Author: Stefan Waldvogel
Do you want to earn a 6-digit number?
Do you want to get rich?
-> It is easy, just do your cert, boot camp or get a degree.
Many education companies will tell you a similar story, but what is the reality?
First, we have to understand a "normal" income in the US. Luckily, UScensus shows a wide range of data that is publicly available. The following picture shows you some numbers:
Do you want to get rich?
-> It is easy, just do your cert, boot camp or get a degree.
Many education companies will tell you a similar story, but what is the reality?
First, we have to understand a "normal" income in the US. Luckily, UScensus shows a wide range of data that is publicly available. The following picture shows you some numbers:
I do not have to talk much, but making over 100K is not very likely. The curve end at $99,999, but the trend is clear.
The income peak is around $20,000 goes down. The median income is approximately $40,000. So if someone promises you an 80K salary, that would mean you make 100% more than the 50th person in the US.
That is not easy to get, and for a job after college or if you switch to any entry-level activity not very likely.
Out of 266,257 people who responded, 235,916 reported an income, and 30,928 said they earn more than 100K. That is around 13%.
Do you want to aim for 100K per year?
First, think about how old you are. The following picture looks weird, but the provided data has 2 different times. The higher numbers are for 10 years, and smaller bars have 5 years.
-> Over the years, numbers go up until close to retirement and fall again.
So if you are 30 years old and you do not make 100K.... that's fine because most earn this later.
The income peak is around $20,000 goes down. The median income is approximately $40,000. So if someone promises you an 80K salary, that would mean you make 100% more than the 50th person in the US.
That is not easy to get, and for a job after college or if you switch to any entry-level activity not very likely.
Out of 266,257 people who responded, 235,916 reported an income, and 30,928 said they earn more than 100K. That is around 13%.
Do you want to aim for 100K per year?
First, think about how old you are. The following picture looks weird, but the provided data has 2 different times. The higher numbers are for 10 years, and smaller bars have 5 years.
-> Over the years, numbers go up until close to retirement and fall again.
So if you are 30 years old and you do not make 100K.... that's fine because most earn this later.
Howe much does a degree change your income:
source: https://www.uscensus.com
Conclusion
Think about how realistic these promises are if you hear salaries and numbers. Usually, these numbers are sales and have not much to do with your personal situation.
The picture above tells you to get a degree and earn more money. This is true, but the graphics do not tell you the price and the risk.
- 40 % who start will not finish, and if you get a degree, around 40% cannot use it.
- Getting a degree can be very affordable via online university or super expensive.
Constantly tailor numbers to your situation. A general number might be useless. Location matters, too. Each city is different. You need the number for your city and not for LA.
Conclusion
Think about how realistic these promises are if you hear salaries and numbers. Usually, these numbers are sales and have not much to do with your personal situation.
The picture above tells you to get a degree and earn more money. This is true, but the graphics do not tell you the price and the risk.
- 40 % who start will not finish, and if you get a degree, around 40% cannot use it.
- Getting a degree can be very affordable via online university or super expensive.
Constantly tailor numbers to your situation. A general number might be useless. Location matters, too. Each city is different. You need the number for your city and not for LA.
© 2021. This work is licensed under a CC BY-SA 4.0 license