College degrees are invaluable, but technical skills also have merit

CEOs were asked: High school seniors are in the midst of college application season. There is now a rising debate about whether the return on a college degree is flat-lining, or worse. Where do you stand on this issue and why? Would you hire someone who did not graduate from high school?

A college education is critical in an age where the importance of technology, information and science is increasingly important. The humanities provide perspective and historical insights that are more and more meaningful as we venture into new technologies and frontiers. The social connections made at college can be invaluable as one advances in their career. Students should strive for admission into the college that is the best for them, which often times is not the college that is the most elite or prestigious. For the proper position, I would hire a non-high school graduate. With that said, however, there is an increased likelihood of limited advancement compared to an employee with more education. Continuing education could offset this weakness, especially if the area was technical in nature, such as plumbers, electricians, and others where technical education is important to the skill set. College is not for everyone, but technical skills can make a huge difference in the success of an individual!

Andy Ansin, vice president, Sunbean Properties

While the answer varies depending on the role within our organization, at one point we would have looked only at candidates that have a college education, master’s degree preferred and significant prior experience. Today, we look more toward work experience, track record, synergy with the mission and a spark of energy that makes them memorable. College education is our preferred starting point, however, we have come to realize that world experience often is the best education. We have begun to incentivize our professionals with opportunities for higher education such as NSU’s new nonprofit management program.

Michael Balaban, president, CEO, Jewish Federation of Broward County

As a foreign national, my American story is not possible without a college degree. Claflin University, the oldest historically African-American college in South Carolina, gave me an education and the wings to come of age. That experience was life-changing and one I will cherish for the rest of my life. However, we all have something to offer and bring to the table. Depending on the role, I would hire someone who didn’t graduate high school without hesitation. If he/she has the right skills for the job and is the best candidate, then he/she has a spot on my team. This is part of our inclusion and diversity promise at Lime.

Uhriel Bedoya, Florida general manager, Lime

I believe that all education is valuable, whether provided by a post-secondary institution or on-the-job/vocational training. There are many individuals with exceptional aptitudes and/or skills that are not necessarily served by college. I am thrilled that we have, once again, reconsidered the value of alternative paths to careers, and am looking forward to re-framing these alternative paths as wise and admirable. I would not hesitate to hire any qualified individual, with our without a college degree.

Anita Byer, CEO, Setnor Byer Insurance & Risk

It is hard to generalize, as some colleges will add more value than others and the answer changes depending on the career. We need to remember that, beyond the direct financial return, a college education helps in personal growth and in creating relationships. Looking at the big picture, I am a big believer in the benefits of a good education, but not a fan of people getting a degree in a weak institution just to be able to say they have a degree. At that point, experience and references is what moves the needle.

Ricardo Dunin, founding partner, Lionheart Capital

I believe the value of a college degree still provides a reasonable return-on-investment depending on the degree and how it best compliments the subsequent career choice. I also believe the decision on whether or not to pursue a postgraduate degree should be framed in the same light — its career advancement value and corresponding incremental impact on compensation. Obviously, a high school diploma is typically a minimum required for even entry level jobs, but yes, the hiring of someone without a high school diploma wound be considered depending on the job

Carlos R. Fernandez-Guzman, president, CEO, Pacific National Bank (PNB)

A college degree from a good school is more than a return on an investment; it is preparation for responding to situations that will present themselves in your particular area/industry. Going to college also instills a discipline to follow-through and complete tasks to the end and to work in teams for a common good. Would I hire someone who did not graduate from high school? It depends, as most entry-level positions require basic high school math and English. But there are some positions in the construction industry that don’t require a high school diploma.

Christine Franklin, president, Cherokee Enterprises

Of course college degrees are valuable, as are master’s degrees and others. Aside from the skills that are learned at these schools, the actual experience that a young adult gains from college is invaluable from a life perspective. And no, I would not hire anyone without both a high school and college degree.

