The True Cost of College

I came across this old article from Businessweek about student loan debt, and started to think through a few things as a result. According to the article, the average college grad is 33 before their net earnings catch up to counterparts who never went to college. And get this: this data is for public university grads –– meaning the age is older for those of us “lucky” enough to go to private institutions.

Without going off on too much of a rant, this is all the more reason to understand what you want to do with your life while you’re still in college. If the statistics hold true, the average student changes their major nearly three times before they graduate college. In some cases, this results in more time than the standard 4 years at school…which means more money being spent staying IN school. Which basically means you’re likely be nearly 40 by the time you pay off all your debt. And this doesn’t even include graduate schools for professions like law or medicine (speaking of which, over 50% of general medical practitioners say they wouldn’t be doctors if they had to do it all over again).

Consider this: Paul Allen, co-founder of Microsoft, dropped out of Washington State College after only two years. Michael Dell, founder of Dell Computers, never finished at the University of Texas. Barry Diller, CEO of IAC Interactive, dropped out of UCLA after only 3 weeks. And the list goes on and on with the likes of Mark Zuckerberg (Facebook), Bill Gates (Microsoft), and Steve Jobs (Apple).

…It strikes me that a lot of people who drop out of college early and go on to have wildly successful careers seem to be the ones that knew what they wanted to do and just went after it. So aside from saving a bunch of money, they saved a bunch of time and were able to hone in on what they were interested in much earlier than most of us.

Maybe all those dropouts were onto something…

Looking for a part-time job? Create one.

Here’s a funny (although not intended to be) article on part-time jobs one can do to make ends meet in this economy. I guess I found the slide show to be funny because it “assumes” people can just go out and become a fashion designer. Yes…a fashion designer. Isaac Mizrahi, watch your back.

Be sharp, not desperate for a job

Part of what we do at Hobnob is help students identify internship positions that are the best fits for them. As a result, we’re exposed to the challenges and frustrations that students deal with through our campus chapters.

And you know what? I’ve noticed something.

With the state of the economy not exactly rosy at the moment, it’s sending students into a flurry of activity…which is not exactly good in this case. Why? The flurry of activity is students applying to every internship opportunity that seems remotely viable, irrespective of their qualifications, interests, or talents.

Now, I can’t exactly blame the students –– after all, the prospect of landing a job are extremely hard in this environment. But this is precisely why I’d argue for the case that students, more than ever, must figure out ways to become “sharp.”

Sharp is understanding your strengths and how to leverage them. Sharp is knowing your weaknesses, and finding ways to minimize them without pretending they don’t exist. Sharp is articulating what makes you different than anyone else. Sharp is the opposite of being well-rounded. At the end of the day, being sharp means knowing what you are looking for and seeking opportunities that align best with what you bring to the table.

If you’re a student trying to find an opportunity, I have just two words for you: Be Sharp. You’ll gain better traction with the focus that comes from knowing what you want. It’s not to say you don’t have to apply to a lot of positions –– I’m not disputing the fact that this environment is challenging and you might have to be more patient than ever in this job market. What I AM saying is that you will have a greater chance of being noticed through the noise if you find a way of differentiating yourself. And that usually means figuring out what makes you unique…and what makes you different.

In this climate where there is an “abundance” of talent looking to get plugged into careers, it’s easier to be remembered for being unique in a sea of sameness.

Process is unsexy, but necessary

How often do we go to events that energize and motivate us to change? I think all of us do that on a regular basis. Think of that corporate leadership conference your company sent you to. Or that science camp your parents paid for during the summer. Or church on Sundays. Yes…church.

These things are great catalysts to encourage and motivate us to get off our butts. They inspire us with great speakers, leaders we look up to, and the buzz of excitement that fills the halls as scores of others just like you mingle and chat at these events.

But all of that doesn’t come back home with you. Those great speakers don’t push you during those mornings you wake up tired and defeated. That air of excitement doesn’t fill the halls of your school or workplace on a daily basis. In other words, events are great catalysts during a single moment of your life. But that’s it.

What happens during the other 364 days of your year?

The only thing that ever creates true life change is what you do during those times you’re not at events. In other words, it’s the process you go through to apply the lessons learned into what you actually do. Otherwise, all the great stuff you heard at that last event is just knowledge…knowledge that goes unused.

So why am I talking about this? One of the biggest things I see time and again are people who are unwilling to go through the process in order to find something they truly love for a career. They’d rather experience events –– that networking event for engineers, or a case competition at the business school, or an internship –– during a single moment of their lives and hope that it translates to some progress towards finding their dream career.

Unfortunately, it isn’t as easy as just showing up for events. Don’t get me wrong, they do help.

But after nearly a decade of working within the HR/recruiting space and working with people through Hobnob, I’ve become convinced that the BIGGEST thing that separates those who find their dream careers and those who don’t are the ones who understand the process that’s required to get there. (when’s the last time you saw a professional athlete go from nobody to superstar with no training, elite competition to play with, and strong support structure?)

Yes, the day-to-day grind is unsexy at times. No one ever really likes to wait patiently while doing things that on the surface seem mundane and routine. But you know what? It’s what matters most if you’re serious about finding work you love.

Why Blackberry Needs Android

I came across an interesting post the other day about how loyal Blackberry users are to their platform relative to iPhone and Android users. The underlying subtext to the loyalty issue for Blackberry is that users are getting restless with the platform as a whole.

While I always take these research studies with a grain of salt, I do find myself relating to the general consensus of what’s being said here. I went from a Blackberry device to an Android device recently, and have no intention of turning back anytime soon. While Blackberry has some great features (keyboard, email), it’s beginning to look sorely outdated compared to the newer crop of smartphones on the market.

For me, it basically boiled down to the combination of OS and hardware choices. Apple and Google (along with hardware partners such as HTC) have been updating their platforms at a furious pace, and the final products we see reflect how many smartphone users are evolving in their use of mobile devices. Blackberry…well, frankly their models haven’t really changed much except for the addition of an optical trackpad here, 3g capability there.

For me it’s simple –– RIM will never be able to keep up with the onslaught of software/hardware that Apple and Google have created with their own respective ecosystems. Apple and Google have attacked the market in two very different ways, and RIM finds itself caught right smack in the middle. That’s the worst place it can find itself. Just look at Palm and see how well that’s turned out for them.

My thought? If RIM wants any shot of staying relevant, they should figure out a way to adopt the Android platform for their devices. Yes, they enter a crowded market with other handset manufacturers like HTC and Motorola who support Android. But, like those other companies, the Android platform does not have to be the sole platform for all Blackberry devices –– it can merely be an alternative to Blackberry loyalists who are looking for a mobile platform that fits their everyday needs better.

If RIM were truly gutsy, they’d pair a few of their handsets (such as the Curve series) with the Android platform on various carriers and let the public vote with their wallets. I’d argue that RIM would see a resurgence of interest if that ever happened.

Just a random, business-related thought of the day.