We talk so often about the skills gap, and what society might do to fix it. Well, Minnesota is taking some smart steps. While many states track earnings of residents after college, Minnesota is going beyond just making that information available online. The state enlists people to share the findings with students and college staff in person and through an interactive website. Students can then make informed decisions about what skills are in demand, and which majors give them the most earning potential after graduation.
The findings from these data systems and salary trackers are interesting, and often unexpected. For example, more education doesn’t always mean higher earnings. Often, technical programs have a greater return on investment, particularly during the early years.
Of course, salary isn’t everything. There are many considerations to make when choosing a career. But it’s smart to understand the big picture of future earnings and marketability when deciding what training and education to choose – and how much to spend on it. And this sort of communication between government, hiring companies, and students is a smart way to address the talent gap.