Who Needs A Job When You Have A Private School Degree?
If you’re wealthy enough to attend a private school, chances are you might not need to work a traditional job. You could either live off your family’s wealth or possibly work within the family business. Private school education isn’t cheap; it costs around $220,000 for four years, just for tuition. This steep price tag doesn’t shock many anymore due to the increasing number of applications private institutions like Harvard, Yale, and Princeton receive each year.
In the current job market, about 17% of young adults aged 20 to 24 are unemployed, making job hunting post-graduation feel daunting. For someone who’s spent $200,000 on their education, not finding a job might seem disastrous, but let’s look at it from a different angle.
Take Jimmy, a recent graduate from Columbia with a degree in European History. Unable to secure a summer internship, he chose instead to travel across Europe with friends, turning his lack of immediate employment into an enriching life experience. His parents, who are quite wealthy, funded his education and travel, relieving him of financial pressures.
Despite his academic achievements, including a cum laude honor, Jimmy faces the real world without a job offer. However, he’s not worried. His parents’ wealth ensures that he doesn’t need to work, mirroring his mother’s lifestyle. His trust fund alone could support him indefinitely.
Contrast Jimmy’s situation with Allison, who worked her way through Columbia. Facing over $100,000 in student loans and no job offers, she starts waiting tables. Yet, Allison isn’t looking for sympathy. She chose this path, investing heavily in her education, believing it would eventually pay off, even if she has to struggle in the short term.
Then there’s Sandeep, another Columbia grad who, despite his impressive academic and extracurricular achievements, also can’t find a job. Like Jimmy, he isn’t too concerned because his education was fully funded by scholarships. He sees this time as an opportunity to explore other passions or even take a break, knowing his degree holds value.
Students from private schools often feel that starting at the bottom of a corporate ladder isn’t for them. They’ve been conditioned to see themselves as already a step ahead, due to their backgrounds and education. This perspective isn’t surprising, given the circles they typically move in.
Moreover, tuition prices remain high because the market sustains it—people believe the education is worth the cost. If it weren’t, prices would adjust. Those who complain about tuition costs often are those who find it out of reach but believe it’s what their children deserve, regardless of financial feasibility.
So, while the debate continues about whether private education is worth the cost, those like Jimmy and Allison make choices that align with their circumstances and future aspirations. Each path offers different challenges and rewards, heavily influenced by one’s financial situation and personal ambitions.
