Quantifying the Diploma's Value

Let's see- a designer / draftsman, very proficient with appropriate software, makes about US$45,000-US$50,000 a year.

An engineer fresh out of school typically gets hired for about US$60,000 to US$70,000 a year BUT spent US$120,000- US$40,000 out of his/her pocket after scholarships, etc.

US$70,000 - US$ 50,000 = US$20,000 so the education has a two year payback at starting salaries. The designer/draftsman will likely NEVER make more than US$60,000 whereas the engineer can expect to be around US$90,000 within 5 years.

Add to that issue the fact that it is relatively easy to teach the engineer to do CAD work, but virtually impossible to "teach" a designer/draftsman how to be an engineer so job security is definitely on the side of the engineer.

Technology is one of the factors to improve the qualities of life of all creatures on this planet. Scientists explore the basic scientific truth and engineers apply /convert this rules as a technology for the benefit of all. Technicians , supervisors and engineer are few levels in engineering education an all have well defined roles & responsibilities and accountabilities to achieve their objectives. Engineers being at the top in hierarchy have added advantage to understand and apply creative ideas to use all available resources in optimum level. Each individual depending upon his or her capacity always want to pursue their education. Earning a certificate is not the end of profession. Practice makes an individual to perfect. Continuing professional development ( CPD ) is a part of professional development. In term of investment on education supply and demand forces decide the market.

When hiring people in the past I have always used the rule of thumb that a degree in a fast changing sector (like electronic engineering) devalues at the rate of 50% of its residual value per annum. (after 1 year worth 50%, 2 years 25%, 3 years 12.5% etc.) Experience on the job compensates for this devaluation so that hopefully the candidates usefulness as an employee increases over time. So a candidate who gained his degree ten years ago is not evaluated on his degree but on his accumulated experience.

It is an interesting exercise to work out how much a degree would devalue in one year in your discipline, and how much compensatory experience a new employee can gain in the company you work for.(e.g. ½ a degrees worth per year)

I find it interesting that one would want to quantify the value of an engineering education by applying a price to earnings ratio. A college education whether it be engineering or liberal arts is of value. Learning and knowledge is always of value! A good college education, especially an engineering education tells potential employers that you are capable of learning and applying your new found knowledge.

Does value always need to be measured in a monetary payback? If you receive an education that allows you to do what you love and gives you satisfaction whether it is engineering or something else, isn't that most valuable?

I like the point Travellyne is trying to make, however I disagree with their premise. If you're going to quote the monetary cost of a professional education (which the OP did), and ASSUME said education will provide a certain standard of living, then you had best be prepared to calculate the payback, else you are wasting your time. Education, for education sake, can be done with or without degrees, grants, scholarships and professors, and I would implore all of you who wish to call yourselves 'educated' to pursue a lifetime of continually learning and adapting to your trade, else you fall behind. If that happens, then that shiny box housing your $50,000 diploma, which you worked for, is not worth nearly the price you paid for it.

Guys there is a breaking news,

There are fewer words in the thesaurus than the number of engineer being "manufactured" out of India alone,leave aside d rest of d world,and d payscale is unimagineably wide spread over a range of US$ 1500 per Year to US$84000 per year well thats that. Engineers are no more than a manufactured bolt just supporting the loads of their own aspirations against d force of the actual scenario in today's industries.