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Salary Expectations......

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H8CH
Posts: 2709 - Karma: 218

Ok - a lot of these "how much do skiiers earn" thread's etc got me thinking..... oh Jon Olsson earns 100 bajillion a year.....  etc etc etc.

I know the NS Demographic is fairly young, but there are also members who are in college etc - who probably have some kind of idea as to what they want to do for a career etc.

So - what i want to know is, realistically - what do you think a good salary is? or a high salary? What number do you think would be enough for you to live on comfortably etc...or support a family even?..   I'm interested to see the spread here....   obviously someone is going to say millions....   but when talking about earning "lots"... or being a baller, or whatever - give me a number.....    what are your expectations in life in term's of earning money? Put some numbers to this....  also - how important is it to you going forward in life? I know it varies dependant on where you live, but don't get too bogged down in that - i wanrt to know how much future earning potential drive's the decisions you make today.

I have some interesting stat's i'll post up once i see the initial feedback..... 

May 23 2011 2:12PM
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Jennings
Posts: 2190 - Karma: 90
over 9,000
May 23 2011 2:13PM
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RudyGarmisch
Posts: 25443 - Karma: 13,844
I think the key thing to hope for is "salary" after college versus "hourly wage".
May 23 2011 2:13PM
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H8CH
Posts: 2709 - Karma: 218

This is a good point... 

Although I say Salary in term's of graduating and starting a career, it could also mean earnings you make from starting your own business too etc....    

Also - if you're at college - what is your degree, and what is a typical starting salary for a graduate?

May 23 2011 2:16PM
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RudyGarmisch
Posts: 25443 - Karma: 13,844
Typical starting salary is zilch after college, you pretty much either need to learn to take dick as an intern for 6 months and then hope to get a position. Shortcut is doing both a internship and taking classes without failing either.

Seriously though, if it comes with benefits (any insurance basically), whatever pays.
May 23 2011 2:18PM
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DirtYStylE
Posts: 3652 - Karma: 8,888
I am going to major in Business. The starting salary is way to broad to even guess at. It depends on what job I decide to pursue...

All I can say is the starting salary should and probably will be higher than if I didnt go to college. I would really really like to make $xxx,xxx. Spend a few years in this job without supporting a family and BOOM more money then I know what to do with.
May 23 2011 2:23PM
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Dan.
Posts: 7201 - Karma: 1,126
it's dependent on your location too, because god knows anything below 100k in manhattan is poverty, but in most places, I think you can live a pretty minimal but decent life for between 30 and 60k.
May 23 2011 2:26PM
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Jennings
Posts: 2190 - Karma: 90
but for real im going to michigan next year probably for business (maybe pre-med).. not sure what to expect as far as money yet
May 23 2011 2:31PM
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Mike-O
Posts: 14593 - Karma: 1,089
With my current papers, I'm looking at a median starting salary of 3400 dollars for graduates.

If I go the career route without too much of a hassle I'm hoping to land something around 7000 dollars. It would be quite enough with taxation here, but I'll probably move out of Finland eventually.
May 23 2011 2:32PM
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H8CH
Posts: 2709 - Karma: 218

True

Having worked in London, i know what it's like. But if you're first real job is in Manhattan, you'll be paid commensurate with where you live - so you'll effectively see an uplift compared to somewhere with lower costs of living.  that said - many of the best opportunties may be in Manhattan, so it all pays in the end in terms of experience etc.

Anyone know what percentage of the population in the US earn's over $100k? or what the avergae US household income is?

It's on Wiki, but I encourage you to have a guess first, then look it up....  pretty interesting.

May 23 2011 2:32PM
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NotoriousT.S.E
Posts: 1014 - Karma: 439
At least 70,000 mid career.. whatever thats going to be
May 23 2011 2:33PM
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Jennings
Posts: 2190 - Karma: 90
id guess lower like 40 or 50
May 23 2011 2:35PM
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Lemuel
Posts: 14485 - Karma: 10,590
I don't know how reliable my numbers are / expectations are, but hey, I'll give it a shot.

