We all know that education has an essential effect on wages paid to workers in the labor market but is still unclear if education increases the productivity of laborers or just reflects it. Education provides knowledge about a certain field or subject but the experience is the one that makes things work. In this article, we will argue if education really plays a role in raising the productivity of an individual or it simply represents a person as productive who is actually not.
Productivity has an effect on wages; a more productive person which is an asset to an organization is more likely to be paid more than the one who is not as productive. Education is a signal of productivity. Education provides a degree or diploma to a person indicating that the individual is productive and knows what to do and how to do it, and can prove to be an asset whereas, sometimes people get their education not by gaining or understanding knowledge but by other means such as cheating or getting other people to do things for them, for example getting their thesis and other assignments done by thesis writing services in Lahore, etc. These individuals are in no way productive and still, they are preferred over a person who doesn’t have the required degree for a job but has experience.
Employers tend to appoint and give high wages to individuals who are assumed to be extremely productive due to their academic degrees. Employers value educated individuals over less educated but experienced individuals because of some characteristics which lead to productivity and also because education is perceived to be correlated with productivity.
People with years and years of experience are left out because of highly educated young individuals. People tend to choose highly productive academic degrees in order to get a job that pays well and perceives their education to be their level of productivity and not their experience.
Keeping all these things in mind we should also be clear about the fact that getting higher levels of education can in no way prepare an individual for a practical life working environment and in the same way working experience can be good for a job but without proper education, an individual can lack the skills that may be required for future advancements.
There is no denying that Education raises productivity in an individual by enlightening them with knowledge, know-how, and required details about a major but when it comes to the real-life working environment, it is far more different and complex than just studying about it. One can study the work but cannot study about how to do work. Actually doing a job and studying about it are two different things.
Internship programs help newly graduated students in order to gain experience because companies these days as compared to earlier, are a bit more particular about an individual having some experience in the field before hiring them. It is now proven that experience is one of the most important factors for getting a job because a degree can undoubtedly make a person book smart but it is not enough to make a person street smart.
If we look at today’s world, we see a rise in college and university drop-out entrepreneurs such as Bill Gates, Mark Zuckerberg, Steve Jobs, etc; they are some of the biggest names in entrepreneurship history. They have built a name for themselves without a proper academic degree and this has created a debate in itself as to whether to get a degree or start working at a young age.
In a survey conducted a couple of years back it was revealed that a number of companies rated the experience as more important to get a job but at the same time, 65% of the companies demand higher education for employment.
There are many factors that can be discussed but there is still not a proper study or research that can answer the big question. Education does raise productivity but it also sometimes simply reflects it due to which companies of today demand experience with education. No matter what, one cannot deny the fact that education and experience both go hand in hand.