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Knyteguy posted:You guys realize this isn't some impossible thing right? I make the equivalent of six figures in the bay area and I'm a self taught developer (web, software, etc). Salaries don't scale directly with cost of living. That's why this thread has the "big cities are bad with money" derail every so often.
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Mar 12, 2015 15:55
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Powerlurker posted:My wife's company offers an ESPP, but it takes something like four years to vest, so you can't do the buy and immediately sell trick. My ESPP was zero-risk because it had an amazing lookback window clause - when your stock vests after every six months, your shares were purchased at the lower price, either the beginning of the six months or the end. If you sell immediately, your gains are taxed as wages, but it was guaranteed money. Of loving course they ended that poo poo right when management decided goosing the stock price was more important than running the company. AgrippaNothing posted:The people I deal with in oil are by and large repugnant with angry personalities. Can't say I disagree about that part. Living in Denver these days, there's a lot of oil and gas people that quickly swung from angry indignant success to angry indignant failure after being fired. Radbot fucked around with this message at 16:07 on Mar 12, 2015 |
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Mar 12, 2015 16:04
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Omne posted:My company offers an ESPP, but it is horrific. You tell them what % of your salary you would like to spend on stock, they put the order in once a month, and the company pays the transaction fees. That's it. No discount, no lower-of-current-price-or-previous-price selection. I don't participate for that reason. Do you work for the same large company as me, that rhymes with T Rex?
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Mar 12, 2015 16:35
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SPPs are good with money, assuming your company gives you a discount and you can sell immediately. It's the closest thing to literal free money you can get.
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Mar 12, 2015 16:51
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My friend is trading in his old truck (purchased last year, worth 10k) for a new $25k truck because "it seems like a lot of truck for the money". He has $50k in student loans and also eight other trucks that run perfectly fine (but aren't new) and works for like $10 an hour at a NAPA auto Parts shop. Gotta build that truck equity I guess. ranbo das fucked around with this message at 17:11 on Mar 12, 2015 |
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Mar 12, 2015 17:07
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ranbo das posted:also eight other trucks At least he's diversified.
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Mar 12, 2015 17:36
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I don't understand. Why would you need 8 trucks? Does he have a moving business or something?
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Mar 12, 2015 17:37
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ChipNDip posted:Salaries don't scale directly with cost of living. That's why this thread has the "big cities are bad with money" derail every so often. they would only have to if your cost of living is your entire salary
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Mar 12, 2015 17:46
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Henrik Zetterberg posted:SPPs are good with money, assuming your company gives you a discount and you can sell immediately. It's the closest thing to literal free money you can get. ESPPs are a way for employers to make part of your salary easy to cut without explicitly saying "we are cutting your salary" because most people think of it as free money rather than part of their total compensation package.
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Mar 12, 2015 17:55
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pig slut lisa posted:
There was a dude I knew who retired from the air force with literally no money. When he got to our base it was so drat weird. He actually ran out of gas driving to work and had to be picked up by one of our E-4's. His wife pretty much spent all his money, and in his last years, he ended up getting a divorce, so now he'll have child support for quite some time off his retirement, and I also believe alimony. Last I heard he moved back to Maine and is living with his parents.
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Mar 12, 2015 18:21
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TLG James posted:There was a dude I knew who retired from the air force with literally no money. When he got to our base it was so drat weird. He actually ran out of gas driving to work and had to be picked up by one of our E-4's. His wife pretty much spent all his money, and in his last years, he ended up getting a divorce, so now he'll have child support for quite some time off his retirement, and I also believe alimony. Last I heard he moved back to Maine and is living with his parents. And if he didn't play his divorce cards right, ex-wife is getting a piece of his pension too.
