is 40,000 per year salary good?

[oklahomasuckstexas]

40,000 per year a good salary?

[Scola]

Depends, what industry, what level of experience, what degrees, etc?

Obviously if your a doctor it would suck but if your the kid flipping burgers its not bad.

[oklahomasuckstexas]

22 years old
no college degree

[Wild Cobra]

40,000 per year a good salary?
If you are young enough that you don't know, then for your age it is!

That's $19.62 an hour based on a 40hr week.

[Scola]

22 years old
no college degree

Its not bad, its what some kids coming out of college are getting. Do you have other offers? If not, I would probably take it, its hard to find a job with the current economy.

[oklahomasuckstexas]

its a desk job but they are also giving me a corporate lease vehicle that is no cost to me including all insurance/fuel/repairs paid for and i have the potential to make up to 10,000 a year in bonuses.

its for an automotive parts company

[whottt]

If you're single it's damn good money unless you live in Cali or NY. Not so much if you have kids. 22 years old with no college degree you aren't going to find many better paying jobs that aren't based on sales, putting yourself at risk of death or severre injury, or starting your own business.

[whottt]

its a desk job but they are also giving me a corporate lease vehicle that is no cost to me including all insurance/fuel/repairs paid for and i have the potential to make up to 10,000 a year in bonuses.

its for an automotive parts company

Is it sales? If it is sales based it's probably a bitch based on that kind of base salary. Better get good at sales.

[mookie2001]

So this is just a lame boasting thread then







Is a corvette z06 a good car?

[Wild Cobra]

So this is just a lame boasting thread then

Is a corvette z06 a good car?
I'll match you a Z06 and raise you a Ford GT.

http://www.diseno-art.com/images/ford_gt_0003.jpg

[jestersmash]

Depends, what industry, what level of experience, what degrees, etc?

Obviously if your a doctor it would suck but if your the kid flipping burgers its not bad.

Doctors make 40,000 per year for the first 5-7 years after medical school (well into their 30s), and that's with $100,000-$150,000 of debt on average.

On an hourly basis, they make about $12/hour during these 5-7 years.

Of course, in the past, after 5-7 years physician compensation shot up tremendously for specialties, with the average specialist making $220,000 per year, but they are in their late 30s by this time and have a negative net worth (i.e. medical school debt) to start with.

Most doctors are a far cry from being rich, the vast majority are middle class for most of their lives (MIDDLE middle class, not even upper middle class) and only live a more lavish lifestyle once they are well into their 50s or 60s, after years of a $200k+ salary, although this will slowly change as we move towards an era of public options 20+ years from now, at which point it will be more financially savvy to become a car mechanic than a doctor as far as money is concerned.

Doctors' compensation has gone down for the past 20 years every year due to inflation. It has gone down even more due to cuts in physician payment by the government (i.e. for medicaid). Congress just passed a 22% pay CUT to physicians for medicare/medicaid, and once the government has a stranglehold as the dominant seller of health insurance 20+ years from now, this trend will continue.

[Wild Cobra]

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The trouble some people get into:

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[Scola]

Doctors make 40,000 per year for the first 5-7 years after medical school (well into their 30s), and that's with $100,000-$150,000 of debt on average.

Do you mean during their Residency program? One of my friends is studying Medicine and he will eventually be a doctor. Right now hes about to start med school. So far hes managed to stay out of debt but will probably start borrowing money soon. I think its a good investment in the long run, mainly because its something he likes.

[jestersmash]

Do you mean during their Residency program? One of my friends is studying Medicine and he will eventually be a doctor. Right now hes about to start med school. So far hes managed to stay out of debt but will probably start borrowing money soon. I think its a good investment in the long run, mainly because its something he likes.

Correct, during residency. As a function of $ per hour it ends up being about $12/hour or so due to the obscene amount of hours that residents are forced to work.

Again, it's a good investment in the LONG LONG run...right now, but it won't be 20 years from now.

[florige]

I never knew that about doctors. I thought they came out of school making $. That sucks they make that little of money being as though they are in so much debt right after school.

