Does plumber friend have vacation leave, sick time, matching 401k, health insurance, pension?
Im by no means an expert on the issue but appears to me that the cost of college has risen exponentially partly because the reward for a college degree has also risen exponentially.
The plumbers at my husband's firm do. Defined Benefit Pensions with COLAs. They all make good money and can easily boost their income with side jobs whenever they want. They also get ev-ery holiday and shitloads of vacation pay that they can accrue endlessly, plus generous sick time, which they can also accrue and add to their service years when they retire.
My nephew was building things from the time he was a toddler. He went to a Community College program for contracting. Graduated with no debt. Makes a great living now. He's 30, owns his own home, and is well on his way to Millionaire Next Door status.
yeah, looking at some plumbing job openings it appears that many/maybe most have very good benefits.
The goal for any trade should be either 1. Get in a union and collect a fat paycheck, pension, health care. 2. Gain experience and pickup side work. Then start your own company and make an even fatter paycheck and pay for your own health insurance.
In IL, almost every person in a trade union makes $100k+ after the apprenticeship period, very good health insurance, and a cushy pension. Source: My dad, uncles, and brother.
My dad was a pipefitter in Chicagoland (local 597) for 42 years (1969-2011). He did have good health insurance, but part of the reason for that is because it's a dangerous job. He did not get any employer contributions to his pension. Contributions to the pension were deducted from his paycheck. He never got any sick time or vacation time. If he didn't work, he didn't get paid.
I've taught college full-time for the past 11 years and another 4 years part-time at both the community college and 4-year University. I agree that not everyone should go to college. Approximately 70% of high school graduates attend college. About 55% of them finish with a 4-year degree within 6 years. However, no all of them are seeking a 4-year degree. Some are seeking a 2-year degree.
My community college offers 6 different 4-year degrees. We also offer programs in the trades. The cost per credit hour is the same for an automotive class or a Psychology 101 class.
The automotive program partners with a local dealership so there are no extra lab fees.
The welding program doesn't have any parternships. There is a one-time lab fee of $11,000 to get into the program.
My dad's side of the family were mostly union construction workers. While their paycheck might have been high, their benefits were not great. See my my dad's summary of benefits above. The didn't really have the educational knowledge to grow their paycheck. They bought a house and lived paycheck to paycheck. They often work overtime to make ends meet. They live a hard life.
I have a Ph.D. and teach community college. I work 1,000 hours/year at my W-2. I work another 200 hours/year managing my 3 rental properties (4 doors). I probably make less money per year, but my quality of life is much higher and my net worth is probably 5-10x of my construction working peers back in IL.
For me personally, if I didn't go to college, my W-2 paycheck would be a little higher and I would have a much lower quality of life.