Is $40K/yr too much or too little for a recent graduate with a Masters? (average, degree)
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Just need a reality check here.. this is a job I've been at for a little over a year.. took it out of desperation at the time but currently looking for something better paying (hopefully.)
Some key facts:
- This is in California where the cost of living is well above average.
- This is a technical job, involving computers, higher level math/statistics.
- Work hours is about 50/week.
- This is an entry-level job.
Just need a reality check here.. this is a job I've been at for a little over a year.. took it out of desperation at the time but currently looking for something better paying (hopefully.)
Some key facts:
- This is in California where the cost of living is well above average.
- This is a technical job, involving computers, higher level math/statistics.
- Work hours is about 50/week.
- This is an entry-level job.
Can you find a higher paying job in the next year? If yes, then it may be too little.
Can you be replaced by someone who will do your job for less money? If yes, then it may be too much.
What is the job? What experience do you have before your masters? These are just some of the things you will need to state before anyone can give you any kind of idea if the salary is too low or on par. Saying the job involves computers is about as ambiguous as a description can come.
The job doesn't care what your educational experience or job experience is. It is what it is. If it's a job targeted at new graduates (bachelor's, not master's), 40k sounds about right. A company willing to hire someone with a related master's for a position for entry-level college graduates either expects you to advance quickly or expects high turnover.
Being there a little over a year, I'd start dropping hints that you're interested in advancing. A lot of times corporate culture is that you have to express interest and/or negotiate for advancement. Other places have scheduled tracks that are clearly spelled out.
We would need more details, but that would not be enough for me.
I graduated college in 2008 and my starting salary (with only a bachelors, not a master's) was over 35% more than that. I also live in an area with a much lower cost of living. I am not sure if my experience is representative of anything, but I would be actively looking for something more if I were you
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These days I'd say that you are lucky to have found a $40,000 job, and even in CA a single person should be able to manage for a while on that.
On the other hand, I know people with a BS right out of college starting at $60,000 in engineering. Some companies are taking advantage of the job market to save money by paying less. Use this as a way to gain experience, then start looking around for something better.
We would need more details, but that would not be enough for me.
I graduated college in 2008 and my starting salary (with only a bachelors, not a master's) was over 35% more than that. I also live in an area with a much lower cost of living. I am not sure if my experience is representative of anything, but I would be actively looking for something more if I were you
And my first salary out of school was less.
One could say that I worked with computers with a degree of math/statistics applied.
What one job pays versus another is highly dependent on many factors. If you are a developer hnsq then not every job involving "computers with math/statistics" will be paid similar to a developer in demand.
I find it rather-- interesting that this job sounds on the onset very entry level where more than likely a masters is not really needed. Most developers or engineers I know would never say-- when asking about salary-- hi I am getting an offer for 40k for a job with computers and math/stats.
I got $65k plus $25k bonus out of college, entry-level. But I graduated well before the recession and went to a top 10 college.
Funny that I now make half as much with a doctorate. Unless it's an engineering masters or an MBA, a masters by itself won't get you that much more leverage in salary.
I think $40k-$60k with a non-engineering BS or Masters is fair in this economy.
There is a simple answer to this. Can you get another job that pays more? If not, you aren't underpaid.
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