Recent College Grad Salary vs Debt?

[westjones]

1. I graduated with an M.S. in Communication Disorders and Sciences in 2010. I had a contract signed about 4 months before graduation.

That is an interesting major. I haven't heard of that. I am assuming it is different than Speech Pathology? But is it similar?

One of my daughters who is in college right now, has Auditory Processing Disorder. She worked with the people in the Speech Pathology department on this...but it is more of a communications disorder. It doesn't effect IQ...it has to do with processing verbal information and being able to filter out the other verbal input around you.

Anyway....interesting major. Good Luck to you!!!! I am sure you will do wonderful things. There are a lot of misconceptions about disorders like this. We need good people in this field to help those children who are effected.

 

[Denise W]

My daughter went to school in New York on Long Island and got her BS and MS in a 5 year program (math/elementary Ed/special Ed). She graduated in May and got a teaching job in Queens, NY in July. She has no debt and her starting salary is about $50000.

Denise

 

[tasha99]

That is an interesting major. I haven't heard of that. I am assuming it is different than Speech Pathology? But is it similar?

One of my daughters who is in college right now, has Auditory Processing Disorder. She worked with the people in the Speech Pathology department on this...but it is more of a communications disorder. It doesn't effect IQ...it has to do with processing verbal information and being able to filter out the other verbal input around you.

Anyway....interesting major. Good Luck to you!!!! I am sure you will do wonderful things. There are a lot of misconceptions about disorders like this. We need good people in this field to help those children who are effected.

It's the same as speech language pathology. I do wish it was more out there for college kids and high schoolers--there is a shortage, and most people I know in the field have not only gotten jobs they applied for but were the only applicant. You never see it on those yahoo jobs articles, though. Same with Occupational Therapy,

 

[FINFAN]

I *think* there is a general rule of thumb to not borrow more for your full education than you expect to earn in your first year....however I know there are exceptions such as doctors etc., but in general. So, one needs to look at what positions are paying now, and cmpare that to the cost of a college they are thinking of. I am pretty sure it is geting tougher and tougher to keep the cost of borrowing for the average family at 1 years salary, but is can be done, I think.

 

[westjones]

I am just wondering how many are not getting that first year of salary they expected though. The people responding here sound like their kids are doing very well.

Yet locally here I know of kids who graduate and are having trouble finding jobs and are taking whatever they can get and are spending all they make on their loans.

I guess there is no way to know what it will be like in 4 years. But I am glad to hear some are doing well and getting those jobs.

 

[Green Tea]

My child graduated this year with no loan debt and an offer prior to graduation. Was completely self sufficient at graduation.

 

[kamik86]

I graduated in May 2009 with BS in Software Engineering.

I had about 22-23K in student loan debt

I had a job offer the March before for 61K. They also paid for my masters which I finished this May. I am now making 67K

 

[A_Princess'_Daddy]

So brother makes $75k
And other brother will make 5x as much.....$375k -To START ?

I realize it sounds surprising, but I did a joint Ph.D./J.D. program from a university with a very strong network in the financial services sector and my first job in the sector, about ten years ago at 26 years of age, was for significantly more than that. I was even more blessed to come out without any student loans, so even with the lost opportunity cost of being in school a few extra years, I caught up quickly.

My firm now hires candidates with a skillset like the PP's son in the low $500K range (I assume he'll be an analyst?). I agree that it's crazy, but starting salaries in the financial sector are incredibly high for those with the skillsets that are needed by the industry...

 

[Darcy03231]

Ok - I'll give the other end of the spectrum.

DS #1 graduated with a Masters in Civil Engineering in May 2010. Although he did internships throughout his undergraduate and graduate programs, there were no jobs when he got out of school. Grades weren't an issue as he was in the top 2% of his class.

He spent the last two years working at Barnes & Noble and a wine shop, both part-time. He was contacted this summer by one of his old professors and asked to head up a research grant program (2years - full time) and teach a class at the University part -time. The class he's teaching is some kind of new technology that being used. Now there has been a lot of interest by engineering firms because of the class he's teaching. I guess if you're going to use new technology it makes sense to hire the person that's teaching the class!

Student loan debt is in the vicinity of $80k.

 

[Snowysmom]

My DS graduated in May with a degree in Finance. He was offered and took a job at the company where he did his last co-op job. He makes between 50 and 60K with bonus potential. His college loan debt was about 40K. He paid off some of it before graduation with an inheritance. He is on track to pay off the rest within 18 months. He is living on his own and paying his own bills.

 

[leahjade]

PayScale Inc., in a survey of more than 7,000 respondents, indicated that salaries for many financial analysts averaged between $44,000 and $63,000 a year, which may be an accurate reflection of starting salaries in this profession. The website reported that more than 70 percent of its respondents had less than four years of experience. Beginning analysts’ salaries ranged from $38,927 to more than $51,000 a year, PayScale reported.