I'm majoring in rec. management at UVM. I looked up salaries for general hotel /resort managers because that is a large field in what I would be going into, not necessarily what I want but it is an option. Starting salary is around low 40's. It's not alot, but I think you can work your way up pretty quickly in this field. I would say, if you are all on your own, once you hit the low 60's you are pretty well off. To start a family, I'm going to say it's more what you have saved so far rather than what you currently make, also you future plans as far as work need to be taken into account. But to live comfortably and support a family of lets say husband wife 2 kids, at least 100 to not have to worry, with some decent money saved / for backup. To be well off, I am going to say at least 200 combined. But seeing as it is costing me $160 grand to go to college, it's going to be alot more expensive once I have kids and they go to college (30ish years down the road).

Now after thinking about all this, I really don't know. I feel like I am underestimating my numbers now.
May 23 2011 2:35PM
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JKill
Posts: 626 - Karma: 67
Some times I would rather go for the hourly pay. This summer I was making more then my managers because of all the overtime and stuff. Salary vs. hourly depends greatly on job.
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But, to the point. I am graduating with a degree in business administration specializing in operations and mean salary for grads out of my school is around $50,000, I calculated that I could live off of around $30,000 semi-comfy and I would like to b around 70-80 in near future.
May 23 2011 2:37PM
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Mike-O
Posts: 14593 - Karma: 1,089
..or land a job that has a stable monthly salary plus extra for overclocking? Hmm? Pretty much the norm here.
May 23 2011 2:39PM
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Dustin.
Posts: 13839 - Karma: 7,704
Jesus you must have been brought up throwing money around, or you SERIOUSLY misunderstand the value of a dollar if $200k a year is what you need to be "well off" with a 4 person family.
May 23 2011 2:40PM
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Username_42069
Posts: 1591 - Karma: 15
off the top of my head i think its around 5 or 6 percent, pretty confident in that answer

and avg. household income is at 34-35k, but im not sure if im confusing individual or household income - i just remember hearing something like that at one point or another
May 23 2011 2:40PM
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skiierman
Posts: 28699 - Karma: -5,563
25k - great if you're single and young
40k - very solid
80k - set for a comfortable life
100k+ - complete success
May 23 2011 2:41PM
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skiierman
Posts: 28699 - Karma: -5,563
25k - great if you're single and young
40k - very solid
80k - set for a comfortable life
100k+ - complete success
May 23 2011 2:41PM
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1337
Posts: 31053 - Karma: 29,224
I hope that at my peak of an engineering career I'm making around/close to 90-100k a year, if I achieve that then I'd consider myself to be very lucky
May 23 2011 2:41PM
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Dustin.
Posts: 13839 - Karma: 7,704
This sounds correct. I bet that's average individual income, but lots of families only have one source of income so it might be household as well....not sure.
May 23 2011 2:42PM
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Dustin.
Posts: 13839 - Karma: 7,704
Agreed.
May 23 2011 2:43PM
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Msully
Posts: 575 - Karma: 21
computer science engineer -> average outta college is 65k with the average at 95k after 5-10 years.

Id be happy with just 40k and working at vail again 
May 23 2011 2:43PM
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JKill
Posts: 626 - Karma: 67
That would be very nice but there really isn't much of that in my field or in the states at all. Most managers rely on bonuses to make up the difference.
May 23 2011 2:45PM
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Mike-O
Posts: 14593 - Karma: 1,089
Okay, in many fields here it's either that or you can retribute your overwork into paid leave. More people actually do this.
May 23 2011 2:48PM
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Milksteak
Posts: 9948 - Karma: 833
That's a lot....You'll be more than comfortable with 100k...
May 23 2011 2:49PM
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ImNotARacist
Posts: 5136 - Karma: -1,031
For me, If I were doing what I love as a job, which is the ultimate goal, All I would need is my rent paid, gas in my car, food in my belly, and a lil extra to treat myself.


