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New here and was wondering what everyone thought of a job paying 20.00 an hour? Is this a good salary now a days like it was ten years ago? does anybody make 20 an hour that can tell me their thoughts? Only reason I ask is because I have an option to go to school for a BA, or get a full time SECURE job making 20.00 an hour... benefits & 401K... in this economy would I be a fool to pass? Or will jobs like that come around often? I'm 25 by the way, Male.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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That depends entirely on where you are. In San Francisco or Seattle you would barely make it on that, withou rroomates sharing the rent. In much of the country you'd be above the median salary. In New York you couldn't afford the cardboard for a homeless camp without $30/hour.
Like bisjoe asked, which part of the country are you in?
And when you say secure, how secure? Is there potential for career growth?
If it's very secure, you can afford to live comfortably and there's a lot of opportunity for career growth, then take the job. You can always go to school p/t while working. Are you entry level? If so, that's a heck of a salary for most entry-level and I'd take it in heart beat if I had no job.
OTOH, who's paying for your BA? Where would you get your BA? From a top tier school or lower tier school? Personally, I would not go back to school for a BA unless it was being paid for completely and/or was at a top tier school. The investment in a BA from a low tier school (and sometimes top tier school), from what I have seen from friends and others, is not worth it in this economy, and may never be worth it again.
I live in northern california and it's no where near as expensive in my city as in SF or SAC. The BA would be paid for by myself through student loans. So basically I would be paying back the student loans. The job is secure in the sense that it has been around for over 60 years and is peaking right now in business. There is job growth that I believe would top out at around 30-32 an hour. It would probably take ten years, but at least there's something to look forward to. what do u guys think?
I think it's always good to have an education under your belt. What I might do if I were you is take the job, and take online courses with your local community college if you have no credits at all. Do you plan on staying in that area for a long time?
I live in northern california and it's no where near as expensive in my city as in SF or SAC. The BA would be paid for by myself through student loans. So basically I would be paying back the student loans. The job is secure in the sense that it has been around for over 60 years and is peaking right now in business. There is job growth that I believe would top out at around 30-32 an hour. It would probably take ten years, but at least there's something to look forward to. what do u guys think?
IMO, take the job. Maybe you can go back to school p/t while you work so you can diversify your skills and give yourself more options down the road. If you can make up to $30-32/hr. without a college degree, I think you need to take it. A bigger paycheck is why you'd be going to school after all, right? There's a little thing we economists refer to as opportunity costs. And I think the cost of giving up a $20/hr. job (potentially $32/hr. job) for a college degree that will leave you thousands in debt and no guarantee of a job is too great.
I live in northern california and it's no where near as expensive in my city as in SF or SAC. The BA would be paid for by myself through student loans. So basically I would be paying back the student loans. The job is secure in the sense that it has been around for over 60 years and is peaking right now in business. There is job growth that I believe would top out at around 30-32 an hour. It would probably take ten years, but at least there's something to look forward to. what do u guys think?
So you'd be starting at around $42k and topping out at about $62k 10 years later. That's not bad, but not incredibly impressive, either. If you accept the job, does your employer offer some sort of tuition reimbursement? Best of both worlds.
Don't forget that $62k ten years from now won't get you what $62k today will. Assuming a 3% inflation rate, you would need to make about $83k in ten years to have the same buying power as $62k right now.
Also keep in mind if you decide to switch careers down the road, you'll have more doors open for you with the degree than without.
It sounds like you should take the job and then try to make it work with part time school....best of both worlds that way.
Also, think about where you want to go 10 years from now? Will a BA degree help? Will it help in your current career trajectory? $40k isn't all that much, but is pretty decent for someone without a college degree and in this economy.
However, if you planned on going back to school for a more lucrative profession that is a pretty safe bet, then go to college. I say this because a bachelor in, say engineering, can garner get you $70k on the west coast in four years. That isn't a bad investment. There is inherent risk in ditching an assured job, but you are young, and presumably without dependents, so the risk is pretty low.
However, if the bachelor is less assured of a lucrative profession, then stick with you job and look for part time options. A college degree can be good for your career in the future. Better to have it than not, I say. But look for self-finance options, or tuition reimbursement through employers. Good luck!
Is this a good salary now a days like it was ten years ago?
Do you really have to ask this?? Doesn't matter if you're talking $20 or $100, of course it's not going to be like it was ten years ago.
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