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Building your lifetime degree ROI
May 31, 2023
US News & World Report has recently changed its methodology for school rankings. As part of that change, they have increased their focus on short term ROI and reduced their focus on reputation metrics.
For business schools, as an example, this change means that 50% (up from 35%) of a school’s ranking is now based on:
employment rate within 3 months of graduation (30%) and mean starting salary and bonus (20%).
This change is clearly in line with students who prioritize generating a strong financial return from their education. In difficult economic times, strong financial returns are clearly important. However at <UNIVERSITY NAME>, we have given ourselves an even larger mandate: to grow the lifetime ROI of your degree, not just your ROI at graduation.
Georgetown University has done some valuable research in this area showing that short term ROI for undergraduates often differs significantly from 40-year ROI – representing its value over an entire career.
While we will continue to focus on finding great opportunities for students at graduation, we are committed to supporting your growth and development well beyond that milestone.
Insights for Lifetime ROI
Developing your long term career requires ongoing work. Last fall, Gartner reported survey results from 3,300 employees showing that only 1 in 3 felt that they could see a path for their career over the next 5 years. Additionally only 50% of respondents felt that their managers would give them feedback based on where they want to go for their next role. That requires each of us to become more proactive and intentional about driving our futures.
Forbes reminds us not to wait for opportunities to become available, but to create them for ourselves. We can create our own futures when we identify problems that need to be fixed and put ourselves out there to fix them.
Additionally, it can be very valuable to think of your career as a number of short term steps vs. one long term plan. CNBC recounted a story from Tim Cook, CEO of Apple, who was asked to build a 25-year career plan while at school.
“I would say it was reasonably accurate for all of 18 to 24 months,” Cook said. “There was nothing, a single thing on it, that was accurate post that. Not a single thing.”
None of us can predict the future: Covid-19, AI, geopolitical conflicts and other unknowable activities will always require us to be adaptable and ready to make changes to drive our futures. Building up our experience to identify and consider options for "What's next?" is a skill that allows us to pivot and still grow when circumstances change.
Our Commitment to your Lifetime ROI
One of the reasons we have partnered with Whomi, the self-guided platform for career development, is to help you learn how to become proactive and intentional about your career future. Whomi’s tools can help you to define your options, target your resumes, and engage your network to figure out “What’s Next” at each step of your career.
We believe in your potential and want to see you achieve it. Whether you love your job, hate your job, or don’t have a job, I encourage you to start planning for what’s next by signing up for Whomi and building your own career development plan for free.
<UNIVERSITY SPECIFIC CONCLUSION>
For business schools, as an example, this change means that 50% (up from 35%) of a school’s ranking is now based on:
employment rate within 3 months of graduation (30%) and mean starting salary and bonus (20%).
This change is clearly in line with students who prioritize generating a strong financial return from their education. In difficult economic times, strong financial returns are clearly important. However at <UNIVERSITY NAME>, we have given ourselves an even larger mandate: to grow the lifetime ROI of your degree, not just your ROI at graduation.
Georgetown University has done some valuable research in this area showing that short term ROI for undergraduates often differs significantly from 40-year ROI – representing its value over an entire career.
While we will continue to focus on finding great opportunities for students at graduation, we are committed to supporting your growth and development well beyond that milestone.
Insights for Lifetime ROI
Developing your long term career requires ongoing work. Last fall, Gartner reported survey results from 3,300 employees showing that only 1 in 3 felt that they could see a path for their career over the next 5 years. Additionally only 50% of respondents felt that their managers would give them feedback based on where they want to go for their next role. That requires each of us to become more proactive and intentional about driving our futures.
Forbes reminds us not to wait for opportunities to become available, but to create them for ourselves. We can create our own futures when we identify problems that need to be fixed and put ourselves out there to fix them.
Additionally, it can be very valuable to think of your career as a number of short term steps vs. one long term plan. CNBC recounted a story from Tim Cook, CEO of Apple, who was asked to build a 25-year career plan while at school.
“I would say it was reasonably accurate for all of 18 to 24 months,” Cook said. “There was nothing, a single thing on it, that was accurate post that. Not a single thing.”
None of us can predict the future: Covid-19, AI, geopolitical conflicts and other unknowable activities will always require us to be adaptable and ready to make changes to drive our futures. Building up our experience to identify and consider options for "What's next?" is a skill that allows us to pivot and still grow when circumstances change.
Our Commitment to your Lifetime ROI
One of the reasons we have partnered with Whomi, the self-guided platform for career development, is to help you learn how to become proactive and intentional about your career future. Whomi’s tools can help you to define your options, target your resumes, and engage your network to figure out “What’s Next” at each step of your career.
We believe in your potential and want to see you achieve it. Whether you love your job, hate your job, or don’t have a job, I encourage you to start planning for what’s next by signing up for Whomi and building your own career development plan for free.
<UNIVERSITY SPECIFIC CONCLUSION>
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