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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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Pudge
Posts: 3718 - Karma: 3,117
I_liketobutterI'll do everything I can to pay for my kids school.

I'm 27 and have 90k in student debt. I took the long way around, not being able to decide what the fuck I wanted to do with my life for too long.

I graduated 6 months ago with an ME degree, make 61k, and love my job. But, that debt is fucking destroying my income. I would never wish it on any person. I could rant for hours on how fucked the student loan system is for people not on their parents dime.


Idk man, in-state undergrad degree in physics and I will incur less than 7k by the day of graduation, not on my dad's dime. Forget rates for a second, how much did you borrow?
Jun 27 2014 9:54PM
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2_fadez
Posts: 7780 - Karma: 4,184
95k starting out of school, but hopefully with the company I'm at now, starting 140k.
Peak is hard to tell though. Could be 200k, could be 2 mil
Jun 27 2014 10:10PM
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louie.mirags
Posts: 6015 - Karma: 5,029
I would not normally promote the armed services, but I just graduated with zero debt. Not only is it 0 debt, the GI bill pays for your rent too. I graduated with a 2 year degree on electrical engineering and landed a Network Engineer position for the company I interned at. Pretty tits and my navy experience has a lot to do with it.
Jun 28 2014 9:32AM
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DGski
Posts: 3491 - Karma: 2,328
Sobriety95k starting out of school, but hopefully with the company I'm at now, starting 140k.
Peak is hard to tell though. Could be 200k, could be 2 mil


Finance or something ?
Jun 28 2014 11:24AM
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2_fadez
Posts: 7780 - Karma: 4,184
DGskiFinance or something ?


petroleum natural gas engineering
Jun 28 2014 7:51PM
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deleted5
Posts: 14507 - Karma: 13,507
Didn't read this thread but if you're making over 60k a year I'd say you did well for yourself.
Jun 29 2014 5:07AM
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I_liketobutter
Posts: 2664 - Karma: 997
PudgeIdk man, in-state undergrad degree in physics and I will incur less than 7k by the day of graduation, not on my dad's dime. Forget rates for a second, how much did you borrow?

I borrowed close to 80k through 7.5 years of school. First 3 were non-traditional. The last 4.5 were what I would call a typical college degree. Those 4.5 accounted for close to 60k.


The U of MN is 14k per year in-state just in tuition. Add on living costs and bam. I left that overpriced POS after 2 years and finished at a private school It wasn't until I was over 24 and was able to qualify for aid under my income, not my parents, when school got cheaper.
Jun 30 2014 10:11AM
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H8CH
Posts: 2709 - Karma: 218
Sobrietypetroleum natural gas engineering


Yup - Welcome to the industry.

You'll really see the cash when you start working for yourself when you get to around 10yrs experience.

A friend of mine actually just told me of a position working for Pemex in Mexico (they're really starting to open up in the gulf now - about time) - Drilling Eng with 15/20 yrs experience - 85k/month.

That's scientifically known as - not too shabby.
Jun 30 2014 11:06AM
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2_fadez
Posts: 7780 - Karma: 4,184
H8CHYup - Welcome to the industry.

You'll really see the cash when you start working for yourself when you get to around 10yrs experience.

A friend of mine actually just told me of a position working for Pemex in Mexico (they're really starting to open up in the gulf now - about time) - Drilling Eng with 15/20 yrs experience - 85k/month.

That's scientifically known as - not too shabby.


Yeah my boss is friends with a guy at Schlumberger who will work a year straight offshore and bank $1 million, and then takes the next two years off. Fuckin crazy but damn, those offshore salaries are nuts. Not sure I'll ever take it though.
Jun 30 2014 8:58PM
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MACAQUE
Posts: 2811 - Karma: 696
SobrietyYeah my boss is friends with a guy at Schlumberger who will work a year straight offshore and bank $1 million, and then takes the next two years off. Fuckin crazy but damn, those offshore salaries are nuts. Not sure I'll ever take it though.


Do you need a petroleum engineering degree to get into the industry or can you get another type of engineering degree and get on-the-job training and experience? Right now I want to pursue ME or EE but those numbers make me want to switch hahaha
Jul 1 2014 2:27PM
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seward
Posts: 5233 - Karma: 2,174
i think it would be interesting if there were a way to set up some sort of chart within this topic.

one for salary expectations.. of people still in school and active in this forum topic.

and another for average annual NS'er salary... of people who have graduated and are actually earning an income today.

i wonder how much they differ.
Jul 1 2014 2:47PM
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Lucas
Posts: 4881 - Karma: 1,575
sewardi think it would be interesting if there were a way to set up some sort of chart within this topic.

one for salary expectations.. of people still in school and active in this forum topic.

and another for average annual NS'er salary... of people who have graduated and are actually earning an income today.

i wonder how much they differ.


