So like many Americans, I'm in my mid 20s, I have a four year degree, and I have a shit job making minimum wage. Never had a raise in nearly three years, while getting to experience the joys of painful, filthy, and physically demanding manual labor, combined with depression-inducing and anxiety ridden horrible customer service. Naturally, I'm looking for another job, but I haven't had any luck whatsoever, either getting another minimum wage job or something worthy of utilizing my expensive education (I majored in business). I should be grateful for my awful employer.
Lately, I've been doing the math and the more I think about it, the more I realize that I would have been much better off financially and socially had I dropped out of high school at age 16. This was long before the recession and I could have easily gotten my GED and a fast food or grocery bagger position. Assuming I got an average 30 hours a week (not unreasonable) and made my state minimum wage (currently $8.25/hour, one of the highest in the country, went up from around $7.25 over the past eight years, so let's say for sake of argument around $7.75 overall), I would have made a lot more money than I have now. Also, keep in mind that I had a lot fewer expenses because my parents were helping me with car payments/insurance and I was under their health insurance coverage. And people making minimum get decent tax breaks.
7.75 x 30 hours = 232.5 a week x 4 weeks = 930 a month x 12 = $11,160 / year x 8 years = $89,280
For the sake of comparison, my current net worth is about negative ten grand (a relatively cheap college education, due to scholarships and mommy/daddy). That figure above assumes that I would have saved everything, but is also assuming that it was impossible for me to ever get a raise or get promoted with another employer. Had I had that much work experience, as opposed to going to school full time (didn't have my crap job until I was 21), I probably would have been able to move up in some capacity. Hell, my last boss didn't even have a GED when he was promoted above me.
Maybe I'm just depressed and whining, but I really feel like I would have been better off. Some guys I went to high school with and started working immediately after graduating managed to get manual labor jobs that are relatively high paying and managed to keep them through the recession. For example, one job I found for working on the railroad lines (a facebook friend does this) pays about $19 / hour, not counting overtime. My fancy degree can't even get me hired at Best Buy. I know I begged and pleaded with my parents to let me out of school, but they wouldn't hear of it. Said I was "too intelligent" to have to work at a job where I break my back all day. Well, look where I'm at now. As you can see from my sloppy and half assed equation above, I clearly didn't gain much from my business courses. On top of that, more and more people are going BACK to school thinking that will make them more employable, making all of our degrees worth less and less in the job market. FML
Lately, I've been doing the math and the more I think about it, the more I realize that I would have been much better off financially and socially had I dropped out of high school at age 16. This was long before the recession and I could have easily gotten my GED and a fast food or grocery bagger position. Assuming I got an average 30 hours a week (not unreasonable) and made my state minimum wage (currently $8.25/hour, one of the highest in the country, went up from around $7.25 over the past eight years, so let's say for sake of argument around $7.75 overall), I would have made a lot more money than I have now. Also, keep in mind that I had a lot fewer expenses because my parents were helping me with car payments/insurance and I was under their health insurance coverage. And people making minimum get decent tax breaks.
7.75 x 30 hours = 232.5 a week x 4 weeks = 930 a month x 12 = $11,160 / year x 8 years = $89,280
For the sake of comparison, my current net worth is about negative ten grand (a relatively cheap college education, due to scholarships and mommy/daddy). That figure above assumes that I would have saved everything, but is also assuming that it was impossible for me to ever get a raise or get promoted with another employer. Had I had that much work experience, as opposed to going to school full time (didn't have my crap job until I was 21), I probably would have been able to move up in some capacity. Hell, my last boss didn't even have a GED when he was promoted above me.
Maybe I'm just depressed and whining, but I really feel like I would have been better off. Some guys I went to high school with and started working immediately after graduating managed to get manual labor jobs that are relatively high paying and managed to keep them through the recession. For example, one job I found for working on the railroad lines (a facebook friend does this) pays about $19 / hour, not counting overtime. My fancy degree can't even get me hired at Best Buy. I know I begged and pleaded with my parents to let me out of school, but they wouldn't hear of it. Said I was "too intelligent" to have to work at a job where I break my back all day. Well, look where I'm at now. As you can see from my sloppy and half assed equation above, I clearly didn't gain much from my business courses. On top of that, more and more people are going BACK to school thinking that will make them more employable, making all of our degrees worth less and less in the job market. FML