Earning and Learning

It is a debate as old as higher education itself: What matters most when it comes to getting a job? Does a higher degree get your foot in the door, or does your past work experience count for more? And beyond simply obtaining a job, will your experience or your education serve you better in terms of staying employed, growing in your career, and making a good living for decades to come? Here is what the evidence shows.

                                     Key points 

• Educational attainment and income are closely correlated, with higher degrees typically leading to higher salaries.

• Better educated workers also have lower rates of unemployment.

• Higher education is especially important for people early in their careers. As you move along, job experience and the acquisition of new skills can take on added weig

                            Which is the most important

                                Experience or Education

What matters most when it comes to landing the best Job Experience or Education?

Each side has worthy arguments. 3 realities to consider:-

Reality 1:-  It’s not really an either/ or situation 

The two components, Experience and Education, will complement one another, and boost your chances of landing your dream job

Reality 2:-  There are many variables for example, degree of Technology, degree of Engineering and The University

Reality 3:-  Numbers only tell part of the story. Education and learning both go hand in hand

                         Work Experience v/s Education. 

The arguments for higher education vs. work experience (and vice versa) are varied, but some of the main ones go like this:

• Obtaining higher education only proves you can succeed in academia, not in a real-world job situation. Success in actual work tells prospective employers more about what you have to offer.

• Work experience can make you a good match for a particular job today, but without higher education you may lack the skills that are important for advancement tomorrow.

• A degree can show that you have the specialised knowledge or technical skills an employer is looking for and that can be transferred to the workplace with minimal on-the-job training                                                                                                                                   

                        Is education more important than work

Obtaining higher education only proves you can succeed in academia, not in a real-world job situation. ... Work experience can make you a good match for a particular job today, but without higher education you may lack the skills that are important for advancement tomorrow 

                              How does education affect work

According to data from the U.S. Bureau of Labour Statistics (BLS), earnings increase and unemployment decreases as educational attainment rises. Grouping workers by education level, the chart shows that those with more education have higher earnings and lower rates of unemployment than those with less education

                   Does education increase employment?                     

– In general, people with higher levels of education have better job prospects; the difference is particularly marked between those who have attained upper secondary education and those who have not. – In all OECD countries, tertiary graduates are more likely to be in work than non-graduates

                        What is the importance of education

It helps a person to get knowledge and improve his  confidence level throughout life. It plays a great role in our career growth as well as in our personal growth. It has no limitation; people of any age group can get education anytime. It helps us to determine about good and bad things

              How does higher education benefit the economy

Colleges and universities drive economic development. ... As they create a more educated labour market, colleges and universities essentially increase wages of all workers. When the number of college graduates increases one percent within a region, overall wages of high school grades increase by 1.6 percent

                Why is education important for development?                         

Education is a powerful agent of change, and improves health and contributes to social stability and drives long-term economic growth

             Why are most of the unemployed educated?

Educated unemployment is when a person is educated and is not able to find a suitable and efficient job for himself. It could be happening due to various reasons, but the most popular reason is because of the lack of employment opportunities.

The supply of graduates is more than the demand there is. This gap especially widens in the times of recession, when the companies and organisations find it difficult to cope up with the crumbling economy, resulting in laying off of employees, much less hiring new.

5 Major Reasons for Educated Unemployment in India 2020

1). Population.

2).  Low Institution/University Standards

3). Lack of right skills

4).Job opportunity & qualification mismatch 

5).Meeting societal responsibilities

                                       Conclusion 

When we compare our educational institutions with the ones outside of the country, we come to an understanding that the teaching methodology is extremely flawed. Outdated curriculum, inferior teaching resources, lack of basic infrastructure, to name a few, are at the root of youth unemployment. The students are not trained to meet the needs of the economy, or understand the subject to the core, but rather to cram up the syllabus and get the right grade