You could do it pretty easily with a google doc form.
Jul 1 2014 3:06PM
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seward
Posts: 5233 - Karma: 2,174
LucasYou could do it pretty easily with a google doc form.


you could do it pretty easily if people were honest about their income...
Jul 1 2014 3:29PM
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Mr.LemonPie
Posts: 4100 - Karma: 1,625
sewardyou could do it pretty easily if people were honest about their income...


I find this thread really interesting and think a lot of NS members have a misconception of what is really needed to live comfortably.

I mean, I don't really expect to make very much at any point in my life anymore. The year I filed for the most on my taxes was the year in my junior/senior year of high school.

This year I'll make about 19k, which is enough for me to travel to the UK, go to music festivals, ski 100+ days in the winter, keep a roof over my head and in general not go hungry.
Jul 1 2014 4:25PM
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louie.mirags
Posts: 6015 - Karma: 5,029
sewardi think it would be interesting if there were a way to set up some sort of chart within this topic.

one for salary expectations.. of people still in school and active in this forum topic.

and another for average annual NS'er salary... of people who have graduated and are actually earning an income today.

i wonder how much they differ.


I'd predict they would differ quite a lot...
Jul 1 2014 4:45PM
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seward
Posts: 5233 - Karma: 2,174
Mr.LemonPieI find this thread really interesting and think a lot of NS members have a misconception of what is really needed to live comfortably.

I mean, I don't really expect to make very much at any point in my life anymore. The year I filed for the most on my taxes was the year in my junior/senior year of high school.

This year I'll make about 19k, which is enough for me to travel to the UK, go to music festivals, ski 100+ days in the winter, keep a roof over my head and in general not go hungry.



i also find this thread really interesting and think a lot of NS members have a misconception of what they will actually make IF they land a job right out of school.

i dunno, maybe its just me, but i attended two post secondary institutions, both for specialized programs, both located in the largest canadian city, was hired right out of school, have been working for 3 years, and dont make any where fuckin near 100 grand.

and to be dead honest, i met alot of people in school, who took the same if not similar programs, some currently employed, some not, and i dont know a single person my age that makes 100k.

im not at all saying i, we, they, wont at some point in our lives.

i just think the expectation that you will make 6 figures straight out of school is extremelyyyyyyyy unrealistic.

not many people hit the 6 figure mark in their entire careers, let alone first job.
Jul 1 2014 4:52PM
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seward
Posts: 5233 - Karma: 2,174
louie.miragsI'd predict they would differ quite a lot...


lol.


my guess is somewhere between 50,000 - 80,000 dollars.
Jul 1 2014 4:55PM
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Campeador
Posts: 7516 - Karma: -1,227
So much misinformation and misguided expectations in this thread.

I can only laugh at the law school kid who thinks he'll be making 160k out of school. You'll be very lucky if you land a public defender job.
Jul 1 2014 5:07PM
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2_fadez
Posts: 7780 - Karma: 4,184
MACAQUEDo you need a petroleum engineering degree to get into the industry or can you get another type of engineering degree and get on-the-job training and experience? Right now I want to pursue ME or EE but those numbers make me want to switch hahaha


nope. president of my company went to akron as a bio major and didn't even finish.
most people working are mechanical engineering, civil engineering, biology, etc. there are plenty of guys who didn't even go to college working in the field. companies are looking for anyone and in general, just people who have mechanical knowhow and can tell people what to do.
the hard part is getting into the industry, and convincing a company that you are worth throwing a huge salary and huge liability on.
Jul 1 2014 6:36PM
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Rusticles
Posts: 2180 - Karma: 1,337
Sobrietynope. president of my company went to akron as a bio major and didn't even finish.
most people working are mechanical engineering, civil engineering, biology, etc. there are plenty of guys who didn't even go to college working in the field. companies are looking for anyone and in general, just people who have mechanical knowhow and can tell people what to do.
the hard part is getting into the industry, and convincing a company that you are worth throwing a huge salary and huge liability on.


This sounds a lot like Alberta haha
Jul 1 2014 7:28PM
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cool_name
Posts: 4295 - Karma: 3,131
BandoleroSo much misinformation and misguided expectations in this thread.

