Scott M. Shaw joined Lincoln Tech in 2001 and currently serves as our President and Chief Executive Officer. Mr. Shaw has served on our Board of Directors from 2001 to 2006 and since July 2015. Prior to taking the position of President and Chief Executive Officer, Mr. Shaw served in the positions of President and Chief Operating Officer, Executive Vice President and Chief Administrative Officer, and Senior Vice President of Strategic Planning and Business Development of the Company. Prior to joining Lincoln, Mr. Shaw was a partner at Stonington Partners, Inc., where he had been since 1994. As a partner at Stonington, Mr. Shaw was responsible for identifying, evaluating and acquiring companies and then assisting in the oversight of these companies through participation on the board of directors of acquired companies. In addition, Mr. Shaw worked closely with senior management to develop long-term strategic plans, to evaluate acquisitions and new investment opportunities, to assist with refinancing, and to execute on the final sale of the company either to the public or to another company. Mr. Shaw also served as a consultant to Merrill Lynch Capital Partners Inc., a private investment firm associated with Merrill Lynch & Co., Inc., from 1994 through 2000. Mr. Shaw holds an M.B.A. from the Wharton School of Business and a B.A. from Duke University. His extensive financial and business management experience, long history with the Company, and deep knowledge of the industry continues to provide the Board of Directors with strong insights into the industry and its evolving landscape.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
This is a podcast from WOR Now more of the
WOR Saturday Morning Show and Larry Mante Welcome back. With
the rising cost of universities, a lot of people are
looking to tech schools. Scott Shaw is the president of
one of the best tech schools in the country, Lincoln Tech. Scott,
(00:22):
thanks for joining us.
Speaker 2 (00:23):
It's wonderful to be here.
Speaker 1 (00:24):
So what is behind that trend?
Speaker 2 (00:26):
Well, it is really amazing. I've been at Lincoln Tech
for twenty four years and we've never seen the growth
that we're seeing now. And it is because what you
just referenced it the younger generation has realized that maybe
college isn't the right thing for me, and so they're
looking for alternatives. And what's happened is, I think it's
tough to put it all together. But since COVID, you know,
people weren't in school, so then that's oarted causing the
(00:49):
question should I go to college. Then after COVID, there's
all this talk of student debt and how much there
is and how students have gone to college and have
this debt to pay off and some of them can't
even get jobs after going to college. And then you
add on to that fear and concern about ai. Is
AI going to take my job away? What should I
study when I'm in college? And then all of a sudden,
(01:09):
the students are on social media and they're seeing on
TikTok and other things young people like themselves in the trades,
showing them being welders, mechanics, electricians doing very everyday mundane
things that one would think. But people are fascinated to
watch their stories. And this is really driven I think
a lot of people and parents to wonder should my
(01:30):
son or daughter go to college or is there a
better alternative? And so a lot of them are looking
for something that's frankly, a little more real. There's something,
excuse me, that's very tangible. Every day they're doing something
with their hands and seeing the results, and not everyone
wants to sit in a cubicle, maybe behind a laptop
and not know where their information's going or what they're doing.
(01:51):
In the trades. You see it every day.
Speaker 1 (01:52):
And there's a couple of trends going on. Isn't there
that the cost of universities and for your colleges is enormous.
I mean, it just keeps growing, growing and growing, and
the salaries for someone getting into some of the tech
trades are going up and there's a demand.
Speaker 2 (02:08):
Oh, there's a huge demand. We have more employers than
we have students, and so that's a good formula for students.
It was the wages, as you just mentioned, are going up,
and these are good careers and there's things that you
can make a good living in them. And as you
apply yourself, like at any job, the more you do,
the better you'll become. The more certifications you have, the
more you can make. And it's a very fulfilling opportunity
(02:30):
for young people.
Speaker 1 (02:31):
And now let's talk specifically about Lincoln Tech. What do
you offer sure?
Speaker 2 (02:35):
So at Lincoln Tech, Well, first of all, next year
will be our eightieth anniversary gratulations, thank you. And we
started off in two technologies in nineteen forty six that
were new at that point. One was the automatic transmission
and the other was air conditioning. It was just starting
to be put into people's homes after the war, and
our founder, Warren Davies wanted to give other vets opportunities
to train, and so we offer these two careers. But
(02:57):
now we have three major areas that we serve. We
have about a third of our students in healthcare in
New Jersey with the largest provider of licensed practical nurses
as well as medical assistants. We also have about a
third in the skilled trades, which would be welding, electrical,
and HVAC, as well as an automation and machining program
as well in our MAWA campus. And then a third
(03:19):
of the students are in transportation, so that'd be a
diesel mechanic, an auto mechanic, or collision repair and all
three are seeing good demand across the board. And we
have campuses in twelve different states and we're seeing increase
in all those locations.
