Liberal Arts Education: Can You Really Study It All?
April 12, 2011 at 12:00 am

Point Study It
by Len Penzo
Counterpoint Study It All
by Lindsay Nieman

There is more than a grain of truth in the old joke that goes something like this:

The engineering graduate asks, “How will it work?”

The physics grad wants to know, “Why does it work?”

And the liberal arts graduate asks, “Do you want fries with that?”

A recent study by Bloomberg Businessweek evaluated over 500 American universities and colleges. Here are the top institutions of higher learning identified by Bloomberg that were found to provide the best net annualized returns on investment:

1. Georgia Institute of Technology

2. University of Virginia

3. Brigham Young University

4. Colorado School of Mines

5. College of William and Mary

6. University of California - Berkeley

7. University of California - Los Angeles

8. University of Michigan

9. Virginia Polytechnic Institute

10. University of Florida

11. University of North Carolina - Chapel Hill

12. California Polytechnic State University - San Luis Obispo

13. Texas A&M

14. Massachusetts Institute of Technology

15. California Institute of Technology

Now take a look at those top 15 schools. What do you see that stands out?

Of course, the first thing I assume most of you will notice is that the University of Michigan made the list at number eight, although that’s not what I was looking for. You are the big winner, though, if you noticed that there is exactly one lonely liberal arts college on the list: William and Mary. On the other hand, the vast majority focus more on professional or technical education, and six institutes of technology on the list (in bold) specialize in engineering, science and/or technology degrees, including my alma mater, Cal Poly San Luis Obispo.

The reason for this is simple. Fewer people get technical degrees, which keeps demand for engineers and scientists high, which in turn keeps their salaries high in relation to most other professions. Yes, you can still make a lot of money with a liberal arts degree, but it's a lot tougher because the competition is so much more intense.

Obviously, the trick for you folks in college who are not interested in pursuing a technical degree—or becoming a lawyer or doctor—is to make sure you don't get caught spending tens or hundreds of thousands of dollars for a diploma that ends up being a complete waste of your hard-earned money.

How do you go about doing that, you ask?

Well, if your college degree of choice requires you to take any of the following real life courses that your very own U-M offers, you may want to think about finding yourself a new major. Stat.

1. Dinosaurs and Other Failures

2. Sex and the City: Urban Geographies and Sexual Locations

3. History of Witchcraft

4. Behavior of Wolves and Dogs

5. Why Grandpa Went to War

6. Disney’s Lands: Consuming Wonders of the World

7. Frauds and Fantastic Claims in Archaeology

8. Virtuality and Digital Identity

9. Indigenous Women’s Art Practice in Cross-Cultural Contact

10. Much Depends on Dinner

Now take another look at the classes above. What common characteristic do you see that stands out? True, none of them require any serious math skills. But, more importantly, although each would presumably count for credit towards a liberal arts degree, all of these ridiculous courses contribute very little to making you more competitive in the marketplace.

Think about it. Are there really employers out there looking for graduates who can identify the main ingredient in a frittata and show why the pyramids of Giza were not built with the help of aliens from Zeta Riticuli? Or knows the locations of the red light districts in America's biggest cities? Of course. But there aren’t many.

There simply are not a lot of hiring managers pounding on their desks and demanding their highly paid headhunters find them a liberal arts graduate that knows—I mean really, really knows—why Grandpa went to war. However, you can bet your bottom dollar that they are absolutely begging for people who have taken numerous courses in mathematics, engineering, chemistry and/or physics, even in the terrible economy we currently find ourselves in. These skills are always in demand, and for good reason: science and engineering grads drive innovation, constantly looking for new ways to change the world and improve our lives. Investing in a technical or vocational education won’t just earn you a fat paycheck—it will also make you a productive, contributing member of society.

With that in mind, before you commit to spending tens or even hundreds of thousands of dollars for a liberal arts degree, you might want to reconsider your options—especially if you plan on getting a reasonably quick and decent return on your college investment worthy of an Ivy League portfolio.

That is, unless you don’t mind getting a job after you graduate asking customers if they want to super-size their mega-value meal deal.

Read the Counterpoint: "Study It All"

About the Issue

Point author: Len Penzo runs the irreverent, eponymous personal-finance blog, Len Penzo dot Com. The blog covers money with a strong emphasis on personal responsibility. It was honored by Kiplinger as a Best Money Blog in 2010.

Counterpoint author: Lindsay Nieman graduated from the University of Michigan in 2010 with a BA in English

Edited by: Lauren Opatowski & Leslie Horwitz

Cover by: Laura Gillmore


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    2 Comments

  • Ryan says:

    Great issue. That list of courses makes me uncomfortable though. Sure, a class like “Behavior of Wolves and Dogs” may not lead to sudden scientific revolutions or aid society, but for the sake of understanding and observing the world around us, studying animal behavior in an evolutionary context is EXTREMELY important. Just because you think your major is more ‘significant’ than others definitely does NOT mean it is. My philosophy when it comes to education: study everything without discrimination.