2 Career Planning Takeaways for Teens in the Coronavirus Era
“The past can hurt. But the way I see it, you can either run from it or learn from it.”
Every experience we go through, whether positive or negative, can teach us important life lessons—and the coronavirus pandemic is no exception. COVID-19 has given our society a harsh reality check about its vulnerability before unforeseen health threats and the fragility of institutions that suffer as a result.
While it’s not all gloom and doom, now is the opportune moment to impress certain “coronavirus takeaways” upon teens who'll soon be out in the world on their own.
Your family may have already understood the importance of frequent handwashing, for instance, but the coronavirus has amplified that tenfold. COVID-19 has brought many stern reminders with it, the most apparent being why we should:
Seek medical help when feeling under the weather.
Follow the advice of trained professionals.
Put aside money in case of an emergency.
In addition, and particularly for teenagers, there are lessons to emphasize by way of career planning. At this point in their lives, teens should be thinking about what career they would like to have and subsequently determining which educational path (degree type, degree subject area, and institution) would best prepare them for it.
Here are some key facts that your teenage children should be aware of in the coronavirus era.
Education pays off—literally
Statistics compiled by EducationData.org show that 67% of 2017 high school graduates started college that same year. But what about the other third of high school graduates? Some teenagers have doubts about attending college, especially given the ever-rising cost of tuition. In these cases, it’s worth mentioning that college graduates earn an average of $32,000 more per year than those with a high school diploma alone.
The upfront costs of attending college can be staggering. According to U.S. News & World Report, tuition and fees at public state schools currently average $10,116, while private schools average a whopping $36,801. Still, studies show, going to college is worth it.
In fact, reports from the Federal Reserve Bank of New York indicate that college degrees have a 14% average return. That may not sound like much, but when you compare it to the average return benchmark for stocks and bonds (just 7% and 3%, respectively), a college degree quickly proves itself as a strong investment.
Perhaps your children want to continue their education after high school, but a four-year school doesn’t suit their needs. The good news is that a bachelor’s degree is not the only route to securing a higher salary in the future. Individuals with trade school educations also tend to earn more than those who solely have high school diplomas. Attending a trade school can be an appealing alternative for students who hope to join the workforce quickly.
The benefits of graduating from a trade school also extend beyond higher income. A trade school education offers greater job security (occupations of a technical nature are less likely to be outsourced) and more affordable tuition.
No matter how you slice it, education pays off. Given the financial upheaval provoked by COVID-19, the benefits of having a college or trade school education are evident.
Certain industries have a positive job outlook
This April, the unemployment rate in the U.S. rose to 14.7%, its highest value since the Great Depression. While that statistic is certainly worrisome, the truth is that not all industries are nearing bankruptcy right now.
In fact, some businesses have flourished in the wake of COVID-19. The U.S. Chamber of Commerce reports that board game makers, cleaning services, drive-in theaters, and grocery stores, among others, are all seeing a spike in business. Such trends can be reviewed by young people who are deciding which field to enter or whether to become business owners. Essential workers, such as those who work in healthcare, information technology, and transportation logistics, are also busier than ever.
As your children weigh various career possibilities, you can suggest that they investigate a job’s future outlook and communicate with people in that line of work to gain a first-hand perspective of the role.
The U.S. Bureau of Labor Statistics indicates that, between 2018 and 2028, the projected job growth for software developers is 25.6%. On the other hand, the projected job growth for photographers is -5.6%. College-bound students should know about such estimates so they can make more informed decisions.
Projected job growth is not the only factor that teenagers should consider when they create their career plans—their interests and skills are worth considering too. At the end of the day, however, selecting one’s career path should involve sound judgement as well as personal inclinations.
Tiffany Sorensen holds a Master of Science in Spanish-English Translation from New York University. She works remotely from sunny Mexico, where she gives English and Spanish classes, writes educational articles, and designs practice tests for the ACT.