<p>Your S/D has landed their first job upon graduation. Do you expect they will tell you starting salary and terms of employment OR is it time for independence and none of your business?</p>
<p>It’s completely up to them if they choose to share that information with me. There are no expectations on my end. With that said, my sons have chosen to share their offer letters with me to review (as I’m an attorney).</p>
<p>No,we didn’t expect S1 to tell us any of the financial particulars about his job. He is an adult and it’s his business. He has told us most of it unsolicited though. He graduated fr. college debt free so was not saddled with any debt. We knew that his job would pay a good salary, enough to take care of himself. That’s all we really needed to know.</p>
<p>Yes, because we helped our son negotiate his first salary, which I think most new grads don’t know how to do. He raised his salary and benefits quite a bit, which they say will effect future earnings.</p>
<p>I don’t expect it but our oldest is through college and working and he did share that information with us when he asked us to help him look through benefit offers, picking insurance, etc. I would suspect the rest of our children would do the same, but maybe not.</p>
<p>I do her taxes so I end up knowing.</p>
<p>How else are we going to calculate their EFC? :)</p>
<p>Yes, why not? We are their parents and there are no secrets. I wouldn’t expect it later in life but I did with the first job. Also two of them came back to live at home right after graduation and I think it would have been odd to see sons working long hours and not having any clue how they were being compensated.</p>
<p>Yes. D1 called me as soon as she got her bonus and raise this year. Her bank acct is still tied to ours, so I see how much money she has in her acct.</p>
<p>I would expect my D to tell us, not because it’s necessarily my business but because it’s not something we’ve ever been secretive about in our house and she wouldn’t consider it a big deal to let us know. I can’t imagine she would view letting us know her salary/job conditions to be giving up any independence. I told my parents what I was making when I got my first job after school, and while I didn’t let them know every time I got a raise, if they asked I didn’t hesitate to tell them what I was making. I doubt I’d ever ask my kids what their salary was for anything other than that first job (the all-important jobs that gets them off the dole of mom and dad!)</p>
<p>Son sent me the booklets for benefits choices. I kind of hinted that I didn’t want to look through them. Choosing healthcare plans has always been a pain in the neck - I usually just choose the cheapest for us as I’m too lazy to do all of the comparisons.</p>
<p>The other approach around the office is to ask everyone else what they chose - then you find out that most people put it off until the last minute. You can tell that because the HR systems are all bogged down.</p>
<p>BTW, this thread is about a good problem to have.</p>
<p>The question is surprising to me. Never occurred to me that my kids wouldn’t tell me what their starting salary is. As I expect to be funding a significant portion of their college costs, I would expect that they would be excited to share with me the news regarding their 1st job.</p>
<p>It’s none of my business unless they want it to be.</p>
<p>One of my kids finished a master’s degree last spring at the same time that the other finished a bachelor’s degree. Both started full-time jobs within two weeks of each other. </p>
<p>One told me the salary; the other didn’t. </p>
<p>This is perfectly fine.</p>
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<p>Good one, turbo!</p>
<p>I wouldn’t ask them, but they always tell me anyway. Like others said, I’m their tax advisor/financial planner so it would be apparent soon enough. At what point does one make them consult other advisors or figure it out for themselves? Above entry-level, at a certain age, or just when you’re tired of doing it?</p>
<p>A lot of US born people will probably stone me for saying this, but the likely college plan for both DD’s is 10 years, each. So, it’s safe to say I’ll be in CC for a decade and a half… As such, and considering a lot of it is non-financial aid type expenses (somebody chance me for American University Cairo :)), and we’re not made of money, some EFC would be expected…</p>
<p>To answer the original question, yea, I would expect them to tell me, only because they don’t know any of the rules of ‘what to do with said fortune’… I’ve seen way too many new hires spend half their annual income on a car, or on other luxuries, or even worse, save it all up and live like Foxconn employees for 20 years… I’m not saying our generation did it right, but we have the experience and can at least tell if we did it wrong or not.</p>
<p>Classic example of ‘questionable money management’… Compatriot of mine worked for Intel for 25 years. Bought two cars in 25 years, stayed in the same rental one bedroom for 15 and another for 10, worked like said Foxconn employee then retired back to the old country at age 50. Not a bad deal, but to me, that’s 25 wasted years if the only thing you got out of living in the US for 25 years was a fat checking account. There’s a happy medium somewhere that my friend never considered, let alone enjoyed.</p>
<p>I have a general idea of what my d makes (not enough!), but I don’t need to know exactly, any more than I need to know exactly what she spends it on. I do need to know how much she needs me to help her out with, however. (She is in an arts profession, so success won’t come until later, if at all.) And I expect that to fluctuate as her earning and spending increase.</p>
<p>Negotiating the first package is something kids need a trusted, experienced adult to help with.</p>
<p>Did all of you parents tell your parents what you made?</p>
<p>I don’t know if my parents know what I make. It’s not a secret but not discussed. I couldn’t imagine being expected to tell my parents anything now that I’m an independent adult. It’s my choice whether or not I want to make it their business. Do they know what I make? Probably. Do they care? Not one bit. </p>
<p>On what possible grounds should you expect your child to tell you about their money situation unless they’re still mooching off you?</p>
<p>I’m going to start another thread very soon re: helping to negotiate that first pay package…</p>
<p>…until I read this thread, I didn’t even know that was a possibility in this economic climate…will be curious to hear stories…</p>
<p>Hopefully, I will have a chance to suggest some of the ideas…if you know what I mean…</p>