subsidize the wealthy and let them move from "ridiculously rich" to "obscenely rich". But that argument is fairly winding and ultimately unprovable either way. Wage stagnation on the other hand is immediately obvious when you look at the data - while it's still technically a correlation (not a causation), there is little question that wage stagnation is one of the results of Reaganomics.
The correlation isn't exactly harmed by wealth transfer to the top being an explicit goal of Reagan's policies either (hence the moniker "trickle down" - give everything to those on the top and they'll "trickle" a little bit of it back down to you. Really, they will! Pinky swear!)
It's interesting how usually coastal liberal "elites" always blame every single thing on Reagan. It's weird. There have been 9 presidential terms since then and loads of other high power politicians like Pelosi or Biden is power forever....
Understand that we've come to the point where life is so saturated in so many areas, the majority is fighting for a livable wage while the minority is so incredibly rich it's laughable. I work in a decent job, for the country that I live in (Netherlands). I have no prospect for a house, I basically don't own anything.
I ask myself daily on my commute to work why I'm doing any of this instead of just quitting and living off the governement. Back in the day I thought only 'losers without ambition' would do that, but now I find myself realizing that I am the loser, with ambition that does not get rewarded.
That sucks. But being a parasite will probably make you feel disgusting after a while.
@@RUclipsuser1aaThe parasite is the government taxing you, taking loans in your children's name and inflating your money away.
And here I thought the Scandinavian countries had their crap together. Ah well.
@@CouscousEnjoyerscandinavian?
Get married so someone can help you split the bills. Don't waste money on a wedding. Just go to the court house
I just graduated trade school, I’ve been working as an electricians apprentice for about a year now. I make 21 an hour at the age of 20. The trades still need people!
I wanted to be an engineer, but this does seem like a good idea.
@@nunyabusiness22 you should atleast try it. I went to college for a year, really didn’t like writing papers. So I just decided to learn electrical because it requires an understanding of science and working with your hands
That is the minimum wage in the bay area.
@@Therealbrez I live in Ga bro, minimum wage here is still technically 7.25
My brothers have pivoted into HVAC. I'd like to find something I'm good at with my hands or at least, a job that isn't about talking to a stream of people as the main role of my job. I work for an office that works with my state's agencies, so I have more benefits than ever before, but I'm just a glorified call center agent, still.
I make $24/hr cutting steel in Missouri. It's not lucrative, but it pays the bills and offers OT when I need it. I can also save enough for a modest $2k vacation or emergency - which is considerable, compared to most (though saving for retirement is a pipe dream).
My advice, always keep looking for work and asking for the highest (if not a $1 or 2 more than the max) pay possible. Companies will try to whittle you down; giving a higher number mames the hiring manager feel like they're meeting in the middle even at a higher than average wage. And no, this will no work at every company - shit probably not most. But some will.
Not everyone can stand next to an open septic tank without losing their lunch. Those mighty few should be compensated properly. Definitely more than those who can complete a TPS report on time.
Not everyone can stand on a roof carrying 40lb solar panels in hundred degree heat. Those mighty few should also be compensated properly/. Unfortunately from what I've seen most of the money in that industry also goes to the owners instead of workers. If only there were something where the workers owned the businesses they worked for...
Shares in the business? For *gasp* employees? Come on, shares have to go to the public market to people who are more likely to short the stock than care about the business!
100 degrees is water boiling temperature. I think you meant “40 degree heat”
@@egorsozonov7425Fahrenheit
@@egorsozonov7425 I'll freely admit that meters and grams are more handy than the freedom units feet and pounds; however Fahrenheit is better than Celsius in everyday use. It doesn't go negative nearly as often, and it's more granular. Don't need to use decimals as often while still maintaining accuracy.
Comfy temperatures in F: 65-75. Comfy temperatures in C: 18.33333333333 - 23.88888889. Crisp temps in F: 0-32, in C: -17.777777778-0. Hot F: 90-110. In C: 32.222222-43.33333. A 20f gap is the same as a mere 11c gap.
Why should the workers own the buisness unless they bought the equipment themselves?
If worker did not buy all the expensive equipment and property needed to run the buisness they have no right to demand ownership
I think one of the biggest problems is that regardless of which path you choose, you get criticized. Go to college? Ha! Trades pay more anyway. Why bother with insane debt-load! Go to the trades? Your fault for choosing a dying industry. Shoulda gone to college. Ignorance prevents progress.
"everybody is qualified to deliver a stakeholder engagement deck to synergistically blitz-scale a business-to-business platform for ingesting marketing survey data from the cloud" is my new favorite sentence 😂
Also, Turchin is wrong about dead wood. It's an integral and necessary part of the forest ecosystem.. though I'm not sure what that says about underemployed people
If most average, everyday jobs *also* aren't enough to achieve the basic lifestyle fundamentals a given society creates; why would someone aspire to get/keep them?
Fear of homelessness mostly. Oh and health insurance.
@@mzaite don't forget lifestyle inflation. If a lawyer gets a $200k+ salary, he/she is most likely going to buy the big house and drive a Mercedes Benz.
@@mzaite but if you aren't even to pat for those things with a full time job, why would people aspire to get one of those underpaid jobs
that's the point OP tries to make. a job is supposed to make you enough money to live from, if that one job isn't paying enough to live from people will shun that job.
if it costs you $2000/month to live in city A, and you make $1500/month at a fast food job in that city. no one will want that job because you can't even live from what the job pays you.
@@ChristiaanHW And yet it happens all the time, long commuting, side hustles, second jobs, chronic room mating. People do lots of crazy irrational things that undermine markets and over complicate things.
@@mzaite wait, maybe i don't get what you're saying.
but it seems to me that you blame people who decide to live in groups rather than by themselves or as a family.
and people who have more than one job because one job just doesn't pay enough to live of.
for less profit for the companies that put them in those positions.
if that is your message i really have nothing to say to you because that's just backwards.
blame people who don't get payed enough to buy something, for the fact that they don't buy that stuff (for what they don't have the money).
if you want people to spend money you need to make it so those people have money to spend.
I remember when I was a kid I asked my mom if I should go to trade school to be a technician. She said ‘serious’ people don’t go to trade school. So now I’m in my senior year of college for my computer information systems degree while being in the military part time. Pray for me. I hope my degree isn’t worthless lol
Get some mentors who have the life you want, to help guide you. You or your circle may not have all the answers, so lean on wise counsel (Proverbs 19:20, Proverbs 20:18, Proverbs 24:6-7). Good luck to you and congratulations on your forthcoming graduation! 🙏🏾🎉✨
@@TheGoodLifeStarterPack Thank you we’re all just trying to make it out here at the end of the day. 🙂
Not that I wish it happens to you, but it did happen to me, after graduating from computer science engineering I was never able to get a job, had several interviews but never landed anything, now I'm about to become a certified electrician, thinking I should have done this when I was younger,
That is a very useful degree + you have military experience why r u worried
The video refers to liberal arts majors
You could also go active in your degree field.
While there are jobs that NEED to be done, why can't they be paid a livable wage?
