In your chosen work field, how much do you hope to earn?

[samy23]

I'm looking into various careers, but not sure how much money I want to aim to earn through my chosen job. So before I decide, I want to hear what your views are on how much a person should be aiming to earn with a job that requires a college degree...? And how much you hope to earn in your chosen job?

[Ellien C]

This seems like a difficult question. I went to college right after high school and I didn't think at all about what I would earn (though I did think about debt and had a full-scholarship). I thought about what I would enjoy doing for the rest of my life. I had that "do what you love and the money will follow" attitude. For the most part it worked out, although at this point, while I'm satisfied and content with my job, I wouldn't say I love it. On the other hand, I work in IT management, I make good money, have good insurance and regular hours and I wouldn't trade what I have right now. I have a good balance.

I'm nearing 40 right now and I think I'm about topped-out for earning. I would expect no more than 5% a year (and not every year) in terms of raises. I also have an MBA which helped enormously on the earning potential ladder. I got a big bump in salary after I earned the graduate degree and got a different job.

[pinksprklybarefoot]

With a straight bachelor's degree, earning potential is all over the place. I know people with a BA earning $30,000 and some earning $80,000 -$100,000. Depends on what your degree is in. The only ones I knew in the upper range had engineering degrees of some type.

I plan on going to pharmacy school, which is a professional degree (Pharm. D.). Two years of undergrad work are required (but more and more schools are expressing a preference for an undergrad degree). I hope to earn around $100,000, which is pretty average for a pharmacist.

[Carita]

Don't forget geographic area matters a lot. For reference, high school teachers here make about 35K.

with my undergrad liberal arts degree alone, I wouldn't have made very much. A friend of mine is working with just that degree and I think she may be making around 35K, and its near the city where COL is high.

With my Master's I could get a community college job, make about 30K-40K, but only work 9 months/year. Or go into industry and start at about 40K-50K.

With a PhD, I can teach in a college starting at about 55K - 80K, or industry and make 60K-100K.

I do not want to work much more than 40 hours/week, so immediately, you can count me on the lower end of all of those. My husband is in engineering, and his Master's Salary is the same as my PhD salary :eyeroll:

[siobhang]

salary.com

[StephandOwen]

Using salary.com, a special education teacher in my area makes an average of $45,000. Obviously there is room on both sides of that number and when I actually get done in school that number could go up or down. But, while the money certainly doesn't hurt- I'm not in it for the money There are many reasons why I chose this particular field, and salary is toward the bottom of that list.

[Ianthe]

I am working towards becoming an IBCLC, and hope to start out around $35k/yr. They make between $35-50k, depending on experience, location, etc.

salary.com says they make between $52-72k a year.. but in my own job searches it seams lower than that.

[ALittleBitCrunchy]

I recommend salary.com as well. Geography, company, experience...everything factors into a compensation package.

[LilMomma83]

I want to be a campus aquatic director, I'm hoping for around 60K-80K, I'll probably be starting with something around 40K though, to get the experience to work at a bigger school.

[bauchtanz]

I would just say that if you pick a salary based on money and not what will makes you happy, you will be back here in a few years saying "Thinking about career change.... how did you decide what you wanted to do."

That said, I work in a non-profit as the director. I make $60,000 in an area that has a low cost of living. Even within my feild it varies, some non-profits have $$ issues, some do not.

[Dad in Training]

My wife, a regular poster here, has two degrees from state college that she expected to have a decent salary using; however, when she married me, she become rooted to DE where there are very few jobs in her find. As a result, she unhappily worked several jobs tgat were loosely related to that field. She even took a job as a teacher's asisstant at less that $15,000 a year. This summer she became an LPN (40K-ish) and will make more money than I do at my primary job when she goes back to work.

she always says to people "don't get a degree in a hobby." The notion of getting a degree in what you love is often not he most practical advice.

[meemee]

the key is knowing yourself.

what works for you.

what is your priority? its not a judgement. but just the way it is.

my super smart friend got a Ph D as a bug guy and worked for the state paper pushing. hated his job and his colleagues. however he enjoyed the benefits of all the good salary, benefits....

i could not do that. i did go down the money path. but after 15 years making good money it wasnt enough. gone back to school with the intention of getting a ph d in human ecology. money is soooo not a consideration.

i live in poverty right now. yet i couldnt be happier. i was existing before. now i am finally living. i find though i also really enjoy the college atmosphere.

[Pernillep]

Originally Posted by siobhang

salary.com

Actually, those are notorious for being incorrect.
Having seen and participated in many salary surveys I can say that for my market and industry they are usually 10-25% above actual market salaries. I hear several colleagues saying the same thing for other industries.

[Drummer's Wife]

I haven't found salary.com to be all that accurate, either. I do like the info on the Occupational Handbook from the Bureau of Labor Statistics. I read about careers there quite often.

http://www.bls.gov/oco/

[*MamaJen*]

I'm a journalist and this week the New York Times described my entire profession as a burning building. So I guess my answer is "not much." But my office is incredibly family friendly, so that counts for a lot.
Largely because of that, I'm thinking very seriously about grad school next year for public policy. It's a really affordable degree as those programs go and the salary on the other end is comfortable, not fabulously wealthy, but reasonable.

[BetsyS]

Originally Posted by Dad in Training

This summer she became an LPN (40K-ish) and will make more money than I do at my primary job when she goes back to work

Around here, LPNs can expect about $9/hour ($18,000/year).

I was a CNM before babies. The range for that around here is about $55,000 to $100,000. So, a pretty big range. Depends on experience, plus the type of practice (some are public practice, where folks only work 40-48 hours a week; some private practices expect 80+ hours a week; it just depends).

[basje]

Hmmm, I am planning on going back to school for my MSc next fall in Enviromental Science, and after two years doing that I think I can make at least $37.000, after 3-5 years experince 45,000-65,000 and after five years likely make 70,000- 1115,000 (working for the feds). I will be an "enviromental scientist" and work for private organizations (definately for the first 1-4 years to get a good salary history) and then for the federal goverment in the FDA. If I can also learn some computer modeling software I can boost my income requirements up another 10,000 per year. Jobs are located all over the USA, and abroad. So there is my research and plan.

[Momily]

Originally Posted by BetsyS

I was a CNM before babies.

Sorry, but this line cracked me up. Seems to me a CNM before babies would be pretty unemployed.

Of course I know what you meant, but the way you phrased it is like being a pilot before airplanes, or an automechanic before the internal combustion engine.

[BetsyS]

Originally Posted by momily

sorry, but this line cracked me up. Seems to me a cnm before babies would be pretty unemployed.

Of course i know what you meant, but the way you phrased it is like being a pilot before airplanes, or an automechanic before the internal combustion engine.

lol

[nina_yyc]

Originally Posted by bauchtanz

I would just say that if you pick a salary based on money and not what will makes you happy, you will be back here in a few years saying "Thinking about career change.... how did you decide what you wanted to do."

Yeah...but this is a money thread It's not a totally black-and-white choice for most of us.

I budget using the method from the book "All Your Worth" which recommends covering needs/wants with 80% of the family income, then using the remaining 20% for debt repayment/savings. I figured out what I needed to make for us to be in that position, allowing for expenses incurred by working like clothes, gas, and daycare. I don't want to make any less than that.