I can only laugh at the law school kid who thinks he'll be making 160k out of school. You'll be very lucky if you land a public defender job.


i dont want to read through the thread and find that exact comment, but if you went to a top tier law school it is completely possible to make that as a first year associate working for a big law firm in New York. Obviously if you are getting your degree from a local state college it will be a lot different.
Jul 1 2014 10:58PM
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Rusticles
Posts: 2180 - Karma: 1,337
sewardi dunno, maybe its just me, but i attended two post secondary institutions, both for specialized programs, both located in the largest canadian city, was hired right out of school, have been working for 3 years, and dont make any where fuckin near 100 grand.

and to be dead honest, i met alot of people in school, who took the same if not similar programs, some currently employed, some not, and i dont know a single person my age that makes 100k.


I think a lot of it is demographics, even in Canada, Income also depends significantly on what you can offer an employer. There are a lot of 2 year tech programs available that can get you 100k a year within a few years in western Canada. If I was to bet on it I would say 25-50% of grads that graduated from the same program I did were making close to if not more than 100k year three years after graduating.

Just part of the economy.
Jul 1 2014 11:20PM
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louie.mirags
Posts: 6015 - Karma: 5,029
cool_namei dont want to read through the thread and find that exact comment, but if you went to a top tier law school it is completely possible to make that as a first year associate working for a big law firm in New York. Obviously if you are getting your degree from a local state college it will be a lot different.


Sure it's possible but challenging and you have to put in the time... There is a reason it is the top tier college and nyc isn't for everyone...
Jul 2 2014 7:06AM
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louie.mirags
Posts: 6015 - Karma: 5,029
Dub post, of course it's challenging everything that pays off in life you have to put the work in. The point is that a lot of people aren't going to make 80k plus to start, but think that's a standard.
Jul 2 2014 7:17AM
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seward
Posts: 5233 - Karma: 2,174
RusticlesI think a lot of it is demographics, even in Canada, Income also depends significantly on what you can offer an employer. There are a lot of 2 year tech programs available that can get you 100k a year within a few years in western Canada. If I was to bet on it I would say 25-50% of grads that graduated from the same program I did were making close to if not more than 100k year three years after graduating.

Just part of the economy.



but do you make 100k + ??
Jul 2 2014 8:14AM
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yelsel
Posts: 12967 - Karma: 3,451
cool_namei dont want to read through the thread and find that exact comment, but if you went to a top tier law school it is completely possible to make that as a first year associate working for a big law firm in New York. Obviously if you are getting your degree from a local state college it will be a lot different.


IF you can even get into a law firm that is and they're not going to hire you just based on the fact that you went to a good law school. The market for lawyers has been so saturated for the last 5 years or so that you truly need to stand out from the rest.
Jul 2 2014 8:32AM
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whoa-dere
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Sobrietymost people working are mechanical engineering, civil engineering, biology, etc.


:D
Jul 2 2014 8:51AM
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Rusticles
Posts: 2180 - Karma: 1,337
sewardbut do you make 100k + ??


I hope this does not come off as a claim. The year I graduated I made $107k, that is abnormal due to the fact that I had previous education that helped, I think I was 25 or 26. since then I had one bad year below $100k due to changing employers when economy tanked. I have been hovering about 125k to 150k since.
Unfortunately I may have plateaued already.
Jul 2 2014 9:18AM
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seward
Posts: 5233 - Karma: 2,174
RusticlesI hope this does not come off as a claim. The year I graduated I made $107k, that is abnormal due to the fact that I had previous education that helped, I think I was 25 or 26. since then I had one bad year below $100k due to changing employers when economy tanked. I have been hovering about 125k to 150k since.
Unfortunately I may have plateaued already.




thats insane
Jul 2 2014 9:49AM
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Rusticles
Posts: 2180 - Karma: 1,337
sewardthats insane


The insane part is that the company I work for has problems with retention, people are leaving regularily for more money. We have a reputation of being a lower paying employer and the people that are still here are for the most part here for the benefits not the money. I have a few friends that make more, hell my little brother makes more. I've had a few offers for more money myself I just haven't sold my soul for money yet haha.
Jul 2 2014 10:33AM
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lIllI
Posts: 1255 - Karma: 1,986
Finance major here. I'll be surprised if I make more than $30,000 out of college.
Jul 2 2014 11:48AM
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cool_name
Posts: 4295 - Karma: 3,131
louie.miragsSure it's possible but challenging and you have to put in the time... There is a reason it is the top tier college and nyc isn't for everyone...


obviously challenging, just trying to point out to that guy that IF the guy expecting to earn 160 out of school is attending say Harvard law then it isnt all that unrealistic.
Jul 2 2014 6:44PM
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deleted5
Posts: 14507 - Karma: 13,507
cool_nameobviously challenging, just trying to point out to that guy that IF the guy expecting to earn 160 out of school is attending say Harvard law then it isnt all that unrealistic.


