Why Finish College?
When I dropped out of college the first time, everyone asked if I would be going back. "Definitely not," I remember telling a friend of my then-girlfriend. It was the heady dot-com days and college degrees were archaic relics of an outdated superstructure.
When I dropped out the second time, everyone asked if I was out for good. "I may return. It’s not something I can rule out," I told the Detroit Free Press.
Now that I’m back in school and my new business is doing well, the question I keep getting is "Why don’t you drop out?"
rrrrrrgh…
For the guy or girl with entrepreneurship in their blood, Intro to Oceans can be less compelling than Intro to Salesforce.com. But my return to college has taught me several important things about why it was the right move.
1.) A college degree is a necessary prerequisite to certain positions in society. If you ever aspire to leverage your success in business into a more public-facing role, i.e. a White House Fellow or a World Bank consultant, you will need a college degree.
2.) It’s a perception thing. My friend Ben (named changed), after having built a wildly successful IT consultancy, was courted to join a large technology company as VP of IT. He held off on accepting their offer until it became truly too good to refuse. But when the other VPs found out that he was not only making way more money than all of them, but also the only one lacking a college degree, a mutiny ensued and Ben had to leave. Weird, but true.
3.) It is humbling to learn. Young entrepreneurs tend to have egos, and there is no better remedy for a swollen ego than a spanking on your midterm. More significantly, your professers are experts in realms of engineering, sciences, humanities and the arts, and if you spend some time with them, you’ll learn about people and places to which business will never expose you.
4.) It gives you choice. Learning to learn is about learning to live with choices. The thought process with which a typical college student become endowed is one that encourages an exploratory and interested world view. You will begin to consider the liberal and the conservative, the safe and the risky, the yin and the yang. A good business person can take all sides of an argument under consideration before making the right decision.
5.) Perhaps most importantly, college is a time to learn from your peers. In the "real world", it is rare that you have the opportunity to engage in conversations about international trade balances and indentured servitude in pre-colonial America, all in the same afternoon. Being able to discuss such matters with your peers is a truly priceless experience.
Entrepreneurs indulge in the day-to-day wonders of the world. College is all about learning how and where to find these wonders. Stick with it and you’ll appreciate it in the long-run.
I’m curious what other college grads-cum-entrepreneurs have experienced. Was staying in college the right choice, or could you have done without your degree?
November 11th, 2005 at 3:53 pm
Hey Jonathan,
I know you asked for feedback from "other college grads-cum-entrepreneurs," but I’m going to throw in my two cents anyway, as one who chose to pursue an entrepreneurial life without completing a degree.
You said…
[i]Now that I’m back in school and my new business is doing well, the question I keep getting is "Why don’t you drop out?"[/i]
I think that this is a slightly wrong and misleading question.
I think the right question is, looking at your whole life, are you pursuing what is most valuable to you, right now, all things considered?
People tend to focus on the negative–on what they are not doing (i.e., "dropping out of college"), rather than on what they *are* doing (throwing themselves 100% into running a business, or any other pursuit of value).
You’ve done a good job of listing some real values you’ll get from going to school.
The question is, when you look at the long-term picture of your life, is pursuing these values you’ll get from school right now more valuable than pursuing some other course of action right now?
Realize that you could just as easily say that you are "dropping out of throwing yourself 100% into a business adventure" by holding on to the comfort of school. But again, that’d be the wrong (negative) way to look at it.
So look at the real long-term values that you’ll get if you continue with college and run the business part time, and also what you’d get out of focusing entirely on your business right now. And consider what is important to you.
Life isn’t about doing what other people expect; it’s about getting the most out of it you can. And only you know what values are most important to you.
Other people have gotten a lot out of pursuing both paths. But consider yourself, here. Are you going to be joining the management of a large IT company? What lessons do *you* need to learn? What experiences do *you* need to have?
If you make a decision based purely on considering what actions, at this point in your life, will give *you* the most positive value, I predict that you’ll be happy with whatever course you choose, and you’ll never second-guess it or regret it. At lest, that’s the way it’s worked for me.
Chad
November 11th, 2005 at 11:59 pm
Wow Chad, I love the response. I’m going to have to read that a couple times to really get a deep feeling for it, more so than when I frist read it. Jonathan, I agree with a lot of the things you are seeing but when you left to persue your business goals, what where you expecting? Did you run into any trouble, was it worth it, did you feel that at times it could not be done? You see, chad says to take the path that is most important to you at the time. Well, when you decided to persue your interests with business isn’t that what you were doing? Thinking of devoting 100% of your time to business? So then my question to you would be, Is the degree going to serve as a status quo?
Respectfully,
Tony Tovar
November 13th, 2005 at 2:32 pm
Chad,
You bring up some great points and I think your comment should be required reading for anyone who is considering dropping out.
One thing I’ve learned is that your decisions about what is best for you at the time may not be the best long-term decision. But it is funny how you identify that as an issue.
My return to college was as much needs-driven as it was forward-looking. I needed to decompress from the four years at my last company, and I couldn’t think of a better way to do it than some History classes.
