Not always, and of course there are exceptions, but now there is a glut of educated people. There's this story that parents tell their children: Go to college. Get a degree. Find a good job in that field. In 1940, only a handful of privileged people were able to get their Bachelors degree. Now a significant portion of the United States has or is soon to complete their Bachelor degree. Now plenty of people with Bachelors degrees serve coffee at Starbucks. Because there is more competition. Now, a Masters Degree in many cases is needed to get a good entry job. In some sense, the Bachelor has become the high school, and the master has become the bachelor. There is even a glut in PhD.'s Getting a PhD in an Ivy no longer means a tenure track position. Many PhD's from Columbia or Princeton may end up teaching in a college far lower in the ranks than the one they graduate in. Many law school graduates end up not making tons of money. Certainly some degrees are more useful than others. A philosophy BA can lead to a good law program, but in itself it wont lead to a particular job always. Psychology for example is not a useful B.A. but can lead to a great degree in graduate school. Generally, science, math, technology, engineering, and health care is where the jobs are at, but theres no guarentee even there. There is a social structure, and no matter what the supply is, the demand is fixed. A certain percentage of society, no matter how many college degrees there are, will have to deliver our pizzas and clean bathrooms. There is certainly more competition than there was years ago. Am I suggesting that people not go to college? No. But this is something we should think about.