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Success: Is Education Important - Essay Example

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"Success Is Education Important" paper is about the education that can or cannot be the key to success. People judge each other with success. Most of the people go about the success ladder by studying, going to a university and all that. Most people do not adhere to that kind of mentality these days…
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Success: Is Education Important
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Most people, citing successful college dropouts, tend to think that education is not really as important as what people think it was. So the question is, is education important? For me, it’s not as vital as it’s formerly thought of, but it is important.

First things first: What is success anyway? Success is the achievement of intention; attainment of fame, wealth, or power; it could be something that turned out well. For most people, the achievement of intention is quite personal. You could be successful on your own but not many people may know it. On the other hand, most people judge others materialistically: wealth, fame, and power. Most people can tell if someone is successful by telling if that person is “rich and famous”. And being rich and famous is equal to being powerful because many people believe in you. So the question now is: will education make you rich and famous?

How does one get to be rich and famous; ergo, how does one get to be rich? People get rich because of the abundance of money: business. Selling and trading commodities is a surefire way of being rich – not getting employed. Now, do you need education in order for you to get successful in entrepreneurship?

Theoretically speaking, yes, because business is actually a field of knowledge and knowledge and skills have to be learned. They are not commonsense knowledge. One should actually have competence in the said field if one wants to be successful. To have competence in business (or any other field for that matter), one should be taught by teachers/mentors. Formal education, or going to school, solves that problem.

However, there are people who do not need formal education. They are those who have been living in a certain environment that would make them knowledgeable in a certain field. For example, children of business owners, especially those who keep their businesses in their houses, already have the knowledge on how to run the business. Specifically, their family business. They do not need formal education if at all, it is just complementary to append their existing, inherent knowledge.

One may ask, what is the definition of education? According to Encarta, education “is the imparting and acquiring of knowledge through teaching and learning, especially at a school or similar institution”. It is also defined as an “informative experience”. With the second definition, one can say that hanging out in a convenience store for twenty-four hours is education because you are informed about the ins and outs of the convenience store culture for twenty-four hours. It is an informative experience on your part. But what we are pertaining in this paper is the first definition of the word “education”. Does having a bachelor’s degree ensure one of being successful, i.e. rich, famous, or powerful?
One can immediately say no because there is such media hype on modern-day IT tycoons who happen to be college dropouts. There are Steve Jobs, Bill Gates, and Mark Zuckerberg. All of them are famous dropouts from college, yet all of them are successful: They are rich, famous, and powerful. Not only they are powerful because of money, but they are powerful because they actually revolutionized the way the world lives.

They revolutionized the way WE live. They made technological breakthroughs that changed the cultures of everyone, and they were dropouts. With them as examples, could we conclude that it’s safe to drop out of college and pursue dreams, or in their case, their interests? No. Because we have to understand that they are geniuses. They think differently than the rest of the people, and they can actually be good at their interests because their talents jibe well with their passions. They are geniuses in their own field and they are lucky enough to have given a break by their colleagues and society.

Obviously, many people are not like them and many people can be like them. Thus, we resort to education. There are many studies that relate educational attainment to success, especially in business. This has been documented by the Federal Reserve and other agencies that document financial performances.

According to the Federal Reserve, there is an economic premium put on education. Of course, one can see it, college graduates are better paid than high school graduates ( According to Ferguson, “Most economists have found that an additional year of schooling typically raises an individual earning power between 8 and 15 percent. Recent studies show that four years of college boost earnings about 65 percent”. This evaluation is usually rated between the linkage of economic opportunity, earnings, and educational attainment. This may be a harsh reality, but that is reality. Education is important if you want to earn more.

There are individuals that do not agree with these findings though. According to a survey by Barclay’s Local Business, only 46% of small company bosses had a degree and only 11% believed achieving a good education is crucial to business success. These people justify their opinions by saying that college education is quite expensive and pursuing college would put them more in debt, hence, they pursue a career in business instead even if they have not earned their college degrees. There are those like Jordan McGreevy, who left school to run his own computer empire. He said: "Having worked on my game during the last few years at school, I felt confident that I knew enough about the field to not go to university (BusinessZone). Read More
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