Do you think that a computer science degree is a ticket to future financial and career security? You might want to watch the video below from
@garyvee to hear some reasons why your thinking may be incorrect. This video contains salty language, you have been forewarned.
Gary explains that the high level of historical financial returns for computer science majors flows from the shortage of capable computer programmers in a past era. Now that record numbers of students are majoring in computer science worldwide, the financial returns to computer science will drop. The scarcity is gone and the supply of computer scientists and programmers is greater than the demand. Looking forward, Gary suggests that unless your focus is on a cutting edge area of technology with room for exponential growth, like 3D or virtual reality, today’s computer science students will be disappointed by their salaries in the long-term. Gary believes that programming and computer science skills have been commodified and will drop in value going forward.
Would love your 3min 8sec on this subject – and please leave your 2 cents #my2cents pic.twitter.com/r7mSLmsGOU
— Gary Vaynerchuk (@garyvee) October 6, 2018
Do we at Shumsky Center agree? I think Gary brings a perspective that is absent from the minds of many parents and students. There are very few golden tickets that guarantee financial success and career stability. For the last several decades, computer science majors have earned very good salaries in the U.S. For example, estimates from Michigan State University’s Collegiate Employment Research Institute survey of the college class of 2017 show computer science majors with an average starting salary of around $58,000. Top earning graduates with computer science degrees from the college class of 2017 earned as much as $130,000. The National Association of Colleges and Employers’ (NACE) Winter 2017 Salary Survey showed even better results for recent computer science graduates. NACE’s survey showed recent college graduates with computer science degrees earn an average starting salary of $65,500. Looking forward, there is reason to expect the financial return to drop as the field is flooded by new entrants. What are your thoughts?