57% of Grads Are Underemployed: 5 Alternatives That Pay More Than a Degree

Here’s the truth that admissions counselors won’t tell you: 57% of recent college graduates are working in jobs that don’t require a degree. I’ve seen the data from the Federal Reserve Bank of New York, and it’s a gut punch. You spent four years (and maybe $100k+) to get a degree, only to end up as a barista or an administrative assistant competing with high school graduates.

Let’s be honest: college has become a luxury gamble, not a guaranteed investment. The average student loan debt in the US is hovering around $37,000. Meanwhile, the trades and tech certifications are quietly printing millionaires. I’m not saying burn your diploma. I’m saying you need to see the other side of the table.

Here’s what most people miss: the cost of college isn’t just tuition—it’s four years of lost income and compounding experience. So, is college worth it? For some careers (doctor, lawyer, engineer), yes. But for the rest of us? Let’s look at five alternative paths that pay more, faster.

Person working in a skilled trade, like an electrician or plumber, looking satisfied with their work

The Skilled Trades: The $100k Secret No One Talks About

I remember sitting in my high school guidance counselor’s office in 2005. She handed me a pamphlet for a four-year university. She never mentioned that the average electrician in my state was making $85,000 a year—with zero student debt. Fast forward to 2025, and that number has jumped.

Here’s the dirty secret: skilled trades are facing a massive labor shortage. The Baby Boomers are retiring, and Gen Z was told to go to college. This creates a supply-and-demand goldmine. Specifically:

Elevator installers and repairers: Median salary of $95,000+. You literally push buttons for a living, but with way more technical skill.
Commercial electricians: After a 4-5 year apprenticeship (paid training, not paid tuition), you can hit $100k easily. Overtime? Double that.
Plumbers: Gross, I know. But a master plumber in a major city can pull $120k. And you’re not sitting in a cubicle.

The kicker? You start earning immediately during your apprenticeship. While your college friends are paying for Ramen noodles, you’re building equity. I’ve found that the biggest barrier is ego. People think trades are “lesser.” That’s a lie sold by universities to keep tuition revenue flowing.

Tech Without the Degree: The Bootcamp vs. The Bachelor’s

I’m not going to lie—software engineering is still the golden ticket. But here’s the twist: you don’t need a CS degree. I’ve hired developers who dropped out of high school. I’ve also fired graduates from top universities who couldn’t ship a feature.

The real alternative is a coding bootcamp or self-taught path. Let’s break down the numbers:

Average bootcamp cost: $10k-$15k, 3-6 months.
Average starting salary for a bootcamp grad (2024 data): $70k-$85k.
Average college grad starting salary: $55k-$60k.

The math is brutal. You spend less time, less money, and earn more out of the gate. But here’s the catch: bootcamps are not magic. You need discipline. You need projects. You need to network like crazy. I’ve found that the people who succeed are the ones who treat the bootcamp like a full-time job, not a hobby.

Alternative role to consider: Cybersecurity analyst. The demand is insane. You can get a Security+ certification for $400, study for three months, and land an entry-level job at $75k-$90k. No degree required. Just a willingness to learn.

A person coding on a laptop in a coffee shop, with a focused expression

Sales: The Unsexy Millionaire-Maker

Most people hate sales. I get it. The stereotype of a pushy car salesman is real. But enterprise sales is a completely different beast. It’s psychology, strategy, and high-stakes negotiation. And it pays absurdly well.

Here’s the reality: The top 10% of salespeople in tech (SaaS, medical devices, etc.) earn $250k+ per year. The average entry-level sales development rep (SDR) makes $50k-$65k base + commission. After two years, you’re looking at $80k-$120k.

What’s the education requirement? A pulse and a personality. Seriously. I’ve seen history majors, philosophy majors, and dropouts crush it. The skills are trainable: cold calling, objection handling, closing. These are things you learn on the job, not in a lecture hall.

The hidden gem: Sales teaches you the most valuable skill in the world—persuasion. Whether you stay in sales or pivot to management, that skill pays dividends forever. And unlike a degree, it doesn’t depreciate.

Entrepreneurship: The “Do It Yourself” Degree

I hate the term “side hustle,” but I love the concept. Building a business is the ultimate alternative degree. You learn accounting, marketing, product development, and customer service—all while making money.

Let’s look at concrete examples:

Digital marketing agency owner: You can learn Facebook ads or SEO in 3 months. Charge clients $2k-$5k/month retainer. Need 5 clients? That’s $10k-$25k/month. No degree needed.
E-commerce (dropshipping or print-on-demand): Risky, yes. But I know a guy who started with $500 and now clears $15k/month selling custom dog collars. He dropped out of community college.
Freelance writing or design: Platforms like Upwork are flooded, but quality is rare. Charge premium rates ($100+/hour) for specialized niches (e.g., medical writing, B2B tech).

The catch? This path is not for the faint of heart. It’s 80-hour weeks, rejection, and uncertainty. But the upside is uncapped. With a degree, your income is capped by your employer. With a business, it’s capped by your imagination.

Real Estate: The Leverage Game

I’m not talking about being a landlord with a rental property. I’m talking about real estate investing—specifically wholesaling or house hacking. These require zero money down and zero degree.

Wholesaling: You find a distressed property, put it under contract, and assign the contract to an investor for a fee. Average fee per deal: $10k-$30k. You can do this part-time.
House hacking: Buy a duplex, live in one unit, rent the other. The renter pays your mortgage. You live for free. Rinse and repeat.

The numbers are staggering: The average college graduate pays $1,500/month in rent for 4 years = $72k in lost equity. Meanwhile, a house hacker builds $72k in equity over the same period. No degree required, just financial literacy.

I’ve found that real estate is the only asset class where you can control the value (renovations, management) while using other people’s money (bank loans). It’s a cheat code.

A real estate investor looking at a property with a realtor, smiling

So, Is College Worth It? Here’s My Honest Take

For most people? No. The traditional path is a trap—unless you’re aiming for a regulated profession (doctor, lawyer, engineer). For the rest of us, the alternatives are faster, cheaper, and often more rewarding.

But here’s the nuance: college isn’t worthless. It teaches you how to think, how to network, and how to survive boring meetings. The problem is the cost and the opportunity cost. If you can get a full-ride scholarship, go. If you’re taking out $100k in loans for a degree in “Communications,” stop.

My challenge to you: Pick one of these five paths. Spend 30 minutes today researching the first step. No degree required. Just action.

What’s stopping you? Drop a comment below—I read every one.