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Not really--average salary nationally, which has been quoted in many different threads here, for 1st year college grads in 2013 was just shy of $50,000.
Salaries in the South are typically lower than those in the North and West Coast, so a national average statistic is a misleading counter point.
Not really--average salary nationally, which has been quoted in many different threads here, for 1st year college grads in 2013 was just shy of $50,000.
National averages provide a 10,000 foot view, but don't account for any sort of regional variation. Average salaries in NYC, SF, etc, are probably higher than this, maybe substantially so. However, places with a lower cost of living, places with a poor labor market, and where the employers simply aren't as generous will have lower starting incomes.
Future salaries also tend to be based off of prior salaries. Starting at $30k in the South will likely prevent big bumps to bring one to parity with similar roles on the coasts. One may start at $50k in MA/CT/NJ but at $30k in TN/NC/SC. The next position may offer $60k on the coasts, but only $35k in the South. Over time, this results in many hundreds of thousands of dollars of lost income.
Not really--average salary nationally, which has been quoted in many different threads here, for 1st year college grads in 2013 was just shy of $50,000.
Clearly I erred going into education. Took me a decade [and an advanced degree] to make anywhere near that much.
Clearly I erred going into education. Took me a decade [and an advanced degree] to make anywhere near that much.
Not to mention many of those in other fields who made or make that without a College degree these days. No degree here and I hit 64K in IT with no certs, degrees and just 3 years exp in the field. Switched fields into the Real Estate industry and hit 45K in 3 years. It's a shame that education doesn't pay better, at least at the teaching level. I think in this day and age, with the way things are, we are damn lucky there are so many people passionate about teaching, because listening to friends who are teachers, it sounds like a lot of stress for low pay. And that's a shame considering the impact they have. They deserve more.
Salaries in the South are typically lower than those in the North and West Coast, so a national average statistic is a misleading counter point.
Cost of living in the "south" is less too so that $30,000 goes a lot farther than $50,000 in NYC.
Quote:
Originally Posted by Emigrations
National averages provide a 10,000 foot view, but don't account for any sort of regional variation. Average salaries in NYC, SF, etc, are probably higher than this, maybe substantially so. However, places with a lower cost of living, places with a poor labor market, and where the employers simply aren't as generous will have lower starting incomes.
Future salaries also tend to be based off of prior salaries. Starting at $30k in the South will likely prevent big bumps to bring one to parity with similar roles on the coasts. One may start at $50k in MA/CT/NJ but at $30k in TN/NC/SC. The next position may offer $60k on the coasts, but only $35k in the South. Over time, this results in many hundreds of thousands of dollars of lost income.
Well, that is why they are called 'averages" the $30,000 salary in Alabama averages out the $70,000 salary in NYC. You can also buy a house for $100,000 in most places in the south, a nice house, but you can't even get an apartment for that house payment in NYC so making $100,000 in Mississippi isn't as crucial. "Lost salary" only really matters if you can't pay your bills.
Quote:
Originally Posted by bler144
Clearly I erred going into education. Took me a decade [and an advanced degree] to make anywhere near that much.
All depends on when you started teaching. Starting salary for teachers in many parts of the country is in the $50,000 range now...COL is high in those places though. Starting salary in our district is about $45,000...but if you are married, that salary also qualifies you for food stamps....
Who goes into 100 thousand dollars worth of debt? The only way anyone would have debt that high is if they went to a top tier Ivy League school. A regular state school would not put you in that much debt and if someone is smart enough they could graduate with very little to no debt.
Who goes into 100 thousand dollars worth of debt? The only way anyone would have debt that high is if they went to a top tier Ivy League school. A regular state school would not put you in that much debt and if someone is smart enough they could graduate with very little to no debt.
State schools could if someone had to borrow the entire amount. Ivy Leagues have very generous financial aid packages and often end up being less expensive than state schools...and the average loan debt from the Ivy's is about $7000 since they convert loan aid into grants...
$45k is going to be a hard mark to hit with a degree unless you are in a high COL area. I just now broke the $50k barrier and could have never done it living in the South. If you are a regular person living somewhere like the South, a nonspecialized degree will NOT be worth it.
My son just got an INTERNSHIP in a low cost of living city (Pittsburgh). It pays $20 per hour and he isn't even a college graduate yet.
Salaries in the South are typically lower than those in the North and West Coast, so a national average statistic is a misleading counter point.
What's the difference? If young people are making significantly more with a degree than without a degree it might take 4 years to break even in a lower pay area. That earning differential stays with you for your ENTIRE LIFE not just for your first job. It still makes sense for people to get a degree if they can take on reasonable amounts of debt (let's say no more than they expect to make their first year working). It might not make sense to accumulate huge amounts of debt but some debt is not the end of the world.
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