'When Men Don't Have Money, They're Just Less Attractive,' Says Professor Scott Galloway, As Men Without College Degrees Now Earn 22% Less

Men without college degrees are still earning significantly less than they did five decades ago, and the implications stretch far beyond just wages. 

In the debut episode of the "Lost Boys" podcast, co-host and professor Scott Galloway put it plainly: “When men don't have money, they're just less attractive. That's more of a hit to them than it is to women.”

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A Crisis of Purpose for Young Men

Galloway shared his own experience of growing up with limited prospects, saying that government programs and education helped change his trajectory. But he worries that today's safety nets are weaker. “Had I been that kid today, I worry the outcome would have been different,” he said.

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The “Lost Boys” podcast—hosted by Galloway and Anthony Scaramucci—dives into the broader struggles of young men, featuring author Richard Reeves. The group argues that young men today are falling behind not just economically but socially, and emotionally.

Reeves, who authored the book “Of Boys and Men,” noted that many young men today are adrift due to the absence of a clear path forward. "We tore up the old script for men, which was breadwinner, head of household, etc., and we didn't replace it with anything," Reeves said. “And so what that means is a lot of men now feel that they're basically improvising. They basically don’t have a script.”

The numbers back up their concerns. According to a May 2024 Pew Research Center analysis, young men between the ages of 25 and 34 without college degrees earned a median income of $45,000 in 2023. That's up 15% from 2014, but still 22% lower than what men of the same age earned in 1973 when adjusted for inflation.

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Doubts About the Value of a Degree Are Rising

“In the grand scheme of things, young, less educated men aren’t where they were 50 years ago,” Pew economist Richard Fry told CBS MoneyWatch. He added that in the 1970s, these men were more likely to be union members and work in manufacturing jobs—industries that have since shrunk.

Meanwhile, college graduates continue to outpace their peers in earnings and wealth. Young male college grads today earn around $77,000 annually, while women with degrees make about $65,000. College grads also have an average net worth of $120,000, compared to $31,000 for those with just a high school diploma.

“Higher education generates higher wealth,” Fry said. “Families with college-educated heads have a higher homeownership rate. And college-educated adults are more likely to have access to 401(k)s and 403(b)s.”

Still, Galloway argued that the issue isn't just about education. It's also about identity and purpose. “You really got to keep an eye on the boy,” he said, referencing how family breakdowns and economic instability can hit young men particularly hard. “They're actually weaker as humans.”

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Reeves pointed to the lack of male role models in schools, communities and even homes. “The teaching profession has become very gendered,” Reeves said. Only 23% of teachers today are men, down from 33% in the 1980s, he noted.

Despite some gains in the labor market for young men without degrees, both Pew’s data and the “Lost Boys” podcast underscore a growing concern: without direction, support and economic opportunity, many young men are at risk of falling further behind.

Half of Americans agree that college is worth the money only if you don't have to go into debt. According to Pew, just 22% of Americans believe a degree is a good investment if it requires borrowing.

That skepticism is strongest among Republicans, six in 10 of whom now believe a college degree is less important than it was 20 years ago.

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