For all those people seeking a job in the 1950s or 60s, having a degree and getting a government job was a sure passport to success.
Typically a government job was a ‘get me out of poverty’ ticket. Many parents would happily sacrifice everything to educate their children. This they considered their most important step in being able to come out of the village or town to a more civilized place – which largely meant Delhi or Bombay.
They were happy that their children had got Government jobs…which meant they were sure to get a regular income and a fantastic indexed pension to boot.
Then these people in the 1970s and 80s paid through their noses for ‘coaching classes’ and made sure that their children cracked the JEE. These Engineers then went to IIM and then sold colored water. But what the hell, they moved from a 2 bhk in the suburbs to a real house – 4 bhk in the middle part of the city. Then they bought the neighbors flat too. Wow they had moved a couple of notches above what the dad thought they could. Parents even went for a small ‘foreign’ tour, and they had really arrived.
Now the gen after that is in a kind of a dilemma. Will they be able to jump 2-3 notches higher? Seems difficult.
These parents have saved, invested, and have let us say Rs. 15 crores net worth. This is a serious amount of money, and it is their sense of humor that they call themselves ‘middle class’. Fine. They can send their kid to any part of the world to study. Spending a couple of crores is not an issue. They also think (like their father thought) – RoI on education is INFINITE.
This is NOT TRUE. Not true at all.
I now see parents wondering ‘how can I make life great for my kids’ mode. So it is no longer JEE that is the aim, but starts earlier. IB school, then obviously foreign education (what is the use of IB to send him/her to IIT?) so it is USA, UK …etc. However if the students does not have the marks or merit, it is Australia. Or Singapore, or Dubai.
Does this mean he will now get to a networth of Rs. 1500 crores (after all his father got to 100 times his grandfather’s net-worth, did he not?).
Well, well I think difficult. Some of them surely will, but most will NOT.
The world itself might get to be a more difficult place to live. It will be far more competitive.
Education helps you move from a low paid job to a high paid job. However it does not help you move from one category to another. Like films, entertainment, sports, etc. do. They are the game changer keys.
A Sachin or a Sourav have just moved from a middle class family to an extremely wealthy (remember not just rich) category. From a net worth of Rs. 50 lakhs to Rs. 3000 crores.
Such jumps happen only and only with super talent, luck, timing,…..etc….
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