I am planning on being a business major and am having to decide between debt in the $40,000-$70,000 range without a LRAP (loan repayment assistance program) or in the $70,000-$95,000 range with LRAP. For my LRAP program they pay a percentage of your loans if your income is up to $37,000 I have done the math, and I would have enough to live on. But if I end up making more than that I am basically getting into more debt for no reason. Supposedly, Business majors make a starting salary of $47,000-$57,000 a year; but I have a hard time believing that. Anyone have info on “real” business starting salary? Personal experience? If I go into less debt, but am not making very much, with no LRAP, I won’t have enough to live on; so it is a gamble. Opinion on which route to take?
First year out of b-school (2011) I made 38k, 2nd year about 40k, 3rd 50k, 4th year 65k.
A lot depends on how much actual work experience you have. If you don’t have any then plan on spending a couple years proving yourself in low level positions.
How much experience did you have when you graduated?