11 Nov Bloomberg: Who needs college? Become a plumber

While many parents imagine college in their kid’s future, Michael Bloomberg, a former New York City mayor and well, a billionaire, has some other ideas for high school seniors.

“Today if your kid wants to go to college or become a plumber, you’ve got to think long and hard,” Bloomberg said at a Wall Street trade group meeting. “If he’s not going to go to a great school and he’s not super smart academically, but is smart in terms of dealing with people and that sort of thing, being a plumber is a great job because you have pricing power, you have an enormous skill set.”

Bloomberg isn’t the only one extolling the virtues of a trade.

Last February, I wrote a piece for Inside Jersey magazine about whether or not the cost of college is really worth it.

Mike Rowe, the host of “Dirty Jobs,” a Discovery Channel show about get-your-hands-dirty professions, said the high costs of college aren’t a guarantee you’ll earn it all back with a great career.

“In reality, a four-year degree won’t make you ‘successful’ any more than a gym membership will make you ‘healthy,’ ” Rowe said. “I’m a fan of knowledge and fitness, but I reject the assumption that you have to go broke pursuing either one.”

He went over lists of trade jobs paying well over $100,000.

So before you break the bank on college, have a talk with your kid about what he or she wants to do, and work together to create a realistic plan to finance it all.