When Jay Atkins graduated from The University of Memphis in December, he knew a white-collar corporate job was not for him.
“I didn’t want to work in a cubicle and florescent lighting, because it drains the life from your soul,” Atkins said.
Now Atkins is independently employed as a photographer.
U of M economic professor Michael Gootzeit said the economic gap between the white-collar and blue-collar work worlds are getting smaller in the current recession.
“The corporate job market has been more unstable in the last ten years than ever before,” Gootzeit said.
According to Gootzeit, the fall of corporations such as Enron represents the main fears of white-collar employees: unstable jobs, poorly-planned pensions and longer hours.
“Even if you’re able to keep your job, the pension could be weak depending on how it is arranged,” Gootzeit said.
“In the private sector for the normal worker, it might be a few years before you even get a pension plan, and you might lose it if they move you,” Gootziet said.
Gootzeit added companies that give mainly their own stock as pension savings came under fire in the last recession, and the Enron buzz will only push Congress to consider new laws to protect the working class.
In America, the country that works longer hours than any other, the value of “overtime” for salaried, corporate workers is debatable. According to John Buckley, economist for the division of compensation data, white-collar workers make about 50 percent more than blue-collar workers. Corporate workers’ wages range between $11.53 to $27 an hour, depending on skill level, while blue-collar workers range from $9.34 to $15.86.
Still, U of M economics chairperson Julia Heath said the current generation is not interested in climbing the white-collar ladder if the price is a 70-hour work week.
“This generation is more interested in the family-work balance than previous generations,” Heath said.
Buckley’s statistics show that with the amount of work time considered, the hourly earnings of incentive-paid workers were only about a dollar higher than the average for workers paid on an hourly basis.
According to Gootzeit, those entering the work force who consider time with family more valuable than money should consider blue-collar work. White-collar jobs typically come with pressure to put in long hours, he said.
“I don’t think going to college is simply for those who are looking to earn more money in a corporate job,” Gootzeit said. “The earning differential is not that much.”
Heath said if President Bush’s comments on the matter go into consideration, it is likely that Enron’s more apparent violations will be “legislated away.”
“I would like to say there will be more changes,” Heath added. “But companies will still operate at a cost that is less for them.”
Atkins recommended any alternative to corporate employment for upcoming graduates.
“There are a lot of other things out there that are better for your needs,” Atkins said.
