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I live in LA. Once of the priciest parts of it to boot.
You're either making great sacrifices or you're a high income earner. My wife and I are both in tech with good comp. Without our DINK situation we would have to make some pretty sizable concessions that would lower our QOL...probably enough to hike back to the Midwest.
It's about what you value. My wife and I value proximity to world class experiences far more than we value things, so we choke down the high COL.
Two of my son's friends graduated from college in June. Both have jobs starting over 100K (one's making 130K, the other 120K). In California.
The challenge is, while now there are some jobs that have really high starting salaries. For the rest of us, it takes a decade (or more) to get to that pay, if ever!
Starting salaries now for non-engineer college grads are what mid-career professionals made when I was finishing up school! Making 70k was well paid when I finished school, and that is basically what my current company pays entry level sales reps.
Two of my son's friends graduated from college in June. Both have jobs starting over 100K (one's making 130K, the other 120K). In California.
That's awesome new for your son's friends to have finished college. It's fairly common to leave after 2-3 years to get out of those lower rung entry level jobs for college graduates. I am sure they will be making $150k+ by the time they are 25.
Those 2-3 years experience will make a big difference in salary for their next job hunt.
I like to see a list of jobs where you can immediately start at 100K a year people in this thread make it seem to easy to get started in those jobs.
How many people in california even have those 100K jobs, im pretty sure its not everybody otherwise we would all be living large
If we're talking about the ENTIRE state of California, sure it's a smaller percentage... but in the high-income regions like Bay Area (especially SF and Silicon Valley), as I said earlier, the median household income averages from 90-130K. And as I've also already mentioned, 100K in these areas does NOT mean you're "living large." It's just enough to get by comfortably, and barely enough if you are supporting children too. Do the math, and pretend central CA doesn't exist for the sake of this discussion.
Let's assume my salary (rounded up) of 80K, as a single-person household with no children. After taxes and other deductions, I take home around $4200/mo, and exactly half of that immediately goes to rent. That leaves me with $2100/mo for other expenses, which conservatively include the following:
Car payment: $270
Car insurance: $85
Internet/wifi: $59
PG&E: $60-100 (depending on season)
Cell phone: $85
Gas: $150 (short commute)
Food: $300-400
Pet food & supplies: $300 (my one "luxury/excessive" expense)
Renter's insurance: $12
Credit card payments & other debts: $200-400
Miscellaneous: $200+
And there's pretty much ALL of my money! Comes out to just over $2000/mo, and that's not including anything unexpected like car maintenance, registration, pet emergencies, new shoes, etc. So with another $20,000/year (bringing me to 100K) I'd be in much better shape, but just to the point where I'm not living paycheck-to-paycheck; still wouldn't be saving much, and without parental assistance, would be unlikely to ever afford a home purchase. Now assume supporting children on that salary, and you're not even going to survive without MORE than 100K. That's reality here!
Oh, and just off the top of my head (and assuming Silicon Valley salaries):
Nursing (RN)
Programming
Graphic Design
Other "techie" jobs
Sales management
Marketing
Management-level librarian or educator
Legal
??
start at? Meaning 22 year olds with college degrees would be starting at 100k in all these roles? There are certainly a few 22 year olds in tech that will make $100k+ but that's certainly not common.
start at? Meaning 22 year olds with college degrees would be starting at 100k in all these roles? There are certainly a few 22 year olds in tech that will make $100k+ but that's certainly not common.
Sure it is. My frigging interns pull down the equivalent to about 84. If you live in a tech hub, your base salary right out of school is probably going to be in the 1-teens. Tack on the equity packages they will throw in on top of it, and it's not unusual to see a 22 year old kid at his first job pulling down 150.
Nurses (at least where I live) start at about 93, but rack up so much overtime it's 100K out of the chute.
Oh, and just off the top of my head (and assuming Silicon Valley salaries):
Nursing (RN)
Programming
Graphic Design
Other "techie" jobs
Sales management
Marketing
Management-level librarian or educator
Legal
??
Other than many programmers or legal - the rest of those jobs you need experience to get $100k. You don't get that on your first job. Now it takes about 3-5 years to get there for early career professionals. Whereas it took 7-10 or more at my age. You need to be pretty senior as a designer if you are not in tech. Educators need to be really senior. A tenured teacher gets more like $80k. Nurses can get there pretty quickly.
Sure it is. My frigging interns pull down the equivalent to about 84. If you live in a tech hub, your base salary right out of school is probably going to be in the 1-teens. Tack on the equity packages they will throw in on top of it, and it's not unusual to see a 22 year old kid at his first job pulling down 150.
Nurses (at least where I live) start at about 93, but rack up so much overtime it's 100K out of the chute.
Only the engineers start that high. Marketing, sales and the other non technical roles start lower. And have a slower pay ramp. Think 60-70 for a top tier VC backed company. Much lower in an early stage company. All of the roles also pay a lot less in an early stage company or one with not much funding.
Only the engineers start that high. Marketing, sales and the other non technical roles start lower. And have a slower pay ramp. Think 60-70 for a top tier VC backed company. Much lower in an early stage company. All of the roles also pay a lot less in an early stage company or one with not much funding.
The statement was "a few 22 year olds in tech that will make 100K+".
Tech companies hire more than "a few" engineers. Most of the company is engineering.
Also, sales is a commission driven culture, and if you work for a good company, 100K right out of the chute is easy to get to, too.
Your statement should have been "a few 22 year olds in tech won't make 100K+"
Also, the compensation at VC backed tech firms can't be quantified, because those early people get stacks of equity that will either be worth millions one day, or worthless.
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