Measure career quality by percentage of dropouts?
I visited a daycare/preschool last month and was introduced to the teacher of the oldest children. She’d retired from the local public school after 35 years of teaching kindergarten and, despite earning a comfortable pension, had chosen to continue teaching 5-year-olds.
A few days later I spent time with two women who’d earned Harvard Law School degrees and jobs at excellent firms. Neither of them had worked at any waged job for 20 years. Another woman at the same event had a Harvard Business School degree. She hadn’t worked for at least 8 years, the age of her single child.
I’m wondering if “career quit rate” would be a useful statistic to compile for young people. If people continue to do a job despite not desperately needing the paycheck, we can infer that it is a satisfying job, right? If people quit despite high potential pay, we can infer that it is not a great career from an emotional point of view.
“Why Women Are Leaving the Workforce in Record Numbers” says that “only 35 percent of women who have earned MBAs after getting a bachelor’s degree from a top school are working full time, compared to 66 percent from second-tier schools.” This is consistent with anecdotes from friends who attended the MIT Sloan School and Harvard Business School. Most of their female classmates have children and no longer work (see Real World Divorce for which states make this a viable long-term personal financial strategy).
Medical doctors may scale back, but not quit entirely (see “Don’t Quit This Day Job” (nytimes) for “nearly 4 in 10 female doctors between the ages of 35 and 44 reporting in 2010 that they worked part time”). Either it is easier to be a part-time MD than it is to be a part-time business manager or being an MD is more satisfying.
I can’t find any good statistics on what percentage of trained and qualified people, organized by field, drop out of the workforce, but I think gathering data would be valuable.
Readers: Know of any good sources for a working/trained ratio by vocation?
Related:
- Book Review: The Redistribution Recession (government paying people to drop out of the workforce)