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You see if you are making the widgets (manufacturing) or cleaning up after the people who are making the widgets you are the lowest paid workers in the company. If you 1) work on Wall Street and loan money to the companies making the widgets you make WAY MORE MONEY. Also if you 2) come up with the concept of the company and 3) design the widget you make way more money too. Also if you 4) have the ad company that help promotes the widget you make a lot of money too. AND EDUCATION IS THE KEY TO JOBS 1, 2, 3 and 4. And a lot of jobs (1, 2, 3 & 4) can be done at home and there are many in the tri-state area as opposed to down south.
News flash: Widget manufacturers typically have , in most 250 employee plants, about 20% of the headcount as white collar professional. That will include 15% of the 250 being college grads, most Masters level. I'd hardly call a CFO, Accounting Manager, VP of Operations, Plant Management, Engineers, Purchasing managers, or Inventory Control managers uneducated.
My present employer has many plants nationally, some in states with a high % of college grads, some in states with a lower %. 95% of the office are under strict work from home orders.
As a CT resident, I couldn't be prouder of our education standards.
As a college professor, I used to teach the products of CT public schools. They were not any better than the students I had when I taught in other states.
The US public education system produces mediocre students. If CT is above average, it’s because the average is mediocre.
You may be right. But I have a PhD and have read countless research papers. The words “studies have shown” are often the equivalent of “somebody has mis-used statistics to try to prove”.
Are you are saying that the US Bureau of Labor Statistics is misusing the statistics in the link I provided? What purpose would that serve? Of course if you have data or information from an unbiased independent source we all would be happy to see it. Please provide it. I’ll be waiting. Jay
https://www.cnbc.com/2018/01/23/the-...s-in-2018.html 10 MOST EDUCATED STATES
1. Massachusetts
2. Maryland
3. Connecticut
4. Vermont
5. Colorado
6. Virginia
7. New Hampshire
8. Minnesota
9. Washington
10. New Jersey
10 LEAST EDUCATED STATES
41. New Mexico
42. Oklahoma
43. Tennessee
44. Nevada
45. Kentucky
46. Alabama
47. Arkansas
48. Louisiana
49. West Virginia
50. Mississippi (least educated)
You see if you are making the widgets (manufacturing) or cleaning up after the people who are making the widgets you are the lowest paid workers in the company. If you 1) work on Wall Street and loan money to the companies making the widgets you make WAY MORE MONEY. Also if you 2) come up with the concept of the company and 3) design the widget you make way more money too. Also if you 4) have the ad company that help promotes the widget you make a lot of money too. AND EDUCATION IS THE KEY TO JOBS 1, 2, 3 and 4. And a lot of jobs (1, 2, 3 & 4) can be done at home and there are many in the tri-state area as opposed to down south.
https://www.cnbc.com/2018/01/23/the-...s-in-2018.html 10 MOST EDUCATED STATES
1. Massachusetts
2. Maryland
3. Connecticut
4. Vermont
5. Colorado
6. Virginia
7. New Hampshire
8. Minnesota
9. Washington
10. New Jersey
10 LEAST EDUCATED STATES
41. New Mexico
42. Oklahoma
43. Tennessee
44. Nevada
45. Kentucky
46. Alabama
47. Arkansas
48. Louisiana
49. West Virginia
50. Mississippi (least educated)
You see if you are making the widgets (manufacturing) or cleaning up after the people who are making the widgets you are the lowest paid workers in the company. If you 1) work on Wall Street and loan money to the companies making the widgets you make WAY MORE MONEY. Also if you 2) come up with the concept of the company and 3) design the widget you make way more money too. Also if you 4) have the ad company that help promotes the widget you make a lot of money too. AND EDUCATION IS THE KEY TO JOBS 1, 2, 3 and 4. And a lot of jobs (1, 2, 3 & 4) can be done at home and there are many in the tri-state area as opposed to down south.
