4 2 mins 10 yrs

I think one of the most cruel tricks played on young people by politicians and educationalists is to lure so many of them into Tertiary Education on the promise that once they get that University Degree employers will be queuing up to pay them so much more than those who do not have such a qualification.

The cost of living has outpaced typical graduate wages so much that salaries are expected to fall this year to their lowest level in real terms since 2003, the report from Incomes Data Services (IDS) reveals. The typical pay rate for entry-level graduate roles will be frozen at £25,000 this year compared to 2011. But when adjusted to account for high inflation, graduates face a 2pc pay cut, from £19,020 last year to £18,705 this year, IDS said. The last time salaries were lower than this year’s forecast was nine years ago, when they stood at £18,524. Over the past decade, graduate pay hit a peak of £20,601 in 2008, the report showed.

Yes, and this is based on AVERAGE graduate wages. An uglier reality is somewhat hidden because of the relatively higher income young doctors, engineers, scientists, chemists etc can command. However the average ARTS graduate, or perhaps some poor sap with that vital MEDIA STUDIES degree, will be lucky to get much more than the minimum wage.  We have too many students, not enough jobs. That means salaries DROP. Simple. Worse still, we have too few graduates in essential disciplines and an excess in frivolous disciplines.

It’s a mess and the biggest losers are those young people coming out of University clutching a relatively worthless degree in one hand and a massive debt in the other. I blame the politicians and the educationalists for betraying this generation.

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4 thoughts on “THE IRON LAW OF SUPPLY AND DEMAND

  1. The Iron Law of Supply and Demand works. One has to ask why supposedly intelligent youngsters should choose to study for a Media Studies degree rather than study Medicine, Engineering, Mathematics, Chemistry and so on. Like you, I blame the educ ationalists and politicians but also the students too.

  2. Peter T – I do agree. But the educationalista’s must take quite a lot of responsibility though, since they thoroughly indoctrinate the kiddies with their idealistic left wing views. Pro Greenie, Pro Left wing claptrap, Nanny state will always be looking after you etc. It was rare to find a teacher who wasn’t a 2cv driving , CNd, No Nuke Power, card carrying ‘com symp’. Look where a few generations of that clap trap has led us.

  3. ‘ I blame the politicians and the educationalists for betraying this generation.’

    Betrayal? – just this generation? – if you had said ‘every working class man and woman, since the late 1950’s’, it might be nearer the truth!

    It is so easy, on looking back to see just when the seeds of destruction were sown.

    I offer the following, by no means comprehensive list of incompetents, each and every one of whom put petty party politics before country.

    ‘Harold Macmilan. Prime Minister – 1957- 1963.

    The UK applied to join the European Economic Community for the first time, the application split the Conservatives and was vetoed by Charles de Gaulle; acceptance of Keynesianism; Rent Act 1957; Wind of Change speech; Notting Hill race riots and New Commonwealth immigration; beginning of Beeching Axe; Night of the Long Knives; Cuban missile crisis; Profumo Affair.’

    And that was just the beginning, one nincompoop being followed by another, – thru Wilson, Heath, Major et al, and reaching the peak of delusional egocentric stupidity with Blair cum Brown, – and no! – I’m not forgetting Thatcher, who only governed when she was allowed to, which, in hindsight, might well have been a good thing. Just think of the damage she could have caused if given a free rein? Wasn’t it she who encouraged the sale of vital infrastructure such as the provision of power and water supply, and various other ‘jewels’?

    Each and every one hindered, provoked or harrassed by ‘The Unions’, properly described as ‘the enenmy within’, continuing to fight a class war that had ended in the ‘thirties’, and so narrow-minded that they couldn’t accept that ‘the working class’ was a far larger entity than their typical membership would suggest.

    However, in today’s Telegraph there is a piece on a poll conducted by the National Army Museum, as to who has proven to be our historical ‘worst enemy’. The list included the likes of Washington, Napoleon and a few others, but the winner – by a long chalk turns out to be Ted Heath! – now who would have thought that?

    http://tgr.ph/HKuQpK

    “A man who broke the close alliance between Britain and those Commonwealth countries whose troops had fought and died for the mother country only 30 years previously, by destroying their trade. Who destroyed Britain’s merchant navy. Who brought the island under the rule of foreign courts, and ended “a thousand years of history” by willingly surrendering Britain’s sovereignty to an alien, undemocratic institution. A man who willingly lied and lied again to conceal the true intentions and aims of the foreign power he was working for, all the time saying it was “completely unjustified” that we would “sacrifice independence and sovereignty” by following his lead.”

    I know this comment is not quite ‘on topic’, but still relevant enough…

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