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August 19, 2009 at 3:28 PM #447497August 19, 2009 at 3:36 PM #446723sdcellarParticipant
[quote=AN][quote=UCGal]
That said, my coworkers with less experience were also hit with frozen salaries (even if you get a promotion!), eliminated 401k match, bonuses at half of previous years. So the folks in the first 10 years of their career also saw a hit this year.[/quote]
I don’t disagree that even people in the first 10 years of their career got their salaries freezes. But this is one of the worse recession in a long while, so, that should be expected. However, everything seems to get cheaper too, so inflation didn’t really hit over the last year. There is a CNN article recently that state employers are starting to hire back people they lay off.[/quote]I certainly think houses are going to get cheaper. We’re finally starting to see eye-to-eye! πAugust 19, 2009 at 3:36 PM #446915sdcellarParticipant[quote=AN][quote=UCGal]
That said, my coworkers with less experience were also hit with frozen salaries (even if you get a promotion!), eliminated 401k match, bonuses at half of previous years. So the folks in the first 10 years of their career also saw a hit this year.[/quote]
I don’t disagree that even people in the first 10 years of their career got their salaries freezes. But this is one of the worse recession in a long while, so, that should be expected. However, everything seems to get cheaper too, so inflation didn’t really hit over the last year. There is a CNN article recently that state employers are starting to hire back people they lay off.[/quote]I certainly think houses are going to get cheaper. We’re finally starting to see eye-to-eye! πAugust 19, 2009 at 3:36 PM #447254sdcellarParticipant[quote=AN][quote=UCGal]
That said, my coworkers with less experience were also hit with frozen salaries (even if you get a promotion!), eliminated 401k match, bonuses at half of previous years. So the folks in the first 10 years of their career also saw a hit this year.[/quote]
I don’t disagree that even people in the first 10 years of their career got their salaries freezes. But this is one of the worse recession in a long while, so, that should be expected. However, everything seems to get cheaper too, so inflation didn’t really hit over the last year. There is a CNN article recently that state employers are starting to hire back people they lay off.[/quote]I certainly think houses are going to get cheaper. We’re finally starting to see eye-to-eye! πAugust 19, 2009 at 3:36 PM #447326sdcellarParticipant[quote=AN][quote=UCGal]
That said, my coworkers with less experience were also hit with frozen salaries (even if you get a promotion!), eliminated 401k match, bonuses at half of previous years. So the folks in the first 10 years of their career also saw a hit this year.[/quote]
I don’t disagree that even people in the first 10 years of their career got their salaries freezes. But this is one of the worse recession in a long while, so, that should be expected. However, everything seems to get cheaper too, so inflation didn’t really hit over the last year. There is a CNN article recently that state employers are starting to hire back people they lay off.[/quote]I certainly think houses are going to get cheaper. We’re finally starting to see eye-to-eye! πAugust 19, 2009 at 3:36 PM #447507sdcellarParticipant[quote=AN][quote=UCGal]
That said, my coworkers with less experience were also hit with frozen salaries (even if you get a promotion!), eliminated 401k match, bonuses at half of previous years. So the folks in the first 10 years of their career also saw a hit this year.[/quote]
I don’t disagree that even people in the first 10 years of their career got their salaries freezes. But this is one of the worse recession in a long while, so, that should be expected. However, everything seems to get cheaper too, so inflation didn’t really hit over the last year. There is a CNN article recently that state employers are starting to hire back people they lay off.[/quote]I certainly think houses are going to get cheaper. We’re finally starting to see eye-to-eye! πAugust 19, 2009 at 3:43 PM #446733anParticipant[quote=sdcellar]
[quote=AN]Regarding the class of 2000 comment, yes, it’s the former. Class of 2002 made about $45-50k fresh out of school. Now, those same people are making around $80-100k. The fresh grads now are making between $55k-65k, based on salary.com. So, if you’re comparing fresh grad vs fresh grad, the salary went up between 22%-30%.[/quote]Yes, so decidely less than 35%.[/quote]
Even taking 20% income inflation, median home price in SD in 2000 was $269,410 and in 2008, it was $305,000. So, median home price went up 13% between 2000-2008 while entry level engineer salary went up between 22%-30%. Well above 13%.If you think 2000-2008 # might be skewed, I know someone who graduated in 1988 as an engineer. He told me fresh grad back then made around 25-30k/yr. Median home price in 1988 was $153,410. So median home price went up 99% over 21 years. Salary for a fresh grad engineer went up between 115%-120%. So, over 21 years, median house price traced fresh grad engineer salary pretty well. I don’t know about other profession, so this might not apply so well.
August 19, 2009 at 3:43 PM #446925anParticipant[quote=sdcellar]
[quote=AN]Regarding the class of 2000 comment, yes, it’s the former. Class of 2002 made about $45-50k fresh out of school. Now, those same people are making around $80-100k. The fresh grads now are making between $55k-65k, based on salary.com. So, if you’re comparing fresh grad vs fresh grad, the salary went up between 22%-30%.[/quote]Yes, so decidely less than 35%.[/quote]
Even taking 20% income inflation, median home price in SD in 2000 was $269,410 and in 2008, it was $305,000. So, median home price went up 13% between 2000-2008 while entry level engineer salary went up between 22%-30%. Well above 13%.If you think 2000-2008 # might be skewed, I know someone who graduated in 1988 as an engineer. He told me fresh grad back then made around 25-30k/yr. Median home price in 1988 was $153,410. So median home price went up 99% over 21 years. Salary for a fresh grad engineer went up between 115%-120%. So, over 21 years, median house price traced fresh grad engineer salary pretty well. I don’t know about other profession, so this might not apply so well.