So in a one month time period.
$400 rent & utilities
$90 for 2 tanks of gas
$100 for insurance
$50 for cell phone.
$15 a week roughly for food so $60
and $100 extra to do what I want

Grand total: $800. Im sure my number are off so I will give my self a large window for error and say $1500 a month would keep me really happy and really comfortable. Assuming nothing unexpected ever happens.
May 23 2011 2:49PM
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moonofendor
Posts: 1484 - Karma: 14
right now i'm on co-op at a company making 16.5 an hour (which comes out to 33k a year), and I'm considered free labor.

I'll most likely be working for the same company when I graduate and i'll be making close to double what I am now plus benefits. so around 60k starting.

oh and chemical engineering is what i'm studying now, and i'll probably stay in school for another 2ish years and double major in chemical and mechanical engineering with two minors one in chemistry, and one in physics.

with that from people i've talked with i'll be able to make close to six figures after approximately 5-10 years with the company, so right around the time i'm looking to settle down i'll be looking at six figures plus a year.
May 23 2011 2:50PM
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Lemuel
Posts: 14485 - Karma: 10,590
Here is a ton of data / statistics on earnings in the US. I couldn't find anything on what percent makes 100+ though.

http://www.bls.gov/ncs/ncswage2010.htm
May 23 2011 2:50PM
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failtown
Posts: 107 - Karma: 13
No, this is about right to be "well off". but also, it depends on what you consider "well off."  To me, well off is no debt, minus a house payment and MAYBE a vehicle payment.  I would say my family is well off, and we have a household income of about $170,000.  BUT there's 6 people in my family....house is about 4,000sq ft, and we have a boat, fourwheelers, truck, two cars, and a couple acres of land.  Only debt my parents have is the house payment.  We're definitely very fortunate to have what we have, so i'd consider us very well off, and its definitely not taken for granted.  Then again, my mom is an accountant part time so she saves money like its nobody's business.


To answer the other part of the thread, I'm majoring in Software Engineering. Starting salary is around $75k to $80k., with the median salary in the six figure range.  I work full time right now while in college making $50k.  It's MORE than enough to live of off when you're single and have no one else to provide for.  If I were to start a family, as long as I manage money correctly and live accordingly, a family can be raised on $50k. Like someone said, median household income is around $35k, so it's definitely do-able.
May 23 2011 2:52PM
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dreadyboy
Posts: 2306 - Karma: 34
60-70k if I'm only working 3 days a week
130-150k if it's a 5 day dealio
May 23 2011 2:53PM
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H8CH
Posts: 2709 - Karma: 218

Easily doable - if you're smart about how your career pan's out - remember it's supply and demand.

Engineering is a dieing trade in term's of interest from the "yoof".  Everyone want's to be a banker, or businessman or a movie star!  etc....    Engineering grad's are massively in demand as the skill's lost through retirements are not being replenished....   even more so if you're female as companies want to encourage more woman into technical roles.

Engineering Grad's at Exxon, Chevron and Bp start on around 80-90k....  

But Knuckles - your numbers are pretty good: I think Grad's starting on around 30-40, fresh out of college, no experience is a good number and def a good target.  Same for you Trav: once you get out of college it's about 2 things.... experience and networking like a mutha fucker.  getting to know as many people as possible, working hard / delivering your shit and being flexible.....   it can take a while but once you have 5 yrs experience in what ever your chosen field is - doors start to open.

May 23 2011 2:54PM
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H8CH
Posts: 2709 - Karma: 218

Easily doable - if you're smart about how your career pan's out - remember it's supply and demand.

Engineering is a dieing trade in term's of interest from the "yoof".  Everyone want's to be a banker, or businessman or a movie star!  etc....    Engineering grad's are massively in demand as the skill's lost through retirements are not being replenished....   even more so if you're female as companies want to encourage more woman into technical roles.