Now in retrospect, I can look back and say that my intuition was right. None of these points were going through my head when I first enrolled, but I’ve come to appreciate all of them.
It’s hard to know where life is going to take us, and every good entrepreneur should have some risk-mitigation strategies. If nothing else, college is certainly that.
Thanks again for your comment (and your help in LA!)
November 16th, 2005 at 12:11 am
I think going back to school is a very good thing:)
I have three very young children, and I wanted to go back, so I did:)
Anna
November 18th, 2005 at 12:57 pm
Anna, I agree with you and am delighted to hear you are back into school.
November 21st, 2005 at 8:04 am
I have always found this topic to be very interesting. Having built one successful company and now in the process of building another, I have often wondered if I should have finished my degree. There was a time when having a degree mattered as far as getting a job (Just Over Broke) was concerned. However, rather then getting a job I now choose to create them.
A college degree is mainly for someone seeking specialized knowledge. My wife (who happens to be and MD) would be the first to tell you that specialized knowledge can only get you so far. As an entrepreneur, I would say there have been some advantages to "[i]knowing alot about a little rather then a little about alot." [/i]
In spite of my knowledge about all of this, I will probably one day return and finish my degree. I won’t do it for specialized knowledge or a job, I will do it for my kids and myself. I missed the opportunity to walk across the stage and receive my degree and I would like to know what that feels like.
Great topic…
David
November 21st, 2005 at 1:33 pm
Dear Jonathan,
I think you found out something that I have learned: a college degree is like a garage door opener. You can get into some places a lot easier with it than without it.
Many people don’t realize the trouble one can have without a degree. It is basically a legal form of discrimination, to exclude those who don’t have one. Compare the ability of someone to get a loan, buy a house, or a car, or start up a business. Those with a degree will find it a lot easier. Note that is not easy with a degree, but you don’t have to overcome any assumptions about your abilities when you have one.
Why is there such a prejudice against non-degree holders? Indeed, we who are mere high school graduates are labeled "uneducated", as if the first twelve years of schooling count for nothing! My answer comes from my association with men and women in 20 years of blue collar work. This includes a short 6 months working in an office environment, and 4 years as an enlisted man in the military.
Basically, the non-college graduate is like a "C" average student. He or she will do the minimum to get by, then stop. A manager must go through a lot of contortions and incentives to get the most out of anyone in a blue collar/pink collar job. Never mind that everyone will claim that he/she is giving 110% effort. The above average performer in many of these situations will be ostracized. His/her collegues will spread rumors, or sabotage his/her personal belongings, until he/she quits or conforms to the average. The only ones that rise above the fray are those with excellent people skills. These men and women usually get the leadership positions they deserve. It should be noted, however, that people skills and socialization are not necessarily tied into a strong work ethic. I challenge you to name the chief of police of any city, who either wrote the most traffic tickets or collared the most criminals.
So, sure, Bill Gates and Tiger Woods made it big, without graduating from college. This is true. You must also consider two things: every rule will have exceptions, and some people will be in an excellent position to take advantage of their natural abilities. Bill Gates may have dropped out of Harvard, but his ability to get into Harvard was a reflection of his intelligence and work ethic. He also made some important connections with fellow Harvard students (roommates?) who helped him start up Microsoft. Tiger Woods was already an established golfer when he entered Stanford, and could have wrote his own meal ticket with or without college, as most pro athletes can.
As for the rest of us, you can go ahead and try to prove your point (as I did) that you can make it without college, or you can get it over with early, and make the most of your abilities. It is always harder to get through college as you get older, but once you are done with it, you won’t stub your toe trying to kick the doors open. You’ll have that magic "garage door opener"!
Bob A.
Detroit
December 24th, 2005 at 10:07 pm
I just want to say this discussion has been a great read for me as a college student who has changed his major 5 times. This is my 4th year in school and I have no clue what exactly I want to do. This indecision prompted me to stop attending; I wanted to do things my way. It’s because of this foolish pride and arrogance, I have been dismissed from school due to grades. I can only reapply after one semester. I see the pros and cons of not having a degree. And am well aware of the general perception of non-degere holders. I especially like what Bob said about finishing your degree early and then you can chase your endeavors with greater susceptibility for success. I plan on going to community college and later finishing up at the 4yr institution I started in. Great discussion!!!
December 29th, 2005 at 5:11 pm
Hello, Everyone, and Happy 2006 to You!
I’ve enjoyed this discussion and wanted to give you a perspective from a "Pink Collar" worker who stayed away from college for several reasons.
I generally disliked school even though I achieved distinguished honor status and graduated from high school 12th in my class. (And, yes, there were more than 12 people in my class!)
I chose the Business Curriculum during my High School years and landed an excellent stenographer position with the Federal Government immediately upon graduating. (At age 18, I started my government career making two pay levels [i]higher[/i] than college graduates working in the same area! Impressive, right?)
One position led to another and yet another until I’d reached the highest pay level possible for someone with so little tenure. (I started as a GS-4 and ended as a GS-11 and did it in less than 5 years! I hope you’re still impressed! I know I am! This next part is where it gets really interesting.)
