Funny you should mention "engineering". With only trade school training and a few years working in electronics I actually scored me a job that had the title of "engineering tech." - I think some places around here want people with the smarts of a Master's degree, or whatever fits here, but they try to hire people without the degree so they can pay less $$. At least that has been the way with a couple of the larger companies I worked for. Gosh at one very large company (I wont name the name, but lets just say they are a very popular name of computer printers) I worked at, it seemed their engineers were all very good looking females that had only High School- Yet they were trained by the company to do, mainly time studies it seemed, and next called engineers. Around this area some high tech companies (the few around here) do not look for people with degrees because they do not want to pay higher wages, so they try to train high school grads instead. -Needless to say, it does not always work out for the companies or the employees.
Also I would like to point out that I feel it is great if a person can go back for higher education after 20 years out of High School. But for every person I know like this I can count about 10 others that could not hack it. Once again everything is relative to the lives we live and the people and experiences we know.
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