<p>Taxguy, in another post, stated "Someone mentioned that no student, regardless of undergraduate major, should incur more undergraduate debt in excess of their expected first year earnings. This might be a good yardstick." </p>
<p>Keeping this in mind does anyone know how much an aerospace/mechanical engineer, astronomer, physicst earn in a year? Any websites that would help me find out more about salary for specific professions?</p>
<p>Here is one:<a href="http://money.cnn.com/2005/04/15/pf/college/starting_salaries/%5B/url%5D">http://money.cnn.com/2005/04/15/pf/college/starting_salaries/</a>
heres another:<a href="http://money.cnn.com/2007/02/08/pf/college/lucrative_degrees_winter07/index.htm%5B/url%5D">http://money.cnn.com/2007/02/08/pf/college/lucrative_degrees_winter07/index.htm</a>
and another: <a href="http://www.hqeducation.com/jobs-careers/popular-jobs/college-degree-that-pays-the-highest-starting-salary.php%5B/url%5D">http://www.hqeducation.com/jobs-careers/popular-jobs/college-degree-that-pays-the-highest-starting-salary.php</a>
and physics <a href="http://www.aip.org/statistics/trends/emptrends.html%5B/url%5D">http://www.aip.org/statistics/trends/emptrends.html</a>
and this all inclusive site <a href="http://www.bls.gov/search/ooh.asp?ct=OOH%5B/url%5D">http://www.bls.gov/search/ooh.asp?ct=OOH</a></p>
<p>WOW! Thanks a lot sax.</p>
<p>Keep in mind that if you have loans equal to your salary you will be looking at monthly loan payments in excess of $500 per month.
<a href="http://www.finaid.org/calculators/loanpayments.phtml%5B/url%5D">http://www.finaid.org/calculators/loanpayments.phtml</a></p>
<p>Thanks for that rlm919. Would I be able to handle that or will it depened on where I live and etc. Also which jobs have the highest salary increase? For example, engineers starting salary is $53,000, astronomers make less but their avergae salary is around $70,000. How long will it be till my salary increases to $60,000, $70,000?</p>
<p>First off, you'd be incredibly lucky to get into a decent astronomy program, and then you'd be just as lucky getting that job. The PhD job market isn't exactly awesome right now.</p>
<p>I'm not discouraging you from doing what you want, but consider risk in any value analysis.</p>
<p>obviously it will depend on where you live - nice apts here in upstate go for $700 and up but in other areas of NY and the country you would be starting at $1000.
Will you need to buy a car? If you buy a new car, insurance will be higher. Do you need cable/internet (engineers probably will say yes.)
It sounds like million years from now but after a few years in an apt you may want to think about saving for and buying a house and a large student loan payment will definitely impact that as well.</p>
<p>Just weighing in here. My company hires some engineers. The pay is in the range discussed here. It sounds like a lot when you are still an undergrad but consider the loan payment in light of things like cable/internet, car, car insurance, health insurance (not all companies pay all of it), etc. Then consider that at a certain point out of undergraduate school you will want to look toward buying real estate, raising a family, etc.<br>
Even for someone who is going to earn $60-$70 thousand a year, IMHO paying off a debt of that amount is a lot to take on.</p>