Even white collar wages are largely stagnant, yet the costs to get those white collar jobs are insane.
In 2006, an MBA from HBS had a total tuition of around $75,000 [0] and net you a $140,000 TC job [1].
In 2024, an MBA from HBS has a total tuition of $170,000 [2] and net you a $200,000 TC job [3].
If this is the situation at Harvard Business School, imagine at other programs or universities who don't have as many doors open. Hell, I haven't even factored housing in the tuition numbers above.
We've entered the same trap Germany and France was in during the 2010s and Japan in the 2000s. For a lot of young people, there's no point even trying if you are still stuck.
Either you spend inordinate amounts of money to tread water and attempt to start a career, or you don't and just remain a NEET. Either way you're unable to hit traditional milestones until you late 30s if you're able to somehow get back on track.
[0] - https://www.hbs.edu/about/annualreport/Documents/2006/HBS-An...
[1] - https://www.alumni.hbs.edu/stories/Pages/story-bulletin.aspx...
[2] - https://www.hbs.edu/mba/financial-aid/tuition-assistance/Pag...
[3] - https://www.hbs.edu/recruiting/employment-data/Pages/default...