Because Miguel will work for $9/hr so he can send half of it back to El Salvador. More people to do low skill jobs means less pay.
@krzzzy19 The video literally said there's no one who does it....
@@krzzzy19 you find me a plumber at that price and I'll GIVE you a car
@@elymanic3497depends on the specific trade
They do get make livable wages. Plumbers, HVAC technicians, electrics, mechanics, etc make bank. This is especially true if they stick with it for at least 8 or so years.
This housing demand crisis would adjust itself very quickly if tradesman were paid better and given social security nets that allow them Healthcare and a decent retirement. But that's not squeezing the bottom line enough, and profit margins need to stay high to keep investors happy, so just rubberband that price all the way up anytime a tradesman asks for fair compensation without getting the runaround. This applies to any of the bottom of the pyramid, people don't fall for the college trap because of dead-end careers, they do it to avoid getting strung along in the poverty line while working 60 hours a week.
Socialism always fails. Plumbers, electricians, HVAC repair make huge salaries and can fund their own retirement. The feds need to stop funding universities and university loans. That would fix the problem.
Society produces the type of people it requires with the overall aim of always reducing the cost of labour. The old school system was designed to create factory workers; today the university system is design to produce white collar workers in quantity. This has had the effect of reducing the value of the white collar workers.
The trick you need to master is to select a profession which will be in short supply so you can gain higher levels of job security and income. This is often luck and you generally only get once chance when you often lack the maturity and experience to select the correct profession.
Brilliant thought, sad that one comes to this realisation only after facing the problem not before, as world is unpredictable and always dynamic.
Once again someone who has never worked in trades is talking about how great the trades are. If you honestly thinks its easy to just walk into a mid six figure trades job you are delusional. You have to first apprentice doing hard labour for minimum wage for years and they do not allow newbies to operate dangerous machinery and/or mess up construction that could cost lives.
It’s absolutely not easy, but it’s not easy to walk into a six figure corporate role either. I am nobody’s career councillor but I think it’s a mistake when people do t at least consider a career in the trades.
You could not be more right. First 3 years were an absolute kick in the balls. I had never worked so hard for so little in my entire life. It eventually got better. I'm a master electrician now 10 years later, but that first hump is rough.
... at least you're getting to apprentice and drawing a wage with the hope of something better instead of having no hope whatsoever because you're unemployed and spending all your time eating ramen and applying to jobs all day.
or go into maintenance . we start at 30/ hr no experience but you need to have an aptitude for things mechanical.
Sounds nice not having to do general labor for $12/hr
The sales department is the worst for title inflation. No one will even talk to anyone in sales that isn't a "manager". However the worst I see is that there are so many stupid people with degrees, and not just business, English, or justice majors. Even the engineers are sub-par half the time. I know, I'm one.
Don't put yourself down trust me your schooling was harder than theirs, or if it wasn't that is why you are a subpar engineer.
Makes sense.
They got to be good at convincing people that what they offer is a good deal,and that extends to jobs.
I used to work at a job where I was a bit of an all-rounder. I used to just say I worked in admin, and I think 'administrator' was the job title on my contract. When I was leaving, they advertised my job as 'business support manager.' That went right on my resume. Never managed a single person.
@@joepieklClassic and well done. Companies lie about job titles and future responsibilities all the time, it is only fair for us to lie back
An engineer here, as well.
I would’ve loved to join the trades before undergoing a CS degree but it was more easier to have access to a college education than the gatekeeping that Unions have on apprenticeships.
how bad is the gatekeeping for apprenticeships? like tough to even land an interview?
@@zlr9022 People that I know that joined their respective trades were always aided by a family member especially here in the port of los angeles and the oil refineries. I on the other hand applied directly off the street and never herd back anything. Applying for college and getting accepted is far more easier than a trade imo. Unions are far more nepotistic than regular companies and schooling.
Maybe one thing to point out is that Blue Collar works especially in Construction field is literally killing people from toxic work environment and overall depression. While most white-collar worker can go home and rest assured that their work stress doesn't kill them and they can just turn off their computer, blue collar workers are dying on the field, physically and mentally. This usually leads people to pursue more and more white-collar jobs even though it paid less than blue collar.
Agreed. Most state OSHAs are a joke. There is little recourse for most workers. The union ones have some but even then, the contractors and the lobbyists have more. I fear for my partner’s safety almost every day since he works in construction.
White collar jobs are also extremely exploitative now. You pay for your own training and often do unpaid internships. Tome blue collar work is exploitative too but the labour mobility is extremely high so hopefully you can find a good workplace. The only issue with blue collar work is that often you’re working for very incompetent and unconscientious people so it’s a massive adjustment.
I mean at the end of the day it’s all about having good pay, benefits and time off, so it doesn’t matter I have a degree and a internship from a top bank. It’s smart for me to pivot to work for the city as a cop or fire fighter so I will do that.
@@joelcartagena9332 Also safety. All the money in the world won't help if you don't live long enough to see a paycheck. Hence why being a cop or fire fighter is an awful idea.
@@petelee2477being a cop is actually a fairly safe job funnily enough.
@@petelee2477 being a police officer or fire fighter isn't as dangerous as it sounds.
to give some perspective. in my country in the last 80 years, 99 fire fighters have died. (most of them far in the past, in the last 20 years only 7 have died)
and at the moment my country has 27.000 fire fighters.
so to make it easy to calculate lets say the amount of fire fighters and the dead rate has stayed the same in the last 80 years.
that means that we had 80 years x 27.000 fire fighters = 2.160.000 people in fire fighting jobs
and of those 2.160.000 only 99 have died, that's a dead rate of 0.0046% (a chance of 1 in 21.000)
and as said in modern times that rate has gone down significantly (20 years x 27.000 fire fighters / 7 deaths = 0.0013% or a chance of 1 in 71.000)
That would only work if those jobs actually offered better pay, time and benefits.
75 percent of job listings require a BS or BA but only 40 percent of Americans hold degrees
I meet milllions of people without a high school diploma
Problem being a lot of those jobs want SPECIFIC degrees. Sometimes absurdly specific.
It is to filter out their job applications count.
Source? That's just some made up B.S.
Be careful with the math. Only 60% of americans are working. That means 45% need a degree if you want to fill every job listig.
Ok - so if blue collar positions are in such high demand, why is the pay so low for these jobs (I’m including teaching and nursing here as well). This seems to defy basic supply and demand
High demand maybe but also high supply. There is a million africans waiting outside the border to do those.
@@michaelpieters1844I genuinely dont think that is the primary cause, greedy corporate decisions would still charge very little
Finance major big state school grad 2017 with a 3.5 and couldn’t land an entry level corporate FP&A job for a long time, got depressed, then once I did at a big company, fixed a forecast model with a simple PEMDAS math mistake and I was like you have to be kidding me. Could’ve done entry level FP&A out of high school I swear. Also didn’t know hiring was basically outsourced to recruiting firms who basically decides who gets an interview in corporate America
The owner of the Baltimore Ravens made his billions starting a staffing firm.
Tons and tons of money in headhunting and recruiting and to a lesser extent HR
It’s all vetting out the least able candidates, sorry it’s so brutal.
