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William Isaac @williamis.bsky.social · 23/11/2024

This recent NYT article may provide more context in the survey results. Higher college costs and increased labor competition may be indirectly causing an upward spiral of income expectations. See anecdote below of student hoping to make *only* 500k after graduation. www.nytimes.com/2024/05/22/b...

At Harvard, a graduating senior, who passed on a full scholarship to another school, told me that he felt immense pressure to show his parents that their $400,000 investment in his Harvard education would allow him to get the sort of job where he could make a million dollars a year. Upon graduation, he will join the private equity firm Blackstone, where, he believes, he will learn and achieve more in six years than 30 years in a public-service-oriented organization.

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