[MannyIsGod]

its not bad, its what some kids coming out of grad school are getting. Do you have other offers? If not, i would probably take it, its hard to find a job with the current economy.


fyp

[spursfan09]

I think people who become doctors actually care about helping people and learning. Why else go to school for 8 years, then do a residency, for such low cash? And put yourself in so much debt.

[MannyIsGod]

Doctors make 40,000 per year for the first 5-7 years after medical school (well into their 30s), and that's with $100,000-$150,000 of debt on average.

On an hourly basis, they make about $12/hour during these 5-7 years.

Of course, in the past, after 5-7 years physician compensation shot up tremendously for specialties, with the average specialist making $220,000 per year, but they are in their late 30s by this time and have a negative net worth (i.e. medical school debt) to start with.

Most doctors are a far cry from being rich, the vast majority are middle class for most of their lives (MIDDLE middle class, not even upper middle class) and only live a more lavish lifestyle once they are well into their 50s or 60s, after years of a $200k+ salary, although this will slowly change as we move towards an era of public options 20+ years from now, at which point it will be more financially savvy to become a car mechanic than a doctor as far as money is concerned.

Doctors' compensation has gone down for the past 20 years every year due to inflation. It has gone down even more due to cuts in physician payment by the government (i.e. for medicaid). Congress just passed a 22% pay CUT to physicians for medicare/medicaid, and once the government has a stranglehold as the dominant seller of health insurance 20+ years from now, this trend will continue.

Sucks for doctors. Good for everyone else.

[Drachen]

Do you mean during their Residency program? One of my friends is studying Medicine and he will eventually be a doctor. Right now hes about to start med school. So far hes managed to stay out of debt but will probably start borrowing money soon. I think its a good investment in the long run, mainly because its something he likes.

Tell him to join the air force after he graduates with his undergrad. Seriously. My best friend joined the air force in conjunction with him getting accepted to med school. He had to go to Officer training, then started his classes. The air force paid for his med school, paid him monthly as a lieutenent (for doing nothing but going to school), and he got a basic housing allowance (though lower than a normal Lieutenant would get). The only time you could tell that he was in the military was during some of the vacations (summer, winter, etc.) he was pulled into action for humanitarian purposes (helping with the volunteers here for hurricane Katrina, etc). I think that this only happened 3 or 4 times the whole time he was in med school. He is currently in his 2nd year of residency (and he has gotten to choose where he wanted to go for all of his rotations and residencies), and he is making 48k. There are only 3-8 years of residency, depending on specialty. He is also still receiving his monthly stipened from the military. Once he finishes residency, he will owe the military 6 years. I think that this is a pretty sweet deal. He would always buy drinks when we all went out, and I would try to stop him but he would always tell me "my peers are graduating with 250k in debt, I don't really mind 25k in credit card debt." - good guy. Once he begins his military service he will be making 125k as a first year doctor (private 1st year doctors avg 225-250k) but he will not have to pay malpractice insurance, or student loan payments. Something to pass along.

[Drachen]

I never knew that about doctors. I thought they came out of school making $. That sucks they make that little of money being as though they are in so much debt right after school.

They don't have to start paying their student loans until after their residency is over, so when they start making their super bank, that is when they have to start paying their loans.

[MannyIsGod]

I think people who become doctors actually care about helping people and learning. Why else go to school for 8 years, then do a residency, for such low cash? And put yourself in so much debt.

The good ones are. There are without a doubt people in every industry who's primary concern on their career choice is financial but I'll never believe that the best doctors are the one driven by the thoughts of making a ton of money.

I don't see a problem with doctors making a lot of money but I also don't see them losing on out earning potential (which is suspect to begin with) if it means a healthier society.

[fraga]

No...that is an extremely low amount of money to be making...

[Frenzy]

Amount of money you make don't make much a difference IMO it's how you spend it. You make 40,000 a year and not a big spender your good. If you need to driver a gas guzzling hummer and live in mansion then obviously it is not enough. Same with people who earn 100,000 a year. People love to live above their means just to keep up with the jones famo.