@@raybod1775 we need to be more honest to high school and college kids about career trajectories, the real world not being fair etc. bc when you go from AP high school student and football player to solid finance graduate from a now tougher to get into college, to working in a minimum wage package hub at 3 am for 9 months to get an interview at the corporate office, you get depressed and a nicotine vape addiction pretty quick
In high school we had a program where we could take one day a week to work with different trades, to see what we liked. It counted towards our finishing high school grade. The tradesmen I worked with continually discouraged me from taking up a trade and said I should do something like accounting, finance etc. Not realising i had no capacity for that and no real interest in it.
Twenty years later, after pissing around with other things for 10 years and wasting valuable earning time, I train and assess people in trade skills. I wish I'd done the trade straight out of school and I think we need to rejig what we sell the young as desirable.
Agreed. "GO into the trades" is such a new thing that even most millennials, even those on the younger end, missed it!
I’m glad you mentioned “capacity and desire” for certain work. When I was younger (Gen X), it was all about getting a degree, especially as a female. No one was telling a young woman in high school to get a trade job. If you were middle class growing up, it was “go to college so you won’t be a loser”. If you didn’t have the desire to do anything related to a degree…didn’t matter; go get one anyway. Didn’t matter if you didn’t have the skills for math or science, better get in there and get a STEM degree (it wasn’t called that back then, but same difference) or be a doctor/lawyer/finance person. We got “keep your head down & work hard at a REAL white collar job you’ll probably hate and you’ll be successful” crammed down our throats.
I’m a systems engineer at a factory and I met a factory worker who has a computer science degree who’s doing night shift factory work
That is pretty wild, but a lot of companies are asking insane whiteboarding questions, coupled with tech layoffs, it is a rough market out there. I would hate to be graduating into this.
Some of the stuff I hear about in these interviews is bananas because 98% of it is irrelevant to what I want in a jr. engineer.
It is to the point where you have to decide if you are going to be a real software engineer or make a career out of the dog and pony show that is FAANG-style interviews.
Unlike computer science, the factory work actually has to get done. So it’s an available job.
Computer “Science” is a cute degree, but companies need hand’s and Eyes more than they need another keyboard smasher when they can just trick their current one into over working.
@@mzaitethat’s not how it works… companies def need swe for their software needs. If anything most jobs swe and factories r getting outsourced or replaced….
CS degree is useless if you don't actually learn any skills. Out of the 15 majors I graduated with 3 of them never went to class and are trying to boot camp their way into the market because they never actually learned any languages or skills.
@@dencentbeatz794 Except all the places that still do build here, often so they can claim the"made in the USA" premium, or fulfill government clients. They only need to outsource Software engineering.
As an over-educated, underemployed elite I have a few thoughts on this...
1) One of the greatest problems in our society has been tying the concept of education to work...i.e. I go to school to get a good job... when really the two shouldn't be linked. When Jefferson talked about the importance of an educated citizenry for the survival of our nation he wasn't talking about corporate bottom lines and employment numbers (see....over-educated) it was something much more fundamental. Understanding, questioning, analyzing are all things we learn to some extent which help to ensure the health of a democracy.
However, as valuable as educated folks may be for the survival of democracy it seems to be much less valuable to capitalism. For the owners, a few educated folks are good and necessary a doctor, an engineer their education provides something clearly of value to capital, but education of the masses is kind of anathema to their interests. What Robber-Barron wants their workers to question their decision or demand better pay etc...Sure, business may have agreed that folks should know enough math to pay their bills and buy things, and be literate enough to read the bible or the occasional headline, but I really don't think they weren't sold on the idea of a truly educated electorate. So when the advocates of more and greater education for the American populace were trying to expand schooling, they sold it as a kind of workplace readiness program because the Owning class would accept it. Thus for a hundred years or American's (and those living under capitalist systems) have viewed education, not as a good thing in and of itself, but as a means to an end. I study this to develop that job skill. I go to college to get a better job.
Yes, of course there is some cross over, where the things you learn in school are directly relevant to your job, but in many cases the two should be divorced from one another. How many jobs are there that require a college degree but don't really require you to use any of that knowledge?
2) There can be a definite snobbery to the "educated" classes in comparison to the "working" classes. My father was a carpenter and for a few years I worked with him and thought I'd probably be a carpenter too. I enjoyed the work, had a good teacher, and maybe a familial knack for it. Life took it's twists and turns and I ended up as a scientists instead of a carpenter. But I have always loved building and making and sometimes wonder, to this day, if I made the right choice. Anyway, I remember being in college and telling one of my friends how much I loved construction and how I missed it and wondered if I had made a mistake in not pursuing it. The look of absolute revulsion and horror on her face told me all I needed to know. She had no respect for that kind of work and viewed it as beneath anyone in "our" position. Which is truly sad.
3) It's not just Liberal Arts majors that we are producing too many of. In the sciences complementing your PhD used to be enough, now with the glut of PhD's you pretty much have to do a Post-Doc to get a professorship, but often to get a job in Industry as well. This is a contentious issue, but as has been pointed out, if there weren't so many "eager" PhD's entering the job market every year wages for Post-Doc's wouldn't be stagnant or even declining in some cases.
As a over employed farmer I can't read thru this shit get to the point where I fix the tractor and get back to making more food.
Gonna have to take that up with John Deere, though they'll probably be mad that your trying to fix it yourself. Lol
Underemployed elite 💀
Hannah Arendt wrote that the dichotomy between "manual labor" and "intellectual labor" is a complete fabrication. In fact, one only has to look at craftsmen or tradesmen to see how clever they must be to carry out their tasks without damaging their work or blocking their colleagues' personal space.
If there’s such high demand and low supply for trade workers, why are they making so little?
Like you said, trade workers don’t make much until they own their business. Don’t get me started on teachers and nurses.
Easy, because we don’t uphold a realistic floor of income, and unions are a bad word due to both politics and corrupt ass unions.
Oh please, i'm so sick of the teachers and nurses lies and BS.Teachers are always complaining they only get 42k a year for 9 months of work + medical and other benfits, when in truth that salary rockets up to 80k+ if you stay in the job for half a decade. 42K and benefits + 3 months off (to, shocker, work another job for more money if you want!) is already plenty in most areas for what they do. And 80K is *way* more than enough.
I'm sick of people living above their means and whining about it, and then twisting statistics and ommiting information to con others.
@@chrisjackson1215 you say that as if 80k + 3 months off is a lot.
Teachers are literally shaping young minds. We should put top tier talents to it. Now we just sayings like those who can’t do, teach.
You need enough money to draw talents away from finance and tech and law if you want to solve the issues outlined in the video. That means 300k+ a year in HCOL cities.
@@StarAZ I do say it like it's more; because it IS a lot. If I was able to survive on disability at $800 a year just a few years back I SHOULD THINK that 6K+ is more than sufficient. Even 3k+ a month is more than sufficient if a teacher did only make 40K (this doesn't even account for summer jobs).
