This is a shot at who?

 

I know who...

 

Not everyone is getting these kind of salaries...in fact, if I had graduated a few years earlier, i likely would have started close to 68 -70. I graduated with a LOT of IT experience, and significant leadership, 3 excellent internships, 2 with fortune 100 companies.

The people that were average in college now.....well, they're sitting at home and only the ones that busted their hump and worked REAL experience building positions rather than "computer lab monitor" are the ones getting jobs nowadays....at significantly depressed salaries.

The program I was recruited into is similar to what the 350zSpeedRacer is a "member" of...its called the IMLP. I work for GE Medical Systems and GE has this company wide program grooming IT Leadership....they recruit selectively, THROW $$$ and training at you and expect you to be the companies leadership within 10 years. While we dont usually make CEO in 10 years, it hasn't been unheard of for IMLPs to make CTO or CIO at age 35.

 

After federal taxes, social security, and STATE TAXES (Wisconsin taxes BLOW), 401(k), medical contribution, pension contribution, i take away $1350 every 2 weeks - meaning $2800 a month.

$200 in Emergency Savings
$150 In Gas
$75 in Insurance
$50 Car Maintainence
$900 in rent
$300 in Water/Electricity/Natural Gas/Garbage Fees/Expanded Cable
$300 food/groceries/grooming
$100 in Eating Out/Entertainment
$500 in student loan/debt repayment (i took everyones advice and now have studnet loans to pay back rather than Credit Card debt...thanks all)

Not much left after all that....

 

It's all good, though. Turns out, I'm kinda on the fast track at my new job--they're prepping me for the CEO position in 10 years.


I will second this.

Everyone in my field is extremely young. If your not making 125K by 30 in broadcasting sales, your out! My current president was promoted to SVP Broadcasting sales at 34, President of Turner Sports by 36, President Turner Entertainment (TBS and TNT) and Sports by 38. Now, (Mark Lazurus) is President of Turner Entertianment Groups (Everything imaginable under the name of Turner, except CNN) and he's only forty!

Moral to the story is younger people can be big dogs fast.

BTW: He started as a camera man at ABC!

 

Seems like you make 1350*26= 35100/12=2925/month after taxes. Find a cheaper place to live and you are almost there. Luckily, I don't have the loan to pay back for school. I guess that is my Z money since I have the Ranger for work, too. Man, I wish I could have the Z only. All that Ranger payment, insurance and gas is eating my mod money alive!!

 

get a roommate/girlfriend to split your housing costs and you'll have (900+300)/2 to spend on your car. aka 600$ which is plenty for a new 350Z.

 

Those reading this thread and in IT and thinking, "I do not make enough money" based on the posts, do not fret.

First off, most of these people are lying or being lied to. No one is groomed for CIO or CEO right out of college, this just is not reality (at the ages I am seeing posted here ... 22, 23 yrs old).

Second, I can make $75,000 in Harrisburg PA and take much more money home then a person making $125,000 in Boston MA for example.

Third, if you have massive high interest loans to pay off and are trying to buy a car worth min. $25,000 then you are not mangaing your money or your future.

 

exactly who are you referring to? Being as though I think I'm the only one in IT that posted, I think you must be talking about me. If so...I do not have to lie about my salary. I will prove it to you. Also, I didnt say I was groomed to be CEO or CIO so I guess that part wasnt to me. But some companies do train people for leadership positions such as Sprint's EXCEL program: http://www.sprint.com/aeprogram/index.html#excel

And my four-semester college loans arent high-interest. I guess that part wasnt for me also.

 

nissan350z: I was generalizing. I scanned the posts in this thread and I saw a lot of claims about salaries, age and positions which did not seem to be realistic. Mentioning IT sepecifically is my fault ... I was not meaning to single you out.

 

I say wait. The payments just last so much longer than the novelty. I think it was more fun wanting to own a Z than actually owning it. I know that sounds weird, but between the payments, insurance, and worrying about every little nick and ding it just isnt worth it yet.

 

why do these old threads keep getting dug up??

 

dont be an idiot.

forget about the z.

make the lady happy, and put the max into your 401k and a roth IRA.

after a while, when your cc debt is paid off, youll be able to afford the z.

and when you're 50 you can buy 20 of them

i gradated 2 years ago and i do very well for myself. you can make it work too. between my wife and i we have a new house, the Z we just got, and some student loans/a bit of cc debt. we have retirement funds and roth IRAs set up, and we are beginning to trade in the stock market.

see if you cant get those cc rates cut down some! worst they can say is no. get a 6mo 0% rate card, eat ramen noodles (you should be used to it, 1yr out of school), and pay that **** off as fast as you can.

indulf

 

So they're still claiming you as a dependent then on their taxes? (scratches head)

Otherwise you should be able to get student loans on your own. I've never heard of parents having to co-sign. I've run into cases where financial aid institutions won't give you financial aid because your parents "make too much." My wife ran into that during undergrad and she had her parents write a letter say they were not supporting her in school and they gave her loans.

Student loans have dirt cheap interest.

 

I'm also 22 (will graduate next year- I'm on the 5 year plan) and am already saving to buy my Z.

The way I look at it, the years after graduation are the perfect time to go wild and enjoy life. You have the energy and curiosity of a teenager, but the maturity and money of an adult.

Personally, once I hit 28-30 and get married it's all over. No more working out (what for? I already got the girl), no more sports car. Nothing left to do but squeeze out the pups work on the beer belly.

 

It is really hard to beleive all the money that is being talked about here. some of it is bull but some is true. To all I will say this, the best thing you can do for your self when your young is to SAVE MONEY. HOwever you acheive that it doesn't matter. What matters is SAVING MONEY!!! PAYING YOURSELF FIRST!!!
Get rid as much debt as you can. Interest used to be deductible but now, except for property, it is a waste of Money.

Maximize that 401K especially if you get any type of matching funds. NO 401 set up an IRA or a Roth IRA. Either the most important thing you can do for your financial future is to PAY YOURSELF FIRST!!!!

Can't afford the payments for a new Z then get yourself an older TT or even bettar buy yourself a 280z for weekends. It will only go up in value.

Well that's my .02 worth.

By the way got my Silver Chrome track model as a XMAS present from my wife. We've been married for 34 years and because of the above we can do just about anything we want.

Az240z

PS: the most we ever made was 45K until 5 years ago. Raised 3 kids and was still able to PAY MYSELF EVERY PAYDAY.