Conventional wisdom has long suggested that to succeed in life, earning a college degree is necessary. But Gen Z has been turning that belief on its head.
According to Pew Research Center, college enrollment has been declining over the past decade.1 Driving that decline? Primarily young men, who share that they simply don’t want to attend college or don’t think they need a degree for the kind of work they intend to pursue.2
It’s hard to argue with their line of reasoning, given the rising costs of a college education – both in tuition and in debt.3 Many young adults simply don’t see the ROI on their degree.4 However, they are seeing, and seizing, opportunity within the trades. With vocational/trade school programs typically running no more than two years, Gen Z is finding faster entry into the workforce – and becoming the “toolbelt generation”.5
Going for Growth
In the U.S., construction output is expected to reach USD 1.5 trillion by 2028. Similarly, the manufacturing industry is projected to grow 15% by 2028. Jobs in these industries require skilled labor – and as Boomers continue to retire, there’s a shortage of skilled workers to step in. That labor shortage is Gen Z’s opening to careers with job security and growth potential.
No Degree Necessary
Pursuing a career in the trades yields benefits beyond job security. Research from SC&RF highlights just how competitive wages are in the specialized carriers and rigging industry:
- Crane and Rigging Operators**: Highest average wages with 87% of firms paying over $35/hr.
- Rigging Services**: 47% of firms reported paying over $35/hr.
- Transportation Services**: 27.5% of firms reported paying over $35/hr.
- Supporting Services**: 33% of firms reported paying over $35/hr.
These wages outpace those of construction equipment operators, electricians, welders, and heavy and tractor-trailer truck drivers, as evidenced by U.S. Bureau of Labor Statistics data.9
Benefits are not limited to wages, either. Consider the case of Crist Morillon, a 27-year old service technician. As reported by CNBC, Morillon’s decision to skip college and pursue a year-long associate’s degree in automotive technologies set her on a path of rapid career advancement. Spending less than a third of the average cost for a bachelor’s degree, her earnings (about $78K/year) have given her the independence and financial freedom to buy a home, years before any of her friends.10
Gen Z: Innovating Industry
Gen Z has no memory of a world without smartphones. Tech-savvy by nature, they don’t need a degree in computer science or coding to understand and adopt AI, IoT, and machine learning on the job. As these technologies continue to be integrated in the specialized carrier and rigging industry, demand is high for digital natives who can step into skilled roles.
Public perception over the importance of college has been shifting over the past decade. Nearly half of Americans believe it isn’t necessary to have a 4-year degree to land a good paying job.11 Gen Z clearly agrees. Welcome to the skilled trades!