Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. ![]() It's hard to imagine there's much money left after all that. Then there's rent, utilities, cell phone bills, groceries and - for 71% of those that graduated in 2012 - a student loan bill. (That's about $1,896 a month.) It will be even smaller if there are deductions made for health insurance. If you live in California, your weekly paycheck will be about $474 a week after taxes. Data shows that their pay will jump to $55,000 by mid-career, but that's still a lot less than engineering majors who can expect to start making $55,000 and jump to $80,000 later on.Ī $32,200 salary may not stretch as far as one might think. The median salary for English majors is $32,200 in the early stages of their career, according to the New York Fed. And while income for recent grads has risen to $43,000 in 2015, up from about $40,000 in the prior year, not all degrees will earn you the same paycheck. Talia Jane said she majored in English Literature. One in five said they get help paying down students loans. In one recent survey from Bank of America, 40% of Millennials said they receive financial help from their parents. Sometimes they have to move back in with Mom and Dad for a while. But the fact is, a lot of recent college grads have a tough time making ends meet without a little help. We can't keep telling ppl anybody can do it, because it's just not true.- Marco Rogers February 23, 2016Īmericans don't like to see when hard work fails to lead to success. This story is why the American bootstrap ethos is so toxic today.
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