Totally correct. Education is key to any job. I’ll just let Steve Jobs, Paul Allen and Bill gates know to give their money back ( they all dropped out of college by the way). I’ll let Henry Ford know as well, I think he stopped his education at 16.
The list of the four items you listed I agree with. But I still think you are putting much stake in the Education only standard, and that actually surprises me. I’ll reference #2 on your list and use an artist for example. I do not have the free thinker mindset that many artists do. I’m number and linear thinker. I suspect many Wall Street types are the same. They need to free thinker to think outside the box for ideas. With out that free thinker, Wall Street cannot loan money and make money. Many free thinkers do poor in an education setting and they do not go or try in college because they are programmed different. If they come up with an idea, drop out of school, get a backer and start a company. It proves that the education is not key. Are you telling me the person who thought of the business and dropped out of school deserves less because of no education?
I think the list is more of a chain. Every link needs to be there. That is why CT is actually a pretty well off state. We have areas of low education (workers), we have areas of free thinkers, and we have people with money to back them up. Also, management workers (college graduate) to who know rules and can run it correctly. Many other states lack all the links in the chain which is why we are able to hold on to more GDP.
Totally correct. Education is key to any job. I’ll just let Steve Jobs, Paul Allen and Bill gates know to give their money back ( they all dropped out of college by the way). I’ll let Henry Ford know as well, I think he stopped his education at 16.
The list of the four items you listed I agree with. But I still think you are putting much stake in the Education only standard, and that actually surprises me. I’ll reference #2 on your list and use an artist for example. I do not have the free thinker mindset that many artists do. I’m number and linear thinker. I suspect many Wall Street types are the same. They need to free thinker to think outside the box for ideas. With out that free thinker, Wall Street cannot loan money and make money. Many free thinkers do poor in an education setting and they do not go or try in college because they are programmed different. If they come up with an idea, drop out of school, get a backer and start a company. It proves that the education is not key. Are you telling me the person who thought of the business and dropped out of school deserves less because of no education?
I think the list is more of a chain. Every link needs to be there. That is why CT is actually a pretty well off state. We have areas of low education (workers), we have areas of free thinkers, and we have people with money to back them up. Also, management workers (college graduate) to who know rules and can run it correctly. Many other states lack all the links in the chain which is why we are able to hold on to more GDP.
Excellent post, and I'd add Wall St does not loan much money of its own. It acts as a "broker" often to help sell others, whether wealthy individuals or institutions, on lending instruments.
The Wall St employees do make tons, but in terms of what they add to the equation, they are less vital than the corps that actually make things or offer services. The latter's new product offerings are the key to drive an economy. Due to our location, IMO, in this region, we overvalue Wall St by acting as if their wealth is equal to what they add to the equation, and the two are fully unrelated. Doubly troubling is, we also have many corps owned by private equity in Ct, and I do fear for them long-term, as p/e seldom invests in insuring their underlying corps are healthy and building new revenue streams, in ways sustainable for a long-term (as in multi decades) future.
This state features a large % of college grads. Few work on Wall Street. That last fact is a good thing for our economic prospects. I wish more worked for either publicly-traded or privately, non p/e held corporations, though.
Totally correct. Education is key to any job. I’ll just let Steve Jobs, Paul Allen and Bill gates know to give their money back ( they all dropped out of college by the way). I’ll let Henry Ford know as well, I think he stopped his education at 16.
The list of the four items you listed I agree with. But I still think you are putting much stake in the Education only standard, and that actually surprises me. I’ll reference #2 on your list and use an artist for example. I do not have the free thinker mindset that many artists do. I’m number and linear thinker. I suspect many Wall Street types are the same. They need to free thinker to think outside the box for ideas. With out that free thinker, Wall Street cannot loan money and make money. Many free thinkers do poor in an education setting and they do not go or try in college because they are programmed different. If they come up with an idea, drop out of school, get a backer and start a company. It proves that the education is not key. Are you telling me the person who thought of the business and dropped out of school deserves less because of no education?
