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Your results aren't typical of anyone. $160k/yr is a very high income, even for senior engineers, etc.
How do you have any clue at all what I do?
My results are very typical for someone with my experience and my qualifications. Hence the reason I get job offers all the time and make less than most all of my friends with my experience that also do what I do...
I have a very hard time staying where I'm at because there are tons of other jobs out there, many of which pay more.. I like my job security and company where I'm at.. at the moment.. However for another 30k-40k which I could definitely find if I really looked hard, I would probably leave.. I guess I'm getting a bit complacent for a while.
My results are very typical for someone with my experience and my qualifications. Hence the reason I get job offers all the time and make less than most all of my friends with my experience that also do what I do...
I have a very hard time staying where I'm at because there are tons of other jobs out there, many of which pay more.. I like my job security and company where I'm at.. at the moment.. However for another 30k-40k which I could definitely find if I really looked hard, I would probably leave.. I guess I'm getting a bit complacent for a while.
Isn't a lot of your income based soley on per diem and car allowance? It's certainly not typical for someone with a 90k base to get another 70k from per diem/travel meals etc. I believe you have said if you took a perm job where you had limited travel youd take a paycut
Interesting article...if I were a younger person and wanting to enter the job market, I would invest in a tech college or community college and get training in a needed field rather than spin my wheels trying to get a job with a degree in a field with few jobs.
Plumbers, electricians, Master mechanics, HVAC specialists, roofers, etc. will always be needed in our world -- and these hands-on jobs cannot be exported and done overseas.
Just my two cents worth.
I sure wouldn't go into thousands of dollars of school loan debt to obtain a degree that might not get me a job.
When I was doing a remodel in my old house and was just sick of doing work, I decided to get a quote from a plumber to install my sink and toilet (I was tired and just wanted it done). When I the plumber gave me his quote, I told him that I couldn't afford to have him do it since I wasn't a plumber.
There are plenty of job fields that don't require a four year degree which can provide very good livings.
And like you said, you can't get someone on a phone in India to fix your leaking pipes.
A lot of that debt must be private student loans that don't offer IBR since that's well over the federal loan max.
I think the federal loan max is closer to 150k, or at least it is for graduate students. I had several friends who graduated with six-figure debt. Some of them actually opted for private loans, because most private loans at the moment have a much lower interest rate than federal loans, due to the LIBOR rate being so low at the moment, and it will stay low for so long as the Fed's current policies continue.
However, despite the higher interest rates (which are set to go even higher next year) federal repayment options are far more generous, and it is very easy to go on deferment or forbearance if you are unemployed, have financial hardships, etc. I also wouldn't be surprised if many private loans have prepayment penalties for paying off the loans in advance.
All this being said, Obama's "Pay as You Earn" repayment plan is a sham. Since payments are determined independently from the rate at which interest accrues, for a lot of people their payments aren't enough to pay down interest. Loans can be forgiven after 20 years (15 if working in public service) but the remaining unpaid debt will be added to your taxable income for that year. Not many people know this.
I read an article similar to this recently trying to empower the millennia generation. We know what the problem is, but the solution is undoubtedly obvious, and people just sit there and allow for corruption to invade their own personal freedom and fair and equal economic attainment.
Injustice and power corrupts. People need to make a stance and demand a change, but they're too controlled by their own fears, because they don't have jobs and are in one of the worst generations of student loan debt (myself included). We can complain all we want, but what are we going to do about it?
Of course they are broke and it is going to get MUCH worse. My kid is going to have $100K debt when he gets out of college with his 4 year degree. My debt was $0. I have no idea how kids are going to have a good life if they are starting out with that kind of debt! Crazy!
What were you thinking?!
I'm now debt-free 2 years out of college - paid it off myself. A few ways I saved a lot of money:
Go to a community college for your first 2 years. The cost is usually very low, and you can live at home. Community college has the bonus of often being easier, so you can get a very good GPA and hold a part-time job to cover at least your community college costs. At a CC you will get all of your GE classes out of the way, and perhaps even get an AA degree (like I did). There's no reason to pay tens of thousands a year to a 4-year university just for GE classes which transfer right in!
Transfer from that community college into a cheap but good quality state school as a junior transfer. With your good GPA it should be easy to get into any one you want.