Screw the jones.

[bigzak25]

its a desk job but they are also giving me a corporate lease vehicle that is no cost to me including all insurance/fuel/repairs paid for and i have the potential to make up to 10,000 a year in bonuses.

its for an automotive parts company



i think it's a pretty silly question if 40k is good money for a 22 year old with no college.

it's like duh, of course it is.

the question one must ask themselves for any position, is what opportunities will be available to you moving forward. but since you have no college degree, i'd say get you some experience under you belt, and just bank for a while, until you decide what direction you want your career to go in longterm.

[Death In June]

I think people who become doctors actually care about helping people and learning. Why else go to school for 8 years, then do a residency, for such low cash? And put yourself in so much debt.Doctors may start out at a relatively low salary, but they quickly make up their debt in a few years time and surpass and overlap say, the accumulative salary of a pharmacist or a nurse practitioner, which is paid near their max amount directly out of college. Doctors make exponentially more money than any health care professional. There's a reason the standards are so arbitrarily high, and that is to artificially inflate their income.

[Sigz]

If you save your money, and are able to invest and make money ON money... it is a great salary.

[whottt]

Sucks for doctors. Good for everyone else.

It's really not. Their salaries may have gone down but the price we pay certainly hasn't. There's a reason for that...and we just enacted legislation to make the same system that produces that result mandatory for pretty much everyone. And they aren't going to give the healthy people free anything, that's who are they counting on turning a profit from...that's going to be the first people they get money out of.

[The Reckoning]

nah doctors are worthless. they should know better than to go through 10 years of education and expect to make a decent salary. after all, their position requires no skill whatsoever and its not like theyre helping anyone. being on call is just an excuse to take your money when you wake up in the middle of the night with hemerrhoids. doctors don't have to sleep, they're too wealthy to sleep. anyway, its not your fault that America's a lazy fatass who doesn't take care of itself, its the doctor's fault because he's ripping America off. thats why we have Malpractice...to rip those bastards back off and give it to people who really deserve it. corporate businessmen.


and yes 40,000 is awesome if you don't have kids or a wife. live in a shanty for 20 years, live off 20,000, and invest big in everything else you make. go for it. get rich or poor trying.

[thispego]

Best advice evar

[JoeChalupa]

Learn to live within your means is the key. Hell, I know families who bring home 40K and are raising families and have homes. Thousands if not millions are doing it every single day.

[phxspurfan]

It's all about expenses man. If you're spending less than you take in (and have an emergency savings), youll be fine.

[Blake]

22 years old
no college degree

what will your insurance costs be if you get this job?

[MannyIsGod]

nah doctors are worthless. they should know better than to go through 10 years of education and expect to make a decent salary.

Poor doctors. They won't make 220 grand a year and will have to settle for the poor house.


Lets all hope doctors kids are good at sports in the future because that is the only way they'll actually get out of the ghetto.

[MannyIsGod]

It's really not. Their salaries may have gone down but the price we pay certainly hasn't. There's a reason for that...and we just enacted legislation to make the same system that produces that result mandatory for pretty much everyone. And they aren't going to give the healthy people free anything, that's who are they counting on turning a profit from...that's going to be the first people they get money out of.

Doctors make lots of money off healthy people. I know that healthy people have to go to the doctor ALL the time and have to have all kinds of tests run because when you're healthy you have high medical bills.

Insurance companies make lots of money off healthy people, not doctors.

And who said anything about doctors making less money right now anyway? He said 20 years in the future if we had universal healthcare (which is really debateable but I digress)

Pretty neat how you think doctors make money off the healthy, though.

[Blake]

Doctors make lots of money off healthy people. I know that healthy people have to go to the doctor ALL the time and have to have all kinds of tests run because when you're healthy you have high medical bills.

Insurance companies make lots of money off healthy people, not doctors.

And who said anything about doctors making less money right now anyway? He said 20 years in the future if we had universal healthcare (which is really debateable but I digress)

Pretty neat how you think doctors make money off the healthy, though.

