Education's Value

Since you founded the UTC Scholar program, the company has spent more than $600 million paying for higher education for its employees. Has it been worth it?

“Categorically. Flatly. No argument. I think that's the best thing we ever did for employee benefits. Twenty-one thousand degrees have been earned, and 13,000 people are currently enrolled. It costs us $65 million a year. That's about 1% of UTC's operating income.

”Is it worth it? I guess I go back to my basic principle, which is education is definitely the most powerful force in life. Educated people are more thoughtful. They're more widely read. They're more alert to change. They're more confident.”

(George David, CEO of United Technologies, in “Boss Talk: Transformer in Transition; He Turned UTC Into Giant; Now, CEO George David Carefully Prepares Successor,” by J. Lynn Lunsford. Wall Street Journal: May 17, 2007. pg. B.1)