Speaker 1 (03:34):
And with computers and technical stuff, do you have that.
Speaker 2 (03:38):
We do have a small computer program, but that's really
not what we're known for. We're really known for working
with your hands, and that's what we're going to focus
on going forward.
Speaker 1 (03:47):
Which is what the growing trend is. That's what we
are looking for because they know that job's always going
to be here while other jobs may be replaced. Is
there one that's hotter than the other right now?
Speaker 2 (04:00):
Say that, certainly, electrical is probably the most popular, but
they're all growing, so I can't say that one's really
outstripping the other. There's just such a demand for all
of them because, as you may know, there's a lot
of changes taking place. Everyone's talking about AI. To supply AI,
you need data centers, you need a lot more electricity.
We need to redo our power grid out there. Also
(04:22):
the militaries looking to rebuild their submarine fleet. They want
to build three subs a year. They're anticipating that they'll
need a quarter of a million skilled trades people for that. Obviously,
our infrastructure, a lot of it was built in the
sixties and seventies and needs to be redone. I mean
here in this area, it's little Guardi Airport. It's a
beautiful airport. They're redoing JFK. But other things like that
(04:43):
need to be updated, and that all requires skilled trades people.
Speaker 1 (04:47):
What's amazing to me is I've been looking at the
stats for trade schools and for for year colleges and
people getting out and looking for jobs. It's becoming much
more difficult for people that have some of the degrees
when you get out of colleg they're in demand when
they come out of technical school, aren't they.
Speaker 2 (05:04):
For sure? As I said, we have employers that are
constantly coming on our campus trying to entice our students
to go to them because there just aren't enough students
out there to meet their needs. So it is a
great time to go into these fields.
Speaker 1 (05:18):
You're certainly more affordable than a four year college. We are,
but about how much I mean is how much it's
going to cost somebody.
Speaker 2 (05:24):
So we're going Our programs are probably twenty five thousand
to about thirty five thousand, and they last about a year.
But one year with Lincoln Tech is equivalent to going
to school for four semesters because our students really want
to get in and get out and get into the workforce,
so we don't have long summer breaks and holiday breaks,
and they're going to go to school more hours in
the week. That's why they can get so much education
(05:45):
in a shorter period of time.
Speaker 1 (05:47):
Because there is demand for what you teach. Do you
work with some of the employers in the area.
Speaker 2 (05:54):
Oh, absolutely, And in fact, we have employee partnerships on
a national scale, such as with Johnson Controls with the
largest trainer of Tesla technicians out there, and other companies
like that large OEMs. But also locally, we deal with
thousands of companies and we bring them onto our campus
for career Days and meet with students as well as
(06:14):
we bring twice a year employers into talk to our
education folks. We want to make sure that the curriculum
that our students are learning can be applied on day
one we're on the job, so we're constantly updating what
our curriculum is, getting rid of things that no longer
are needed, but also looking to the future and what's
going to enable our students to remain strong and vibrant
(06:35):
in their career.
Speaker 1 (06:36):
I'm sure there's going to be some people, maybe some
parents and kids listening to this that think this is
the right path for them. How do they get a
hold of you or how do they get hold of
Lincoln Tech?
Speaker 2 (06:46):
Well, the best way is to learn more at Lincoln
Tech dot edu. We have a lot on our website.
They're videos, testimonials from students, employers, even some of our
faculty members. It's a great way to figure out who
we are. And then I encourage people to go to
the campus. Is that's really where the magic happens.
Speaker 1 (07:02):
How does someone know in their life or do they
know instinctively because you know your student's probably better than anyone.
How does someone know if they're right for this.
Speaker 2 (07:12):
Well, to be honest, there's a range of students. There's
some that have always thought I want to be a
mechanic or want to do something as my father or
uncle did it, so they come in with a clear understanding.
Others have heard from their friends that have gone to
Lincoln Tech that they've had a successful career, but they
may be not quite sure which of these careers they
should pursue. So they come in, they look at what
we have to offer, they speak to our admissions people.
(07:34):
They'll give them some guidance. But it's really a range
of people that are coming to us, and we work
with a lot of adults. The average age of our
students twenty five, but half of our students are twenty
one and younger, so we're serving a very broad mix
of people.
Speaker 1 (07:48):
A lot of Lincoln Techs in the New York area.
Speaker 2 (07:50):
A lot of Lincoln Techs in the New York area.
