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re: Break it down - your finances
Posted on 4/30/15 at 1:03 pm to DirtyMikeandtheBoys
Posted on 4/30/15 at 1:03 pm to DirtyMikeandtheBoys
Dirtymike,
What kind of experience did you have coming out/ when did u get out of school?
I'm only asking because the cm department is incredible at lsu. Giving a good idea of salaries is not their strong suit though.
What kind of experience did you have coming out/ when did u get out of school?
I'm only asking because the cm department is incredible at lsu. Giving a good idea of salaries is not their strong suit though.
1
Posted on 4/30/15 at 1:21 pm to baseballmind1212
I grew up in a construction family (dad is architect/GC). I've framed houses and shite since I was a kid.
At LSU I was with the football team for 6 years (support staff, scholarship so full time though), so did not do internships or anything else.
When I graduated a friend was a salesman at a company (manufacturing) who needed an estimator. I applied and was hired. I was in grad school finishing my masters. Started work in 2012
3 years later, and I answer only to the CEO. I attribute the quick rise and most of this to the shite I learned in the football department and a bit from the technical/business side of CM.
I screwed up initially though, I could've started at 55-60k. I was naive and when she asked me a #, I was honest.
I think most guys applying in commercial/industrial could swing $55-65k starting as an estimator or project engineer.
At LSU I was with the football team for 6 years (support staff, scholarship so full time though), so did not do internships or anything else.
When I graduated a friend was a salesman at a company (manufacturing) who needed an estimator. I applied and was hired. I was in grad school finishing my masters. Started work in 2012
3 years later, and I answer only to the CEO. I attribute the quick rise and most of this to the shite I learned in the football department and a bit from the technical/business side of CM.
I screwed up initially though, I could've started at 55-60k. I was naive and when she asked me a #, I was honest.
I think most guys applying in commercial/industrial could swing $55-65k starting as an estimator or project engineer.
This post was edited on 4/30/15 at 1:24 pm
Posted on 4/30/15 at 2:04 pm to JonaYolles
36 years old, married, four year old and three year old at home
Net - $30,000/month (some months $25K, some months $55K so $30 is a conservative average
Mortgage - $3,242.00--includes insurance and taxes--VA Loan so no PMI
Utilities - $550.00
Cars and insurance - $1,700.00
Boat/slip/insurance - $550.00
Credit cards - zero
Wife's cell - $114.00
Day care - $1,560.00
Wife's student loans - $411.00
Gas/Groceries/Fun - $3,000.00 (budget $100 a day)
SEP IRA - $4,000.00 a month
529 college plans $1,000 a month
Vacation - $750 a month
Money Market - $10,000
Checking - $3,000.00
I have way too much money in checking and probably need to get with a strong planner to maximize what I've got going. Wife's student loans--one is like at 1.9 and the is prime plus one.
Goal is to start getting real estate business going.
I own a construction staffing company and business is very good and has been the last four years.
Net - $30,000/month (some months $25K, some months $55K so $30 is a conservative average
Mortgage - $3,242.00--includes insurance and taxes--VA Loan so no PMI
Utilities - $550.00
Cars and insurance - $1,700.00
Boat/slip/insurance - $550.00
Credit cards - zero
Wife's cell - $114.00
Day care - $1,560.00
Wife's student loans - $411.00
Gas/Groceries/Fun - $3,000.00 (budget $100 a day)
SEP IRA - $4,000.00 a month
529 college plans $1,000 a month
Vacation - $750 a month
Money Market - $10,000
Checking - $3,000.00
I have way too much money in checking and probably need to get with a strong planner to maximize what I've got going. Wife's student loans--one is like at 1.9 and the is prime plus one.
Goal is to start getting real estate business going.
I own a construction staffing company and business is very good and has been the last four years.
Posted on 4/30/15 at 2:07 pm to JoseVargasTX
I'm poor. frick.
This post was edited on 4/30/15 at 2:08 pm
Posted on 4/30/15 at 2:13 pm to Salmon
After reading Jose's post - we all poor 
Posted on 4/30/15 at 2:36 pm to JonaYolles
Jesus. 30K after taxes at 36.
Why don't you just pay off your wife's student loan straight up?
Why don't you just pay off your wife's student loan straight up?
Posted on 4/30/15 at 2:51 pm to STLhog
My guess is because it's at 1.9%.. But he does have a lot of money lying around.
ETA: Frick you Jose
ETA: Frick you Jose
This post was edited on 4/30/15 at 2:52 pm
Posted on 4/30/15 at 2:59 pm to STLhog
A couple of reasons on the student loan--
1. interest rates are low
2. my wife was married previously and her ex-husband is also on these loans and just in case something were to happen, I feel like maybe he would like to make sure they got paid off since he would be getting the credit ding.
**Ok, so number two is a really bad reason...
1. interest rates are low
2. my wife was married previously and her ex-husband is also on these loans and just in case something were to happen, I feel like maybe he would like to make sure they got paid off since he would be getting the credit ding.
**Ok, so number two is a really bad reason...
Posted on 4/30/15 at 3:00 pm to LSUengineer12
So utterly depressed now.
You nearly put my monthly gross income into a money market each month.
Thanks Jose, I need a beer now.
You nearly put my monthly gross income into a money market each month.
