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Depends on what college they went to. If you're talking about online school, sure, many are making below $35k. If you are talking reputable 4-year institutions, say, Big 10 schools, I guarantee at least half are making at least $45-50k base salary straight out of school. People in higher paying fields like computer science, engineering, medical, business, etc. are probably starting at at least $60k entry level. It's not unlikely that if they are competent and stick with it they could be making 6 figures by their late 20s. I often wish I had started out in my current field straight from the get-go. I'm sure I'd be well into the six figures by now. That said, I went into a lower paying field initially and then went back to school to switch careers after about 10 years in my first profession. I'm sure it set me back a bit financially from where I would be otherwise, though I don't really regret my decision.
BTW, I repped you just for your user name.
This is very true which is why I find it kind of hard to believe that these early twenty year olds are making 6-figures. There may be some that earn that much (I am 26 and apparently a guy I went to high school with got a job at Goldman-Sachs for 300k, not sure if I believe it), but I don't think it is nearly as common as the OP is claiming.
My son just graduated with a computer science degree and had a $90K position locked up before his final semester. He's not in Silicon Valley, but not far from it and a pretty high COL - $2300 for a 1BR. He just turned 22.
My son just graduated with a computer science degree and had a $90K position locked up before his final semester. He's not in Silicon Valley, but not far from it and a pretty high COL - $2300 for a 1BR. He just turned 22.
The point is that people in his position are in the 0.001% of young professionals. Furthermore, it has more to do with luck than anything.
I ask them. Some of these people I have known for years.
They are mostly working in i banking and other elite things
I don't make that much less (70k) My job is pretty stable unlike some of their jobs.
If any of that is true, congrats. Your fate could have been much worse, with a little less luck or fortune.
Only a handful of people who major in bull crap actually get jobs in bull crap.
My own 2 cents.
By the way, you sound a tiny bit stuck up. Just saying. Aren't there more important things to judge someone by, rather than how little their job contributes to society to paycheck ratio?
The point is that people in his position are in the 0.001% of young professionals. Furthermore, it has more to do with luck than anything.
It's all relative to where the job is. As JTGJR pointed out a one bedroom costs $2300, 90K a year doesn't quite go as far in a place like that. I have never been to Atlanta so I am not sure what the COL is, but I find it hard to believe that it is higher than the Bay Area where new grads aren't receiving six figures.
I'm in my mid-20s and did receive a $100k contract job offer recently, although turned it down. It's not impossible for someone in their early or mid-20s to make $100k but I can't imagine them receiving such an opportunity without at least several years of experience in a lucrative profession.
I'm in my early 20's and make what I would think to be average for the area $45k-$55k. Had I taken the consulting route, their starting salary is $75k, 2 years in $90k, 2 years after that $100k+. The only person I can think of that came close to $100k fresh out of college was a drilling engineer. I believe he was right around $93k, may be over $100k by now..not sure. He'd be about 25 now.
tonym9428, I'm curious where the "luck" comes in. Sure, some are lucky in timing or connections.
In my son's case, he graduated from a well-respected, west coast school with a 3.5 GPA in computer science. He worked, part time, as a programmer for an aerospace company for two years (They gave him a counter-offer BTW). He met a representative of the company he now works for at a job fair at his school. And went through an eight hour interview (30 other applicants as well) with six different individuals. Oh, and he'd never written a line of code before he went to college.
I think this scenario is far more common, regardless of salary, than "luck." I guess he was lucky that he chose a STEM field rather than a major in under-water-basket-weaving.
Location: RI, MA, VT, WI, IL, CA, IN (that one sucked), KY
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Quote:
Originally Posted by JTGJR
I guess he was lucky that he chose a STEM field rather than a major in under-water-basket-weaving.
The luck was that the field he went into was something that interested him, and that field was employable. It would never have interested me, at all. I wouldn't have graduated, or if I did I would have done very poorly, because the subject matter was of no interest.
tonym9428, I'm curious where the "luck" comes in. Sure, some are lucky in timing or connections.
In my son's case, he graduated from a well-respected, west coast school with a 3.5 GPA in computer science. He worked, part time, as a programmer for an aerospace company for two years (They gave him a counter-offer BTW). He met a representative of the company he now works for at a job fair at his school. And went through an eight hour interview (30 other applicants as well) with six different individuals. Oh, and he'd never written a line of code before he went to college.
I think this scenario is far more common, regardless of salary, than "luck." I guess he was lucky that he chose a STEM field rather than a major in under-water-basket-weaving.
"In success we will all conflate luck and skill cause that’s what happens. “I’m the best. This is amazing. It’s going up and to the right because of me.” It’s probably like 5% true but 95% of it are a bunch of extranalities that are bit hard to account for." - chamath p (head of growth at facebook)
I'm just saying that I work in SV and see a ton of guys like your son. They have good salaries and academic credentials, but they are rarely as stellar as their "profile:" suggests. He's just another average guy riding the tech bubble, but it's unlikely that he is "above average" or "gods gift to earth". The reality is that SV is full of overpaid douche bags and SV has a ton of them.
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