We have six campuses in New Jersey. We have a
campus in Queen's and we're opening up a new campus
in Hicksville, Long Island. So this is are kind of well,
Lincoln started in Newark, New Jersey, so this is our home.
Speaker 1 (08:04):
Okay, just one more time. Give the website for sure,
because I'm sure people will be interested.
Speaker 2 (08:08):
So it's Lincoln Tech with a T, E c H
dot edu.
Speaker 1 (08:12):
Wonderful. Thank you so much for being with us today.
Speaker 2 (08:14):
Thank you, I really appreciate it.
Speaker 1 (08:16):
Scott Shaw, President and CEO of Lincoln Tech. This has
been a podcast from WR
This is a podcast from WOR Now more of the
WOR Saturday Morning Show and Larry Mante Welcome back. With
the rising cost of universities, a lot of people are
looking to tech schools. Scott Shaw is the president of
one of the best tech schools in the country, Lincoln Tech. Scott,
(00:22):
thanks for joining us.
Speaker 2 (00:23):
It's wonderful to be here.
Speaker 1 (00:24):
So what is behind that trend?
Speaker 2 (00:26):
Well, it is really amazing. I've been at Lincoln Tech
for twenty four years and we've never seen the growth
that we're seeing now. And it is because what you
just referenced it the younger generation has realized that maybe
college isn't the right thing for me, and so they're
looking for alternatives. And what's happened is, I think it's
tough to put it all together. But since COVID, you know,
people weren't in school, so then that's oarted causing the
(00:49):
question should I go to college. Then after COVID, there's
all this talk of student debt and how much there
is and how students have gone to college and have
this debt to pay off and some of them can't
even get jobs after going to college. And then you
add on to that fear and concern about ai. Is
AI going to take my job away? What should I
study when I'm in college? And then all of a sudden,
(01:09):
the students are on social media and they're seeing on
TikTok and other things young people like themselves in the trades,
showing them being welders, mechanics, electricians doing very everyday mundane
things that one would think. But people are fascinated to
watch their stories. And this is really driven I think
a lot of people and parents to wonder should my
(01:30):
son or daughter go to college or is there a
better alternative? And so a lot of them are looking
for something that's frankly, a little more real. There's something,
excuse me, that's very tangible. Every day they're doing something
with their hands and seeing the results, and not everyone
wants to sit in a cubicle, maybe behind a laptop
and not know where their information's going or what they're doing.
(01:51):
In the trades. You see it every day.
Speaker 1 (01:52):
And there's a couple of trends going on. Isn't there
that the cost of universities and for your colleges is enormous.
I mean, it just keeps growing, growing and growing, and
the salaries for someone getting into some of the tech
trades are going up and there's a demand.
Speaker 2 (02:08):
Oh, there's a huge demand. We have more employers than
we have students, and so that's a good formula for students.
It was the wages, as you just mentioned, are going up,
and these are good careers and there's things that you
can make a good living in them. And as you
apply yourself, like at any job, the more you do,
the better you'll become. The more certifications you have, the
more you can make. And it's a very fulfilling opportunity
(02:30):
for young people.
Speaker 1 (02:31):
And now let's talk specifically about Lincoln Tech. What do
you offer sure?
Speaker 2 (02:35):
So at Lincoln Tech, Well, first of all, next year
will be our eightieth anniversary gratulations, thank you. And we
started off in two technologies in nineteen forty six that
were new at that point. One was the automatic transmission
and the other was air conditioning. It was just starting
to be put into people's homes after the war, and
our founder, Warren Davies wanted to give other vets opportunities
to train, and so we offer these two careers. But
(02:57):
now we have three major areas that we serve. We
have about a third of our students in healthcare in
New Jersey with the largest provider of licensed practical nurses
as well as medical assistants. We also have about a
third in the skilled trades, which would be welding, electrical,
and HVAC, as well as an automation and machining program
as well in our MAWA campus. And then a third
(03:19):
of the students are in transportation, so that'd be a
diesel mechanic, an auto mechanic, or collision repair and all
three are seeing good demand across the board. And we
have campuses in twelve different states and we're seeing increase
in all those locations.
Speaker 1 (03:34):
And with computers and technical stuff, do you have that.
Speaker 2 (03:38):
We do have a small computer program, but that's really
not what we're known for. We're really known for working
with your hands, and that's what we're going to focus
on going forward.
Speaker 1 (03:47):
Which is what the growing trend is. That's what we
are looking for because they know that job's always going
to be here while other jobs may be replaced. Is
there one that's hotter than the other right now?
