It claims salaries have increased only 35 percent. This seems incorrect to me. For example starting salaries for new developers where I would is roughly 30k (British pound) this is pretty much twice what I started on in 2006.
Gen Z Is Overestimating the Average Starting Salary by $50K, Survey Finds
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Re: Gen Z Is Overestimating the Average Starting Salary by $50K, Survey Finds
#22> Current graduates are simply asking for their compensation to reflect the cost of living in the United States. If the entire GDP of the USA, after taxes, were simply taken (about $15 trillion) and equally distributed among the ~210 million working age adults of the United States, each would receive about $70,000 a year. If the 70 million university graduates were each paid a handsome and deserved $150,000 (hey, tha…
yes, but I think we need to start discussing what value college is actually bringing to society. Many of these majors do not contribute directly to wealth growth (but teach 'skills' such as critical thinking etc.) Higher education has no incentive to lower prices because they carry none of the risk if a student defaults. Even worse, there is no guarantee that students will be financially successful after graduation a…
There's an argument that too many people going to university can destabalise society:
(Economist article)
https://web.archive.org/web/20220713015644/https://www.econo...
Re: Gen Z Is Overestimating the Average Starting Salary by $50K, Survey Finds
#23I applied for my first career job (read: first job that wasn't "you don't get a living wage" retail, and which actually used my degree) 4 years ago. It's the job I'm currently still at. When I applied, it was for an entry level position at $35k. After the interview, I was offered a senior position instead for double that salary. Apparently, my current salary after 4 years of $81k is still on the low end for a senior…
Well put.
It also makes zero fiscal sense to lose an experienced, onboarded and productive employee due to tiny/non-existent raises, to then have to spend more money finding, interviewing, hiring, onboarding, and pay the new person more- but companies seem hell-bent on perpetuating that cycle as well.
Re: Gen Z Is Overestimating the Average Starting Salary by $50K, Survey Finds
#24My town in the Bay Area has always been considered one of the more "affordable" options (which is why we live here). The estimated cost of living to do more than just survive here is roughly estimated to be about $96,000/yr. That factors in rent / mortgage, food, transportation, etc. So who are really the one's doing the poor estimating? The new college grads staring down the barrel of a career that will allow them t…
I can't imagine why new college graduates would want to torture themselves by moving to the Bay Area. It might have made sense 20 years ago, but now there are better options for the vast majority of people.
We can complain about the causes including lack of housing development, zoning laws, infrastructure, progressive politics, whatever. There are some important public policy issues that we ought to resolve. But the reality is that no matter what we do, the Bay Area is going to remain a shitty place to live for most new graduates. Unless you can earn very high pay, or have reliable access to cheap housing, my advice is to move somewhere else where you have a better chance to get ahead. Don't set yourself up for failure.
Re: Gen Z Is Overestimating the Average Starting Salary by $50K, Survey Finds
#25I applied for my first career job (read: first job that wasn't "you don't get a living wage" retail, and which actually used my degree) 4 years ago. It's the job I'm currently still at. When I applied, it was for an entry level position at $35k. After the interview, I was offered a senior position instead for double that salary. Apparently, my current salary after 4 years of $81k is still on the low end for a senior…
I know this is beside the point, but I'd shop around a bit if I were you. It sounds like you're still very underpaid
Re: Gen Z Is Overestimating the Average Starting Salary by $50K, Survey Finds
#26My 2 cents as a Zellenial: 1. I've spent an hour trying to find this survey but cannot. My hunch is it's an online survey with questionable reproducibility (especially after looking at similar research produced by Clever) 2. I'm not too surprised by my college aged peers overestimataing average starting salaries. With the increase in CS/ECE students and a relatively small but vocal minority talking about 200K TC out…
> I HATE the TC designation. that 200k TC is more like 140k/year when you factor in vesting
Can you explain this calculation?
Re: Gen Z Is Overestimating the Average Starting Salary by $50K, Survey Finds
#27ah see, the employers underestimating the cost to exist as a human being in today's economy
Re: Gen Z Is Overestimating the Average Starting Salary by $50K, Survey Finds
#28My 2 cents as a Zellenial: 1. I've spent an hour trying to find this survey but cannot. My hunch is it's an online survey with questionable reproducibility (especially after looking at similar research produced by Clever) 2. I'm not too surprised by my college aged peers overestimataing average starting salaries. With the increase in CS/ECE students and a relatively small but vocal minority talking about 200K TC out…
TC does factor in vesting, at least in typical form. It does assume you at least last the year, though.
What it isn't is recurring, though. At the same time, recurring pay is also inaccurate especially for junior roles since many companies L3 - L5 (Google definitions) equivalent are mandatory within certain time frames, eg up level or be fired.
Re: Gen Z Is Overestimating the Average Starting Salary by $50K, Survey Finds
#29I applied for my first career job (read: first job that wasn't "you don't get a living wage" retail, and which actually used my degree) 4 years ago. It's the job I'm currently still at. When I applied, it was for an entry level position at $35k. After the interview, I was offered a senior position instead for double that salary. Apparently, my current salary after 4 years of $81k is still on the low end for a senior…
I agree. I am in an entry level position right now and not making much, but I am hoping to push past that before long and make more. However, parent, teachers, relatives, everyone all said the same thing. "go to college, you you will make lots of money!" Turns out, that was a gross oversimplification and a CS degree doesn't automatically make money. You have to have a mix of experience and solid projects under your belt, and if you don't have those then you will suffer a lower paycheck for it.
Personally, I am tired of the rhetoric that "kids are too entitled! They expect MONEY when they graduate?" when that is exactly what everyone tells you practically from birth. If I have kids, I am going to try and make sure that going to college is an educated decision, and not some place they feel they absolutely need to go.
Re: Gen Z Is Overestimating the Average Starting Salary by $50K, Survey Finds
#30I applied for my first career job (read: first job that wasn't "you don't get a living wage" retail, and which actually used my degree) 4 years ago. It's the job I'm currently still at. When I applied, it was for an entry level position at $35k. After the interview, I was offered a senior position instead for double that salary. Apparently, my current salary after 4 years of $81k is still on the low end for a senior…
I know this is beside the point, but I'd shop around a bit if I were you. It sounds like you're still very underpaid
So I've heard. But I don't really care. I'm single. My current salary is enough to pay my mortgage, all my bills, all my student loans, my food bill, etc. and still have enough to not only save, but donate. I give a minimum of $1,200 to St. Jude's every year, plus assorted charities and even random Twitch streamers who make music if I like what they do and they seem like decent people. In other words, despite everyone saying "you should try to get more money!", I'm currently making enough that I'm literally giving large amounts of it away to people who need it more than me.
TL;DR: I don't care about making "as much money as possible". I only care about making enough money to survive comfortably and help others when I can, which I'm already doing. In fact, I'm currently working towards switching careers, and in the process I'm more than willing to take a pay cut if the new job is more fulfilling; I can afford to.