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i fit into this category, but as i chat with more and more people and even interview candidates, i realize there is an overwhelming number of young adults that are 100k+/annual salary by age 25. keep in mind i went to a very popular high ranked college in texas and live in texas too. i feel like everyone i personally know that has graduated with an engineering, computer sci, or business bachelor degree is making 6 digits by age 25. it's crazy, people graduate with like 80k starting salary in entry level jobs here. keep in mind they are smart people and have a reputable degree
thinking back, my parents born in the mid 1900s didn't make 6 digits until like age 35-40+. so based on this, in 20 years, will undergraduates have their first job after graduation pay 6 digits?
i fit into this category, but as i chat with more and more people and even interview candidates, i realize there is an overwhelming number of young adults that are 100k+/annual salary by age 25. keep in mind i went to a very popular high ranked college in texas and live in texas too. i feel like everyone i personally know that has graduated with an engineering, computer sci, or business bachelor degree is making 6 digits by age 25. it's crazy, people graduate with like 80k starting salary in entry level jobs here. keep in mind they are smart people and have a reputable degree
thinking back, my parents born in the mid 1900s didn't make 6 digits until like age 35-40+. so based on this, in 20 years, will undergraduates have their first job after graduation pay 6 digits?
Only 6% of American earn 100K or more, and I doubt most of them are in their twenties, as this percentage has not been growing. These people also live all over the country, even in NYC, SF, and DC most people earn far less than that. You are misinformed if you believe an overwhelming number of young adults earn that much. 75% of Americans earn less than 50K, and 50% earn less than 25K.
Hmmm...
Up Here they talk of young college grads who come out with an average of $25k-$30k in student loan debt and are LUCKY if they can get a $25K/year job! AND cannot afford their student loans, let alone rent or a mortgage.
Yes, here, at least, wages have "flatlined" since about 1985-1990. My spouse and I would KILL to make $100K/year. At any three jobs combined. I also could not go to a "highly rated college", had to settle for the local college...but I had relatively little in student loan debt {SLD}. I wonder how much SLD the O.P. has to pay off? MAYBE $100k is NEEDED to pay off $150K-$200K, or even just $50K in SLD. Or did wealthy parents pay for it?
I also find it interesting that the O.P. has "800 friends" all of whom make 6 figures each. I don't think in my whole life {I'm 51} I've had 800 "friends" total-let me see that would be over 15 NEW friends each year of my life...but thanks to "facebook followers" or other kinds of "tech friends", the O.P. Does! {we never had such a thing way back in those dark ages...a phone alone required finger dialing}. How DOES one find time to keep up with 800 people??? DOES one really know one's "followers"? Lets see...800- thats breakfast/lunch or dinner with at least 2 people per day for a whole year NOT ever having another meal with the same person again for a whole year...One WOULD need $100K alone to eat out that many times! ANd my, just a 2 minute "conversation" {with just one} of the "800 friends" per day would require over 26 hours per week, just to "catch up" with all 800!!!
In short, I am glad {or is that "pleased"?} for the O.P. who has such a good income and so manyclose friends! A NEW generation of friended Millionaires is coming up! Amazing!
NOT sour grapes,mind you, but just interesting...
I don't ask my friends what they make. You can generally guess based on their occupation, where they live etc. Salary isn't everything. My salary is probably better than about 80% of my millennial cohort, but my extras (I actually have a 401k and a pension, good yet inexpensive health insurance etc.) are probably better than about 90+% of my peers.
$100k however, is that invisible holy grail that signifies that you've "made it"; at least in a moderate COL area. Unless you're in STEM, sales or the trades, $100k is often a sign that you are in or close to being in a management role.
You... know the salaries of 600 different people, do you? People you know from the Facebook, and believe that they were totes honest with you?
Yea seriously, I only know the salaries of a fraction of my facebook friends and only the ones I have worked with. How can you know the salaries of all 600-800 friends? As someone else pointed out previously, only 6-7% of Americans earn a personal income of 100k or more and only 20% of households earn that much or more. Most of these salaries are also earned by people over the age of 25. Don't take my word for it; all of this data has been released by the IRS.
i fit into this category, but as i chat with more and more people and even interview candidates, i realize there is an overwhelming number of young adults that are 100k+/annual salary by age 25. keep in mind i went to a very popular high ranked college in texas and live in texas too. i feel like everyone i personally know that has graduated with an engineering, computer sci, or business bachelor degree is making 6 digits by age 25. it's crazy, people graduate with like 80k starting salary in entry level jobs here. keep in mind they are smart people and have a reputable degree
thinking back, my parents born in the mid 1900s didn't make 6 digits until like age 35-40+. so based on this, in 20 years, will undergraduates have their first job after graduation pay 6 digits?
i broke the 6 figure mark when i made $120k when i was 26 years old way back in the 90s. i was in software engineering. it was definitely a lot more than my friends at the time.
today, entry level software engineers at my company make over $100k. these are 21 year old kids fresh out of undergrad. most of them went to top schools but not all (mostly Cal, stanfurd, mit, michigan, illinois, etc.).
in texas, if you studied computer science at Rice, you can start with over $100k.
but this is software engineering. other fields will vary.
I think it depends on the company too. A non profit will pay less than for profit. I work at a non profit with several mit engineers and they could make more somewhere else. sometimes a companies mission is more attractive I guess. Liberals. Lol.
It's all relative. Someone in San Francisco might make 100K at 25, but after paying the outrageous cost of living, they have barely anything to put into savings. Even so, I'm guessing the majority of college grads start at MUCH less than that.
I'm pretty close to that number on my own and in a low cost of living area, but after mortgage and student loans for a combined 12 years of college (including wife), it really doesn't carry as far as you'd think.
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