Is a $40,000 a year a good job?

Question

I am 29, with a bachelor's degree, living in the midwest.

Answer 1

Don't for get the government is going to get about a quarter of it.

Answer 2

It isn't bad starting out. It depends on the cost of living where you live. I make over little less than $50,000 --I get health & dental benefits. Plus I get overtime--I get paid by the hour.And I have an Associate degree in Respiratory Therapy but I have done this for over 30 years. When I started in Respiratory therapy in 1975--I was making $4.20 an hour(10cents more than minimum wage at the time).

If I lived in California --it wouldn't be enough. Couldn't afford a one bedroom house there on what I make right now.

Answer 3

well its not a bad job

Answer 4

Depends on the cost-of-living in your city/county/State. Not all geographic regions are similarly affected by negative or positive changes in the economy. And those negative or positive effects are not equitably fixed. If you earn say, $75,000 in Apalachia you are living on a King's ransom. However the same salary in Manhattan or Southen California would make you barely Middle-Class.

Answer 5

It matters on were you live and what your degree is. Were I live in the wash/Baltimore that's McDonald's s pay but were you live it may be good.

Answer 6

In New York City just to be "making it" and getting by the ideal  figure wa splaced at $65,000.00 per year.

So $40,000.00 a year in New York is a poverty salary but it is too high to be considered poverty to be able to get some social benefits and services and even the earned income credit is no longer given at that level of salary.  

Possibly it is good to "get by" in a small town in the midwest but to really be "making it" well the salary would have to be much more than $40,000.00 per year.

Answer 7

In the midwest it is a much better salary than in the northeast where things are more expensive, especially rents and mortgages.

Over all it is a good starting salary but it is not the most desireable income.

Answer 8

There are other things to consider when looking at a salary...

Most important is, does that include health benefits?  Or will you have to purchase your own insurance?  What about a retirement plan...does your company *match* any contributions?

You can't just look at the bottom line...you've gotta look in the middle too.

And you have to consider what you want to do with that money.  Are you a miser who pinches every penny?  If so, then yeah you can probably live pretty well on $40K.  Do you want to drive a new Jaguar?  Then no, $40K won't cut it.

Answer 9

Its a good Starting salary, a little lower then average.... i found a great website for you to look at the second number is for the highest in the field which i find to be slightly unrealistic:

http://www.studentsreview.com/salary_by_...

Answer 10

yeah you are on the doorstep of America poverty