I think the list is more of a chain. Every link needs to be there. That is why CT is actually a pretty well off state. We have areas of low education (workers), we have areas of free thinkers, and we have people with money to back them up. Also, management workers (college graduate) to who know rules and can run it correctly. Many other states lack all the links in the chain which is why we are able to hold on to more GDP.
There are obviously anecdotal pieces of evidence where people CAN be successful with less education but you can't deny the trend that higher educated workers make more money (especially when so many high paying jobs now require degrees).
There are obviously anecdotal pieces of evidence where people CAN be successful with less education but you can't deny the trend that higher educated workers make more money (especially when so many high paying jobs now require degrees).
Of course they are. The others posters points were the same way. Key, to me, means the end all be all which even through some scenarios show that is not the absolute. I was agree with you on the trend of degrees, I would also caveat with it really depends on degree. You can use a blanket statement for all degrees. The pay will differ greatly between someone with a liberal arts degree in basket weaving compared to a degree in accounting which is always in demand.
Of course if you have a degree in desirable field you can make more money.
It goes back to the posters first statement. Education does not directly equal wealth. Does it have some correlation of course, but other factors are at work as well. Which is why I think CT is actually set up very well. We have a mix of all facets.
News flash: Widget manufacturers typically have , in most 250 employee plants, about 20% of the headcount as white collar professional. That will include 15% of the 250 being college grads, most Masters level. I'd hardly call a CFO, Accounting Manager, VP of Operations, Plant Management, Engineers, Purchasing managers, or Inventory Control managers uneducated.
My present employer has many plants nationally, some in states with a high % of college grads, some in states with a lower %. 95% of the office are under strict work from home orders.
Here is the thing.
1) Whatever the 20% of professional are making in a manufacturing plant the guys on Wall Street who loan the money, the advertisers, the CEO's of the companies are making a LOT more......especially the guys on Wall Street. The Wall Street guys and CEO's are probably making about 100X more than the professionals in the plants
2) Each states manufacturing plants are on a micro-economic level to that state. Think of the guys on Wall Street on a macro-economic level who are loaning out money (selling short etc.) to all 50 states (and the world frankly).
Fortune 500 companies as of December 2019 The Fortune 500: Where are they Headquartered? - THE TENANT ADVISOR
#1 NYC with 71 Fortune 500 companies. A lot of those workers and CEO's live in Fairfield County CT and can work from home. The majority of my friends and family down county (in Stamford, Greenwich, Darien and New Canaan) that work in NYC and Fairfield County are working from home. Don't forget about 1/3 of CT residents live in Fairfield County and have access to NYC jobs.
#2 Chicago 34
#3 Dallas 23
#4 Houston 22
#5 San Francisco 10
To further help you understand you must think in PER CAPITA which it seems very few people on here do.
The NYC area is the biggest economic power house in the country and 1/3 of Connecticut's residents in Fairfield County have access to the powerhouse. This is the reason that CT always comes out on top every year in GDP per capita which is the real measure of wealth.
Now the states above have to ''share the wealth" of the fortune 500 companies with the entire state via taxation of incomes of the people who work there not to mention the disposal income of the employees at all of these Fortune 500 companies that are being pumped into the economy of each state.
Population
Connecticut.......3.5 million ----1 million of that population (or about 1/3) has access to the NYC Fortune 500 companies. Wrap your head around that per capita compared to the populations below, it's astounding.
Illinois..............12.5 million
Texas................29 million
California...........39.5 million
I see some of you noting that I am an artist and a musician and maybe are poo pooing my posts and not taking them seriously. Here is the thing.....before I worked as an artist and musician I studied finance, banking and economics. I was a branch manager of a bank and my last job at that bank was as second command in the mortgage department.
I am a pretty smart artist/musician.
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Jay
