University Degrees: Just Pieces of Paper or More Than That?
by lucy@JijiniMarkets - Fri 18 May 2007
I had an interesting discussion with a friend of mine about the value of degree certificates. It covered the actual value of courses in the real world and the influence of university education in business or finance.
Does having a degree make one a better businessperson? Does attending Ivy League schools make you a better investor? I don't necessarily think so, however I do believe it opens doors that would not have opened if your CV did not boast of these achievements. Most of us were brought up in the same way; our parents advised us to go to school, get a degree and get a good job. But at the same time I look at my parents and their peers and consider them successful even without degrees. The ones who went to university and attained their degrees did get into the formal corporate sector while majority of the rest got into the civil service or went into business and grew from humble beginnings to get to where they are today.
Those who go on to university do so for a myriad of reasons: For some the menacing eyes of parents should you dare to declare you have decided university is not for you is enough to send you running to school; For others they believe its just something that you do, like sleeping or eating, people go to university, so off they go; For others they do believe it will really change their lives and they will be better skilled at what they do; For others they go for personal satisfaction. A friend of mine who has been successfully running a design firm for many years recently did his masters, when I asked him why, he said it was just for personal satisfaction and at the end of it he didn't feel he had really learnt anything that his business experience had not already taught him. His response backed my thoughts that actual experiences in the working world and what you learn in classrooms - textbook theory as it is commonly referred to - is so different.
The other debate was on whether one's education level plays a part in the success or failure of relationships. My friend believes that most female graduates cannot have a successful relationship with a male non-graduate; He believes that this is a pure recipe for disaster. Examples of problems that come from such unions are said to be insecure men who are frowned upon in golf club locker rooms, even if they are successful in their field of business.
Finally, when it comes to investing, Warren Buffet is quoted as saying "Success in investing doesn't correlate with I.Q. once you're above the level of 25. Once you have ordinary intelligence, what you need is the temperament to control the urges that get other people into trouble in investing." As we all know, the 'right temperament' is not something a university degree gives you.
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