Do any of these sound like you?
You are in high school and trying to avoid looking at your education and job options after high school, because you don’t see options that bring you any hope for a stable financial situation. You don’t have the funds to attend college. You know you are capable of dedicating yourself to a rewarding career, but don’t know how to get there.
You know what your eventual career goals are, but you need a good paying job to help you save for the education for the eventual career.
You have no idea what your eventual career goals are and need to build a financial foundation as you navigate through life searching for your passion.
You gained skills from your previous career; professional, fast food, teaching, grocery clerk or pizza delivery person but are worried your transferrable skills aren’t enough to find a new career that can support you.
You are in a position where you could receive student loans to attend college, but the idea of increasing your student loan debt for 4-8 years (4 years Bachelor degree, 2 years Master, 2 years Doctorate) keeps you awake at night. Depending on the college, this could range from $24k- hundreds of thousands of dollars.
Whatever your situation, if you are willing and able to learn and work, YOU HAVE OPTIONS!
It’s an essential service, so nearly pandemic proof. It is necessary even during recessions. It is a rapidly growing and HUGE field with plenty of diversity and rapid promotions. It is a STUDENT LOAN FREE education, and the required education is often PAID BY YOUR EMPLOYER.
What is this dreamy “it must be too good to be true” career?
Theater and Stage Productions
A career as an electrician can lead to self-sustainability, promotion, business ownership, and a student loan free wage of up to 100k a year. Entry level can earn 40-60K per year BEFORE YOU ARE EVEN DONE WITH YOUR APPRENTICESHIP! (Future blogs will discuss what apprenticeships look like, as well as how to choose the right company)
March 2022 US Federal Minimum wage is $7.25 per hour. In Colorado you will fair a little better at $11.10. $11.10 an hour x 40 hours a week, 52 weeks a year = 23,088 BEFORE TAXES.
Average student loan debt in the United States in 2022 is $37,172. Average student loan payment = $393 per month/ $4,716 per year.
Minimum Wage Job: $ 1776 per month/ $23,088 per year before taxes
Average Rent in Denver: $1473 per month/ $17,676 per year
If you work a full-time minimum wage job, and take no vacations or days off, never get sick, you have $451 BEFORE TAXES, to take care of heat, electricity, running water, food, clothes, transportation, soap etc. Good luck. Hello Job Number Two?
Minimum wage jobs have a tendency to have long advancement periods, and rarely move the financial needle by much when they DO have promotions and raises.
Your new Master Electrician job? By the time you complete your 5-year apprenticeship (where you are already earning 40-60k a year), you have the potential to be earning 60-70k. If you began right out of high school, that is 60-70K BY AGE 23!!!!
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