Thanks Jose, I need a beer now.
Posted on 4/30/15 at 3:18 pm to DirtyMikeandtheBoys
Ok that's why I was asking. I've got a couple buddies that are all graduating this semester. 3 have jobs waiting and one is going for his masters. Of the three though I think only one of them is under 60k.
I was just trying to see if that was irregular or par for the course.
I was just trying to see if that was irregular or par for the course.
Posted on 4/30/15 at 3:20 pm to BoogaBear
You must staff a few hundred people a month to be netting 30k a month.
360k/year net so roughly 500k annually plus to have to pay for operations at the business (assume you have multiple employees).
Must be making at least a few million and year on the top line.
360k/year net so roughly 500k annually plus to have to pay for operations at the business (assume you have multiple employees).
Must be making at least a few million and year on the top line.
Posted on 4/30/15 at 3:24 pm to lynxcat
My offices bill on average $270K (two offices total billing) a week. We are not a day labor company so our hourly bill rates on the guys we put out to work are in the upper $20s to low $40s per hour. When you're running a GP of 22% on those numbers, you can see how it's a great business model.
Posted on 4/30/15 at 3:29 pm to JoseVargasTX
I'm actually surprised the Gross Margins are not even higher than that... I assume you have a decent number of staff on the books to be able to source and place that many candidates at a time?
Seems like a straight forward business model that requires people, couple IT systems to track everything, and two offices and you are set. Maybe I am underestimating the complexity
Seems like a straight forward business model that requires people, couple IT systems to track everything, and two offices and you are set. Maybe I am underestimating the complexity
Posted on 4/30/15 at 3:34 pm to lynxcat
We cover all payroll taxes, workers comp, and carry GL on all of the guys we put out in the field. When you present a customer with a bill rate on a $25 an hour guy at $35-36 an hour, they get a little nervous. Ideally we like to markup at a 1.5 multiplier, but you don't always get that. Sometimes we get way more, sometimes way less.
You've got the basics covered and out of the GP, we pay our SG&A, including my W2 salary. I have a partner who provides corporate level support and then I have staff in my offices who recruit and do office admin as well as a small sales team.
You've got the basics covered and out of the GP, we pay our SG&A, including my W2 salary. I have a partner who provides corporate level support and then I have staff in my offices who recruit and do office admin as well as a small sales team.
Posted on 4/30/15 at 3:42 pm to lsupride87
quote:
quote:
27, married, no kids
Net-$6100/month
Lets take this for example. $6100 a month net comes out to $120,000 a year gross
LINK
As a single 27 year old in Louisiana, STRAIGHT MUTHA frickIN BALLLLIINNN I think he most likely meant gross. This was EPIC cajun. Who is a great poster. So I do not think he is lying in anyway Hell, I hope he was right and really is pulling in 120k
ETA: SHOOT ME IN THE FACE. YOU ARE MARRIED
I pay $575 into retirement and $130 into insurance before I see the my check, so my take home is $5400, while my after tax before retirement/insurance net is $6100. I don't even make 100k (yet
) so I'm not sure where that 120k number comes from. My wife doesn't work (she's still in school).Posted on 4/30/15 at 3:57 pm to JoseVargasTX
Damn, Jose. Where are you in TX and do you need an IT guy who will do side work for you? lol
Posted on 4/30/15 at 8:12 pm to MyNameIsInigoMontoya
Two best friends are MEs in Louisiana and they are clearing 80k with less than a year of experience. My cousin is two years out of school as a CE and is making 85k. I took a different route and am in medical sales and consulting.
Posted on 4/30/15 at 8:18 pm to 1860pissed
I was going to post but screw it.... Instead let us laugh at my expenses
Utilities- about 120 a month
Student Loan- 250 a month
Cell Phone- 110 a month
Car Note- 360 a month
Insurance- 140 a month
Gas- 120 a month (usually fill up once a week)
Food/Going Out- 200 a month
Credit Cards- 300 a month (includes my amazon prime/netflix)
Groceries- 300 a month (roughly)
Utilities- about 120 a month
Student Loan- 250 a month
Cell Phone- 110 a month
Car Note- 360 a month
Insurance- 140 a month
Gas- 120 a month (usually fill up once a week)
Food/Going Out- 200 a month
Credit Cards- 300 a month (includes my amazon prime/netflix)
Groceries- 300 a month (roughly)
Posted on 5/5/15 at 11:02 am to JoseVargasTX
quote:
Day care - $1,560.00
WHAAAT???
I thought me payin $700/mth for my 2 kids was expensive...holy $hit man!!!
31/married/2kids
Net $8800/mth
Mortgage/utilities $1500, will be paid off in 9yrs or sooner
Food/Gas $700mth
Trucks/Insurance $1400mth- 1 will be paid off nxt year!!
Babysitter-$700mth
Roth $450mth
401K $700mth
Credit cards/Student Loans $350mth- $9000 left (wifes student loan)
cant wait to have the loan and my truck paid off, then I can really start doubling up on my bills. Planning to have the house and zero vehicle notes by the time im 40
This post was edited on 5/5/15 at 11:14 am
Posted on 5/5/15 at 11:24 am to 1860pissed
quote:
My cousin is two years out of school as a CE and is making 85k.
What does your cousin do for CE? Man I need to start looking around some more
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