Six figure salary right out of undergrad

In fields like tech, it is the BS hiring that is the main hiring. MBA hiring is in much smaller numbers, and I am unsure if it is core. Also, in some parts of finance, undergrads stay much longer – e.g. on the public side of a bank on the dealer desk for instance. There is no up or out here.

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It’s probably paywalled, but there’s an article in the NYT today about the slowdown in tech hiring. It comports with what I’m hearing. https://www.nytimes.com/2022/12/06/technology/computer-students-tech-jobs-layoffs.html?smid=nytcore-ios-share&referringSource=articleShare

This article was published a few days ago and it was the topic of another thread:

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You must be another of the last of the home delivery subscribers! I noticed the article yesterday and wondered why it appeared in print days after I read about it here.

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Sundays only now. :smiley:

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Please get back to the topic. Thank you.

Don’t forget about cash bonuses paid on revenue generation and performance metrics. S has a job that has a decent salary (not 6 figures but good enough) but gets a quarterly revenue bonus based on his actual job (sales oriented) and annual bonus based on firm / department/ individual performance. These can be quite lucrative jobs and are not IB, Consulting, SWE, etc. Has great WLB and makes really good money for a 23 yr old. Lots of jobs in financial services, tech, consumer goods, pharma that work like this.

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Deleted. I see the link has been posted above.

Ah yes - the old “your compensation stool has three legs” speech!

I just read the OP to this thread…again. I’d like to state the obvious. There are a handful of professions where one can possibly get a six figure salary after completing an undergrad degree. I don’t have numbers, but I’m betting someone does. But if I were guessing, I’d say the vast majority of grads are not starting work in these fields (IBanking, CS, some engineering fields, etc).

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Agreed. CC is a very skewed group, not at all reflective of the general pop. I’d guess a majority or near-majority of CC students are aiming for finance, consulting, engineering, and CS.

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Lots of pre-meds also, but they are not generally getting “six figure salary right out of undergrad” – most are biology majors, so the ones who fail to get into any medical school are unlikely to get those six figure salaries, while most of those who do go to medical school will be piling on medical school debt before getting to their six figure salaries 7+ years (medical school + residency) after undergrad.

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There are a few types of professions that can get a 6 figure salary out of college. BUT…they’re skewed toward east/west coast schools with a highly inflated cost of living. If you deflate it to a baseline, the salary becomes strikingly similar. Also, the big 6 figure “out of college” salaries we’ve all been hearing about for CS and tech jobs have dried up. If I’m in the red and I have 2 competent programmers, one paid $120,000, and the other $85,000, and I could only keep one, the layoff decision would be a no-brainer.

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Many tech workers find jobs after layoffs within 3 months or less without reduction in pay.

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Salary is a very skewed thing, because it’s directly related to the place you live in. If I got laid off in Seattle at $150k a year, I could get a job in Texas for 90k and actually be making more money because of buying power.

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Actually they need to make $133,000 in Texas to be comparable to $150,000 in Seattle

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I don’t remember if anyone on this thread actually came up with or estimated a percentage of all four-year college graduates who had a six figure salary out of undergrad, but it seems like it’s pretty small and relates to a very small set of industries. However, not all the salaries are directly related to where you live. My S will be working in consulting when he graduates this year and his salary would be the same whether he ended up in the NYC office, San Fran or the southeast. I don’t know if most consulting companies work that way, but it seems that MBB companies do, at least for starting salaries out of undergrad.

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Of course, @seal16 's “thesis” is about tech workers finding jobs after being laid off, in a tight labor market w/o a reduction in pay, not comparing salaries of various cities. :wink:

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Same is true in IB…same starting salary across a number of firms and their offices, so Charlotte incoming analysts get same pay package as NYC to take one example.

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