Posted on 02/18/2016 4:19:40 AM PST by expat_panama
Millennials are in better shape financially than you might think. The situation is especially sunny for college grads.
After their wages declined in several calendar years since 2002, millennial college grads saw wage hikes in 2014 and 2015.
Also, their unemployment rate has trended lower since March 2011.
In fact, the key economic divide is not between millennials and older workers. It is between millennial college grads and those without a degree, according to new data from the Federal Reserve Bank of New York.
Altogether, this provides degree-holding millennials with much sounder financial planning prospects in general and retirement planning in particular.
In addition...
...The conventional wisdom says millennials of all stripes suffer from high unemployment and low pay. You know the image: They live in their parents' basements, and the lucky ones hold part-time jobs as coffee shop baristas. But that's not true for millennials who hold college degrees.
Millennial bachelor-degree holders aged 22 to 27 earned a median wage of $43,000 last year. That was up from $39,992 the year before, and marked the second straight year their median wage rose...
...people in that age group without degrees have seen their median wages trend lower since 2009.
And young college grads are also doing better when it comes to landing jobs. Both they and their non-degreed age group have seen their respective jobless rates move lower in recent years.
But unemployment among millennials with degrees is now much lower...
...The overall median wage for workers between 22 and 27 with a degree was $38,000.
The next four majors: general engineering, at $55,000; computer science, $54,000; miscellaneous engineering, $52,000; and business analytics, $50,000.
At the bottom of the New York Fed's list of 73 majors: family and consumer sciences, earning just $28,400.
(Excerpt) Read more at investors.com ...
for later
My boys are all going through an engineering cluster in high school. They pick which path they want to take during freshman year and then the school has a series of classes to take them down that path throughout high school. One son who is about to graduate will be going to college for aerospace engineering and the other I think will be more into computers. My youngest hasn’t decided yet, but he has plenty of time.
Two sources. Hiring new recruits and my own paycheck.
I’ve been told that pharmacists make at least 80thou right out of school, and probably higher...
OK, got it.
The economy is great. Rush is a fraud.
Bookmarked
That's because those communities are disaster zones. You can put the nicest, newest, shiniest schools there, and staff them with the most eager, idealistic teachers you can find, and in 10 years they are graffiti-ridden dumps and the idealistic teachers have not just transferred but quit the profession altogether in shock.
ie, lunch.
LOL!
The public schools could do this as well if they got their act together. That is the challenge. Most kids, even from poor backgrounds, are educable. The hard core incorrigibles should go to a reform school, or straight to a chain gang, and I don't much care which.
Catholic Schools do not employ union people. That’s the difference.
I am wondering what kind of job you do with “Ethnic Studies”?
What employer would pay $60 thousand a year for that?
Pharmacists make a boat load more than listed here. Coming out of school making 3 figures.
At one point, the company I worked for was expanding into Brazil and was looking for Portuguese speakers. Locally, at least, there were very few, and the company wound up paying top dollar to the couple they could find.
A few events like that would quickly distort the market.
In general though - you're right. Anything with "Studies" in the title is usually worthless.
We called that "Home Economics" in Junior High School. I didn't know it had morphed into a college degree. Is that what young women take to earn their MRS degree? (Very old joke that doesn't seem to apply much anymore)
It cracks me up every time I interview a millennial for a software dev job that asks for 5-7 years experience. They ask for $100K+. I just smile and go to the next idiot. Even the entry guys (less than 4 yrs) want me to pay them $85K+.
Q: How does an engineer get an artist off his front porch?
A: He pays him for the pizza.
Want to improve schools in poor and ethnic communities? Allow school choice and let interested parents self-select.
“I’ve been told that pharmacists make at least 80thou right out of school, and probably higher...”
Yes, a starting salary of $40k is off by about 50%, at least for full-time people. Interestingly, about 2/3 of new pharmacy grads are women.
family and consumer “sciences” ?
In other words, Home Ec. Except you learned things in an old home ec class.
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