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$how Me The Money! A Real Conversation About Post- Baccalaureate Graduate Options.

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Presentation on theme: "$how Me The Money! A Real Conversation About Post- Baccalaureate Graduate Options."— Presentation transcript:

1 $how Me The Money! A Real Conversation About Post- Baccalaureate Graduate Options

2 WHAT ARE THE DIFFERENCES? Earnings In 2006 WHAT ARE THE DIFFERENCES? Earnings In 2006 High SchoolCollege Grad All Persons 25 to 34 $28,982$48,256 BSMAMD/JDPhD 25 to 34yo48k55k81k74k All Persons59k70k121k96k (U.S. Census Bureau 2007, Bureau of Labor Statistics 2007, NSCG 2000)

3 MajorBS Job Professional Ph.D. Chemistry/Biology 36k114k (MD)60k Economics 40k82k (MBA)76k Engineering 45k62k (MS)73k Sociology/Political Sc. 34k52k (JD)56k (U.S. Census Bureau 2006, Bureau of Labor Statistics 2006, NSCG 2000) What’s The “Starting” Income For People With Various Degrees?! Public/Govt ($40k) to Private Practice ($80k)

4 Let’s Not Forget Lifestyle Differences SMTWRFST Me (PhD) Duane (JD) Kelli (MD) JFMAMJJASONDT Me (PhD) Duane (JD) Kelli (MD) Weeks In The Office Each Year Hours In The Office Each Week JFMAMJJASONDT Me (PhD) Duane (JD) Kelli (MD)

5 MajorBS Job Professional Ph.D. Chemistry/Biology 36k114k (MD)60k Economics 40k82k (MBA)76k Engineering 45k62k (MS)73k Sociology/Political Sc. 34k52k (JD)56k What’s The “Starting” Income For People With Various Degrees?!

6 MajorBS Job Professional Ph.D. Chemistry/Biology 36k114k (MD)73k Economics 40k82k (MBA)93k Engineering 45k62k (MS)89k Sociology/Political Sc. 34k52k (JD)68k throw in summer salary...

7 What’s The “Starting” Income For People With Various Degrees?! MajorBS Job Professional Ph.D. Chemistry/Biology 36k114k (MD)76k Economics 40k82k (MBA)96k Engineering 45k62k (MS)92k Sociology/Political Sc. 34k52k (JD)71k throw in summer salary, and a $60 book...

8 What’s The “Starting” Income For People With Various Degrees?! MajorBS Job Professional Ph.D. Chemistry/Biology 36k114k (MD)80k Economics 40k82k (MBA)100k Engineering 45k62k (MS)97k Sociology/Political Sc. 34k52k (JD)74k throw in summer salary, and a $60 book, and consulting fees...

9 What’s The “Starting” Income For People With Various Degrees?! MajorBS Job Professional Ph.D. Chemistry/Biology 36k114k (MD)93k Economics 40k82k (MBA)116k Engineering 45k62k (MS)109k Sociology/Political Sc. 34k52k (JD)86k throw in summer salary, and a $60 book, and consulting fees, and a research grant...

10 throw in summer salary, and a $60 book, and consulting fees, and a research grant, and 2-3 invited talks. What’s The “Starting” Income For People With Various Degrees?! MajorBS Job Professional Ph.D. Chemistry/Biology 36k114k (MD)95k Economics 40k82k (MBA)117k Engineering 45k62k (MS)111k Sociology/Political Sc. 34k52k (JD)88k

11 MajorPhysician (MD)Asst. Prof (PhD) Biology114k92k What’s The Difference Between The M.D. and The Ph.D. “Starting” Income For Biology Majors?! 20 Years Education

12 MajorResident (MD)Asst. Prof (PhD) Biology44k92k What’s The Difference Between The M.D. and The Ph.D. “Starting” Income For Biology Majors?! Residencies last from 3-5 years after receipt of the degree. Year one is $44k and year five is $54k. 20 Years Education

13 Average Work Week hours hours % with no debt 13%42% Tuition Expenses $31-33kWaived Average Debt $130,571$36,917 Insurance Premiums $12k to 57k $0k MajorPhysician Y1Asst. Prof Y4 Biology154k*104k *Internal Medicine

14 Average Work Week hours hours % with no debt 13%42% Tuition Expenses $31-33kWaived Average Debt $130,571$36,917 Insurance Premiums $12k to 57k $0k MajorPhysician Y1Assoc. Prof Y5 Biology154k*130k *Internal Medicine

15 I make $ an hour in an semi-entrepreneurial job! I work 8 months a year with FOUR months of vacation including Fall Break, Thanksgiving Break, Winter Break, Spring Break, and Summer Break! I only have get to come to work 2-3 days a week and work “in the office” eight hours... a week! I get paid to find the answers to my own questions about the world AND to tell those answers to amazing students! My name shows up in Details Magazine, four newspapers, Amazon.com, Barnes&Noble.com, seven journals, 3 books, the university catalog, 18 syllabi at other schools, and 52 of the first 60 entries when you Google “Richard Pitt Sociology”! My name is actually in Wikipedia’s entries on the “downlow” and “bachelors” I make $ an hour in an semi-entrepreneurial job! I work 8 months a year with FOUR months of vacation including Fall Break, Thanksgiving Break, Winter Break, Spring Break, and Summer Break! I only have get to come to work 2-3 days a week and work “in the office” eight hours... a week! I get paid to find the answers to my own questions about the world AND to tell those answers to amazing students! My name shows up in Details Magazine, four newspapers, Amazon.com, Barnes&Noble.com, seven journals, 3 books, the university catalog, 18 syllabi at other schools, and 52 of the first 60 entries when you Google “Richard Pitt Sociology”! My name is actually in Wikipedia’s entries on the “downlow” and “bachelors” Why I Love Having A PhD!!


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