Engineering Grad's at Exxon, Chevron and Bp start on around 80-90k....  

But Knuckles - your numbers are pretty good: I think Grad's starting on around 30-40, fresh out of college, no experience is a good number and def a good target.  Same for you Trav: once you get out of college it's about 2 things.... experience and networking like a mutha fucker.  getting to know as many people as possible, working hard / delivering your shit and being flexible.....   it can take a while but once you have 5 yrs experience in what ever your chosen field is - doors start to open.

May 23 2011 2:54PM
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comeatmebro
Posts: 10720 - Karma: 66
starting out i'm looking to be making 50k at age 20. within 2 years, 100k. could be as high as 140k at a large airport.
May 23 2011 2:57PM
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moonofendor
Posts: 1484 - Karma: 14
doing what if i may ask.

oh and a lot of people don't realize that sure you can work manual labor and make a killing, but your career will be considerably shorter than someone who isn't under as much physical stress while at work.

also, insurance is expensive. if you don't believe so ask your parents how much they're paying for you, or would pay for you if you aren't covered by a companies insurance plan.
May 23 2011 3:00PM
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Lemuel
Posts: 14485 - Karma: 10,590
Actually no. I don't through money around at all. My parents never spent money on useless things. I have never had cable tv, I live in a house that is 150 years old. My parents never buy new cars, and buy a new car like every 15 years. I have 2 other siblings. We all went to UVM out of state. $160,000 x 3 is $480,000. That's not pocket change. Sorry I like to have money in my bank account, people tell me I am rich when I have $1500 in savings and $1000 in "spending" when they only have like $300 to their name because they spent it all. Have you ever had something completely unexpected come up that you had to pay a shit load of money for? My bike got stolen, payed $800 for a new one. My computer had some serious damage done to it. $900 to fix it. Out of pocket. I know the value of a dollar, sorry I take everything into account when thinking about the future and give myself higher expectations.

Living isn't cheap.
May 23 2011 3:03PM
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H8CH
Posts: 2709 - Karma: 218

You could do very well in Oil and Gas....

Hit me up if interested - want some more advice....

May 23 2011 3:04PM
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dreadyboy
Posts: 2306 - Karma: 34
Start off in engineering, then start a business of some sort
May 23 2011 3:07PM
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failtown
Posts: 107 - Karma: 13
I like what you said here.  It's true...I do the same thing.  Having a deep savings account is good.  People see I have, say 8 or 9k in my savings and its pathetic how many people go "dude buy ____ ! that money is just sitting there, spend it. I would."  Umm....no. because shit goes wrong and I'd rather have money to fall back on.  It's a "need now, buy now" instant gratification world these days. And that's not a good thing.
May 23 2011 3:07PM
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TechnoPotamus
Posts: 11626 - Karma: 3,522
this is spot on i feel like. i agree
May 23 2011 3:08PM
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Ski_the_east01
Posts: 5203 - Karma: 2,306
but its completely dependent on where you live...25k in boston won't get you shit, you'll spend half of that easily on yearly rent

buy my buddy works in texas as a border patrol officer and just clears 30k and lives like freakin king tut

another friend lives in florida and just bought a 4 bedroom house with inground pool in beautiful condition for 150,000...you legit couldnt even buy a garage up here for that money
May 23 2011 3:13PM
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.AR6rider.
Posts: 15976 - Karma: 8,799
To be quite honest, when I'm completely finished with all my school, I am fully expecting to make multiple hundreds of thousands a year. Orthopedic surgeons typically make a lot as it is, and where I live is in a very high percentile area for medical salaries. My dad is also involved in a bunch of successful real estate ventures involving medical centers, nursing homes, and hospitals which he's already getting me involved with. Hopefully it will make the 22 years of school, not including residency and fellowships, worth it haha.
May 23 2011 3:20PM
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TechnoPotamus
Posts: 11626 - Karma: 3,522
yeah man you're absolutely right. those numbers just happen to correspond to where i currently live as being decent.


