retirement benefits
Yeah because it is better to get a College Degree and then get to work a Salary Job were you get to work unpaid OT?
Do those jobs normally give you insurance and retirement benefits?
Meh, he has to work 72 hours a week to get that much. No thanks
24 yr old earns 140k/yr welding
millennials hate him!
I worked 12.5 hours a day for the last 4 weeks (except Christmas day) working on a emergency outage, my overtime on my checks for that time frame was just a little over $8,700. Not a bad way to finish out last year/start out this year. I used to work like this quite often when I was a field service rep and had several $150k + years (2007 - $183K) thankfully it only once ever 2 or so years now as it sure wears one in their mid 50's down in a couple of weeks.
Yeah because it is better to get a College Degree and then get to work a Salary Job were you get to work unpaid OT?
I worked 12.5 hours a day for the last 4 weeks (except Christmas day) working on a emergency outage, my overtime on my checks for that time frame was just a little over $8,700. Not a bad way to finish out last year/start out this year. I used to work like this quite often when I was a field service rep and had several $150k + years (2007 - $183K) thankfully it only once ever 2 or so years now as it sure wears one in their mid 50's down in a couple of weeks.
depends on the company. small local shops no. but you get on with someone big like Halliburton for example, yes.
He works 72 hours a week. So, he basically has two $70k per year jobs, without the double benefits. And he spends 72 hours a week in that wonderfully mind-challenging job of welding.
Seems like one of those stories that will be repeated endlessly on the typical news outlets and in five years the country will have twice as many welders as it needs, and wages will plummet.
That's why some companies don't mind giving out a huge amount of overtime. If they have very good benefits (it doesn't say, but let's say he's in a union with a Cadillac plan), he could be a real bargain. I know at my job I am cheaper on overtime than I am on regular time.
Must be nice. Been exempt for 20 years. I get screwed when I have to support an at sea op. All I get is 16 hour a day at straight time. Also, no hazard pay.
All in all, I still make big change with no magic paper to hang on my wall.
It isn't so bad working OT when 1) you get paid to do so 2) it isn't excessive to the point of burning you out. Working a 70 hour week on occasion and getting paid for the OT is one thing, working 70 hours on average EVERY week is another, regardless of whether or not you get paid.
If he was a smart guy he's be saving every cent he could and investing it, 401k, IRA, whatever. Every single friggin dime he can. Figure he can do this until he's 30, at which point he could have reasonably put aside a quarter of a million dollars. He then cuts back his hours and lives on what he earns, but he would (or should be) debt free. He can live a decent life. In the meantime let's assume he gets an average of 9% and and doesn't add a dime to his retirement.
Assuming his employer doesn't match at all and he doesn't contribute one additional cent, and even disallowing interest on the 6 years of contribution while working that time, he would have about 3.4 million at age 60. That's a cushy retirement for contributing 6 years of work.
No, it is better getting a job where you can normally work 40 hours and when you do have to work the rare OT or a crisis comes up, you get paid. Next question?