My Son Will Be a Plumber and Not an Executive

My son, at age 22,  graduated from a good college 14 months ago with a degree in economics. His grades were well above average. He has friends at several consultancies, including McKinsey. He knows bankers at Goldman Sachs. After looking for a job in finance since his graduation, he has not received an offer. He has not been asked to come to a single interview. The job he was sure he would get with a base salary of $120,000 does not exist.

With plans to buy a house and have a family, he has given up finding a job that traditionally would be open to him. He has decided that the best avenue is to learn a trade that may allow him to be employed with a solid income for what could well be decades.

Becoming a licensed plumber requires about four years of on-the-job training with a licensed plumber. It also requires graduation from a vocational school. During this period, he will make about $50,000 a year. Once he acquires a license, the annual pay range will be $150,000 to $200,000 a year. If he starts his own business, he takes a risk, but that figure could hit $400,000 when profits are included.

One advantage to the plumber path is that, according to the Bureau of Labor Statistics, there are almost 500,000 jobs for plumbers, pipefitters, and steamfitters. In areas of the United States where large numbers of homes are being built, the chance for a full week of work year-round is good.

What happened? AI did. He wanted to be a financial analyst. These jobs existed in abundance two years ago. The work was done for a banking or consulting partner. The path upward was toward annual compensation of $500,000. If he became a partner, that number could go into the millions. Now, OpenAI does the work.

Instead, he will be a plumber.

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