I might be missing your point here, but my insurance company provides preventive routine checkups at no cost to me.

Pretty sure the doctor is making a decent wage for seeing me for <10 minutes.

[whottt]

Insurance companies make lots of money off healthy people, not doctors.


Gets it.

[MannyIsGod]

I might be missing your point here, but my insurance company provides preventive routine checkups at no cost to me.

Pretty sure the doctor is making a decent wage for seeing me for <10 minutes.

You're not the person the doctor makes the most money off of.

[Fillmoe]

25 years old... pharm d.. 100+k...

kill yourself

[Sisk]

So this is just a lame boasting thread then







Is a corvette z06 a good car?

that's what i'm thinking.. haha

[Blake]

You're not the person the doctor makes the most money off of.

got your point now.

[ploto]

I never knew that about doctors. I thought they came out of school making $. That sucks they make that little of money being as though they are in so much debt right after school.

Residents-- which last 3 to 7 years-- make that lower salary but they are still in training. Once they are out and board certified, they make plenty. A primary care physician who has the shortest residency (3 years) and makes the least is done when he is 29 and is making $150,000 per year.

[tlongII]

Insurance companies make lots of money off healthy people, not doctors.


Ever heard of malpractice insurance?

[MannyIsGod]

Ever heard of malpractice insurance?

Love to know how you're planning on segwaying that quote into malpractice insurance.

[florige]

Residents-- which last 3 to 7 years-- make that lower salary but they are still in training. Once they are out and board certified, they make plenty. A primary care physician who has the shortest residency (3 years) and makes the least is done when he is 29 and is making $150,000 per year.


Hell I could deal with that if I didn't have to pay back my debt until after I got finished with the residency. At least I know when it would be time to pay all the stuff back I would be making well over a 100k.

[phxspurfan]

Hell I could deal with that if I didn't have to pay back my debt until after I got finished with the residency. At least I know when it would be time to pay all the stuff back I would be making well over a 100k.

Quick note about going to school for those kinds of degrees -- I went to a private school (Boston U) for undergrad and was on a half-tuition scholarship. I still came out with debt and pay close to $600 per month in student loans, and will until about 2017 unless I somehow pay it all off beforehand.

If you add med school on top of that (standard for med students is pre-med or chem/bio, whatever and then med school), you'd have at least double that amount in debt and monthly cash flow hit. So even though theyd make more, theyd also be taking a huge cash flow hit every month so theyd be living just as limited as we are. That is if they are living within their means, which from experience of having such friends, they dont and go out and buy $80,000 cars because they feel theyve earned it.

Regardless of whether theyve 'earned it' after studying for so long and so hard to get there, they still basically are in teh same financial situation in the beginning as the OP is probably; with about as much coming in as there is going out each month.

Like Obama sez: live within your means!

[da_suns_fan]

22 years old
no college degree

Then yes.

[mookie2001]

But i'm 19 and don't even have my GED

is 40k still good?

[Sisk]

Damn cobra that was an intense chase scene with that GT

[ploto]

Hell I could deal with that if I didn't have to pay back my debt until after I got finished with the residency. At least I know when it would be time to pay all the stuff back I would be making well over a 100k.

You can defer many of the student loans while you are a resident. You can also get some of them paid off for you if you then serve in an underserved area.

Some medical students incur more debt than they really need to because the money is so generously handed out. They assume they will one day make plenty to pay it back. Medical school in Texas for a Texas-resident is about $10,000 per year.

[ploto]

they still basically are in the same financial situation in the beginning as the OP is probably; with about as much coming in as there is going out each month.

Someone making $15,000 per month can easily afford a $1500 per month student loan payment. That in no way compares to a guy making $3300 per month.

[MannyIsGod]

Someone making $15,000 per month can easily afford a $1500 per month student loan payment. That in no way compares to a guy making $3300 per month.

Poor doctors.

[Spurminator]

Just so I'm clear, this would be your second job? Like, for extra spending money?