I left that great-paying government position with all the good benefits when I was 23 years old because I saw my college grad coworkers getting stuck in a job that would most likely stay the same. I took my ideals and a pay cut (by half) and went into private industry where I continued gaining valuable experience and enjoyed my work immensely.
Eventually I became an entrepreneur and helped create a successful business as a co-owner. Upon divorcing my partner 20 years later, I sold my half of the business (to him) and went out on my own again working for other people.
I’m 48 years old now and I can tell you from everything I’ve experienced being in business for myself and also from working for others that NOW I wish I had a college degree. (Yes, it took me that long to figure it out and I don’t know where I would have fit it in! But that’s okay…I had to do it my way.)
Those who have written comments before me are very accurate in their descriptions of what a college degree will do for you. Doors will open a bit easier for you, especially when you’re older. If you’re having doubts, I suggest you just stick with it. There may never be an easier time for you to complete your college education than right now. When you get to be my age, you’ll be very glad you did!
I don’t actually regret my experiences so far. It might have been easier if I had gone to college. It would definitely have been a different life. But I still have a lot of life yet to live. And who knows….Maybe I’ll be the "old" woman sitting behind you in your next English class. (Don’t worry, that probably will not happen because, to tell you the truth, I still don’t like school!)
You see, I [i]knew[/i] in 8th grade that I didn’t want to go to college. Having doubts is not the same thing. I did what was right for me and have experienced a different life because of my choice not to attend college. Every minute of every day I choose what I experience.
May your choices, whatever they may be, bring you peace and plenty in these very interesting times.
Brenda
April 14th, 2006 at 4:17 pm
Wow. After an hour of searching the Internet for such a discussion (I’m no techno-wiz) and almost falling asleep, I can’t tell you how glad I am to have come across this site. Basically, I’m struggling–BIG TIME! HELP!!!
Don’t get me wrong, I absolutely LOVE to learn and experience new things. BUT…I have never liked school, and as a result, have moved around every two years or so since I was in the 4th grade. I would beg my parents to put me somewhere else citing reasons that had to do with the particular school, (not my distaste for the entire structure of academia).
I have tried my darndest to make it as interesting as possible, too! I randomly attended a school for the deaf for the 5th and 6th grades, I spent two years at small alternative high school at which I "benevolently" took on the role of principal, spending my time keeping it open instead of attending classes–at the teachers’ requests, no less! I started college in CANADA to see what that would be like. Still bored, bored bored.
Besides this, I have always done really well in school, which I can accredit to two things: one, that for some reason I seem to be naturally book smart (i.e. I’m good at sucking up to teachers). And two, this extremely annoying desire to please my parents, my mother with her Masters in Social Work and my dad, an M.D.
I am 21 and just transferred to yet another University, thus extending my degree yet another year or so, I presume. Bob A. said that getting your degree gets harder as you get older. Well, I don’t see how it could possibly get any harder than this.
I took a year off before starting college. Still have no idea what I want to do. Really, too many things interest me. I can see myself in a successful, high-paying, interesting career, but have no idea how to connect the dots from where I am now to that point. I just don’t see myself with the patience to finish my undergraduate degree. And beleive me, I know the hypothetical benefits to my future financial and social statuses were I to have a degree.
I have considered dropping out countless times. Sort of not an option considering it would make me feel like a disappointment in my parents’ eyes for the rest of my life, probably! I have considered getting my degree in ANYTHING that would let me graduate most quickly– but I know that I would despise school even more if I were to put myself in that kind of situation. I have taken 72, yes 72 credits of 100-level classes trying to find something that interests me ENOUGH to study for more than one or two semesters. No luck.
Final bit of information here is that my parents are supporting me almost 100 as long as I am in school. That 100 would turn to about 5 if I quit. But in this case, money almost equals misery, if that makes any sense.
I need anyone and everyone’s advice here! Advice of any kind. Do I quit and go back in a year? Do I move to Mexico and work at a bar on the beach until I get an epiphany as to what I want to do with my life?! Haha. I probably have another 60 years to live, but man, I really don’t want the next 3 or so to be this hard. HELP!!
April 15th, 2006 at 12:29 am
Sarah S.,
I am the owner of an executive search firm. We help companies find the perfect employees. I will tell you this bit of information that a potential employer will never tell you. If you do not have a degree the ONLY way to get their attention is to have 2X the amount of years experience in a specific field or industry than it would take to get a degree in that field or industry.
So, basicly if you are applying for a job that wants you to have a 4 year degree, you will need to have at least 8 years of hands on experience in that field or industry. I know that sounds kind of discriminary, but that is generally the truth.
I would recommend staying in school, sticking it out and getting that peice of paper saying that you DO know how to do something. I do understand how you feel though. I was in a similar situation as you at once. However, I did not continue on with college. Instead I started my own company. It has been successful, but it has not been easy. Knowing what I know now about the hiring processes and preferrences of Hiring managers,if I were in the market for a new job I would without out a doubt be going back to school. I hope that this helps. Good luck and Best Wishes in whatever you decide to do.