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Mar 12, 2015 18:40
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JohnGalt posted:He a company man, meaning he is in charge of a drilling site. Never spent a day in college. I think he is probably closer to 2300 but I'm not exactly sure. The thing is they work 24 hours for 2 weeks straight and are the first to go when things slow down they are usually top of the list to go. I got to deal with company men daily for about five months in my current role. Their pay generally ranges from $1500-2500 per day. With the current downturn they're either (depending on where they are in the US) getting laid off, or their shifts are getting consolidated so they either work 10 days on/20 off or 7 days on/21 off. You're still pulling crazy money either way, but they have to pay all their own poo poo (no benefits since they're a contractor). And they're generally very stupid, bigoted people with lovely attitudes. The pay is appealing but the lifestyle sucks.
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Mar 12, 2015 20:10
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10 days on/20 days off sounds like an awesome lifestyle to me but I'm weird
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Mar 12, 2015 20:13
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The Mandingo posted:Do you work for the same large company as me, that rhymes with T Rex? Indeed I do, it appears.
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Mar 12, 2015 20:19
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I just finished a 14 days on 7 days off gig and it was pretty okay for that whole work/life balance thing, but I was always really jealous of the maintenance contractors who got 14 on 14 off, that's a good ratio right there. 10 on 20 off sounds like paradise
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Mar 12, 2015 20:20
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Jeffrey of YOSPOS posted:10 days on/20 days off sounds like an awesome lifestyle to me but I'm weird True, I meant more while being on-site. But yeah you basically have 240 days a year to do whatever you want.
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Mar 12, 2015 20:25
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The thing people don't realise is that on those kinds of rosters, they're not 8 hour days, you're probably doing the same (or more) hours as you would in year as a 9-5, but in much more concentrated blocks. Like that 14 on/14 off roster, I'll bet money they were doing 12 hour shifts, so normally in 4 x 9-5 work weeks you'd do 160 hours, but on a 14 on/14 off with 12 hour shifts you're doing 168 hours in 4 weeks, but crammed into 14 days straight. It sounds loving amazing to people who have never done it, but 14 days straight of 12 hours shifts is pretty full on. Rudager fucked around with this message at 20:41 on Mar 12, 2015 |
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Mar 12, 2015 20:38
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Rudager posted:The thing people don't realise is that on those kinds of rosters, they're not 8 hour days, you're probably doing the same (or more) hours as you would in year as a 9-5, but in much more concentrated blocks. Consecutive hours of free time are better than uninterrupted ones. A lot of my free time is made less effective by the fact that I have to work the next day, and in that sense it certainly sounds appealing even for the same total number of hours.
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Mar 12, 2015 20:41
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ranbo das posted:My friend is trading in his old truck (purchased last year, worth 10k) for a new $25k truck because "it seems like a lot of truck for the money". He has $50k in student loans and also eight other trucks that run perfectly fine (but aren't new) and works for like $10 an hour at a NAPA auto Parts shop. He is literally what we would call a bogan. Vehicular equity of any sort is acceptable and the only thing worth buying.
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Mar 12, 2015 20:48
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Rudager posted:The thing people don't realise is that on those kinds of rosters, they're not 8 hour days, you're probably doing the same (or more) hours as you would in year as a 9-5, but in much more concentrated blocks. I've done a few consecutive double shift, 16 hour days, along with the regular workweek, and I would much rather do two straight weeks of 12 hour days and have the rest of the month off. Sounds like the dream. I don't know how effective a worker I might be by the end of the two weeks, though.
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Mar 12, 2015 20:53
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illcendiary posted:I got to deal with company men daily for about five months in my current role. Their pay generally ranges from $1500-2500 per day. With the current downturn they're either (depending on where they are in the US) getting laid off, or their shifts are getting consolidated so they either work 10 days on/20 off or 7 days on/21 off. You're still pulling crazy money either way, but they have to pay all their own poo poo (no benefits since they're a contractor). And they're generally very stupid, bigoted people with lovely attitudes. The pay is appealing but the lifestyle sucks. Why are they paid so well if so many people want good paying jobs and they're largely stupid folks (I don't personally know any)? That time off sounds awesome, it's like a more extreme version of the Kelly schedule that firehouses work.