I find reports of students starting out right out of college at $375,000 or $500,000 unbelievable.

 

[punkin]

I find reports of students starting out right out of college at $375,000 or $500,000 unbelievable.

$375K seems a bit high, but the numbers you quoted are for a different type of position. I would not be surprised if PHDs with certain math skills in demand on Wall Street can make at least $150-200K starting out.

 

[fae]

I find reports of students starting out right out of college at $375,000 or $500,000 unbelievable.

Certain law firms can pay upwards of 150k/yr plus signing bonus.

 

[allison443]

Certain law firms can pay upwards of 150k/yr plus signing bonus.

That salary is not for someone "right out of college" with a bachelor's degree, though.

 

[allison443]

My school (University of Oregon) had no connection between the bachelor's and master's. They graduated about 70 bachelor students, and took in 23 Masters students the year I went, so they couldn't really tie the two together.
A lot of us thought it should be a 3 year program--I took 17 grad credits per term for 8 terms, with 9 credits being considered full time. It was just crazy, and I can't say I'm not glad to be done. I have heard that some schools have tracks--you can choose medical or educational. Oregon required both, under the theory that your license would allow you to practice in either venue. I had to do both medical and school externships, but I know other slps who just did one.

It's a great field with a lot of opportunities. My whole class was employed long before graduation. Good luck to your daughter. My daughter is a sophomore in college and planning to be an slp as well.

**Just a tip for getting into grad school. I think having volunteer hours in the field is essential. I did hearing screenings for the local school district. I also had a professor tell me that in looking at applications, they strongly considered GRE verbal scores. This is all way down the road for your daughter, but the key is getting into grad school, since there are more people getting their undergrad in the field than there are slots in graduate school. Without the masters, you can get a job as an slpa, but not every school district allows them, and there aren't many medical opportunities at the bachelors level.

Edit to add: While most people have a BS in Communication Disorders, the other undergrad major you see a lot of is Linguistics with a few extra classes (such as Anatomy of Speech).

Thank you so much for taking the time to share this info. Very helpful as we are just starting to look into it!!

 

[jameswilson799]

It's all depends on the individual person, his or her skills, academics, experience, and economical positions and the most important job market of the country, we can’t predict anything.

 

[pigletto]

My husband decided to go back to school 3 years ago. We of course chose very carefully because with kids and a house and responsibilities we HAVE to make it work. No options to get an expensive degree that will get him nowhere.
A family friend who is in the field highly recommended this program that is the only one of it's kind in the area.

So at considerable sacrifice we decided he would do it. Because it's paid co-op every other semester we are able to make it work.

He will graduate next year. The employers in the area come to THEM. Not the other way around. He kept his grades very high and will have his pick of jobs, some obviously better than others. The program is boasting a 100% placement rate. Both co-ops so far have asked him to come back and apply when he is about to graduate. 2 people in the program with him are already hired from their co-ops and their employers are accommodating them so they can finish the course work.

It gave me some insight for when my dd is ready to apply. I am encouraging her to do her research and pick something in demand. Maybe it wouldn't be her first choice of career but I have just seen too many people go for degrees that ended up not having job availability on upon graduating.

 

[blessedby3]

My dd22 just graduated in May with a BS in Communications (specialization in Journalism). She lives in a smaller community and had a hard time finding a job. She ended up in the promotional publications department of her college starting out at $24,000 plus benefits (one of them being free college if she and DH want to go back--which they will). She has college debt, but not sure of the exact amount right now. It took her a few months to get this job and she went on 4 different interviews.
She got married in July and thankfully her DH came out with no college debt. He was an accounting major and we thought he would be able to find a job easily. NOT the case. He looked in the city they went to school in and in our city about an hour away. He sent out about 40 applications and heard nothing. Thankfully he was in the middle of an internship and they wanted him to stay on full time. He is making about 26,000.
Many of DD's friends do not have jobs in their majors and are working at the mall, Panera, Barnes and Noble, etc. Pretty sad and scary these days....

 

[hj0519]

Graduated in May 2012 - history major, business minor

1. How long did it take to find a job?
I started (sort of) seriously applying to places in March and was hired 2 weeks after graduation by the company that I interned with in the summer of 2011.

2. What was their starting salary?
I'd rather not say on a public message board what it is exactly, but I'm a Marketing Assistant and my salary is typical for an entry level marketing job.

3. How much college debt do they have?
None.

 

[jsmith]

To answer a couple of questions-yes there are linked bachelors/ masters programs-the one my younger son attended was at CU Boulder and they are offered in the college of engineering. The student maintains continous registration until graduation with out a break or an "undergrad" diploma being awarded. The program takes between 4 1/2 and 6 years depending on the student and their willingness to take large class loads and go summers.

Yes that figure for my older son is roughly correct-its with a british firm and is paid in pounds sterling so it varies a bit in US dollars. He is not just out with a bachelors-he has a masters in economics and will have a PhD in physics.