If not, then you're simply terrible with money. And besides that I've seen how teachers "shape minds" these days
They're not the teachers of the twentieth century that did their jobs well. These are teachers who are so entitled that they're willing to strike every other week and sabotage students' education because they demand more pay. Don't try and tell me that they do their jobs or deserve more with that attitude. And that, of course, is even if they were being underpaid to begin with.
@@chrisjackson1215 Seems as if you're in need of an education. What was the disability, mental?
I think it’s important to mention that had workers’ wages kept up with productivity, most people would be making more money and less desirable jobs would be sought after more frequently.
Another issue that we have today is the so called less desirable jobs don’t pay enough to support a family and people are working 2-3 jobs just to make ends meet. I believe some people would be content with working a job right out of high school if the job actually afforded them a livable wage.
I could go on but I think those are the more significant things I could think of to make this video more nuanced.
I have a few problems with this video here...
1) I have Bachelor's in accounting. Companies, even accounting firms, cry and whine around where I live, how they can't find qualified workers including accountants, yet, I can't find a job in my field. Even on rare occasion get refused and then see that same ad refreshed on the same job board the next day. It is as if companies refused to hire people that they needed. Furthermore, some companies, usually the bigger ones, run ads, that are never supposed to end up hiring people right away, rather they are meant to create a database, so question is, what is the actual demand for any particular job? This has persisted for years. The "lack of skilled workers" is discussed on TV all the time, yet youth unemployment is still double that of general unemployment! If there truly were no qualified workers, you'd expect companies to hire people and grow and train them them selves irrespective of education, meaning the requirement we'd see the companies drop would not be education alone. We'd also see the working experience requirement dropped, however, what I have seen across my nation is the opposite (I'm talking thousands of sent CVs and hundreds of interviews here. At this point, I am statistically significant). I'm talking junior level jobs demanding two, three, four, I've even seen once five years of working experience in the field for a junior and the working experience requirement is not being dropped, rather it's on the rise! Given it's the employers, who supposedly dictate the job requirements (I mean, you had a video on this yourselves), if they can't hire anyone, shouldn't they raise their own workforce?
2) No, the problem of housing is not workforce shortage. Look at, where lack of housing is the most acute! You'll get California, especially San Francisco, New York and other similar places. What do these have in common? Overbearing and overblown bureaucracy, that makes construction process start in an office and the in office stage takes 60% to 70% of the time spent on the whole construction from initial planning to sale of the finished house. The problem here is, the larger the city, the more economic opportunities but also more bureaucracy, meaning fewer new homes and therefore higher prices.
3) The video appears to me to ignore the influence of technology. Sticking to the world of construction, there are already prototypes of brick laying robots and construction materials techniques, that will not need to use mortar. First houses using these technologies have already been built too! Meaning we will not need so many laborers to actually build the house. We're being told AI will replace jobs being done (most visibly drivers, but also basically any entry level job in finance, coders...). If we look back in time, we'll see, that technologies have usually displaced the more vulnerable people, who tended to be blue collar. Wouldn't it be appropriate to assume, that the same is going to happen in the future and is happening now?
4) And on the count of trade, how many of these blue collar workers have university degrees? We usually think about electricians being only a trade, however, where I live, in order to become a freelancer in the field, you either need loads of working experience, or you need a university degree in the field and a few less years of experience. Forestry also has a degree in the field. The point is, there are university degrees, that produce blue collar jobs. How are these graduates counted?
5) Sticking with the degrees, what is it, that actually gets you a job? Because I'd argue it ain't the degree. It's the skills you were learning getting that degree (hence why it's so important to evade ATS and get straight to the recruiter). Which brings to mind the quality degrees them selves. What the hell is a Woman's studies degree for? I recall having a subject called "Leadership of diverse teams" in my failed attempt at Master's. I thought, that I'd learn, how to accommodate for different employee needs based on their cultural background. Result? Seventy percent of the course was about how women are "discriminated against". Meanwhile, women are absolutely killing it in the economy. My chosen field of accountancy is outright dominated by women! And any back office team you can bet has majority of women doing the job. The session was literal propaganda. Point being, assuming I'm right (which I'd argue I am, given employers are whining, that universities don't prepare workers to do their jobs, though there is a caveat, that unis have to be a bit delayed, given they don't work with the live process), shouldn't we scrutinize university programs more? That propaganda session I had been through could have been replaced with something different, for instance how customs are done, calling it "Regulatory aspects of international commerce". Why don't we ask ourselves the question, whether the quality of degrees had not fallen because of identity politics or bloatation of unnecessary knowledge in academia?
Its similar here too in India. I am in a computer science and engineering (Artificial intelligence and machine learning) degree. The whole degree seems like a joke. I am in the 3rd year. With the 4th year left. Guess what, we just got introduced to AI. Not even something you could apply. It's all theory which i learned in a few minutes. Teachers in each subject are surprised how i am answering every question and stuff. But all it takes is someone attempting to critically think and you are already ahead of 90% or even more people. To your point about the value of degrees. We have a push everywhere i see and go about certifications and how important they are. These are from so many similar firms. If the certification is going to get us a job then why not replace the outdated syllabus with the certification which guess what also sucks. In a field as fast moving as tech and AI you'd hope they would be competent with their syllabus. I don't think anyone in the entire class or the year, It's around 200 students, are even qualified for basic excel. Then this results in crazy but true stats about how engineers and higher educated people are employed. Of course they were scammed by the system, you would think they would teach you something useful but nope. Either way, people seem to celebrating how they are getting these international jobs from America, Canada, etc. But forgetting it's not just their skills that got them there. It's the outsourcing of jobs from those countries getting you your job. Also why pay an employee $50k a year when you can pay someone $10k in another country and they will gladly accept the job. It's the exploitation of labor everywhere. Sorry for the big rant. I saw your lengthy comment and felt like adding in a bit context. We're all fucked. "It's a big club, and you ain't in it"- George Carlin.
@@epicmit9618 And what's the worst? Even if we'll be generous to Unis, they can't keep up with development, because they don't work with the live process and weven if they did the research, it takes time for the sylabus to update itself too. A process, that is too slow to take latest developments into account by it's very nature, mostly because noone can predict the future, least of all economists.
If the question was, "what is the good of accounting", it would be reasonable to grant you some leeway, but, no in the areas you are straying into.
It's time to get real.
Capitalism see Labour as a resource. Full stop. Personal fulfilment and your need for status means very little in the scheme of things. Why? You're only employed to solve their problem really. And as soon as they find a more cheaper, and/or efficient means of solving the problem you're employed you to do, you will lose that job. That's what they call progress. All that stuff about looking after their workers is only to attract the very best candidates from the labour pool. And even they will be discarded at the will of the God of Profit. Thus our economic ideology at the present is almost bad Social Darwinism. It's a meat grinder, as the Pink Floyd album 'The Wall' correctly identified. And the question is will you be inside it or turning the handle? If all the AI hype is to believed your job is on the chopping block. Most white collar jobs will be on the chopping block. Thus, Economic Darwinism suggests that you transition to i) another profession, ii) UBI, or iii) Soylent Green. That's it. The rest - university, school, etc., it's all salad dressing on a system designed to produce economic active workers. When they can no longer be economically active, which AI threatens to do, nobody is willing to commit openly to some form of option iii). But you'll hear Warren Buffet and his son talk about "Degrowth", and they are trying to get the Masses to accept that one way or another the current economic model is on its way out. Thus, human ingenuity is now being directed to unwinding it. The question is how many people do we need?