August 19, 2009 at 3:43 PM #447264anParticipant[quote=sdcellar]
[quote=AN]Regarding the class of 2000 comment, yes, it’s the former. Class of 2002 made about $45-50k fresh out of school. Now, those same people are making around $80-100k. The fresh grads now are making between $55k-65k, based on salary.com. So, if you’re comparing fresh grad vs fresh grad, the salary went up between 22%-30%.[/quote]Yes, so decidely less than 35%.[/quote]
Even taking 20% income inflation, median home price in SD in 2000 was $269,410 and in 2008, it was $305,000. So, median home price went up 13% between 2000-2008 while entry level engineer salary went up between 22%-30%. Well above 13%.If you think 2000-2008 # might be skewed, I know someone who graduated in 1988 as an engineer. He told me fresh grad back then made around 25-30k/yr. Median home price in 1988 was $153,410. So median home price went up 99% over 21 years. Salary for a fresh grad engineer went up between 115%-120%. So, over 21 years, median house price traced fresh grad engineer salary pretty well. I don’t know about other profession, so this might not apply so well.
August 19, 2009 at 3:43 PM #447336anParticipant[quote=sdcellar]
[quote=AN]Regarding the class of 2000 comment, yes, it’s the former. Class of 2002 made about $45-50k fresh out of school. Now, those same people are making around $80-100k. The fresh grads now are making between $55k-65k, based on salary.com. So, if you’re comparing fresh grad vs fresh grad, the salary went up between 22%-30%.[/quote]Yes, so decidely less than 35%.[/quote]
Even taking 20% income inflation, median home price in SD in 2000 was $269,410 and in 2008, it was $305,000. So, median home price went up 13% between 2000-2008 while entry level engineer salary went up between 22%-30%. Well above 13%.If you think 2000-2008 # might be skewed, I know someone who graduated in 1988 as an engineer. He told me fresh grad back then made around 25-30k/yr. Median home price in 1988 was $153,410. So median home price went up 99% over 21 years. Salary for a fresh grad engineer went up between 115%-120%. So, over 21 years, median house price traced fresh grad engineer salary pretty well. I don’t know about other profession, so this might not apply so well.
August 19, 2009 at 3:43 PM #447517anParticipant[quote=sdcellar]
[quote=AN]Regarding the class of 2000 comment, yes, it’s the former. Class of 2002 made about $45-50k fresh out of school. Now, those same people are making around $80-100k. The fresh grads now are making between $55k-65k, based on salary.com. So, if you’re comparing fresh grad vs fresh grad, the salary went up between 22%-30%.[/quote]Yes, so decidely less than 35%.[/quote]
Even taking 20% income inflation, median home price in SD in 2000 was $269,410 and in 2008, it was $305,000. So, median home price went up 13% between 2000-2008 while entry level engineer salary went up between 22%-30%. Well above 13%.If you think 2000-2008 # might be skewed, I know someone who graduated in 1988 as an engineer. He told me fresh grad back then made around 25-30k/yr. Median home price in 1988 was $153,410. So median home price went up 99% over 21 years. Salary for a fresh grad engineer went up between 115%-120%. So, over 21 years, median house price traced fresh grad engineer salary pretty well. I don’t know about other profession, so this might not apply so well.
August 19, 2009 at 3:55 PM #446738anParticipant[quote=sdcellar]I certainly think houses are going to get cheaper. We’re finally starting to see eye-to-eye! ;)[/quote]
One big caveat is, I only believe this is true for some areas. Places that have been hit 50-60% off peak, I think would be hard press to drop much more if at all. This has always been my view btw. We always saw eye to eye, but I’m glad you finally think so.August 19, 2009 at 3:55 PM #446930anParticipant[quote=sdcellar]I certainly think houses are going to get cheaper. We’re finally starting to see eye-to-eye! ;)[/quote]
One big caveat is, I only believe this is true for some areas. Places that have been hit 50-60% off peak, I think would be hard press to drop much more if at all. This has always been my view btw. We always saw eye to eye, but I’m glad you finally think so.August 19, 2009 at 3:55 PM #447269anParticipant[quote=sdcellar]I certainly think houses are going to get cheaper. We’re finally starting to see eye-to-eye! ;)[/quote]
One big caveat is, I only believe this is true for some areas. Places that have been hit 50-60% off peak, I think would be hard press to drop much more if at all. This has always been my view btw. We always saw eye to eye, but I’m glad you finally think so.August 19, 2009 at 3:55 PM #447341anParticipant[quote=sdcellar]I certainly think houses are going to get cheaper. We’re finally starting to see eye-to-eye! ;)[/quote]
One big caveat is, I only believe this is true for some areas. Places that have been hit 50-60% off peak, I think would be hard press to drop much more if at all. This has always been my view btw. We always saw eye to eye, but I’m glad you finally think so. -
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