These are partly functions of supply. If every English major spontaneously switched to engineering, it would be a very different story. We might just find a dearth of people who know how to write.
Implicit in the demand for coders is the demand for coders of X caliber willing to work at Y price. Getting lots of people to switch to STEM majors and careers will certainly increase the supply of coders, but it also seems like it would decrease the quality. Marginal coders won’t necessarily be able to find work at any price and might wish in the end that they had just majored in English. If we make sweeping encouragements for people to major in STEM who probably have no business doing so, they won’t be any better off. If anything, it makes everyone else worse off. A STEM major is neither a necessary nor a sufficient condition for a “good” job, even in technology-related fields. It might help the right person already predisposed to that sort of career, assuming he even wants it in the first place.
Law yes, business and finance, no. Having an MBA is nice for a certain track for some kinds of corporations, but in general, it is not exactly necessary to start out, certainly not as a trader or something.
Or you can get an undergrad degree in whatever you want and still learn useful and valuable skills. Lawyers in IP do pretty well for themselves, yes. So do lawyers not in IP.
Now that’s laughable. Whether Google is hiring a few hundred or a few thousand makes no difference. It is still a vanishing fraction of the size of the labor pool of new graduates. The vast majority of STEM majors are never going to work for a top-tier company doing high-powered work.
Many seem to end up in IT. You don’t need to major in business to end up working for a corporation, and it sure seems you don’t have to major in computer science or engineering to work in IT. A good friend of mine is an IT director for a hedge fund. He’s done pretty well for himself as a philosophy major.
My personal view is that no matter what you major in, as an educated person in a complicated world, everyone should learn how to write a little code, read a foreign language or two, do some calculus, and learn how to write. Thankfully there are some places where you can still get a liberal arts education, right?
So what exactly are you suggesting then? Are you suggesting that people who like STEM should major in it? That is not exactly controversial.
And people can get good, well-paying jobs using skills that they do not necessarily learn in school, too. People do perfectly well getting jobs in marketing without having to major in it. It’s usually better that they don’t.