if you live in any metropolitan area that's probably not enough at each stage of life
May 23 2011 3:22PM
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JayDope
Posts: 6842 - Karma: 408
from where i live id say the average houseold income is between 70-200k+ there are parts in my town with very low income households, and other parts where ppl live who make millions per year. But for instance in my family we have 5 people, and id say the household income is close to 200K btu not quite there, my dad works full time as a part owner in a business, and my mom works part time at a hairsalon, im not adding in myself or my older sister. But we live comfortably, 4 cars, 4000sqft house, nice size pool in the back, go on vacations and what not, and my parents afforded to put myself and my 2 sisters through college. Yes id consider myself fortunate, now im going to school to become a physical therapist, i was talking to my boss last week about salary, he said when i graduate form PT school id say around 2016, i should not take a job paying less than 70K a year, and they have to pay for my continuing education, and within 2 or 3 years ill be making 100K without a problem. Now opening up my own practice 10 years down the road is where the real money comes in, 250-400k a year depending on how successful my practice is, now these number r high, i am well aware of that. To live comfortably with a household of 5 people, id say 130k, to just get by 80-100k depending on where u live. My numbers r based on a 5 person household.
May 23 2011 3:22PM
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Dustin.
Posts: 13839 - Karma: 7,704
I'm not sure what this has to do with your bank account, but if having to replace luxuries like $800 bikes and paying for $900 computer repairs while only having $2500 to your name is your idea of a difficult financial situation...get real. That's more than my roommate made in 5 years in Ghana, and it's still a shit load of money in our country for about 98% of the population.
May 23 2011 3:27PM
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Mike-O
Posts: 14593 - Karma: 1,089
What's the highest taxation percent you hit in the US?

In Finland, the highest taxation you can get is 30,5% + an average municipal tax of 18,5% =

49% tax.


Yay.
May 23 2011 3:30PM
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H8CH
Posts: 2709 - Karma: 218

depends where you live in the USA.  Federal Income tax isn't very much (compared with Europe.... ) prob's max around 25-30% (unless earning millions) but if you live in a state with heavy state taxes (california) it can get a bit heavy...

Either way. Coming from London, I find the USA mega value in term's of the extra disposable income i have here compartively.  I'm much happier working here and paying my taxes here then in the UK.

May 23 2011 3:34PM
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Dustin.
Posts: 13839 - Karma: 7,704
No shit. I think I put in quite a bit of effort into my education. I'm simply saying that the idea that $200k a year is necessary to live a good life is ludicrous.

You're 18, I'm frankly not interested in your perspective. No offense. Buy a home, then we'll talk. You generally need about $20k-30k to put down to get a nicer interest rate on a middle class home.
May 23 2011 3:36PM
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Dustin.
Posts: 13839 - Karma: 7,704
Agreed, living in Europe destroys your wallet.
May 23 2011 3:37PM
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JayDope
Posts: 6842 - Karma: 408
the property tax in my county, (passaic county, NJ) is the highest in the entire country, i remember looking it up a few years back, something like 8.4%, then 2nd was Nassau county in NY, then bergen county, NJ as the 3rd. So ridicc
May 23 2011 3:39PM
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Lemuel
Posts: 14485 - Karma: 10,590
Are you fucking dense? What does money have to do with my bank account... hmmm I don't know? Considering you told me I don't know the value of a dollar when it's quite obviously I know alot more about how life works than you do. And don't talk to me about luxuries, this is a skiing website, skiing is a luxury. $2500 is not alot of money in this country, especially when you are in college and have rent to pay. And I never said it was difficult to spend that money, I said that is why I overestimate my number so I have back up. You have clearly never had anything financially go wrong in your life so consider yourself lucky. And I don't give a shit what your room mates made in Ghana, it's a 3rd world country where any money is considered alot, I'm talking about the US. I'm done with this conversation.
May 23 2011 3:41PM
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