Still very unrealistic when you come out of law school and you work as a lawyer you're very underpaid for the first few years. same goes for doctors I have a friend three years out of medical school and he still has over $120,000 in student loans.
Jul 2 2014 7:56PM
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cool_name
Posts: 4295 - Karma: 3,131
zzzskizzzStill very unrealistic when you come out of law school and you work as a lawyer you're very underpaid for the first few years. same goes for doctors I have a friend three years out of medical school and he still has over $120,000 in student loans.


Maybe in terms of an hourly wage due to the long hours required, but salary wise if you go to a top their school this is not the case

Source http://www.forbes.com/sites/susanadams/2014/03/28/law-schools-whose-grads-make-the-highest-starting-salaries/
Jul 2 2014 10:09PM
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Mr.LemonPie
Posts: 4100 - Karma: 1,625
zzzskizzzhe still has over $120,000 in student loans.


Like yeah, but that doesn't mean he isn't making really good money. My uncle was in finance and energy in his 20s and 30s (enron mostly) and did extremely well, then when just before everything went bad he decided to go back to medical school. 8 years later he had almost 300k in student loans. He was making just under 100k when he first got out of medical school, but still making 6 figures a year really isn't that much in front of the debt that college in America can put you into.

I mean, yeah, since then he has started his own private practice and such and now he makes heaps and heaps, but for a while even when he was a Dr. making great money his family was still broke because of the debt.
Jul 3 2014 5:37AM
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zues
Posts: 6434 - Karma: -5,330
I'm 24 years old. I work as an accountant and I'm currently making 46.5K base salary + bonus which was about 4.5k last year. so i'm a little above the 50k mark and I don't see it getting much higher anytime soon.
Jul 3 2014 7:11AM
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deleted5
Posts: 14507 - Karma: 13,507
Mr.LemonPieLike yeah, but that doesn't mean he isn't making really good money. My uncle was in finance and energy in his 20s and 30s (enron mostly) and did extremely well, then when just before everything went bad he decided to go back to medical school. 8 years later he had almost 300k in student loans. He was making just under 100k when he first got out of medical school, but still making 6 figures a year really isn't that much in front of the debt that college in America can put you into.

I mean, yeah, since then he has started his own private practice and such and now he makes heaps and heaps, but for a while even when he was a Dr. making great money his family was still broke because of the debt.


that's exactly what it means when you get out of medical school usually have to work under someone else's practice. You don't graduate then immediately have your own business with a hundred plus clients, most doctors out of medical school are still broke 5 years after they graduate.
Jul 3 2014 12:18PM
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louie.mirags
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zuesI'm 24 years old. I work as an accountant and I'm currently making 46.5K base salary + bonus which was about 4.5k last year. so i'm a little above the 50k mark and I don't see it getting much higher anytime soon.


I am also 24 and make a similar wage. I am a Network Engineer and my salary is $44.5k starting. No bonuses but my schooling was free (GI Bill) so no loans.
Jul 3 2014 1:11PM
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Rusticles
Posts: 2180 - Karma: 1,337
I'm kind of curious as to the other options available in other parts of NA. If the cost of college is so expensive what is the point of going if you're not assured a good income and the possibility of paying off student loans in a year or two? 80k in student loans would take forever to pay off at 50k a year? is owning a house in your 20's not even realistic?
Jul 3 2014 1:33PM
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louie.mirags
Posts: 6015 - Karma: 5,029
RusticlesI'm kind of curious as to the other options available in other parts of NA. If the cost of college is so expensive what is the point of going if you're not assured a good income and the possibility of paying off student loans in a year or two? 80k in student loans would take forever to pay off at 50k a year? is owning a house in your 20's not even realistic?


I'm going to be looking at houses soon. My sister and her husband are in their late 20s with student loans and they have a house (mortgage obviously). They are both teachers so average pay.
Jul 3 2014 2:04PM
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Rusticles
Posts: 2180 - Karma: 1,337
louie.miragsI'm going to be looking at houses soon. My sister and her husband are in their late 20s with student loans and they have a house (mortgage obviously). They are both teachers so average pay.


Do you or did you have significant student debt? were you able to pay them off before or are you buying a house with student debt? Are houses in your area very pricey? 1800sqft is roughly $450000 where i'm from, not to steep I guess just seems expensive haha.
Jul 3 2014 2:27PM
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louie.mirags
Posts: 6015 - Karma: 5,029
RusticlesDo you or did you have significant student debt? were you able to pay them off before or are you buying a house with student debt? Are houses in your area very pricey? 1800sqft is roughly $450000 where i'm from, not to steep I guess just seems expensive haha.


