The discussion needs more dimensionality :
D1 :
does a profession pay well?
- economics : will there be a constant demand for this profession? or reduced demand? or increasing demand?
- economics : will there be a constant supply of professionals? or reduced supply? or increasing supply?
- only with that, can you forecast the future earnings of this profession
D2 :
does a profession pay within a narrow range, or a wide range?
- economics : narrow : then one doesn't need to be too worried, as long as one can get into the profession : consider [ commissioner of oaths ]
- economics : wide : then it depends on one's expectations within the range ... consider, in Malaysia, 40yo doctor pay is 10k to 100k depending on [ quality of planning and execution ]
D3 :
does getting into a profession, and competing within the profession, depend a lot or a little on cert?
- economics : do your professional earnings change, if your grades are poor or good in college?
- economics : do your professional earnings change, if your cert-institution is different?
D4 :
what are the other benefits of attending an institution, besides impact on professional qualifications, and professional earnings?
- economics : learning, fun, social networking ( arguably the largest predictor of future earning )
D5 : what are the opportunity costs of attending any institution, or entering any profession?
- economics : is the degree expensive, or free of charge? are there other professions which doesn't require degrees?
etc.
This is the MINIMUM discussion to be had with ( twelve-year-olds ), as they already have to start aiming for what happens ( by the time they are seventeen ).
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