Speaker 2 (04:00):
Say that, certainly, electrical is probably the most popular, but
they're all growing, so I can't say that one's really
outstripping the other. There's just such a demand for all
of them because, as you may know, there's a lot
of changes taking place. Everyone's talking about AI. To supply AI,
you need data centers, you need a lot more electricity.
We need to redo our power grid out there. Also
(04:22):
the militaries looking to rebuild their submarine fleet. They want
to build three subs a year. They're anticipating that they'll
need a quarter of a million skilled trades people for that. Obviously,
our infrastructure, a lot of it was built in the
sixties and seventies and needs to be redone. I mean
here in this area, it's little Guardi Airport. It's a
beautiful airport. They're redoing JFK. But other things like that
(04:43):
need to be updated, and that all requires skilled trades people.
Speaker 1 (04:47):
What's amazing to me is I've been looking at the
stats for trade schools and for for year colleges and
people getting out and looking for jobs. It's becoming much
more difficult for people that have some of the degrees
when you get out of colleg they're in demand when
they come out of technical school, aren't they.
Speaker 2 (05:04):
For sure? As I said, we have employers that are
constantly coming on our campus trying to entice our students
to go to them because there just aren't enough students
out there to meet their needs. So it is a
great time to go into these fields.
Speaker 1 (05:18):
You're certainly more affordable than a four year college. We are,
but about how much I mean is how much it's
going to cost somebody.
Speaker 2 (05:24):
So we're going Our programs are probably twenty five thousand
to about thirty five thousand, and they last about a year.
But one year with Lincoln Tech is equivalent to going
to school for four semesters because our students really want
to get in and get out and get into the workforce,
so we don't have long summer breaks and holiday breaks,
and they're going to go to school more hours in
the week. That's why they can get so much education
(05:45):
in a shorter period of time.
Speaker 1 (05:47):
Because there is demand for what you teach. Do you
work with some of the employers in the area.
Speaker 2 (05:54):
Oh, absolutely, And in fact, we have employee partnerships on
a national scale, such as with Johnson Controls with the
largest trainer of Tesla technicians out there, and other companies
like that large OEMs. But also locally, we deal with
thousands of companies and we bring them onto our campus
for career Days and meet with students as well as
(06:14):
we bring twice a year employers into talk to our
education folks. We want to make sure that the curriculum
that our students are learning can be applied on day
one we're on the job, so we're constantly updating what
our curriculum is, getting rid of things that no longer
are needed, but also looking to the future and what's
going to enable our students to remain strong and vibrant
(06:35):
in their career.
Speaker 1 (06:36):
I'm sure there's going to be some people, maybe some
parents and kids listening to this that think this is
the right path for them. How do they get a
hold of you or how do they get hold of
Lincoln Tech?
Speaker 2 (06:46):
Well, the best way is to learn more at Lincoln
Tech dot edu. We have a lot on our website.
They're videos, testimonials from students, employers, even some of our
faculty members. It's a great way to figure out who
we are. And then I encourage people to go to
the campus. Is that's really where the magic happens.
Speaker 1 (07:02):
How does someone know in their life or do they
know instinctively because you know your student's probably better than anyone.
How does someone know if they're right for this.
Speaker 2 (07:12):
Well, to be honest, there's a range of students. There's
some that have always thought I want to be a
mechanic or want to do something as my father or
uncle did it, so they come in with a clear understanding.
Others have heard from their friends that have gone to
Lincoln Tech that they've had a successful career, but they
may be not quite sure which of these careers they
should pursue. So they come in, they look at what
we have to offer, they speak to our admissions people.
(07:34):
They'll give them some guidance. But it's really a range
of people that are coming to us, and we work
with a lot of adults. The average age of our
students twenty five, but half of our students are twenty
one and younger, so we're serving a very broad mix
of people.
Speaker 1 (07:48):
A lot of Lincoln Techs in the New York area.
Speaker 2 (07:50):
A lot of Lincoln Techs in the New York area.
We have six campuses in New Jersey. We have a
campus in Queen's and we're opening up a new campus
in Hicksville, Long Island. So this is are kind of well,
Lincoln started in Newark, New Jersey, so this is our home.
Speaker 1 (08:04):
Okay, just one more time. Give the website for sure,
because I'm sure people will be interested.
Speaker 2 (08:08):
So it's Lincoln Tech with a T, E c H
dot edu.
Speaker 1 (08:12):
Wonderful. Thank you so much for being with us today.
Speaker 2 (08:14):
Thank you, I really appreciate it.
Speaker 1 (08:16):
Scott Shaw, President and CEO of Lincoln Tech. This has
been a podcast from WR
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