In that context, what one learns in university is learn how to learn in a limited specialisation, which we might not really need anymore within this, or the next century, due to advances in technology. So we might turn to space to find places to expand into. Or, we might not. Nobody's sure.
But, the lesson to take from this is, don't take your self-esteem from your job. Rather, take it from your ability to adapt and your resilience. Take nothing for granted, and be grateful for what you have. Happy travels.
@@CuriousCrow-mp4cx Except, you're forgetting, that all production needs to be consumed by someone, otherwise it's worthles and its value is 0, but has born expenses. Vast majority of consumers are workers, hence why true capitalism would NEVER see them as mere input. Tomorrow's profit also count's (why would banks give businesses loans at the same times as businesses saught them, if it didn't) and the workers are the ones in whom the tomorrow's profit grows. The fact, that particularly in the US everybody's obsessed with weekly and monthly figures and doesn't care about a year and above, is not a flaw of capitalism, because capitalism thinks holistically. Hell, even things like the environment, which the Left claims is destroyed by capitalism for the sake of profit, has been better preserved in capitalist countries than in actually communist ones, which had protection of environment within their laws. Why? Because some functions of that environment gain such a value, that expending it to produce profit reduces profit even without external factors being involved (it would be nonsensical to destroy hotsprings to mine couple fo tons of coal. It makes sense to build hotels and other infrastructure for guests, provided there is not enough coal to mine). As to the three options you presented. I have some bad news...
i) the situation I described is everywhere and thanks to legislation where I live and general employer attitude, I cannot transition easily into another field, hence why I need to ride this out. To illustrate, in order to beocme an electrician, I'd need to attend a highcshool for three years obtain the diploma (not even a proper degree), in order to become eligable for another set of education and experience to obtain a license, which is required by all the employers in the field. Even ignoring the impossibility of obtaining the experience without the possibility of getting hired, that's another five years of no income, all the while having normal living expenses. That's a non starter. Similar situation is in most fields, that are likely not going to get affected by AI. So retraining and transitioning is not viable option.
ii) UBI is BS, because that money has to come from somewhere. The problem is even if you perfectly matched inflation with creation of new money and deposited it into bank acounts of actual people, base necessities like utilities (if they're not properly regulated), fuel (because you still need to hold down a job and it doesn't matter, how you commute, gas get's burned somehow somewhere), food & drinks, healthcare and most importantly rent and house prices would run faster than general inflation, because these things are very price inflexible, because these actually need to be expended for a person to live. Meaning if you introduced UBI, those who already don't earn enough to maintain a living wouldn't get help (they're in the red as it is) and those, who are right above them would get sucked in with them, because these base expenses would grow just slightly above what was actually distributed by UBI, because that can only be tied to either median or mean inflation, as to be socially acceptable. Mandatory employee ownership of employers could provide a better outcome (employee shares as a mandatory hiring bonus)
iii) likely not Soilent green, but I do see use in Fertilizer (It's Spacer's Choice!)
Our replacements come from poor countries who refused to rebel back home. They won't refuse here.
People were sold the idea that we live in a meritocracy. That if you work hard, and delay gratification you will succeed; maybe that wasn’t true. But neither is the idea that forgoing college for a blue collar job is the road to success. The economy could only support so many plumbers. There are also very few factory jobs to support a reasonable standard of living.
That's one part of it. This economy is full of fake jobs giving you fake money endorsed by a fake government beholden to *real loan sharks.*
There'd be more factory jobs if those jobs didn't get shipped overseas.
You're not wrong, but the "easy" road success is to penetrate an undersaturated market. If blue-collar laborious workers are in undersupply and overdemand, then there's good money to be made with little start up costs in training yourself. If white-collar thinkers are in oversupply and low demand (thanks AI), then there's little money to go around so you better be the best, AND the start up costs in training yourself are high due to interest rates and college costs.
Working hard is a very general term and delaying gratification does work in the case of investing in a low cost index fund. Sometimes working hard might mean putting up with doing something stable that you don't like in order to invest, using delayed gratification to reach a financial goal. It's not studying hard for advanced degrees (going into more debt) for which there are no jobs for.
@@SurpriseMeJT You’re missing the point. Billions of people all over the world work hard. The vast majority of those people are poor. The data shows time and again that there is no meritocracy, and historically there has never been a meritocracy. Just some years ago people were doing the same thing - mocking you if you didn’t get a degree, saying you deserved your poor lot in life because you didn’t do the hard work to get a degree.
Now, people are saying what you’re saying. “You should have gone into trades rather than getting a degree and going into debt!” And so the cycle continues. More people are going into trades and trades will become saturated, and they already are starting to become saturated. And then people who have gone into trades and can no longer find well-paying work will be mocked, “because you should have done something else!”
Makes me wonder if we’re ever going to see this scam for what it is. If you are a working class person - and most people are, whether white or blue collar - then you are at the mercy of those who have capital, the wealthy. If the wealthy - companies, politicians, the politicians’ owners - decide that they want to put downward pressure on the job market, that’s what they do, because it gives them more ill-begotten gains. And that’s what they’ve been doing unchecked for decades, and what’s happening now. You can try to pivot all you want, but this is not a tenable situation for any working class person to be in, because we’re rapidly coming to a point where there’s going to be little opportunity for anyone.
I work as a Director of Construction Management here in NYC. And I can tell you no road worker starts at $20 an hour. Starting is $42, even for construction inspectors with just an OSHA 10 with no training. It is super hard to find people to fill the roles for the constant projects we get. Even I get out of my AC office and go to the project sites, thinking about switching jobs.
You live in NYC adjust for that.
@@TherealbrezWell here in Indiana where homes around me are $150,000. Apprentice trades are starting at $25 ish an hour and people still won’t work for it. $50k a year starting and people are still saying no. Everyone wants to go to college and move to Indianapolis to work for Salesforce or Eli & Lily, which is fine, but is ridiculous
nyc is way overpriced for trades . it's not like that in other states
@@Therealbrez $42 is probably $20 there if not less lol.
Isn't $42/hour hovering near the poverty line for NYC?
As a trades man, im gonna need you to stop telling people to get blue collared jobs. Else im gonna have to lower my prices...
As a homeowner I wish you (the general tradesman you) would. I can’t compete with corporate buying power to have a driveway remade. There’s just enough trades people to overprice the market out of the realm of non-corporate customers right now.
I agree with you. My dad has worked blue collar his entire life and he is absolutely sick of it. He's 59 and wants to retire by 62. He makes very little money. I would rather just go to college instead and take on the debt.
@@mzaiteI think u mean everyone below upper middle class and wealthy. Non corporate entities can def afford it. Just depends on income and investment accumulation.
@@dencentbeatz794 I don't, because they represent a very small percentage of the population and so are a secondary market compared to corporation "property management" and industrial construction/repair.