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Mar 12, 2015 21:43
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Jeffrey of YOSPOS posted:Consecutive hours of free time are better than uninterrupted ones. A lot of my free time is made less effective by the fact that I have to work the next day, and in that sense it certainly sounds appealing even for the same total number of hours. Sure but much like consecutive hours/days off are more valuable, consecutive hours on are more draining. A good number of physician jobs in my field are scheduled 7 on 7 off for full partner income and it's pretty hard to do indefinitely.
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Mar 12, 2015 21:44
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BEHOLD: MY CAPE posted:Sure but much like consecutive hours/days off are more valuable, consecutive hours on are more draining. A good number of physician jobs in my field are scheduled 7 on 7 off for full partner income and it's pretty hard to do indefinitely. 7/7 is very different than 7/21. I'd take stimulants and work for 168 hours straight to earn $2,500 a day and have three weeks of work off after that. Imagine all the traveling you could do, even if the first week was just sleeping. Like, that is literally my monthly take home pay in 1.8 days, and I have a decent income.
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Mar 12, 2015 21:56
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Radbot posted:7/7 is very different than 7/21. I'd take stimulants and work for 168 hours straight to earn $2,500 a day and have three weeks of work off after that. Imagine all the traveling you could do, even if the first week was just sleeping. Alot of people would for 7/21, but 7/21 is never going to happen expect for a select handful of people.
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Mar 12, 2015 22:10
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Rudager posted:Alot of people would for 7/21, but 7/21 is never going to happen expect for a select handful of people. Except the dude we were talking about a few posts up, which is why I even talked about it in the first place.
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Mar 12, 2015 23:08
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Radbot posted:Why are they paid so well if so many people want good paying jobs and they're largely stupid folks (I don't personally know any)? It's a difficult question to answer. From what I can gather, you typically don't get to a company man position without working your way up through the drilling rig hierarchy (start off as a general rig hand "roughneck", work your way up to derrickman, directional driller, etc). That often takes years, depending on your capabilities and (I assume) work ethic. Keep in mind this whole time you're doing the whole 14 on/14 off, and you have to be flexible enough to be willing to move when a drilling rig stops drilling in a certain area. Some of these guys are moving across the country to do this stuff. Often times the company you're with will assume some of the costs of getting you moved around, but I don't think it's guaranteed. I think to get to the company man point you have to buy into the lifestyle fully and be willing to commit to it until you're in your forties. Not everyone wants to do that. On top of that, it generally takes a certain kind of person to be a company man. You have to deal with a lot of guys under you who can largely be loud, racist pieces of poo poo. They want to be able to commiserate with and relate to you, so it helps if you're a loud, racist piece of poo poo yourself. I realize I'm making these people seem terrible but I heard some horrible poo poo in my time visiting rig sites, so I think it's a fair assumption to make. Edit: Another thing to keep in mind is hierarchy plays a role when drilling activity slows down, like it is right now. When the price of oil drops, rigs stop drilling, and the crews on those rigs generally are out of work unless they can find something. For company men, the company they're contracting with (oil companies) will shuffle around the hierarchies based on available work. So if you were a company man when there were 1000 rigs drilling and now there's only 500, and you're one of the newer guys, you'll get knocked down a peg (with the corresponding knock in pay) until drilling picks up again. illcendiary fucked around with this message at 00:09 on Mar 13, 2015 |
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Mar 13, 2015 00:05
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Looking at some P2P loans and they're great today. One is a loan to buy a wedding ring for $8225 @ 22% interest for 5 years. The other is better another boat purchase for $10,600 @ 28.62% interest, with the borrower comments being "a life changing opportunity". I assume life changing means going bankrupt or ending up lost at sea.
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Mar 13, 2015 00:10
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Well if you get lost at sea you at least don't have to pay for the boat.
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Mar 13, 2015 00:13
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Yeah, ain't no debt collection in Davey Jones' Locker
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Mar 13, 2015 00:14
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Aliquid posted:Yeah, ain't no debt collection in Davey Jones' Locker No, but "Davey Jones - Repo Man" would make a fun short story or film. Your boat payments in arrears? Better not go out too far or ol' Davey Jones will repossess your vessel to the deep.