Read my post a few up for my background, no debt. Do you mean 45k? Cause 450k is a lot. I live on the southern tier of NY so housing is above average for the United States. Not too bad though, gets worse closer to nyc. My sister is still paying loans and will be for a while. However, there is something that after a few years teacher's loans get forgiven or something. Not too sure
Jul 3 2014 2:38PM
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Toaster-Tony
Posts: 3531 - Karma: 5,850
With and English and mass communication degree, I'll be happy with anything over 35k outa college. With that being said, I have an opportunity with the railroad to make upward a of 60k, that is as long as the internship, training, and placement goes well.

The only thing I'm looking for out of a salary is enough to afford what I love in life. As long as I can ski and be with friends without worrying about my next meal, I'll be more than happy.
Jul 3 2014 2:54PM
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Rusticles
Posts: 2180 - Karma: 1,337
louie.miragsRead my post a few up for my background, no debt. Do you mean 45k? Cause 450k is a lot. I live on the southern tier of NY so housing is above average for the United States. Not too bad though, gets worse closer to nyc. My sister is still paying loans and will be for a while. However, there is something that after a few years teacher's loans get forgiven or something. Not too sure


Missed that post, that's great that you got your education for free.

$450000 is not a typo. I guess that is pretty steep then? If salary's are high then so is cost of living.
Jul 3 2014 3:02PM
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Campeador
Posts: 7516 - Karma: -1,227
RusticlesI hope this does not come off as a claim. The year I graduated I made $107k, that is abnormal due to the fact that I had previous education that helped, I think I was 25 or 26. since then I had one bad year below $100k due to changing employers when economy tanked. I have been hovering about 125k to 150k since.
Unfortunately I may have plateaued already.



Do you work in the tar sands of Alberta by chance?
Jul 3 2014 3:10PM
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cornholio
Posts: 3952 - Karma: 3,057
RusticlesMissed that post, that's great that you got your education for free.

$450000 is not a typo. I guess that is pretty steep then? If salary's are high then so is cost of living.


im in a medium sized city, $450k for 1800 sf seems reasonable. we have a 1200 sf condo we got for a little under $300k years ago right before the economy went to shit.

to contribute to your earlier question we bought it in our early-mid 20s, did not have any student debt and combined income was $100k+. I think it would have been harder to swing initially if we were paying off loans at the time.
Jul 3 2014 3:11PM
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Campeador
Posts: 7516 - Karma: -1,227
louie.miragsI'm going to be looking at houses soon. My sister and her husband are in their late 20s with student loans and they have a house (mortgage obviously). They are both teachers so average pay.


Don't do it man! You're way too young for a mortgage, don't shackle yourself to the things you own. Mortgages are a terrible deal.
Jul 3 2014 3:17PM
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iFlip
Posts: 4543 - Karma: 19,132
louie.miragsHowever, there is something that after a few years teacher's loans get forgiven or something. Not too sure


This is incorrect in all 50 states. It's not a bad idea as far as teacher retention, which has been a real problem. 50% of teachers quit the profession within their first 5 years. I wonder if their loans were forgiven after 7 years if we would see a glut of terrible, miserable, unhappy teachers, or instead people more committed to the profession. It's an interesting idea.
Jul 3 2014 3:37PM
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Rusticles
Posts: 2180 - Karma: 1,337
BandoleroDo you work in the tar sands of Alberta by chance?


No I don't work in the Oilsands, however I am well aware that my income has been inflated due to the economy in Alberta or western Canada in general. The city that the oilsands are nearest, fort mcmurray. has housing prices that are redicoulous compared to the rest of the province, It is absolutley insane that a house 5 hours down the hiway is double the price.
Jul 3 2014 4:14PM
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louie.mirags
Posts: 6015 - Karma: 5,029
BandoleroDon't do it man! You're way too young for a mortgage, don't shackle yourself to the things you own. Mortgages are a terrible deal.


I live with my parents now and am staying there to save for a bit. I just can not imagine paying rent when with the same payments I can get a house. It would take years to save for a house without a mortgage. What do you recommend?
iFlipThis is incorrect in all 50 states. It's not a bad idea as far as teacher retention, which has been a real problem. 50% of teachers quit the profession within their first 5 years. I wonder if their loans were forgiven after 7 years if we would see a glut of terrible, miserable, unhappy teachers, or instead people more committed to the profession. It's an interesting idea.


I'm not sure the exact way to get your loans forgiven as a teacher, but there are certain scenarios when they are. I did a quick google and it finds info on it, I knew I heard them talk about it.
Jul 3 2014 4:44PM
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