@@juliansandoval4001 Make sure you actually know what you want to do!
Living paycheck to paycheck when you're making a quarter million a year isn't caused by living in an expensive area. That is pretty obviously a spending and budgeting problem, people feel entitled to luxuries and think they're necessities. I remember reading an article 15 years ago about a family that was paycheck to paycheck on $350K a year, meanwhile their kids were all in private schools, involved in expensive extra curricular activities like Equestrian and travel team sports. All their cars were less than 4 years old and they lived in a McMansion home in one of the areas most expensive neighborhoods. That is a totally self inflicted problem and gets no pity from me, stupid is as stupid does.
You’re focusing on the wrong thing. Regular people are NOT getting paid enough period. We’re not talking about these dipshits that make 300k a year living paycheck to paycheck.
Yup I've seen this alot. I think generally people will live at the top of their means. A few smart folk will live well below their means and have more time and money to enjoy life.
@@joshdoddadbod The trick to a good life is to be a stingy bastard (eg me).
Fun fact, you can replace every example of a degree that was mentioned with a STEM, especially a science or even ENGINEERING degree and it's still true. Imagine getting insane debt, wasting 5 years of your life to get a chemical engineering degree just to only be a dishwasher.... couldn't be me.... definitely not me.....
0:10-Those jobs should pay more then.
11:22-Then pay for that more.
Those would need to pay more than senior corporate jobs to have enought people.
I have got dual majors. Exercise science and philosophy. This was health ethics.
I got paid 18.50 being a surgical assistant to get my 1K hrs for a PA.
I now get paid $23 being a security guard watching youtube.... and I'm way happier
The world is weird.
Kill the ego or the ego kills you I suppose
It's important to have a variety of hobbies at which you can be good and get good in order to find some self actualisation when your job can't provide it due to being beneath your skill level, or not even in somethinbyou care about.
This video hits wayyyy too close to home. I just finished a college diploma as a software dev and it's been few months now that I'm looking for a job without any positive outcome, 6 months to be exact. Before starting my school program, I was told that there is actually more job offers than students graduating from my kind of programs. Now that I'm done, I'm like where the F are the jobs? Good things my debts are only few thousands, I'm reconsidering my whole life path now.
Being an aspiring software engineer today is like being an aspiring finance professional in 2009 after the Great Recession dumped a bunch of excess bodies onto the street. The bubble has burst and the market is correcting. That is why.
Plus AI coming online.
@@lashlarue7924 Great analogy and on point. Make a change, quick.
Reminds me of education. We have superintendents, assistant superintendents, principals, district principals, etc... who are getting paid so much to watch education collapse.
hmm well, if the cost of living went down and the average hard-working blue collar worker could afford a home, a decent lifestyle, and a family, people wouldn't be scrambling to secure elite corporate jobs in hopes they can just get by
We need to value tradesmen, nurses, teaches and constructionists. Knowing a few skilled tradesmen is so helpful. Having well educated and well paid nurses equally probably has great impact on public health.
The longer I work, also supervising young people, the more I see how training workers reduces the need for supervision dramatically. As a supervisor your goal should always be to make yourself obsolete. Empower your managees to take responsibility, to make their own decisions, to speak up if they notice any issues, but also to continue educating themselves .
Working with someone who does that is such an enjoyable experience.
As a NYer, for nurses, it isn't usually pay but working conditions. Just saying. We could also help by not being 400 lbs and not moving and then expecting the medical system to make us perfectly healthy after we collapse in our 70s
I graduated high school after 08. I remember other teens from Middle Class families being told by their Boomer parents “You HAVE to get a college degree, I don’t care what it’s in.”
I didn’t have know why I wanted to go to college, so I didn’t. Peer pressure was strong, but I was very wary of debt. I can’t imagine being behind a desk with one of those BS jobs.
You may be wrong about something. People will take a pay cut for a higher role not to feel special, but as an investment-it’s often easier to find a better paying job later if you have experience in that role. Taking a temporary pay cut may be totally worth it.
I ran into trouble in my game of tropico 6 when i found out most of my population was overeducated and no one was working the jobs thats required less education. Everyone having a college degree isnt a good thing
Unless you are a professional, a college degree has no business being a qualification requirement.
The problem isn't people getting degrees, the problem is the societal expectation that all careers require a degree. Most degrees should have nothing to do with a career.
Plebeians shouldn't be allowed in college.
very interesting observation fellow tropico player
*Laughs as an FAA certified A&P mechanic.*
9:06 *cries as someone living in the still expensive East Bay Area in California.*
Still, though, i am hell of lucky to have dropped out of community college very early on and then seeing a RUclips ad for an A&P technician school. Best RUclips ad I ever saw. Certainly, in better straits, compared to my unfortunate older brother with a Bachelors in Engineering.
Let the devil lowball you for your soul and make killer FPV drones for the military. $35 per hour.
What kind of engineering? I don't hear of any engineers who are struggling right now. Maybe I am strange but there are 5 million developers in the united states.
@@TherealbrezMechanical Engineering if I recall correctly.
I wish there were grownup A&P training programs. It’s just all day just out of high school brat training programs usually in some back water.
I’m amazed at how much harder it is to get trained as an A&P than as a pilot.
@@Therealbrez Mechanical Engineering. Rather odd that he is struggling to find work in that case if they are in desperate supply.
In western EU countries, we do not have to pay for our studies (or it's negligible compared to north-americain tuitition fees). I wonder whether statistical data shows a difference compared to the US, because the idea of prestigious non-manual labor is also there. The more I think about it, the more it seems that degrees and higher education were used as a gate to only let high-society members into high paying, low-manual labour job. We ended up collectively believing that getting higher degrees would get us those jobs, an illusion that is now collapsing, at least partially.
It was in the 70s that the Supreme Court ruled that it is discriminatory to give IQ tests to job applicants, so then I guess companies turned to a college degree as a substitute.
I once had it mentioned that Europe turned Christianity into a culture and America turned it into a business, well America turned education into a business as well.
The lawyer making $200k/month saving $2k/month is insane.
1. Having almost a full salary left over after your expenses is a crazy amount of savings.
2. Having more than $14k in monthly expenses is...a lot. I wouldn't know what to do with that kind of salary.
Don't worry, the lawyer knows what to do with it. He studied long enough to learn exactly that.
@@kreativeforce532 I don't doubt it...
I've also studied long and hard, but haven't really come up with an answer to that. 🤷
I'm hoping he meant 2K AFTER maxing his 401K!!!
If I made that kinda money I'd be saving WAY more than that wtf
There was this big push by the media to get a degree. Whenever there was a commercial break, there was an ad for some university. High schools had college admissions specialists instead of maybe trades.
This was all setup so that we could get a massive rug pull in the end. So yeah, I agree it’s not my fault, I’d go as far as saying I had nothing to do with it especially since it was completely stacked against me from birth. There weren’t other options being advertised, it’s either college or it’s mopping the floor.
Exactly! It was college that was pushed for the “American Dream”. The military and trades were for the people who “weren’t going to do well in college” (aka: the C- and below students). If you were below that, it was McDonald’s fry-making guy for you.
