Friday, September 23, 2011

Goodbye Middle Class

Only Most Educated 3 percent Saw Wage Gains Between 2000 and 2010.
The chart show that 97 percent of the population without education beyond a master's degree experienced declining income over the past decade. Not stagnant – declining.  Even people with Master’s degrees are seeing their wages decline! Only a miniscule 3 percent saw wage gains. Notice who they are: MBAs – I’m sure this data was skewered by upward by the Harvard/Yale/Princeton set – and Ph.D.’s, the lion’s share of whom work at universities where average  tuition has increased over 400 percent since the seventies:

And in case you’re thinking you have any chance of becoming one of that 3 percent, please see this: Universities Seeking Out Students of Means:

Money is talking a bit louder in college admissions these days, according to a survey to be released Wednesday by Inside Higher Ed, an online publication for higher education professionals.

More than half of the admissions officers at public research universities, and more than a third at four-year colleges said that they had been working harder in the past year to recruit students who need no financial aid and can pay full price, according to the survey of 462 admissions directors and enrollment managers conducted in August and early September.

Similarly, 22 percent of the admissions officials at four-year institutions said the financial downturn had led them to pay more attention in their decision to applicants’ ability to pay.

Goodbye class mobility. Been nice knowin’ ya.

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