In the United States, more and more young people are questioning whether a four-year college degree is the only path to having a successful career. Rising tuition costs, student debt, and uncertainty about the job market have led many Americans to look for alternatives that offer independence and the chance to build something of their own.
That is the case of Jacob Palmer, a young man from Concord, North Carolina, who didn’t pursue a college career and instead bet on himself. “I was a good student,” he told Fortune. But when classes moved online during the pandemic, everything changed. “It felt very intangible,” he said. “I hated it.”
The decision to leave college was what drove him to become a successful young business owner at just 21 years old.
What was the decision that changed his life?
After leaving college, Palmer worked at a FedEx warehouse and later at a factory in rural Virginia. The turning point came when his mother was installing a hot tub and mentioned that the electrician was “super passionate and loved his job.” Palmer liked that the young man worked for himself.
He soon became a full-time apprentice at a small Charlotte company, earning $15 an hour. “I spent a few years just untangling the extension cords and doing the grunt work,” he said. That’s where he got some of the most important knowledge that he then used to start his own business.
From apprentice to business owner
Palmer passed his licensing exam in January 2024 and, a month later, at 21, opened his own company, Palmer Electrical. That year, it brought in nearly $90,000. In 2025, revenue almost doubled to $175,000, and he set a goal of $250,000 for 2026.
“I’m a one-man, one-truck operation,” he said. His first jobs came from friends, family, and neighbors, and then word-of-mouth referrals began to grow.
Most important for him, he has no student loans. “I don’t owe anybody anything,” he said.
Palmer is part of a wider trend. According to the Bureau of Labor Statistics, jobs for electricians are expected to grow by 11% between 2023 and 2033, much faster than the 4% average for all jobs, as projects like AI data centers drive demand.