Many people are of the opinion that education is over rated. Of course, there are a number of ways to get an education about something such as being self-taught, experience, an apprenticeship program, on the job training and so on. What I am referring to is a more formal education where you go to a school, university or learning institute and get a degree, diploma and transcript.
Completing a formal education has many advantages that will give you an edge over those that do not have that piece of paper. In summary this would be recognition, theoretical understanding, organizational affinity and network. Recognition is very important in that the school you came from, your degree and grades are a benchmark for other people particularly potential employers to make an assessment of your capability and potential. A formal education is a standard by which the world recognizes, judges and accepts you. You cannot be a doctor, lawyer, teacher, CPA, engineer or pilot without going through a formal education and passing all kinds of tests and examinations.
A formal education should also give you a deeper understanding of your knowledge in your chosen field. A person with experience may be able to tell you how big a motor you will need to run a machine but a licensed engineer can not only do that, but can also calculate how much power is needed to run the machine. A theoretical understanding of how things work, the science behind it, the calculations, dosage, rules and regulations is what you get with your degree and license.
Organizational affinity particularly with schools known for something, being an alumni of a certain school can open some doors for you. We can readily see this in organizations, companies and government where the people doing the hiring or the decision maker would tend to choose a fellow alumni. There are practical reasons for this such as having the same organizational culture, familiarity with the quality of education, professors, facilities, standards and locality of the school or university.
The regular interaction with your classmates and professors over a period of time, builds up friendships, alliances, trust and comfort level in each other’s competence, ability, dedication and commitment. Typically, some of these relationships lasts a lifetime and such a network may have many benefits such as getting leads towards a job, business connections, recruiting competent and trustworthy employees, partners and investors.
Your education is what you make of it and how much time and effort you put into it. Take advantage of the opportunity you are given in getting a formal education and you will end up having the advantage over a larger segment of the population that did not have this opportunity.
(The views and comments of the author are his own and not of the newspaper or FINEX. Dr. George S. Chua was 2016 FINEX President, 2010 to 2020 FPI President, an active entrepreneur, a regular member of the National Press Club, Chairman of Alabang Country Club and loves playing golf.
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