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What would be a reasonable salary range to expect? What is the long-term potential?

My name is Ian i'm 16
#money #salary #financial-planning #scholarship #finance

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Rachael’s Answer

Hi Ian,

Great questions. It's great you are starting to consider these things now. To answer your question regarding a reasonable salary, according to CNBC the average annual salary for 2019 college graduates is $51,347.

https://www.cbsnews.com/news/sorry-class-of-2019-salaries-for-recent-college-grads-remain-flat/

Keep in mind this will vary depending on a variety of factors such as your location, company, position, etc.

Regarding long-term potential, here is a chart of the highest paying jobs with a bachelor's degree as well as a separate chart for an associate's degree with early and mid career pay for your reference.

https://www.payscale.com/college-salary-report/majors-that-pay-you-back/bachelors

https://www.payscale.com/college-salary-report/majors-that-pay-you-back/associate

As you can see, the salary range and long term potential are going to depend on the type of degree you obtain and major your pursue. That said, salary is not the only factor in a career. I suggest you choose your career path with your interests, passions, strengths and weaknesses in mind.
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Beth’s Answer

Ian,

Salary range depends on several things, including what job you are hired into AND the city where you will be performing the job. If you can answer these two questions, I can be a bit more helpful.

Beth

Beth recommends the following next steps:

Come up with a list of 3 jobs you would like to have.
Come up with a list of 3 cities where you would like to live.
Go to www.salary.com and do some research on those jobs in those cities.
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Richard’s Answer

There is a ton of variation based on prestige and function. Top investment bankers:

85K salary is standard across the street for first years, 95K second year, same third year as analysts, with a large step up if you get promoted to associate. Bonuses depend on the tier of the firm and range from low 25K to as much as 100% of salary at top tier firms by second year.

Of course, for more corporate/ops/other professions the standard will be much lower

Long term potential is the moon: most people drop out first though. Top hedge fund professionals may make a million a year.
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Harrison’s Answer

The salary will depend on your specific job and the city that it's in. Some starting ranges would be $50k-$85k. The long term potential can be more lucrative, but will depend on your performance.
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