My Current Salary & Career Path?

Question

Okay, I just turned 24 years old last month, and I'm at the point in my life that I want to make sure that everything I've planned on career wise is going as it should be.

I got my bachelor's degree in Business Management at a university (i'm actually 6 classes from an accounting degree now as well but probably won't go back for it), and I've been working at UPS for a little over 5 years now.

I've moved up, and right now I'm making $20.00 an hour, so, maybe a little bit over $40,000.00 a year. I'm enrolled into my 401k plan, and my plan is to work on becoming full-time management in about 2 more years. I just got into this department 5 months ago, and its supposed to have a 3 year committment.

Where do I stand on the average in my salary for my age? Should I continue to aspire for higher education and get my MBA? Or just concentrate on moving up the corporate ladder?

I grew up poor, and I mean, trailer trash poor. And now I just want to be successful and career minded.

I work in Louisville, KY. I'm currently a crew scheduler for UPS. Previously, I was a part-time supervisor there. I went to UofL, and my next step, is full-time supervisor. Most likely in the contingency department, crew scheduling department, crew planning, or similar department. Or I could possibly be a full-time sup out int he operations, since I've got a lot of operations experience with UPS.

Answer 1

You're on the right track. Keep doing what you're doing. The most important thing is not what you make now, but what you can make in the future. For a 24 year old making $40k, you're doing pretty good. What is important right now is not how much you're making, but how much you're saving. That's what will matter later on. Make sure that you're contributing as much as you can to your 401k, especially if your company matches. You should put in as much as they will match because that's a 100% return, which is better than anything you'll find in any other kind of investment.

Money magazine had an article in their January issue about where you stack up. You can enter your age and your income and they'll show you what the average net worth is by both age, and income. For your age, median net worth is about $400, so if you've got more than that in savings and 401k, you're ahead of the game. For your income level (I assumed $42k), median net worth is $20k, but most of those people are probably older and have been saving longer. You can also take a look at what you need to do to hit certain goals, like pay for your kids college or become a millionaire. You can see more at the link below.

Keep working hard, set goals, and then do what you need to do to get there. I think you're on the right track just by virtue of the fact that you asked this question. Well done.

Answer 2

True success is not based on your financial wealth or hourly wage. Do you love what you are doing? I think being paid to do what you love to do is a good sign of success. If you are not doing what you want, you best be paid enough to not have to do it too long.
Even so, at my age, where I live, $20 per hour is a very respectable wage. To make that much, at your age, in Kentucky (lower cost of living there!) is excellent. And... UPS is a very good company to work for in the long haul. You should consider how happy you are and what you gain, by NOT improving/progressing personally. You probably are best off working your hardest/smartest and planning for a bigger future, no matter how you hope things turn out. Don't limit your view to what you can see, but what you can aspire to. Good things come to the patient and the committed.
Note: BTW I have raised 5 kids on a much lower wage in an area with a much higher cost of living.

Answer 3

Congratulations on your success so far in life your on the right track. It sounds like you beat the odds and didn't get into drugs and all the other stuff that happens to people without allot of opportunities, you doing well. But YOU CAN'T STOP NOW YOUR SHOOTING LIKE A ROCKET!!!!! I would go ahead and get the six classes under your belt for the accounting degree. Continue on and get your MBA, as a bachelor's is nothing to be dismissed it has almost become standard to even get considered for a executive position. Continue to work at UPS your 24 it's a great job for you right now. Sounds like you like it enough to continue, but don't rock the financial boat. Stay at your job continue to go to school and make yourself stand out of the crowd. You will move up the corporate ladder, maybe not at UPS but somewhere. So let's say now your 30, you have worked at UPS for 10years with a great letter of recommendation, You now have your MBA and a degree in accounting, your in shape because of all the lifting and moving things at UPS. Please anyone would be a fool not to either move you into management at UPS or some other direction your life takes you. Be proud of your accomplishments so far, your doing great just don't stop now your young and you can do it. YOUR A WINNER!!!!!

Answer 4

Sounds like you have a good start in your life so far, if you are studying business then you should know that one way to make a good income in life is to have a residual income that you get paid on every month which is why you should join my team in the Digital Phone Service Industry, Why not go into business for yourself but not by yourself, Check out my web site below and just click on the opportunity link and see the videos for yourself. We also have live web presentations every Sun..Tues..Wed and Thursdays at 9PM eastern time so you can learn more about us. Call or email me...You got questions we have answers

Answer 5

How much would be earning if you finish those six accounting classes and pass the CPA exam? My CPA of 30 years charges me more than my attorney per hour.
Ask UPS how much you would be making and what you would be doing if you had CPA after your name. You are so close.
MBA or CPA??? Compare the effort needed and the results.

Answer 6

If you're that close to getting the accounting degree and the company will pay for it, do it - it won't hurt.

Unfortunately you left out important details such as your job title and location.

Answer 7

I didn't read your question. it was to long. Sorry