[Cant_Be_Faded]

40k at that age with no degree is pretty bad ass bank

if you have opportunities for advancement you are set for the intermediate future





Also there is some very funny irony in this thread. I'll leave it at that..

[spursfan09]

Is breathing air good?

24 years old
no airway obstructions.

[peteee]

40,000 per year a good salary?
it depends on where you live I think. 40,000 is definitely an astrological number for some rednecks doing menial works in some remote southern villages, meanwhile the New Yorkers would consider you penurious if you live in Manhattan living on 40,000 dollars every year.

[Jacob1983]

Take the job. Being 22 with no college degree making 40K a year is living pretty good.:toast

[SnakeBoy]

Correct, during residency. As a function of $ per hour it ends up being about $12/hour or so due to the obscene amount of hours that residents are forced to work.


That sounds about right. When my wife was in residency she was getting 30k (14 years ago). The hourly breakdown will vary depending on the rotation. One rotation she worked so many hours that her hourly rate was around $5/hr but even on rotations with less grueling schedules it wasn't much per hour.

[Richard Cranium]

I live on less than that.

[Jimcs50]

Doctors make 40,000 per year for the first 5-7 years after medical school (well into their 30s), and that's with $100,000-$150,000 of debt on average.

On an hourly basis, they make about $12/hour during these 5-7 years.

Of course, in the past, after 5-7 years physician compensation shot up tremendously for specialties, with the average specialist making $220,000 per year, but they are in their late 30s by this time and have a negative net worth (i.e. medical school debt) to start with.

Most doctors are a far cry from being rich, the vast majority are middle class for most of their lives (MIDDLE middle class, not even upper middle class) and only live a more lavish lifestyle once they are well into their 50s or 60s, after years of a $200k+ salary, although this will slowly change as we move towards an era of public options 20+ years from now, at which point it will be more financially savvy to become a car mechanic than a doctor as far as money is concerned.

Doctors' compensation has gone down for the past 20 years every year due to inflation. It has gone down even more due to cuts in physician payment by the government (i.e. for medicaid). Congress just passed a 22% pay CUT to physicians for medicare/medicaid, and once the government has a stranglehold as the dominant seller of health insurance 20+ years from now, this trend will continue.



That's why you need to go to dental school.
I hired an associate right out of dental school in June and he is already making over 100 k a year.

[Richard Cranium]

That's why you need to go to dental school.
I hired an associate right out of dental school in June and he is already making over 100 k a year.

Not if you want to be a real doctor.

[Jimcs50]

Not if you want to be a real doctor.

yeah, but I can extract my own tooth on a bet in Las Vegas if I want to.

:p:

[The Reckoning]

dont denists have the hightest suicide rate among professionals?

[florige]

That's why you need to go to dental school.
I hired an associate right out of dental school in June and he is already making over 100 k a year.



Thats what I am thinking about doing.

[Richard Cranium]

yeah, but I can extract my own tooth on a bet in Las Vegas if I want to.

:p:

:lol And I bet you've some good stories to tell.

[The Reckoning]

i always feel like my denist purposely leaves a cavity on my back molar to rot so by the time i get back to him the next year he can charge me major bones to pull it.

bunch of scammers...

then he tries to scare me during checkups by his assistant mumbling to him "thats the worst case of decalcification ive ever seen." and the denist says back "oh, ive seen worse."

like, really? is that necessary to try to scare me into forking up more dough for procedures?

[JoeChalupa]

I have two friends that are currently in Dental School and the cost is $240,000 dollars.

No wonder the tooth fairy only leaves change these days.

[word]

22 years old
no college degree

That's basically $19.21/hr working a 40 hour week, no overtime and two weeks unpaid vacation.

Not bad for a 22 year old with no degree, I would say. If you have to work a load of overtime to get it, then not so much.

[JoeChalupa]

I know a few 20 yr olds making over $20 an hour working for UPS with nothing more than a diploma. The average pay is actually around 60K I think I just read on yahoo that UPS is hiring and looking for drivers.