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Mar 13, 2015 00:18
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This is a thing: http://www.vesselextractions.com Also ship mortgages and shipping finance in general is a pretty  world in itself. Ships are basically a mortgageable commodity... And right now they're in the shitter. 900 feet long bulk carriers rent out for like $7000 plus fuel a day these days. (Fuel'll set you back a cool $25,000 a day though.)
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Mar 13, 2015 03:16
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FrozenVent posted:This is a thing: http://www.vesselextractions.com Holy poo poo my ideal retirement job is working for those guys as an itinerant "we need you to repo this jet" pilot.
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Mar 13, 2015 03:32
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At which point does debt for a graduate degree become bad with money? Assuming it is not a field where one will be unemployed, what debt to starting salary ratio is 'too much'? The ideal ratio I've heard is 1:1, which means paying roughly 10% of one's paychecks for 10 years.
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Mar 13, 2015 03:50
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jon joe posted:At which point does debt for a graduate degree become bad with money? Assuming it is not a field where one will be unemployed, what debt to starting salary ratio is 'too much'? The ideal ratio I've heard is 1:1, which means paying roughly 10% of one's paychecks for 10 years. Don't go into debt for a graduate degree. Maaaaaaybe a master in an high demand field.
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Mar 13, 2015 03:58
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FrozenVent posted:Don't go into debt for a graduate degree. What about medical or law school
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Mar 13, 2015 04:04
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jon joe posted:At which point does debt for a graduate degree become bad with money? Assuming it is not a field where one will be unemployed, what debt to starting salary ratio is 'too much'? The ideal ratio I've heard is 1:1, which means paying roughly 10% of one's paychecks for 10 years. I had debt which was half my starting pay and quarter of my pay in a few years after starting in the field. That level of debt I was paying more than 50% of the loan in principal in my second year of working. More debt than that takes a lot longer to repay at 10%. It comes down to how long you can tollerate the debt before putting that money towards something more useful. I'm fine with you getting 50% of the expected annual pay, anything more than that and everyone will complain when you pay someone to pick up your dog's poop.
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Mar 13, 2015 04:10
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BEHOLD: MY CAPE posted:What about medical or law school Lawyers are recovering from the worst job market for lawyers ever, and have close to a decade's worth of underemployed law graduates to compete with. Unless you're going to a top school, or have a guaranteed job after graduation, law school is about as bad with money as you can get. It's arguably worse than liberal arts grad school because it costs more.
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Mar 13, 2015 04:12
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BEHOLD: MY CAPE posted:What about medical or law school I thought I wanted to go to law school for about 2/3 of undergrad (~5-6 years ago). I helped found an undergrad law review, did law-related clubs, would go to law school events and all that jazz. What I realized after talking to law students, law school graduates, lawyers, etc. they all basically told me the same thing: unless you're going to a Tier 1 (top 14) law school or a tier 2 on a full-ride (rare), don't loving bother. The market is the worst it's ever been and it's only barely recovered. Unless you just really really love law, or you're the top of your class and can network your rear end off chances are the legal profession is going to gently caress you and leave you in six figures of debt. The best decision I ever made was dropping my law school aspirations, focusing on the math/programming of my Econ degree and getting a tech job on the west coast.
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Mar 13, 2015 04:16
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One of my law school classmates who is a chronic oversharer on facebook recently mentioned something about his law school debt being larger than his mortgage. And he definitely has a $100K+ mortgage. Why did you buy a house you dope, you have a baby to raise 
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Mar 13, 2015 04:21
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Why are people so obsessed with paying a lot of money for a degree anyway? Just get a computer science or business admin degree and only pay about $1k per year for exams. http://uopeople.edu/ Even if you borrowed the exam fees for two to four years plus some interest it's less money than some people's monthly credit card bills.
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Mar 13, 2015 04:25
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