Now at school, focus on cutting costs and even earning some side income. Make your own meals and avoid the overpriced mealplan. Don't buy textbooks from the university bookstore - buy used or even share with classmates or use the campus library. Get a paid internship (may require first having a free internship, like I did).
Focus on doing well with your studies such that you can graduate on time with a good job, not on partying.
I just can't understand why people are so focused on the "college experience" at a 4-year university for the first 2 years of school, when that time is putting you in debt for much of your adult life. It's insanity.
Isn't a lot of your income based soley on per diem and car allowance? It's certainly not typical for someone with a 90k base to get another 70k from per diem/travel meals etc. I believe you have said if you took a perm job where you had limited travel youd take a paycut
Yes, a lot of it is, but still not all of it. If I was to get a permanent job with limited travel I'd probably be at around 110k-120k or so.. But beings I am young, I'd rather take the extra 40k right now to save and invest and travel. In 5-6 years when I have a massive savings/investments I'll get a permanent job and take a paycut. Then I'll have more experience so it will be less of a pay cut.
Even still at 120k is pretty good, and my travel expenses are nearly nothing that a normal person doesn't pay.
My truck allowance pays for my personal truck, so that is money in my pocket and I'd have my truck regardless of this job or a permanent job (I don't even need a truck, they'd give it to me if I had a $500 car). My per diem ($2800/mo) goes towards "living expenses." Well, my apartment is $705/mo, so most of it is just extra income.
I have never stayed in a hotel for a job or anything, so all my extra "tax free" money I get, basically goes into my pocket, because they are all expenses I would have anyways.
Heck, some people travel M-F and live in hotels and all that garbage. I'm at my current job for 10-11 months, and my last job was 11 months.. So it's not like I'm moving week to week or even month to month.
But, like you said, part of my pay is still due to my "travel" yet my travel expenses are nothing that a normal person doesn't pay.
That was the case two years ago, I think it's getting better now, but of course if you've got a degree in underwater basket weaving you're SOL regardless!
Oh don't get me wrong, "bad majors" are a problem. The issue is we went from the era of ANY degree from ANY institution was good to now you have to look at nursing, computer or engineering majors to really get a good paying job from your 4/5 years in college. The problem is universities and high school teachers and guidance counselors still perpetuate the lies of "just go to college, the major don't matter just get the sheepskin" to juniors and seniors. It's only since the 2009 or 2010 graduating classes that students should have known there are bad majors out there that won't help employment (in many cases.) But as I mentioned if schools continue to profess their "any college is a good idea" and parents don't help, the students themselves wont really know to check major viability and costs. Some will, most wont.
Oh don't get me wrong, "bad majors" are a problem. The issue is we went from the era of ANY degree from ANY institution was good to now you have to look at nursing, computer or engineering majors to really get a good paying job from your 4/5 years in college. The problem is universities and high school teachers and guidance counselors still perpetuate the lies of "just go to college, the major don't matter just get the sheepskin" to juniors and seniors. It's only since the 2009 or 2010 graduating classes that students should have known there are bad majors out there that won't help employment (in many cases.) But as I mentioned if schools continue to profess their "any college is a good idea" and parents don't help, the students themselves wont really know to check major viability and costs. Some will, most wont.
Largely because they have a vested interest in maintaining their own field of employment.
I read an article similar to this recently trying to empower the millennia generation. We know what the problem is, but the solution is undoubtedly obvious, and people just sit there and allow for corruption to invade their own personal freedom and fair and equal economic attainment.
Injustice and power corrupts. People need to make a stance and demand a change, but they're too controlled by their own fears, because they don't have jobs and are in one of the worst generations of student loan debt (myself included). We can complain all we want, but what are we going to do about it?
The issue with corruption is the options on the ballot. The Republicans even Tea Party is aided heavily by PAC and Super PAC funding, the Democrats are to a lesser extent BUT they do placate donors. I've seen MUCH MORE PAC and Super PAC funded election commercials for the Arizona US House, Arizona Governor and other local races during the primary and proper election cycle these past few months. The fact is corporate America owns politics whether it is swaying your vote or your congressional representative's votes.
As for fearing for their jobs do you blame them? Many places have the "take it or leave" logic these days so they are looking for ANYTHING to let you go on.
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