I work at my citys power grid company. We have a shortage on workers going out and fixing stuff up, yet a oversupply of grads who get paid way more than me for misarable work and DONT EVER mention, that they are "qualified" for their position. You dont need a degree to go to planning, you need years of expirence in the field.
My relative got a B.Ed and Master in Chemistry, but she's stay-at-home mom now and was a part-time yoga instructor (made no money), still relying on her parents in her 30s, her husband can barely provide for 2 of them much less a kid
Then she should look for a job in pharmacy
@@-schattenpflanze-3755 not licensed to do that, at least in my country, chemistry is not pharmacy
@@0matters I think he meant, in the pharmaceutical industry. Pharma pays very well.
@@gabi.garcez oh I see but she quit, so lazy never even tried to get a real job =))
@@0matters lol every family got one of those 🫠
I had a degree in biology, and a MBA from Canada's 2nd best university. Guess what im doing now? Lol, a restaurant server, decent money though, but why did i spend all these years in school if i could just jump straight to service jobs that pay well. Granted not all pay well, i did work hard to get to where i am right now to serve in a high end restuarant. I do make 6 figure as a server lol, Those tips from the wine selling is more than u think lol. Point is, it's how you make out of your life, not just by education.
War and Peace and War: The Rise and Fall of Empires from Turchin as well is excellent too. It mentions this concept of Elite Overproduction, something that happens whenever an empire is collapsing. I love how all his books form a cohesive theory with related concepts in between.
Basically trade jobs still don’t pay high enough that people would choose to work them
Independent tradesmen in major metro areas of U.S. make six figure incomes.
And if more jump into trades, the same result would occur as it did for college degrees. There's simply way too many people alive in 2024. We do not have enough jobs for such a massive worldwide population. The third world is our supposed "replacements." Let them take all the low paying job and let the elite rot.
This is a very disheartening topic specially from the perspective of a third world citizen like me.
It is basically the same thing regarding price of college and scarcity of blue collar jobs, but with two main differences:
1. No, you don’t have more bargain power in the job market with a trade degree than with a college degree.
2. No, you cannot make a living as a plumber, a brick layer or a construction worker. Those are minimum wage jobs at best.
It is so sad.
plumbers own Porsche in Chicago ... you have no idea
Another amazingly-depressing how money works video where I actually don’t learn anything rather I feel more like giving up sigh* 😓
Don't go to college that's the lesson
This video is just an anti-college circle-jerk. There is no empirical data for any of this, and this "overproduction of elites" thing is essentially just another weird astronomy for historians kind of thing, where they make up a BS claim and "prove" it by vague historical references. Don't let this low-effort video drag your mood.
It's a doomer take channel anyway which is extra easy to do in hard times like right now. The internet usually strays negative. It doesn't mean your life has to be as bad as these videos.
For example I can talk about my friends and coworkers who've been laid off and struggled to find jobs or had to downgrade to lower paying ones, but on the same token I know friends who make 100k+ out of college without having to live in Bay area, Seattle, NY, etc meaning they actually can save or live their life more reasonably.
But yeah it is bad for the average person right now. Especially if you were born average because youd have to do above and beyond what anyone in your world would do effort wise and it still might not work
Have faith in Jesus, don't give up
Can you please provide a source for the statement at 3:44 claiming that blue collar trade jobs provide a higher income?
Blue collar doesn't make a lot of money, All of that extra money comes from overtime. You could make like $20 an hour and work 60-90 hours a week. You would be exhausted.
Blue collar jobs pay much more than laptop jobs, with the one caveat that you shouldn't be an employee or very fresh.
The man who fixed my windows latch charged me 300 dollars in cash which was essentially a 15 minute fix. He never going to pay taxes for that. Imagine he has 6 or 7 customers each day. Do the math.
I’m blue collar🙋♀️ made 60-75k in my early twenties.
Why don’t I feel too good for my job then???
You have one?
If you don’t that’s genuinely great 👍
Your job sucks ass and they still don't pay you enough even thought they allegedly need you so much.
Bros immune to the doom
As an investment enthusiast, I often wonder how top level investors are able to become millionaires off investing. I do have a significant amount of capital that is required to start up but I have no idea what strategies and direction I need to approach to help me make over $400k like some people are this season.
I believe the safest approach is to diversify investments especially under professional; guide. You can mitigate the effects of a market meltdown by diversifying their investments across different asset classes such as stocks, etfs etc It is important to seek the advice of an expert.
Review your portfolio with a professional and don't make the same mistakes again. Diversify, as in your stock portfolio, and hopefully consult a professional. The key to building wealth is long term. I learned 30 years ago that you have to keep emotions (rookie) out of your investment decisions at all cost. Now, i've made over 800k in profits from my 350k investment.
That does make a lot of sense, unlike us, you seem to have the Market figured out. Who is this coach?
She appears to be well-educated and well-read. I ran a Google search for her name and came across her website; thank you for sharing.
I heard she sells out her body to oil princes in Dubai.
I think the problem is that the top position in the companies simply earn a lot more, i get that a senior employee or supervisor need to be better payed as their jobs includes more responsibilities, and I get that the owner and ceos of companies earn more. money that the floor employees, bit if they only made like, 3 time more than the floor employees, less people would be incentived to get those jobs, all that much work for just a slightly better pay? I'm good where I am, and those who actively pursue the jobs would be more inclined to get it since there's less competition over those jobs, I could get behind ceos getting insane amounts of money as bonuses, so long their salary is tied to their lower ranking workers, so if they want more money they need to raise their employee's salary first, if they don't, they don't get more money, the fact that a company become mlre productive isn't the work of the ceo alone, so it's not fair that he's the only one getting the reward because no matter how brilliant his ideas are, none of them could be put in motion without the rank and file workers who actually do the job.
Everytime i hear that "we are produciing too many overqualified people" i wince a little. Sure there may be some truth about it but it also feels like they are saying "i need someone to ask if i want my cheeseburgers with fries"
Yeah, this is the problem with pretending that you can actually build a complete meritocracy - society needs losers. Instead of acknowledging that in a healthy way and accommodating them, we just go "well, you deserve poverty because you weren't smart enough".
That is your bias
Tbh most people are qualified on paper and that's it. There are a absolute boatload of qualified on paper incompetents
the problem with overqualified people is that most of them are only good workers and fast learners because of circumstances forcing them to reinvent themselves hoping to make better pay
that's why it's hard to keep them in a job like mine that no one wants to take, they didn't go through all the trouble of reinventing themselves just to work for minimum wage that the employers insist on as a starting wage (one usually does not have a year to prove himself)
This is only going to get worse when AI starts replacing “elite” officer workers
Ai can replace most ceos and offices workers now. Ironically well payed and pointless positions. Ai will be objective and eliminate social bias.
@@IL_Bgentylceos will never let ai replace them since they have control over the companies it'd be done in
@@IL_BgentylNot if the AI is handicapped by directives to make "equitable" decisions and enforce politically correct social biases.
@@IL_Bgentylai has bias because we do.
@@IL_Bgentyl wishful thinking. Current AIs can barely replace entry-level positions.
