"Wait you'd spend $160k and 4 years of your life just to listen to a bored professor drone in front of a room full of idiots who are generally either absent or hungover?" "Yeah, that does seem odd. Remind me why I did it the first time? Was it much cheaper or shorter? I forget."
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yeah. or 42 taking personal time for prep math courses to eventually do a masters degree 1 class per semester... just because, well... math is cool.
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All I got out of my maths degree is one really cool story about computational complexity theory
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Opportunity costs and marginal benefits. The marginal benefit of a degree when you have nothing is very large; when you have lots of proven industry experience, very low. Opportunity costs for young people are small. For already successful people, enormous.
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This is why I went straight into a postgrad program while still comfortable on a student budget. I knew it would be harder to go back to university if I had an established career. It’s more new transferable skills and less debt (on scholarship/stipend) than re-doing undergrad.
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One could tell a “diminishing returns” story to make sense of this strange fact. Alas it’s not the real reason.
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Signal value doesn’t stack.
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A friend of mine did two years at Stanford under some program which wasn’t degree granting and his classmates couldn’t understand why he’d come “just” to learn.
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A large portion of the value received from education is related to Signaling rather than to the material learned. GMU’s Kaplan has a book on the topic, reviewed herehttps://quillette.com/2018/06/03/bryan-caplans-case-education-review/ …
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Beyond this truth, there's another one: The most important thing you learn in a university is not specific material (most of which you won't remember in 10 years), but how to think, how to work, and how to learn. You don't need to learn those things twice.
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