WHAT IS YOUR COLLEGE TIME WORTH?
Posted on June 16, 2014 by Tom Cocklereece, One of Thousands of ADD ADHD Coaches on Noomii.
Students, compare your typical minimum wage job with the total amount invested in your education. The fact is that your job is "get your education!"
I was recently contacted by a parent of a rising college sophomore and there was concern that he had lost his scholarship funding. The parent was frantic and desperately wanted life-coaching for her student. We discussed how coaching works as well as the fact that just because the parent wants coaching does not mean that the student is motivated or even willing. The old cliché “You can take a horse to the water but you can’t make him drink” applies here. I always insist that there is a meeting with the prospective student coachee to get a sense of the motivation of the student as well as the potential for a working relationship that indicates some compatibility. Parents are often frantic about the student’s low grades and loss of funding while the student is seldom able to grasp the importance of the situation. I met with the parent and then had a private meeting with the student.
MOTIVATING AN UNMOTIVATED STUDENT
“You do realize that pursuing your education is your current priority full-time job, don’t you?”
I began the meeting with Barry by insuring him that if we worked together in a coaching relationship, our sessions would be confidential. In the course of conversation I found out that Barry worked at a fast food restaurant making minimum wage during the summer which is $7.25 per hour based on the federal requirements. I asked about his desired major in college which was information technology. I said to Barry, “You do realize that pursuing your education is your current priority full-time job, don’t you?” He said, “Hmmm, I never thought about it that way.” I then led him in a discussion about the cost of his education and here is what got his attention:
STUDENT, WHAT IS YOUR TIME WORTH?
There are 160 class days in 2 full semesters
8 hours per day gives you 1280 hours per college year.
If your college education costs $30,000 per year 30,000/1280= $23.44 per hour
If the student has car payments and other expenses, add them to the education costs and recalculate.
For Barry, his hourly cost of going to college is right at $25.00 per hour based on the above formula. His eyes got really big when he discovered what his education time was worth. I asked him, “Would you rather complete your education at $25.00 an hour or do you want to drop out of college and work for $7.25 an hour?” He instantly said he preferred to stay in school. He began to talk about how he did not want to work in fast food for the rest of his life so he wanted to turn things around at college. Though he may have lost some of his scholarships, he decided he wanted me as his life-coach. He expressed his hope that he could get funding through loans or other means so he could stay in school.
What is the time worth for you or your student in college? The opportunity to attend college is an investment into the student that has value that can compound at graduation into real income. The cost of a good life-coach is a minimal added expense when compared to the overall investment and achievement of graduation. Student, how much is your education time worth compared to a lifetime of working at minimum wage?
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Dr. Tom Cocklereece is CEO of RENOVA Coaching and Consulting, LLC. He has 20 years experience as a pastor, is an author, certified professional coach and coach trainer, leadership specialist, and a member of the John Maxwel Team
