Average Ivy League Grad Is POOR?!
Ignore the clickbait ass title. Very interesting insights here.
There is a thread for the average median salary for a LSE grad is 55k, so it got me thinking how it compares to America's top schools. PayScale tracks the median salary for alumni in their early and mid careers.
https://www.payscale.com/college-salary-report/ba…
The median mid-career pay for a Harvard grad is $169k WTF?!?!? What kind of shitty jobs does the median Harvard grad take? I thought the majority go into IB, tech, or some other exclusive job making AT LEAST $250k a year. What a waste of tuition money and prestige! This is THE MEDIAN HARVARD GRAD.... 50% OF THE CLASS!!!! What the hell are they doing? They are better off going to ASU and joining corp fin at a F500, and still make more than $169k by your mid career.
Thoughts?
Sounds about right to me. The average Harvard kid comes from a well off background. If you grew up well off, your parents are more likely to push you to follow your passions and major what you’re interested in and change the world rather than push you to be a banker, lawyer, doctor, or work in tech. It’s pretty easy to follow your passion if you know down the road your parents will take care of you and pay your rent, buy you a Range Rover, and pay for you to come on family vacations, and get an allowance too. I also wouldn’t call $169k poor
Really? That money isn't going to last if these kids keep getting jobs that even state school grads get.
Edit: Whats up with the monkey shits. I'm not fucking wrong.
“Even state school grads get” damn bro not all state school grads are stupid or something
Mate, the only difference between me (the top state school grad) and my friends who went to Ivies was that they had rich parents who prepped them for their SATs since 5th grade, and their parents got them expensive college counselors who made them do more advanced side projects and ECs. Lots of people score well in high school, it's all about how much you know about elite school admissions (like what they look for).
This is bullshit. When you come from privileged backgrounds MORE is expected of you. That kind of pressure crumbles many privileged kids.
Many multimillionaires I know have their kids in psychiatric clinics. It's insane.
169k roughly puts them in the top 10% of earners. As a graduate! They are clearly not poor.
Yes, but these are the top 0.01% of high schoolers...
What's your point?
Its $169k median mid career pay. Not straight out of school...
There are several reasons behind this
making 169k + assuming you have a wife/husband making income can be pretty comfortable if you aren't in a HCOL city (which there are many).
also in terms of children of rich parents i would assume their parents have forms of passive income like real estate that they pass down and im not sure if they 169k will account for that
Please look up median & mean household income in America + poverty levels. I am a pure red blooded capitalist but this is just an absurd post. That's great money by most standards.
Assuming you’re either in college or an analyst. You’re completely overestimating how much people make. Do you think people in medicine voluntarily spend decades in school and residency to make $300k to $1m when everyone can just be a CEO, HF manager, PE partner, IB MD or even a consulting partner making $1m to $10m+ a year? Hardly anyone gets there. Most people burn out over a few years.
Many women, including Ivy grads, choose to either work part-time or cease work entirely at "mid-career" if they have a family. Many decide not to reenter the work force later.
Not for Ivy grads specifically, but the average primary care physician makes $260k, the average developer makes $110k, the average lawyer makes $125k, the average professor makes $80k, the average engineer makes $95k.
In any of these professions it’s going to be hard to break out from the median wage, because these are non-revenue-driving jobs and you can be pretty easily replaced by someone else at a lower cost. You have to do something different, not just be a grad from a good school. If you’re a doctor you have to be a specialist or own a practice. If you’re a lawyer you have to be in Big Law or own a practice. If you’re a developer you have to be at one of a handful of firms or a startup the has success. None of those things are the median outcome. It’s really rare for someone to make +$500k per year consistently.
What is the Harvard-adjusted salary for the: average primary care physician; average developer; average lawyer; average professor; and average engineer?
My buddy from my frat at Cornell is from a 10–20-billion-dollar European family that you will not find any information about on the internet because its insanely old money and it is all private.
He works part time as a bouncer (6'5, 230 all muscle) because it is fun while also supplementing his meager income (30k a year) working for a food bank in NYC. He anonymously donates his entire salary back to said food bank.
He is the sweetest kid I know and is incredibly quiet and reserved. One time when we were out, some girls started making fun of him for working at a foodbank in WV and he took it in stride. If only they knew.
He lives in a penthouse his parents own in the UWS and has gotten access to 100MM of his inheritance when he graduated college and will get another 100MM when he is 25, 30, and 45. This is separate from the actual inheritance he will get once his parents pass.
This 👆One of my college classmates is born into a 50 Bn worth family. They have a family office that manages multi-national trust funds and they deposit millions of cash into her accounts every single month. She works as a cook in a restaurant and make 60k.
lol exactly. This does not even only apply to the billionaires.
The kids whose parents have mid eight figure net worths (40MM+) all pretty much do the same thing/work chill corporate jobs in marketing, HR, corp fin etc. for F500s and get their rent paid by their trust fund/parents.
AD?
No way average lse grad salary is 55k btw. It'll be a lot less
It was 55k for grads from the Maths department
Simple reason why. Lot of other posters have mentioned some good reasons but the main one ultimately comes down to the fact that so many of these kids pursue completely useless majors with no hard skills (European literature, gender studies, etc). If you have interest in these topics, do it in your free time -- not as a major that you spend $100+k taking debt out on to do. Or minor in it while majoring in something with a practical skillset. I love history but I didn't major in it -- I just read about it in my free time
You have so many kids thinking all they needed was the college degree but that the major didn't matter or who put virtually no thought into their post-grad futures. I would refuse to pay for the college if I had a kid who wasn't majoring in STEM + B. Just makes no sense relative to the cost of going to college (which is skyrocketing and will continue to do so in future).
I know multiple 'liberal arts' majors who are literally working as baristas or some corporate job with the pay ceiling at 80k in a decade (40k today). People are finally, slowly waking up to this fact as fewer people believe in college than before (unless they are doing STEM + B) and as tech companies are now structurally (in my view) cutting out bloat as every CEO is thinking about how to unleash their inner Elon -- as most of them could have much higher profitability vs what they have today
STEM + B = STEM + business?
Yup
Lots of people in those useless major have alternative ways of making money. Such as leveraging classroom connections and marrying rich families ( Kate as the perfect example, and many other successful examples ), or social media influencer ( that Harvard girl on YouTube ), or doing nonprofit and building up political capital. Or simply getting a degree and inherit family business. Lots of hidden gems in the classrooms of useless majors.
But I do agree with you that many people get themselves trapped in the hype of these majors. They ain't born into rich family, ain't attractive enough to marry up, ain't even talented for the artsy stuff, but somehow pursue artsy major because it’s all hyped up and all the cool kids are doing it … l personally know someone who fell for the trap, the guy was really good at math in high school but somehow decided to pursue visual art major in LAC on STUDENT LOAN, and now he's jobless and can't afford his rent. If he had chosen math, he'd probably be in Jane street by now … sighhhh.
Agreed there’s certainly a lot of raw talent / hidden gems in folks with useless majors, but to your point of the would-be JS kid, if they’d just pursued a practical major they wouldn’t be hidden haha
I’m not questioning the raw intellectual capacity of these kids here to clarify. Just sad to see this kind of outcome all around man
This whole post reeks of entertainment. While that certainly isn’t a phenomenal salary it’s pretty solid and respectable. Working finance may have gotten your calibration off.
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