- As a consequence of these factors, there is less public money per student, so students have to pay more
- As another consequence, a degree is worth less than in previous decades
- Employers see a college/university degree as a requirement, even for jobs that don't really need them
- Unpaid internships are therefore seen as a differentiating factor when hiring graduates
So, in order to climb that greasy pole, you need a) the money to get a degree and b) the money to work unpaid while you gain experience. In the past, you had the option of starting work as a teenager and working your way up, or being one of the few to go to university and having your costs paid, with a good chance of a higher paid job at the end of it.
In this brave new world, these doors have been firmly closed to kids from poor families. Of course it benefits the rich kids and I wonder, half-jokingly, if this isn't an intended consequence of the richer Boomers ensuring an easier ride for their progeny without competition from the hoi polloi. In any case, I fear for the future of a country where advancement depends on connections and family money rather than ability.
Review of a good primetime documentary about class mobility in Britain, including unpaid intern stuff: "Who Gets The Best Jobs? Review: Bank of Mum & Dad"
Employers see a college/university degree as a requirement, even for jobs that don't really need them
Don't forget the classic, which I've seen come up during two crashes now: "Only accepting applicants with a degree from a top-ranked school." I don't know if you get that over there, but it seems to get really popular as soon as the economy tanks.