Could the problem also lie with the undervaluation of the jobs at the bottom of the pyramid? Jobs like gardener, fireman, factory worker, electrician, waiter, etc. are arguably more important to society than "Marketing manager" yet they are comparatively paid and treated like shit, not to mention a lot of them are associated to some form of social stigma. If these jobs are hard and/or valuable, they should be paid accordingly, or at least allow for some kind of upwards mobility, but it seems that these jobs have lost their allure because employers will only hire at the cheapest salary possible for these tasks.
I think about how great Graeber's Bullshit Jobs book is.
Work that involves physical labor has always been seen as dirty and the work of the poor and dumb, whereas work that revolves around usage of the mind is seen as prestigious and intelligent.
…or another way to put it is that people are inherently lazy and despise work that requires physical effort, and thus hold high value to jobs that don’t.
3:21 that's not statistically right, since not all of the people who have a degree participate in a workforce.
Net worth truly snowballs after $100K! Keep investing regularly and you’ll be blown away how much it can change in a few short years. Here’s to $1 million and to FIRE!
My advice to everyone is this: if you want to grow big this year especially in your finances. Be willing to make investments. Saving is great but investing puts you on a pedestal where you wouldnt have to worry about savings as you do now. Thanks to my FP, my portfolio is doing really great and I’m proud of the decisions I made last year.
Nice. People often underestimate financial planners’ importance. Over 50 years of data reveals that those who work with planners typically earn more than those who go it alone. I’ve been fortunate to work with one for 10 years, resulting in a $1 million portfolio, largely from early investments in AI and other growth stocks.
impressive gains! how can I get your planner please, if you don’t mind me asking? I could really use a help as of now
Elizabeth Greenhunts is the licensed fiduciary i use. Just research the name.
You’d find necessary details to work with a correspondence to set up an appointment. ..
Thank you for the lead. I searched her site up. I hope she gets back to me soon.
0:11 “keep us safe” *shows picture of a cop* 😂
The overqualification point within the mentioned authors books also severely overlooks something that was occurring in the later part of the Roman empire that massively accelerated its demise, and that was the rampant importing of slave labor to do jobs that were previously done by either low skilled or medium skill level workers.
Suddenly masons, carpenters, blacksmiths, and all sorts of specialist trades or workers were out of work because why would the noble employing them keep paying them when that noble can just bring in some slaves from modern day Libya or Algeria?
This caused those workers to lose jobs, lose economic prospects, and, those that could, moved to other areas where they could survive, which exacerbated the issue.
Outsourcing & Migration...
A reminder that people making less than $50k a year are often still working 2 or 3 jobs to get by month to month. Its not just the "overproduced elite" as you say, its the entire working class. Being poor means you are working your ass off, and its all for nothing. There is no magic formula to get to that first rung of the ladder. The truth is its all privilege and luck.
I have done many rounds of hiring for my professional department (marketing) in a midsize city and find there is actually an acute shortage of qualified applicants for perfectly good "cushy office jobs." We almost always end up hiring a "project" that we have to try and develop because we have no other choice, and it isn't because we aren't willing to pay for people who actually have skills. Most applicants are just unskilled, including the ones with degrees and "experience." Lots of these people drift through unchallenging college programs and then sit in a chair somewhere, pushing emails around and sitting in meetings, never really doing anything important or learning anything useful.
100%. Employers that think universities can teach up-to-date job skills are delusional. .
hiring managers: must have 3 years experience for this entry-level job
also hiring managers: nobody knows how to do the work for our mid-level and senior positions 😢
Have you considered your requirements may be out of line, and your expectation of fungible employee units may be unrealistic?
@@dohczeppelin37 Heaven forbid you actually had to train people. How dare people not be born with these skills.
@@kjell744Iq tests r a terrible measure for a job… it’s mainly relevant skills. Also training is costly and takes time. Someone good at math is not inherently good at marketing, etc.
I switched from white collar to blue collar work in my late twenties and it was the best choice I've ever made. No office politics, no sitting around on my ass doing fake work and best of all, much better pay. While it can be tiring physically, I don't think it's "back-breaking" at all. I'm from mainland Europe though, so I can't say much about blue collar work in the US.
White collar promotion be like: "RANK UP! MASTER SERGEANT SHOOTER SERGEANT PERSON!"
Blue collar: "Here's a $4 an hour pay rise and more overtime."
White collar: "Your base salary only goes up by twenty thousand, but the bonuses are much more generous."
Rip total biscuit
"...Everybody is qualified to deliver a stakeholder engagement deck to synergistically Blitz-scale a business-to-business platform for ingesting marketing survey data from the cloud... but you can't find anybody to fix your plumbing." You had WAY too much fun writing that.
"It's not fair to cure cancer now because of all the people who have died of it already" is all I hear whenever somebody brings up the "it's not fair to people who have already paid it off" argument against student debt relief.
Finally someone says it! Thank you!!! 👏🏻👏🏻
Imagine paying people low wages to do unpleasant and physically tiring jobs and then complaining that nobody wants to work (for you) anymore.
On the other side of the spectrum, most trades-jobs require insane amounts of labor and hours and offer fuck-all in return unless a union represents your area. Thats great if you live in an area with strong trade unions, but here in south louisiana they are virtually non-existent and we have to compete for the bottom to make less than the Costco cashier while running 6-inch rigged conduit in a chemical plant, and people take these positions gladly because the vast majority are immigrant workers.
We're kinda spit-roasted on this one.
The pay for hard trades isn't actually as good as everyone claims, more so after you factor in the years of training needed to learn the trade well enough to make good money, as well as the cost of tools to perform the job and the expensive healthcare you will be forced to pay for when you get hurt. What happens when you fall off a roof and have to spend a week in the ER and 6 months on the couch, then carry those injuries with you moving forward.
yeah welcome to reality bro
the elite jobs are very difficult to udnerstand
The trade jobs are time consuming and dangerous
The lowest jobs either disgusting or boring and come with barely liveable Pay
My dad’s a small business owner and I’m always very proud of how he pays the blue collar workers working on construction, plumbing, etc a liveable wage, almost always works alongside them helping with the manual labor, and lets everyone take a break midday when the sun is unbearable. He’s even set up tents and showers in the back when some workers lost housing due to a 200% rent hike (like wtf california???), and we’d frequently have lunch or dinner with them together.
He doesn’t understand how bad the job market is right now, frequently complaining about why people say there’s no jobs when clearly business owners like him are desperate for workers. I don’t think he understands this overqualified problem as stated in the video, or that most employers do not give nearly as much of a shit as he does about the blue collar workers they employ 😅
I'm a mercenary with no concern for titles when it comes to my work. My recommendation for younger workers:
- screw college. It's a waste of money and time. I have no college degree and a six figure salary.
- find high end technical work that nobody likes doing and get good at it through free/cheap online training.
- get good at socializing, make contacts, get your first job or two through back channels
"- find high end technical work that nobody likes doing and get good at it through free/cheap online training." Legit, very real tactic here. Bonus points if you also come in with a real education, and/or literally make the job to solve an otherwise unmet problem yourself.