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LSU graduate looking for a little advice?
Posted on 8/30/09 at 11:02 am
Posted on 8/30/09 at 11:02 am
HI, guys this is my first post. I'm a recent mechanical engineering graduate from LSU and I'm about to start a new job in southern california. I appreciate having this job but the salary is low, 50k for the first year. Me and my wife are staying with my aunt/uncle. I'll start looking or another job soon, would prefer to move closer to home. but here is the question. The job is very stable, my aunt works there and is making like 80 a year. She keeps trying to hint how she thinks we should buy instead of rent I guess in the next few years. I just think that would be stupid for me to do given there housing market and my postion. She got lucky with her house but I understand that wouldn't happen wih me. She just bought a foreclosure in Las Vegas trying to capitalize on the given conditions. I don't care how much rent is, I think I should avoid purchasing a house for the next few years at all cost, what do you guys think? Oh, does anyone have any advice for young graduates looking jobs. Before deciding to come here I couldn't get a drafting job in a shipyard. I'm not that bad!
4
Posted on 8/30/09 at 11:09 am to man117
ok, right now, save save save, save 10-20 percent for a down payment. Keep eye on deals. CA will probably go down some more and you will probably be able to pick up a better deal.
You are fresh out of school so you need to build up a couple of things. Keep the debts low. When you get a house, your monthly bills that will appear on a credit report (Utilities and insurance won't unless delinquent) including the new mortgage should be no more than 36% of your income. Gross income. Figure taxes are close to fifty percent of your income so you should get that 36% a little lower.
also get a couple of tradelines on credit report. If that means grabbing a couple of credit cards, then fine. Just put your gas on it and pay it off every month and don't run up a balance that carries over. If you are paying rent, PAY WITH A CHECK!!! It shows you can handle a housing payment.
You are fresh out of school so you need to build up a couple of things. Keep the debts low. When you get a house, your monthly bills that will appear on a credit report (Utilities and insurance won't unless delinquent) including the new mortgage should be no more than 36% of your income. Gross income. Figure taxes are close to fifty percent of your income so you should get that 36% a little lower.
also get a couple of tradelines on credit report. If that means grabbing a couple of credit cards, then fine. Just put your gas on it and pay it off every month and don't run up a balance that carries over. If you are paying rent, PAY WITH A CHECK!!! It shows you can handle a housing payment.
Posted on 8/30/09 at 11:20 am to prplhze2000
Thanks for the advice, we have a few credit cards, but don't use them much. I just think the housing market around here is still to high. They bought for 170 like 11 years ago and a banks trying to get 400 for a foreclosure in their complex. A crappy 1 or 2 bedroom condo is like 200. It seems to me that despite the foreclosures around here, the market is still too high.
Posted on 8/30/09 at 11:24 am to man117
quote:
I appreciate having this job but the salary is low, 50k for the first year.
Just save as much as you can and live with the aunt or rent. Not enough $ to buy anything decent in Southern California.
quote:
I'll start looking or another job soon, would prefer to move closer to home.
Another reason not to buy anything. You'd be stuck in Southern California making 50K a year when you could be more mobile and make 80K+ in Texas/Louisiana where you could live very well on that.
This post was edited on 8/30/09 at 11:27 am
Posted on 8/30/09 at 12:05 pm to Ric Flair
quote:
I'm a recent mechanical engineering graduate from LSU and I'm about to start a new job in southern california.
Keep your eyes open for jobs in LA/TX, I know a lot of companies reduced the number of people they were recruiting after the drop in oil prices, but now that it has come back up, jobs should start to show up again.
If you look hard enough and had at least a 2.8 gpa(pref. a 3.0+), you will come across jobs paying $60k+ which goes a long way here in LA/TX
Posted on 8/30/09 at 12:29 pm to LSUKTR
I finished with a 2.95 and have a fair amount of experience to prove I can learn and adapt. I interned at the place I'm at now for 10 months. I really want to find something in LA/TX but I didn't find anything after I graduated.
Posted on 8/30/09 at 12:54 pm to man117
quote:
I finished with a 2.95 and
I have never had any employer ask about a GPA. In on campus recruiting they use it to weed out because they have way more applicants than positions. Once you have work experience they only care about you having a degree.
As far as buy v rent, in your position, definitely rent and save.
Posted on 8/30/09 at 1:03 pm to man117
quote:FWIW:
I don't care how much rent is, I think I should avoid purchasing a house for the next few years at all cost, what do you guys think? Oh, does anyone have any advice for young graduates looking jobs.
- Sorry to hear about your situation, obviously it's a tough job market.
Back in 2000, I know several of my Tulane engineering friends (elec., mech., bio-med, etc.) returned home to SoCal w/ $65k/yr+++ jobs (plus signing bonus, benefits, moving expenses, etc.) w/ companies like Raytheon, etc. Several went on to get advanced degrees at USC, UCLA, etc.
- Only making $50k in SoCal is going to be really difficult w/o some other form of support. Unless you've got $$$ saved, you won't be able to afford the down payment, annual taxes, etc. for the typical $XXXk SoCal family (since you're already married) home.
