Recently, the government has warned Singaporeans against taking up degrees for the sake of getting “a piece of paper”. The reason is because they expect that there will be more and more highly educated but lowly paid people in Singapore.
Two main reasons:
1. Sinkies suffer from misunderstanding of cause and effect. The older generation saw that highly educated people reached high office and made a lot of money, so they thought that going to university leads to a better life.
But they were misled.
Actually, it was the opposite! A better life leads to university education!
In the 1950s, only the rich and privileged in SG could send their children to university, so whether they can study or not is not the cause of their wealth. A rich kid who inherits his daddy’s fortune and/or connections will still be rich no matter he has a degree or not.
2. In addition, in the 1950s just having a degree cert represents a prestigious unique selling point at an era when most people don’t even have ‘O’ Levels, which is why degree holders quickly promoted into leadership positions and made a lot of money.
Today, degree holders are everywhere, not only within SG but all around the world. Many job openings are greeted by hundreds of resumes… how is your qualification any better than all the other candidates?
The harsh truth is that a degree in 1955 is a WORLD OF DIFFERENCE from a degree in 2015… yes, even a law degree from the same prestigious UK university…
So who do you think will make more money? A person who is highly educated or a person who has the right connections and most relevant experience?