Five Reasons Degree Holders Are Poor

Five Reasons Degree Holders Are Poor :

The relationship between having a degree and being financially stable can be complex and varied. While it is not ideal to say that all degree holders are poor, however, several of them still struggle to make a reasonable amount of income.

It has been proven that having a degree is not a guarantee to financial success, meanwhile, several degree holders still believe in the illusion that a degree is all they need, and they have a great future.

One thing they fail to understand is that school rewards memory, but life rewards one’s creativity and ability to solve problems. According to research by Steve Siebold, who spent three decades studying over 1,200 of the world's wealthiest people, he disclosed that nearly a third of the world's billionaires didn't graduate college.

In his book “How Rich People Think”, he stated that many world-class performers have little formal education, and have amassed their wealth through the acquisition and subsequent sale of specific knowledge. On the flip side, he notes that the masses are convinced that master's degrees and doctorates are the way to wealth, which is why a lot of them struggle.

Below are five (5) reasons why degree holders are poor;

1.) They Don’t Think Beyond Their Certificate:

One of the main reasons why a lot of graduates are poor is that they cannot see and think beyond their certificates.

Many of these graduates often limit their aspirations solely to obtaining a degree certificate, neglecting to consider the opportunities available to them.

Instead of exploring their passions, interests, and potential career paths, they often focus solely on acquiring academic qualifications without fully understanding how to leverage them effectively in the real world.

This narrow focus hinders their ability to identify and pursue alternative paths to success, such as entrepreneurship or professional development opportunities.

2.) Obsolete Career Choices:

Some degree holders out of passion or interest pursue careers in fields that have become obsolete in today’s world, due to advancements in technology.

This can happen for various reasons, which includes a lack of awareness about current trends, attachment to traditional career paths, or pursuing education in fields that are no longer in high demand.

For example, someone with a degree in typewriter repair may struggle to find relevant employment opportunities in today's digital age where typewriters have largely been replaced by computers and printers.

Therefore, it is essential for individuals who find themselves in such situations to adapt and acquire new skills or knowledge to remain competitive in the job market. This could involve pursuing further education, undergoing retraining programs, or transitioning into related fields that offer more promising prospects.

Overall, while it's important for degree holders to stay informed about current industry trends and job market demands, it's also crucial to encourage lifelong learning and flexibility that can help them navigate career transitions and find fulfillment in their chosen paths, regardless of industry trends.

3.) They Prioritise Their Certificates More than their Gifts and Talents:

One reasons why a lot of degree holders are poor today is that they prioritize certificates more than their gifts and talents. In a scenario where jobs are not forthcoming, rather than utilize their talents or gifts, they rather continue in the endless pursuit of getting a job.

Many of them feel compelled to secure employment in notable organizations as a form of social status.

However, they must understand that while degrees provide important knowledge, talents and passions are equally essential for personal fulfillment and success. Therefore, it is pertinent for degree holders to explore and embrace their unique abilities which can lead to a more holistic and fulfilling approach to career development.

By recognizing and nurturing their talents alongside their academic achievements, they can create a career path that aligns with their passions and aspirations, ultimately leading to greater fulfillment and success in their chosen endeavors.

4.) They Fail to Acquire Relevant Skills:

It is not uncommon that many degree holders struggle to acquire relevant skills that are in demand in the job market today.

This is so because traditional academic programs often prioritize theoretical knowledge over practical skills. As a result, most graduates lack hands-on experience and proficiency in applying their knowledge to real-world scenarios.

As many industries continue to evolve rapidly due to technological advancements and changing market trends, several Degree programs cannot keep pace with these changes, leaving graduates with outdated skills that are no longer relevant in the current job market.

To address these challenges, there is a growing emphasis on integrating practical training, and skills development initiatives into higher education curricula. This is why government-approved educational platform GetBundi is positioned to significantly do this at scale.

The startup is designed to deliver high-quality, engaging, and accessible Science, Technology, Engineering, and Mathematics (STEM) subjects for post-primary school education and Digital Skills Courses for youths across Africa. GetBundi's projection is to support and upskill ten million Africans in the next ten years through STEM and STI digital skills acquisition, a strategy it tagged as “The GetBundi Vision 2032”.

5.) They Look for Jobs and Not for Opportunities:

Many degree holders tend to focus solely on finding traditional employment opportunities rather than actively seeking opportunities, such as entrepreneurial or innovative ventures.

This mindset is often ingrained by societal norms and expectations that prioritize secure, stable employment over riskier or less conventional paths.

Additionally, the education system traditionally emphasizes preparing students for employment within existing industries rather than fostering entrepreneurship or creative problem-solving skills. As a result, many degree holders lack the mindset to pursue opportunities outside of the traditional job market.

Conclusion

In today's dynamic world, degree holders must recognize that success often requires more than just academic qualifications. While a degree provides a solid foundation of knowledge and skills, thriving in today's world demands adaptability, innovation, and a willingness to continuously learn and grow.

The job market is constantly evolving due to technological advancements, globalization, and shifting industry demands. For degree holders to stay relevant, they need to be open to exploring new opportunities that may require skills beyond their initial area of study.

By looking beyond their degree and embracing a holistic approach to personal and professional development, they can position themselves for success.