Simply stated, try maximize your monthly cashflow: low rent, $ave, and continue your job search.
You'll get there - good luck.
Posted on 8/30/09 at 1:33 pm to Sidis
I work for a company that supplies some stuff for Raytheon and others. They deal with electrical connectors. I definitely would not have taken it if not for having family working there. My salary will go up to about 58 next year but I don't intend to stay long. If I do, my company will pay for graduate studies at UCLA or USC. That is appealing.
Posted on 8/30/09 at 2:57 pm to H-Town Tiger
quote:
I have never had any employer ask about a GPA. In on campus recruiting they use it to weed out because they have way more applicants than positions. Once you have work experience they only care about you having a degree.
I interview people for my company, and that's generally how I look at it. Come to think of it, I haven't seen more than a bare handful of people with work experience who put their GPA on a resume, and it's never occurred to me to ask.
Oh yes, I also vote for renting, especially if you aren't sure where you'll settle down.
Posted on 8/30/09 at 4:09 pm to foshizzle
As far as GPA goes, I know if you have been out of school for 2 or fewer years, the company I work for looks....after that it is all about experience.
There are a ton of oil field service companies in Houston or Lafayette that you could send your resume to. I work in the industry and the people I have been talking to have said that business is picking up and the signs on their door saying "we are NOT taking applications" have been taken down and I've noticed several advertising some positions.
Use Monster.com, careerbuilder.com, etc. And also look up every company you may want to work for and go to their website to see if there are job postings.
good luck
There are a ton of oil field service companies in Houston or Lafayette that you could send your resume to. I work in the industry and the people I have been talking to have said that business is picking up and the signs on their door saying "we are NOT taking applications" have been taken down and I've noticed several advertising some positions.
Use Monster.com, careerbuilder.com, etc. And also look up every company you may want to work for and go to their website to see if there are job postings.
good luck
Posted on 8/30/09 at 4:13 pm to foshizzle
'Come to think of it, I haven't seen more than a bare handful of people with work experience who put their GPA on a resume, and it's never occurred to me to ask.'...gee, why am I not surprised. Do you check their respiration to see if they can fog a mirror?
Randy Newman has your song, foshiz...
'We talk real funny down here
We drink too much and we laugh too loud
We're too dumb to make it in no Northern town
And we're keepin' the nxxxers down
We got no-necked oilmen from Texas
And good ol' boys from Tennessee
And college men from LSU
Went in dumb - come out dumb too
Hustlin' 'round Atlanta in their alligator shoes
Gettin' drunk every weekend at the barbecues
And they're keepin' the nxxxers down
We're rednecks, rednecks
And we don't know our arse from a hole in the ground
We're rednecks, we're rednecks
And we're keeping the nxxxers down'
...complete lyrics at... LINK
Posted on 8/30/09 at 6:50 pm to Rivers
quote:
Randy Newman has your song, foshiz...
'We talk real funny down here
We drink too much and we laugh too loud
We're too dumb to make it in no Northern town
And we're keepin' the nxxxers down
We got no-necked oilmen from Texas
And good ol' boys from Tennessee
And college men from LSU
Went in dumb - come out dumb too
Hustlin' 'round Atlanta in their alligator shoes
Gettin' drunk every weekend at the barbecues
And they're keepin' the nxxxers down
We're rednecks, rednecks
And we don't know our arse from a hole in the ground
We're rednecks, we're rednecks
And we're keeping the nxxxers down'
Posted on 8/30/09 at 8:09 pm to foshizzle
He's slightly off, fozhizz. Everyone who posts on this board knows that by now. Just ignore him.
This post was edited on 8/30/09 at 8:24 pm
Posted on 8/30/09 at 8:14 pm to foshizzle
Very lame response, foshiz. Is it a real thrill and rare occurence when you interview a prospective employee that is more ignorant than you? Were you promoted from the mail room to the personnel dept? What was your career path?
Posted on 8/30/09 at 9:03 pm to Rivers
My career path did not involve the great quantities of alcohol you appear to consume.
Seriously, your posts are just loony.
Seriously, your posts are just loony.
Posted on 8/30/09 at 9:24 pm to Rivers
Most people don't put their gpa on a resume if they have work experience. If they have a good gpa, they will include "cum laude" or whatever honors they had under the education part.
Posted on 8/30/09 at 9:43 pm to foshizzle
quote:
My career path did not involve the great quantities of alcohol you appear to consume.
Seriously, your posts are just loony.
I RA'd him for his post flaming you, foshizz.
(BTW, I don't RA him for his posts flaming me. I actually get a
out of those! )Posted on 8/30/09 at 10:11 pm to LSURussian
Oh, I wouldn't RA him. Some of his stuff is really bizarre, that's all.
Posted on 8/30/09 at 10:25 pm to foshizzle
quote:I wouldn't expect you to do so. But I thought he was obviously violating the MH Doctrine (stickied thread) and you didn't deserve it. Like I said, I've never RA'd him for the crap he's written about me..... I look forward to it.
Oh, I wouldn't RA him.
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