POLITICS Inflation /General Finance Insanity

I had an interesting dinner meeting with a couple of "Development" leaders for the College of Engineering last week. I learned a few of things. At least it was new to me.

1. Engineering has their own Development (money) team. Structured like the Athletic side. I know this is not new, per se. But it seems organized.
2. The focus is on recruiting and retaining. As opposed to my day it was come if you dare and we could give 2 shits if you wash out. In fact, we welcome/expect it. The old "look to your left and right; they won't be here the next quarter" philosophy.
3. They are trying to expand their tutor/student support. Retention/development vs sink/swim.

I am probably naive, but I found this interesting.

 

When I came to UT, everyone got the "look to your left, look to your right, one of you 3 won't be here next year" talk.

 

Meanwhile the first year vet students are having a meltdown over being told they can’t bring their water bottles into the anatomy lab

 

I remember back in 70's having discussions with wannabe med and vet students. Both agreed it was harder to get into Vet school than Med school. Evidently there weren't that many Vet schools back then.

They were both freaking out that they might not get an A in calculus and why was I, an Engineering student, so complacent. I explained that 1. I was 4 years older than them; 2. I had a family; had to carry a full load to get my max GI bill payment; and work 30 hrs/week to help feed the family; 3. I had no desire to get more than a BSEE and companies who hired me after 4 years would put more credence in a family man getting an Engineering degree on the GI bill than my GPA. This proved to be true (for me).

My how times have changed.

 

Still true about vet school vs med school.

 

Will always be true. People are less cute and animals don't have money.

 

UT has gone from 60 spots to about 90 since I’ve been here and LMU opened a vet school, so there’s a little bit more, but there’s still a crap ton more applicants than spots.

truthfully I can’t recommend it unless it’s just what you want to do. Debt is huge and the money, while good out of context, doesn’t really get that debt down easily

 

It's a financial disaster. Anyone going in should have no illusions on that. They are indentured to the work will never be as well positioned as if they went to med school. So many after the fact lament not being compensated like their human medicine counterparts but that is a known going in

 

I had no idea how much vets made so I googled and came up with 99k median salary, that seem about right?

 

Yes, but you don't make that right away and you probably have 6 figures in student loans

 

Also, unlike a MD you are susceptible to recessions. It is closer to retail type dynamics than human medicine if you are a general practice

 

If you cannot make money at a job, and stay in perpetual debt to do it, soon there will be none of them.

It is idiotic if you have to work 10 years just to get out from under your school debt.

 

My niece just graduated from UT Vet school this May. Have no idea about her debt load. I got the impression it is not life altering, but I really don't know. She is one of those in the "I really want to be an animal doctor" group.

When I went back to school, I said what 4 year degree could I get and have the most job options and make the most money right out of school? At that time it was Engineering. It paid off. But then again college was affordable in those days. Now? Not so much.

 

The fact that most companies no longer view their employees as assets, but rather expendable commodities no matter the educational level, is one of the problems. IMO.

 

I’m not advocating what I do (CPA) as some dream career path, but you can go to UT on the hope (or other states equivalents), get your masters for free (if you had good grades in undergrad) and make six figures within five years of graduating. Certainly not bad.

 

I wouldn’t say it’s unmanageable. Its just a reality

 

Starting salary for an engineer in my day was $18k. For my Dad it was $5k. Lol!

But, Yep. There are options. The key is what you do with it once you are in the door. Now it seems you need a Masters.

My Engineering degree opened a lot of doors and allowed me to get into all kinds of stuff over my 30+ year career. I ended my career as a Negotiation Exec in CHQ Legal doing M&A, divestiture, major deal negotiations, etc. The degree got me in the door. It helped not having debt.

 

Yep.

 

my best friend graduated in LMU’s first class for vet school and makes about 180,000 a year.

he acts like there’s ton of money to be made but women dominate the profession and just want to work half days.

 

Or have a baby and work 1 day a week