Arnaud Karsenti, managing principal, 13th Floor Investments

Let me begin by saying that according to the Social Security Administration, people with bachelor’s degrees can earn up to $900,000 more in median lifetime earnings than high school graduates. Those with graduate degrees can earn up to $1.5 million more in median lifetime earnings than high school graduates. Therefore, I strongly believe a college degree does provide excellent returns and for life. It certainly did for me. But I also believe that learning a trade through a career certificate program or apprenticeship also yields positive returns and professional opportunities. The common theme is education. The college degree and skilled job certification that requires specialized training will open doors. Both pathways require learning, discipline and goal-setting. I believe both are viable options. In fact, at Miami Dade College, where I serve as board chairman, we offer students with stackable credential opportunities, in which they can start at any level, such as industry certificate, career technical certificate, college credit certificate, associate degree, and advanced technical certificate, which all can lead into a baccalaureate degree, and they can use the credentials as they learn to help start or advance a career. This approach blends the above and demonstrates the innovation and flexibility being afforded by Florida’s State Colleges. I have in the past, and would in the future, hire people without high school degrees. I am not going to judge or question why these individuals dropped out, but if they are dedicated and bring talent to the table, there are jobs in which they can succeed. In my work, some of these individuals have served as drivers, event logistics specialists, couriers, inventory managers, and security and custodial personnel, to name a few. These positions can be full time and with benefits. However, getting a college degree or industry certification makes the professional journey a lot easier and more fruitful.

Bernie Navarro, founder and president, Benworth Capital Partners

The question on return-on-investment stems from the rising cost of education, not whether college education itself is worth it, or not. At the same time, salaries for entry-level jobs haven’t kept pace with those education cost increases. I strongly believe in college education but I also understand that student debt is a serious issue that can hamper a person’s future financial stability, unless there is a clear career path ahead of that education. Depending on the role, we would hire someone with relevant experience, irrespective of their education qualifications.

Sanket Parekh, founder and managing partner, Secocha Ventures

While the information that I have seen shows that students with a college degree make more money over a long period of time than those that do not have one, (even if it they end up working in a field that the student did not major in), I do believe that there are folks with entrepreneurial skills who can identify opportunities to start a business and flourish, particularly in the technology space, who do not necessarily have to have a classic four year college degree. It’s about finding the right solution to an existing pain point that consumers may face; i.e., Uber vs taxi, food delivery companies providing solutions for restaurant chains (Postmates, Door dash, etc.) I think that, depending on the industry, you could hire someone who did not graduate from high school. One-third of the employees hired by Dave’s Bread, an Oregon-based bakery, have a criminal background — proving that you can give someone a second chance.

Julio Ramirez, president, CEO, JEM Global Consulting

I don’t think it is a valid debate. It is a question that has a different answer depending on the individual. Students should pursue a career that is consistent with their own passion, abilities and interests. If they do, they will increase their odds of succeeding. There are obviously some occupations where a college degree is necessary, so if one of those occupations is where your passion lies, you need to go for it.

Kelley Shanley, president, CEO, Broward Center for the Performing Arts

A college education is more important today than ever before as the job options for non-college graduates are dwindling. While college is expensive, there is positive average return-on-investment of 14 percent —- better than virtually any other investment today. Then there are the unquantifiable benefits of developing one’s mind and forming relationships at college. We look to hire college graduates for all positions.

Stuart Singer, administrative partner, Fort Lauderdale office, Boies Schiller & Flexner

For certain fields, a college degree remains important and necessary and, in my opinion, a great investment. But parents and students must be strategic about that investment, particularly if the education is going to be financed in whole or in part by student loans. In terms of hiring, in some cases we substitute extensive experience for the required degree. We always reward team members who have or acquire a degree while on the job with additional compensation.

Evelio C. Torres, president, CEO, Early Learning Coalition of Miami-Dade and Monroe

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