This morning I watched HK TVB news about the job market. Both potential employers and new graduates were interviewed. By Johnson Choi 7-19-22
Some employers said could not find qualified employees. Many new graduates said unable to find job offers.
Why is the mismatch?
Some employers said new graduates expect unreasonable starting pay. Others are overqualified. Many have changed their jobs 2-3x per years. They are not desirable employees. Some are blacklisted by future employers.
Some new graduates said low starting pay could damaged their future wage increase and advancements. Therefore they rather go back for more schools. That really is not a good excuse. Spending 2 more years in school does not guaranteed you better jobs. It might make you overqualified for new jobs not to mention the opportunity cost.
I think we need to step back a little and asked ourselves some questions.
I will separate those students from wealthy families that their college degree maybe something other than finding a future good paying job to raise their families. I will exclude them from the discussion because whether they get a college degree or not don’t really matter because they are financially set for life.
So what about the majority of the young people who go to college wanting to get a good job to improve their lives and to raised their families?
I believe the first steps need to come from their parents and high school counselor. It is not difficult to find out the average pay scale of current and future jobs. And whether those jobs will continue or soon be replaced by technologies, AI or robotics.
The students should based on their academic levels and skills to pursue the college majors offered them the best future jobs.
In real life situations, all too often the students pursue a college degree I call it a hobby. A hobby meant you have no intention ever going to make a decent living, and unfortunately you don’t have a rich family to provide you a welfare plan for life. These students are set up for failure. Most of the time I felt sorry for their financially poor parents who mortgage their house and cashed in their pension to send them to college. In some situations took these kids 6-8 years to finish a college degree.
So what if you get the right degree, does that mean you are all set? No!
Let me use engineer degree as an example. A job offer in Hawaii is 40-60% less than same job in California. If I am a Hawaii resident, I will get my college degree at UH, applied for job and move to mainland after graduation.
Let’s talk about the college degree I got, Hotel and Restaurant Management? What is my job prospects if I decide never to leave Hawaii? How many new hotels in Hawaii last 20 years compared to Asia? Less than 5 in Hawaii, more than 2,000 in Asia. If you stay in Hawaii, unless your family is politically connected or owning a profitable hotel, your career advancement will be severely restricted.
Many college graduates in HK could find good jobs in Greater China Bay Areas. Just like their counterparts in Hawaii refused to travel to the mainland. From Hong Kong is 1-2 hours by high speed train up north, from Hawaii took 5 hours by air to California. College graduates in HK is so lucky compared to Hawaii and many don’t even know it. Many brainwashed by political slogans and completely detached from the reality.
Some young people may say I am not the college degree type materials. How about vocational training to be a plumber, carpenter, electrician and contractor. These people on an average making 2-5x more than a college graduate including MBAs.
Johnson Choi Biz 