I've gotten a lot of, mostly negative, feedback on my article that ran in Saturday's Homecoming edition, titled: "Hobby majors, not practical for job competition." I want to further explain my position, but mostly address some of the comments left on my article.
The point of my column was that decisions you make now, i.e. picking a major, dramatically impact the rest of your life. I tried to illustrate this point using nominal observations, chiefly starting salaries. I used the assumption that the market efficiently places value on the productivity of its workers, expressed through wages. Obviously, there is a lot more to a career than salary, which, if you read closely, I mentioned. I said that when making choices, you take into account money, opportunity cost and utility. Utility is the amount of satisfaction received from whatever you're doing.
There are two values we're looking at, the value the market places on your career - salary plus benefits - and the value you place on it. You will obviously include wages and benefits in how you value your profession, but you must also include psychic income, or the satisfaction you gain from your work. You also have to add in the relative difficulty, stress and your alternative jobs. It's very easy to look at the labor market's valuation, but difficult to look at the subjective value you place on your major or career. Don't be mad at me for pointing out a fairly obvious observation just because you don't like the way the world works.
Now to address some of the thoughtful comments:
TheMaskedAvenger wrote, "I'd rather be a starving artist than a repugnant a--hole. You're views are nauseating and shallow. They stink of elitist egotism. You're attempt to belittle other professions via public media in an effort to validate your existence is almost self defeating in that you only make a spectacle of your ignorance. My life will end up just fine. Enjoy the $53,000 (and the cubicle)."
I'm glad that from "you're" point of view on objective economic analysis of labor market facts is synonymous with ignorance. I would rather have $53,000 and a cubicle than be a starving artist. We have established that people have preferences. Thank you for the enlightenment. Existence validated.
Jaymes wrote, "F--- You Derek Wilson! You don't deserve this column in the Ball State DN! I am writing a complaint to get someone else to take your place!"
God forbid someone write an opinion in the forum section of a student newspaper. I was asked by the DN to write columns about business and the economy because they had no columnists that wrote about business. Jaymes, I'm sure you're a knowledgeable person, please submit some of your own articles or opinions for the betterment of everyone. It's much easier than it looks.
Alum07 wrote, "...if you actually enjoy what you do rather than focus on money, you'll usually work much harder. Hard work will lead to success, not picking the "right" major. (see Steve Jobs or Bill Gates, who don't have college degrees, but worked hard)."
OK, Alum07, I have three points, I agree that if you enjoy your work you'll work harder. Second, you can't point to Steve Jobs or Bill Gates as examples; they are outliers. My column addressed salary averages, not the mega-rich. Third, there is that conventional wisdom again: Hard work does not always lead to success. By your logic, hard-working cashiers at Walmart can hope to be successful like Bill Gates.
Paul wrote me a short novel, so I'll have to include the abridged version: "I majored in philosophy at BSU. I now work at a bike shop and coach high school JV football and basketball. How much money do I make? $20,000 a year ... I get to ride a bike to work everyday, tell people how riding a bike will make their lives better (more economical, better health etc.) ... I also get to influence young men's minds to be better people, not to think about themselves first, but others first. I teach them the importance of cooperation and the realities of competition (i.e. despite your best efforts, sometimes you still lose)."
Paul, I'm glad you enjoy your job and your work as a coach. You are a good example that psychic income is interchangeable with nominal dollars; otherwise you would not be satisfied with such a low income. I am, however, a bit concerned that you think "being a better person" and "not thinking about yourself first" are the same thing. In a capitalistic society, one has to, by definition, think of themselves first. You aren't coaching those teams only because of the impact you have on those kids, you do it because it makes you feel good. You are acting to maximize your utility. If you happen to generate self-proclaimed positive externalities, more power to you.
Overall, my biggest concern from the comments is that people see business and "money making" as somewhat evil, or immoral. They see a successful career in business as unfulfilling, boring and, dare I say, shameful. It's no wonder people think like this, it seems almost every movie or TV show casts a greedy businessman as the villain. Businessmen are the unsung heroes competing ferociously to make you richer. No company can earn a single dollar unless it produces a good or service that makes its customer better off. Whether you like it or not, businesses are your friend. If you don't like it, you could try socialism, where people are taught to think of others first. That system has worked out great over the years.
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