<p>I graduated this May with a degree in Finance from Texas A&M, and am living at home in Dallas right now. I started talking with an alum who owns a small wealth management firm in Louisiana, in a small town 40 mins outside New Orleans. He has one other full time employee and a part time HR guy. He wanted me to take over some of the data entry and analysis to free him up more time to sell. I’d handle some of the grunt work while studying for my series 7, and then slowly take on more responsibility. He offered me $45000 to work for him. The offer letter also mentioned health benefits, but when I inquired further, I found out his plan was to buy me an individual health policy. No bueno, because I have a pre-existing condition, and the federal law doesnt put a stop to discriminating until 2014. Im covered on my dad’s policy right now, but it ends after July, so either he or I is gonna be stuck paying cobra till one of us has a job with coverage.</p>
<p>I told him this was going to be a problem for me, and he said he’d look into installing a group policy. When he finally found out what the rate would be, he said he could only pay me $40,000. I cant say I blame him, but Im kind of sour on the deal now. Its not a location Im especially interested in (population 12,000, and it takes 40 mins to get to new orleans), nor one that is centrally located to a lot of other business opportunities. Im also worried that with only a couple other employees, my condition is going to make his group rate go way up after a year, and my salary is going to continue to be affected. This wouldnt be as big a problem at a bigger company.</p>
<p>For $40,000 Im not sure its worth the trouble. I’ve talked to some adults that think I’m crazy to pass up 40k, because they have kids and barely make that much. But since this site has some really well educated people, I think the perspective could be a little different. Part of my problem is that I dont currently have a car, and I cant count on my parents to co-sign for me. I feel that kind of limits my geographic mobility, especially when it comes to more rural areas. Id have to finance the whole thing and I’d get a terrible interest rate having not established much credit yet.</p>
<p>So I think my best bet is to try and get a job with a bank in Dallas or Houston, or with a government agency or corporate finance position similarly located. The economy is getting better, and I wont be spending a lot of money living at home in the meantime. Is this wise, or does it sound like Im passing up a good opportunity?</p>
<p>Our career center survey says the average finance major for fall 09 had a salary of 47k with 26 respondents. Obviously there’s some reporting bias, but it sounds accurate. My gpa is slightly above the median of my major, but I never had a fantastic internship.</p>
<p>As a college grad living with mommy and daddy, I’d recommend to you to take this job unless you have better offers. No, it doesn’t sound like your dream job, it may not be golden, but it is reasonable. I’m 50, and I’m not in my dream job. Start with a beater of a car, then step up as you can afford. The days of needing parents’ $ help should be over or nearly over at this stage in your life. To answer your question, it sounds like you are passing up a reasonable opportunity to be more comfortable and to remain jobless in parents home. But for you and for the parents I ask- was that the expectation when they raised you? When they sent you to college? When you graduated college? To remain in their home turning down reasonable job opportunities?
Don’t be afraid to venture out into the adult world. Between your parents’ lessons and your college lessons you should be ready to become a self-supporting adult. The last step from child to self-supporting adult isn’t always easy- I’ve been there, my S has been there. Use this job as a life lesson- you will either grow in the job, or you will learn and grow there but move on to something else.
I can understand hesitating on the insurance issue too. Yes, insurers can be selective now, though you call it discrimination. As a finance grad I’m sure you understand the rights(under current law) of a private company.
This job offer isn’t a prison sentence; you can accept it, learn, and move on if you wish. You are likely to take some mis-steps as you progress, but make the best decisions as you can and move on and move up.</p>
<p>I graduated from college during a recessionary time. Took a job in my field hat paid next to nothing. got a beater car, lived with roommates I didn’t know or like. Bought my work clothes at Ross, ate mac and cheese because it was all I could afford. In better years it seems that college grads got a lot more fussy about jobs they would take. There is a parent thread on this and one of the parents talks about her D collecting Bama Bucks (unemployment). I would rather see my college grad in any job (including service, retail, etc) than collecting unemployment. As an employer I would rather hire someone who took any job than someone who has been sitting around waiting for the perfect job.
Gradually opportunities opened up. Two years later I was the youngest manager there.
If this job has any opportunity for advancement and growth I would take it.<br>
It will be a job on your resume and a truly growing experience. Nothing says that a year from noiw you can’t take another job.</p>
<p>Vyse,
Consider your options:
$40,000, work experience, and health insurance covering your pre-existing condition;
$0 income, no job, and significant COBRA costs in July.</p>
<p>Here is what I’d advise my child:
Continue to pound the pavement; accept the existing job offer (and health insurance) as of a date just prior to the current insurance expiration; if another opportunity presents itself before the start date, reconsider your options. Once you start a job, keep it for a year.</p>
<p>Take the job. Get some good work experience. Get good references. The pay isn’t great but it’s not bad either, especially if you’re lacking a good internship experience. You can move on after a year or so. Buy a reasonably priced car (my son got an REAL old LEXUS for under $4000).</p>
<p>Im covered on my dad’s policy right now, but it ends after July, so either he or I is gonna be stuck paying cobra till one of us has a job with coverage.</p>
<p>Doesn’t sound like you have a choice- but to accept the job.
From reading prior posts, I know that you would be uncomfortable having your parents pay for the bulk of your living expenses, especially including something as expensive as COBRA- after college graduation.</p>
<p>Nothing wrong with living in a small town- in fact it should reduce your living expenses.
Many students are taking jobs not connected with their majors- if you wait for the perfect job- the perfect employer is going to question what sort of work ethic you have if you have a large empty place on your resume.</p>