Monday, February 13, 2006

Chin Up Fellow Aspiring Economists!

Notice the "liberal" arts majors, which coincidentally is what most liberals major in.

Hee hee...yeah, you guys suck.


JTapp said...

I hope a masters degree adds exponential value.

DMKhldibo said...

are you kidding??

oh, wait...ooohhh. 50K for a masters degree

and it's 40K for the GDP per capita?? seeing as how a master's degree brings a minmum of 30K of debts post college (and that's not counting your medical degree which can be up to 180K), you get to work for...(assuming you put 1/2 your salary towards the debt-living expenses for the rest, etc etc) get to work for 4+ years at 48K paying that off. that's if you can live off of $1000/mo-according to capt, you can't commute more that 15minutes.

thinking of becomming a dr?? the starting pay is 50K-after 4years of master's school, 4 years of internship (minmum-it can go up to 8 for plastic surgery)living off of your loans because they don't PAY you to be an intern...then you get hit with the malpractice insurance that takes 1/3 of your 50K (that again goes up for plastic surgery), what a life.

Oh, wait, why not go to your 2 year business school, get a comp sci certificate and make 52K. hmmm

So, Capt, what to consulting economists make? Can you start your own school and create a massive population of Captians?

DMKhldibo said...

Oh, wait, capt

did you see that liberal arts is up 6%?

can we laugh now?

JTapp said...

The 2% drop in Comp Sci salaries is what I find interesting. The outsourcing of basic programming work to India is lowering the wages here to be more competitive.

Jonathan said...

Is this for right out of college or with some experience?

I have seen ads like this:

"Wanted C/C++ Programmer with Linux Experience

Opportunity to work in a large enterprise environment with significant career growth.

Required skills include 10 years experience with ANSI/C, C++, TASM or
related Assembly experience, Linux/UNIX kernel development, OOP
experience, and at least 7 years writing device drivers.

Starting salary $29,000 /yr."

That is one insane ad. 5 years ago I hope you would only accept that job at $150k/yr.

I am a Managerial Economics major and I don't think I'll be making $45k during the first year. Maybe $40k/yr here in California.

Captain Capitalism said...

That's what I noticed too about all those "starting salaries" figures.

I would have killed for those figures.

I think somehow they're systematically overstated. That or I've been living in the blue collar world too long and college grads who have their nepotistic daddy's connections pull in $70k to bring up the average, which world I do not see.


2nd best line of work I've seen is to just become a carpenter, fix up old houses, and then sell them. That's what I'd do if I could do it all over again.

Best line of work is robbing banks. Easy, but risky and there's that minor element of going to jail.

In both cases you needn't pay off student loans.

Andrew L said...

Yeah, those figures seem way to high. Even the liberal arts majors' salaries look appealing!

Is it possible that the statistics include students entering the workforce with a graduate degree? I could almost imagine someone with a Ph.D in History or English raking in 30 Grand American every year, but there's no way a BA could be worth that much.

David_Z said...

A B.A. in History or English will fetch you $40K where I'm from, if you can get a teaching job in high school.

A B.A. in International Business, and fluency in French will get you stuck pushign envelopes for $32K with no hope of advancement. If I had known that the B.A. in IB was useless, I would've majored in Finance or something. But nobody bothered to tell me that, and I can't get a refund on my college edu.

So, let's just take out some more loans and get a Master's Degree in the "Dismal Science," which happens to be increasing in desireability lately...

I should finish sometime next summer.

DMKhldibo said...

doinkicarus- "dismal science"? What's that? Do you study politics or evolution and find out that insects really do rule the world or something?

Where's the capt?


Frank said...

"Where's the capt?"

Yeah, that's what i was thinking, has he disappeared?

The insects won’t rule the world for much longer - computers and robots will enslave us for the rest of time soon enough. It's already started:

I found this on today. It seems like they've already got their reproductive organs up and running. Get a computer science degree - it pays good money now and it may save your life one day when these evil machines eventually take hold.

JTapp said...

At Baylor they tell their graduating MBA students to expect $60k+/year starting out. I think that's nuts.

Capt (if you ever re-appear). Did you see John Stossel's special last week on ABC in which he ripped Lou Dobbs, and made him look completely ridiculous for opposing outsourcing & free trade?

Kirsten said...

Well the engineering numbers look pretty realistic to me. I guess my statics professor was wrong back in the 1990's when he tried to convince us that there was no money in engineering and our peers in the business college were going to make all the money.

Jonathan said...

When do you not need engineers?

I was talking with my housemates who are bio-majors (one bio-chem and two molecular bio majors) and they were talking about the pay for lab jobs in the city of San Francisco. They said that the pay was only $35,000/yr. I am amazed! There are so many bio and pharmaceutical companies springing up in Northern California that I thought they would be in high demand. Our state also passed a $3 billion dollar stem cell research bill about a year or so ago.

I went to the job fair and some of the jobs they said I should apply for (as a man. econ major) start at $48,000/yr in Sacramento.

Captain Capitalism said...

Yeah, but what does it matter waht they pay you guys in Cali? once they take out all your taxes, you're still only making $3400 a year.

I really don't know how anybody can live in that state.