Episode 44: Human Capital beyond Education for College Students

April 20, 2016
Introduction
Write a review for the podcast, I’ll donate $10 per review for to www.activeminds.org and www.jedfoundation.org
Week #14… so close!  The Spring college semester is getting close to finishing!
College Student Quick tip
Don’t highlight or underline in text books. Take notes. On paper. Along those lines, check out this article about note-taking and using a computer vs. a pencil.
Topic of the day from r/college
Good lead-in to today’s topic
Today’s Topic: Human Capital
Gary Becker, “Father of human capital”

Of course, formal education is not the only way to invest in human capital. Workers also learn and are trained outside schools, especially on the job. Even college graduates are not fully prepared for the labor market when they leave school and must be fitted into their jobs through formal and informal training programs. The amount of on-the-job training ranges from an hour or so at simple jobs like dishwashing to several years at complicated tasks like engineering in an auto plant. The limited data available indicate that on-the-job training is an important source of the very large increase in earnings that workers get as they gain greater experience at work. Bold estimates by Columbia University economist Jacob Mincer suggest that the total investment in on-the-job training may be well above $200 billion a year, or about 2 percent of GDP.

No discussion of human capital can omit the influence of families on the knowledge, skills, health, values, and habits of their children. Parents affect educational attainment, marital stability, propensities to smoke and to get to work on time, and many other dimensions of their children’s lives.
A good blog post I read on the topic of human capital:
Factors to consider in Human Capital for college students beyond the education.
1) Motivation (remember the reddit post we talked about earlier?)
2) Perspective (what I discussed last week, trying things/quitting and/or failing gives you this)
3) Human networks (this is a big checkbox checked for colleges, but it would seem to be changing)
Home Exercise
  • List 5 forms of human capital that you feel you possess.
  • You may include forms of social capital as part of this exercise.
  • Think about how to leverage one of those areas in achieving your goal (Leverage).
Previous Week’s Home Exercises
Week 1: Set a goal and think about it considering my 5 Factors (Passion, Value, Leverage, Accountability, Sustainability), and areas where you may need to pay special attention to (Passion).
Week 2: Think about what you need for your happiness and well-being. Consider what happiness achieving your goal will bring you. Write down your goal, and why you want it (Accountability).
Week 3: Pick one thing Zack and I talked about in the interview that will help you in reaching your goal, block out space in your calendar this week to do that one thing, and do it (Sustainability).
Week 4: Examine lack of progress more closely if needed, look at your life’s defaults through an honest lens (Value).
Week 5: Try out one of the note-taking suggestions/tips talked about in the episode in one of your classes over the next week (Accountability).
Week 6: Complete a study plan for the one midterm that is currently stressing you the most. If your goal does not relate to school, take a step back, see how you’re progressing, and re-evaluate your To-Do list (Accountability).
Week 7: Consider your “brand.” Think about how your brand could impact you as a potential employee down the road. If you are not in a position to start branding yourself now, at least write down your personal brand idea and file it somewhere you won’t forget it (Passion).
Week 8: If you’re struggling to achieve your goal, confirm you are truly in the preparation/action stage when it comes to the goal you set in the beginning of the semester (Sustainability).
Week 9: Think back to a time in your life when you persevered and succeeded. It could be a memory from a long time ago, or a recent event, but think about your own personal qualities and what you showed to yourself and others when making that achievement. Write about it if you can. What can you use from that experience to propel you closer to your current goal (Leverage)?
Week 10: Now that you are 2/3 through the semester, stand up and take a 30,000 foot view of your goal, the progress you’ve made so far, how much you have left to go, and if you need to make any changes in the direction you’re headed (Accountability).
Week 11: Talk to somebody about, or ask someone for advice about your goal.  The person you ask should know more about your goal topic than you do. Take a risk, ask someone you’re slightly intimidated by, you’d be surprised who might respond with some great words of wisdom (Passion).
Week 12: Thank a support in your life that’s been there for you (Value).
Week 13: Quit something you know in your heart you need to quit. If you can’t do it today, write down what you want to quit, how you think you can do it, and store it somewhere safe to return to later. This is not Derek telling you to quit something, but rather I’m giving you permission to listen to your heart and gut, especially if you’ve noticed in the past that doing so has been the right decision (Sustainability).
Housekeeping
If you have mental health issues and a success story to tell (current college student or former), I’d like to interview you about your goal achievement quest, the struggles/adversity you faced, as well the recovery strategies you learned, let me know!
You can also visit the podcast’s Facebook page. That can be found at:
Please subscribe to my podcast in iTunes or Stitcher Radio. A rating and/or review would also really help out the show and allow new listeners to discover it. Thanks for all the reviews so far!
Thanks to Rob Cavallo for today’s music. For more information about him or the music you heard today, you can email: peloquin17@yahoo.com

Comments are closed.

College Student Success Podcast © 2017.