Should I Go To College Or Graduate School To Make More Money?

A question as old as college I suppose. Colleges need to make money too! What better way to market it than to say you’re DEFINITELY make more money by attending it. Colleges have marketing departments also; they’re businesses just like Walmart and Macys. They’re in the game to make money. Do you NEED to go to one to make money? Some think you do.

But how about your specific job? Could you benefit in your current position from going to a place of higher education? Will that make you rich? I don’t know, I suppose it could, but it really depends on the person and what they’re driven by. There are several VERY wealthy people out there that didn’t need higher education and they made it, a few on the list include:

225px-richard_branson.jpgRichard Branson is an English entrepreneur, best known for his Virgin brand of over 360 companies. Branson’s first successful business venture was at age 15, when he published a magazine called Student. He then set up a record mail-order business in 1970. In 1971, he opened a chain of record stores, Virgin Records, now known as Virgin Megastores. At sixteen, Branson left school and moved to London, where he began his first successful business, Student magazine. When he was seventeen, he opened his first charity, the “Student Advisory Centre.”

images.jpgBill Gates is an American entrepreneur, software executive, philanthropist and chairman of Microsoft, the software company he founded with Paul Allen. During his career at Microsoft he has held the positions of CEO and chief software architect, and he remains the largest individual shareholder with more than 8% of the common stock. He enrolled at Harvard College in the fall of 1973 intending to get a pre-law degree,[20] but did not have a definite study plan and eventually left without his degree.

225px-michael_dell_square_crop.jpgMichael Dell is an American businessman and the founder and CEO of Dell, Inc. While at the University of Texas at Austin, he started a computer company called PC’s Limited in his room in Dobie Center. The company became successful enough that, with the help of an additional loan from his grandparents, Dell dropped out of college at the age of 19 to run PC’s Limited, which later became Dell Computer Corporation, then ultimately Dell Inc.

220px-walt_disney_portrait.jpgWalt Disney dropped out of high school at 16 to join the Army, but then was rejected there because he was too young, but went on to be arguably the most influential and successful cartoonists in history.

debbifields.jpgDebbi Fields was a 20 year old housewife with no business experience when she started Mrs. Fields Chocolate Chippery. Try to name someone else that has a better selling recipe for chocolate chip cookies. In 1969, Oakland Athletics owner Charles O. Finley introduced “ballgirls” (young girls who would sit in foul territory near the baselines to retrieve baseballs grounded foul by batters) to major league baseball. Debbi was one of the first ones he hired. She was paid five dollars an hour and would use the money to buy ingredients for what would become her famous cookies. She began her business in 1977 in Palo Alto, California, and since it has grown into over 650 retail bakeries in the United States and over 80 in 11 different countries. Fields began franchising in 1990, and, though she sold the business to an investment group in the early 1990s, she remains as the company’s spokesperson.

200px-henry_ford.jpgAt the age of 16, Henry Ford left home for the nearby city of Detroit, Michigan, to work as an apprentice machinist, first with James F. Flower & Bros., and later with the Detroit Dry Dock Co. In 1882, he returned to Dearborn to work on the family farm and became adept at operating the Westinghouse portable steam engine. He later started Ford Motor Company to manufacture automobiles. Ford’s first major success, the Model T, allowed Ford to open a large factory and later start the assembly line production, revolutionalizing the auto-making industry.

One thing to note I found when crafting up this article is that my mindset changed while crafting it.  Initially I thought to myself, wow, these people that didn’t have an education really excelled; and that is a fact.  But think of the devils-advocate post on it.  How many people DID go to college and are wealthy billionaires now?  I bet that list is pages upon pages longer than this list – but nonetheless, the point of the article is that it IS possible to become wealthy by ditching the traditional school systems, so congratulations to those people that have…

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  • One thing to note is Gates and Dell did go to college. Ford, rather than school, learned his craft as an apprentice which could be seen as a type of school. I think the fact that these people and others have made it without college degrees shouldn’t be used as an excuse not to go to college. I’m not saying one must go to college just that it has to be the right choice for the individual.

  • Good points – I guess I should have said didn’t need ALL of their higher education. Good catch FFB – duly noted. 🙂

  • R

    I don’t think that you need to go to school to become rich, but someone has to believe in you and ultimately give you money to grow your business (if that is what you want to do). These individuals received money from relatives, friends, angel investors or banks to help their businesses grow.

    If you are not able to secure funds to start a business like these successful people, then you should go to university or college to make a good living and then you can save money and start a business yourself. You will still eventually need investors. I don’t believe that you can get that rich without anyone helping you out financially – education or no education!

  • I think it depends on the person and what they hope to do with their life. I never graduated high school, let alone any college. I do just fine, but then of course I fight it out running my own businesses. If you are the type of person that is not business minded I would advise finishing college.

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  • What a concept !

  • Josh

    There are many in addition involved in the Yager Group. The Yagers have created more millionaires than any other system in the world today, and they have also helped the group in other ways. Many an alcoholic has quit drinking because of the Yager system, and Dexter was a beer truck driver from Rome, New York with no college experience at all. Larry Winters, same story. Tim Bryan, same story. It all depends on your dream, because “If the dream is big enough, the facts don’t count.”

  • If you are not able to secure funds to start a business like these successful people, then you should go to university or college to make a good living and then you can save money and start a business yourself. You will still eventually need investors. I don't believe that you can get that rich without anyone helping you out financially – education or no education!
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  • I think we should not always think of going to college to make more money. Then we might get ourselves disappointed if we didn't make as much as the guy who didn't. College should offer more than just money prospects.

  • pip

    Yes, I think college shouldn't be about money.  It's a basic right and unless we really don't have the means, I think college should come first.  Of course if some special opportunity came along, then it's a different matter.

  • Christopher Palacios

    Well you don’t need to go to college to get a good job and save money, well at least for a young person. A high school graduate who starts out with no debt can get a job and save his/her money and start investing it, while the college student will actually be in debt and lose the 4 years of income. I believe that college really just puts you behind. The best option is to get a 2 year degree while you work, that way you will get an education without getting into debt or losing income years.