Graduating in ’09 is Bad for the Bank Account

If you’re graduating this spring and you’ve managed to score a job you’re probably thanking god (if you still believe there is one) and thinking you’re super lucky. But think again. Because according to the WSJ, those currently entering the labor market won’t only be suffering from low-salary syndrome this year, but for, uh, ten more to come. Yes, ten years—or more!

See, supposedly if you graduate when the economy, uh, sucks (like in 2009), you’ll end up making about 100K less over the next 20 years than your bud (soon to be mortal enemy) who will graduate in better times. Why? WSJ says that even if the economy bounces back in a few years, while you’ve been working your butt off in the tiny firm no one has heard of, your luckier friend has just been hired at Bank of America. And now, although he’s two years your junior, he has more experience, a better resume, and a bit, or a ton, more moolah than you do. So while he will move steadily up the ladder, you will have a much harder time finding better and brighter pastures, and your wages may suffer (what seems like) eternally.

But hey, money doesn’t matter, right? Read More »