I agree that it's a bad idea to lump all degrees together when analyzing the value of college, naperlou. Given the lists that come out every year with engineering grads earning the highest average salaries year after year, though, I don't understand why there's always a shortage of engineering graduates. The law of supply and demand would seem to indicate that there would eventually be a surplus of engineering grads, and the starting salaries would drop due to an influx of students migrating to engineering. But that never seems to happen. Year after year, engineering grads have the highest annual starting salaries.
The problem with engineering has always been that while it offers good salaries straight out of school, the money flattens out pretty fast. I suspect some of these people found ways to keep their salaries moving up the curve, especially the Congressmen who don't have to pay taxes. And, yes, bobjengr, I agree that engineering offers great critical thinking skills.
While US Congressman Joe Barton is an engineer, I don't think I would have used him as an example in this article. He's made a habit of saying (and doing) some amazingly ridiculous things over the years.
Very informative post. I have two friends who graduated from engineering schools then went right into law school. One is now a patent attorney and the other owns a retail establishment ( Starbucks ). Somewhat sad but reality, I know several graduate engineers who started working as engineers but realized there was no real money in the profession and looked elsewhere for their livelyhood. I think we can all agree that engineering required critical thinking and that's what other professions can use.
You're right, naperlou. The Wall Street Journal had an article called, "The Diploma's Vanishing Value," three days ago (link below). Engineering degrees, however, never seem to have a vanishing value, however. I would add that degrees in English and liberal arts have significant value, but that value doesn't translate well to the job market, especially when coming directly out of school.
Chuck, this is a very instructive list. It is good to see so many talented people who were educated as engineers. This is also germaine to the higher education debate going on in this country. We are often afraid of the rising power of countries like China and India, at least partly becuase they are graduating so many engineers. At the same time there are articles and columns in American papers talking about the diminishing returns of a college degree. The problem with those analyses is that they lump all degrees together. We don't need more social workers and english majors, do we? We need more engineers, as evidenced by the debate on H1B visas. Even if some of those engineering grads don't spend most of their career as practicing engnieers, they typically bring analytical skills to areas of endeavour that help them to be successful. We need more of that.
Ah, OK, I just sort of meant it anecdotally, Rich, as it seems like so much of the innovation we write about comes out of MIT. I am sure a case can be made for more than one institution to be the best...I certainly didn't mean to offend anyone at the other fine engineering universities out there!
Here is a link to someone's list of top undergraduate engineering schools...MIT is at the top but as you can see of course there are a number of other fine schools: http://colleges.usnews.rankingsandreviews.com/best-colleges/rankings/engineering
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