Class of 2012,
I became sick of commencement speeches at about your age. My first job out of college was writing speeches for the governor of Maine. Every spring, I would offer extraordinary tidbits of wisdom to 22-year-olds—which was quite a feat given that I was 23 at the time. In the decades since, I’ve spent most of my career teaching economics and public policy. In particular, I’ve studied happiness and well-being, about which we now know a great deal. And I’ve found that the saccharine and over-optimistic words of the typical commencement address hold few of the lessons young people really need to hear about what lies ahead. Here, then, is what I wish someone had told the Class of 1988:
1. Your time in fraternity basements was well spent.
The same goes for the time you spent playing intramural sports, working on the school newspaper or just hanging with friends. Research tells us that one of the most important causal factors associated with happiness and well-being is your meaningful connections with other human beings. Look around today. Certainly one benchmark of your postgraduation success should be how many of these people are still your close friends in 10 or 20 years.
2. Some of your worst days lie ahead.Graduation is a happy day. But my job is to tell you that if you are going to do anything worthwhile, you will face periods of grinding self-doubt and failure. Be prepared to work through them. I’ll spare you my personal details, other than to say that one year after college graduation I had no job, less than $500 in assets, and I was living with an elderly retired couple. The only difference between when I graduated and today is that now no one can afford to retire.
3. Don’t make the world worse. I know that I’m supposed to tell you to aspire to great things. But I’m going to lower the bar here: Just don’t use your prodigious talents to mess things up. Too many smart people are doing that already. And if you really want to cause social mayhem, it helps to have an Ivy League degree. You are smart and motivated and creative. Everyone will tell you that you can change the world. They are right, but remember that “changing the world” also can include things like skirting financial regulations and selling unhealthy foods to increasingly obese children. I am not asking you to cure cancer. I am just asking you not to spread it.
4. Marry someone smarter than you are. When I was getting a Ph.D., my wife Leah had a steady income. When she wanted to start a software company, I had a job with health benefits. (To clarify, having a “spouse with benefits” is different from having a “friend with benefits.”) You will do better in life if you have a second economic oar in the water. I also want to alert you to the fact that commencement is like shooting smart fish in a barrel. The Phi Beta Kappa members will have pink-and-blue ribbons on their gowns. The summa cum laude graduates have their names printed in the program. Seize the opportunity!