HOW TO MAKE IT BIG….
EARN A MILLION DOLLARS
+++
IN SOUTH CENTRAL PA
Now That I Have Your
Attention……
LET’S GET
STARTED !
WHAT DO WE NEED FOR THE
GOOD LIFE?
I see a FULL TIME JOB
In your future…
A FULLTIME JOB MEANS
I WILL WORK ? HOURS PER WEEK
Good question…How many hours a week do you
think you will be working when you graduate from
school?
?
FOR THE GOOD LIFE?
40 hours per week!
WORK ? WEEKS PER YEAR
OK, you agree that 40 hours is about the right
number of work hours each week but,
…how many weeks per year do you think you will
be working when you graduate from school?
?
50-52 weeks per year!
GOOD LIFE?
I PLAN TO WORK ? YEARS
And the last question…How many years do you
think you will be working during your lifetime?
?
SO, FOR THE GOOD LIFE WE NEED:
35 to 40 years of work!
1. FULL TIME EMPLOYMENT
+
2. WORK 40 HOURS PER WEEK
+
3. WORK 50-52 WEEKS PER YEAR
+
4. WORK 35-40YEARS
Let’s Target $2,000,000
If I want to earn $2,000,000 in my
lifetime I will need to earn $ X per
hour.
If you’ve had algebra this is an easy
one to solve.
Even with out algebra, it’s pretty easy since
we already have the formula for success…
HOW TO EARN $2,000,000.
40 HOURS/ WEEK
52 WEEKS/ YEAR
35 YEARS OF WORK
Solving for X it reads
“$X” x 40 x 52 x 35 = $2,000,000.
HOW TO EARN $2,000,000. IN 35 YEARS
“X” x 40hours x 52weeks x 35years = 2,000,000
40hours x 52weeks x 35years 40 x 52 x 35
let’s make it an easier formula to work with by multiplying 40X52 =
2080 and then multiplying 2080 X 35 = 72,800
“X” x 72,800 =
72,800
“X” =
2,000,000
72,800
HOW TO EARN $2,000,000 IN 35 YEARS
“X” = 27.47
$27.47 per hour is the target rate if you
want to earn a million and retire after 35
years of work.
LET’S ASSUME YOU START
YOUR FIRST FULL-TIME
JOB WHEN YOU’RE 22 YEARS OLD.
HOW OLD WILL YOU BE AFTER
35 YEARS OF WORK?
WHAT IS THE NORMAL RETIREMENT
AGE IN ORDER TO DRAW
SOCIAL SECURITY?
WOULDN’T YOU LIKE TO RETIRE EARLY?
EVEN IF YOUR TARGET IS TO RETIRE
AT AGE 62 YOU’LL NEED TO WORK
40 YEARS.
LET’S TAKE A LOOK AT THE AMOUNT
YOU’D HAVE TO EARN PER HOUR TO
MAKE A MILLION IN 40 YEARS.
HOW TO EARN $2,000,000. IN 40 YEARS
“X” x 40hours x 52weeks x 40years = 2,000,000.00
40hours x 52weeks x 40years 40 x 52 x 40
“X” x 83,200 = 2,000,000.00
83,200
83,200
“X” = 24.04
[$24.04 per hour is the target rate if you’re
willing to work 40 years.]
OH, YEA, TAXES!!!!!
1. Federal (single rate)
2. State
3. Local
4.
15.28%
3.07%
1.00%
FICA, FUTA & Medicare Tax
8.45%
Total Taxes 27.80%
So, What do I have left?
100% - 27.8% = 72.2%
2,000,000 X .722 = $1,444,000
LET’S TAKE A LOOK AT SOME JOBS
YOU CAN GET RIGHT HERE IN
YOUR HOME TOWN AREA.
MAKE A NOTE OF HOW MANY ARE
MILLION DOLLAR JOBS!
Can you earn a good income in
South Central PA?
Income (2011)
York County Pennsylvania
Per Capita
Income
$27,196
$13.08/hour
Median
$57,494
Household
$27.64/hour
Income
Source: U.S. Census Bureau
United States
$27,049
$27,334
$50,398
$51,914
http://quickfacts.census.gov/qfd/states/42/42133.html
FOOD SERVICE JOBS
PA Occupational Wages Survey January 2012 (South Central PA)
How many hit our 40 year Target of $24.04?
How about the 35 year target of 27.47?
OCCUPATION
Counter Attendants, Food and Coffee Shop
Dishwashers
Waiters and Waitresses
Hosts and Hostesses, Restaurant, Lounge, and Coffee Shop
Dining Rooms and Bartender Helpers
Food Preparation and Serving Workers, Fast Food
Bartenders
Cooks, Fast Food
Cooks, Short Order
Cooks, Restaurant
First-Line Supervisors of Food Preparation Workers
Chefs and Head Cooks
Wage /Hour
$ 8.74
8.87
9.10
9.26
9.33
9.75
10.00
10.33
11.30
12.10
16.48
16.67
FOOD SERVICE JOBS
Educational Requirements
Counter Attendants
Dining Rooms Helpers
Waiters and Waitresses
Dishwashers
Cooks, Fast Food
Bartenders
Food Preparation Workers
Hosts and Hostesses
Cooks
First-Line Supervisors of Food
Preparation Workers
Chefs and Head Cooks
HS Diploma
AS Degree or
Certificate Program
AND Experience
OFFICE WORKER JOBS
How many hit our 40 year Target of $24.04?
How about the 35 year target of 27.47?
PA Occupational Wages Survey January 2012 (South Central PA)
OCCUPATION
Bank Tellers
Receptionists
Office Clerks
Medical Secretaries
Customer Service Representatives
Shipping, Receiving, and Traffic Clerks
Bookkeeping /Accounting Clerical
Payroll Clerks
Postal Service Clerks
Police, Fire, and Ambulance Dispatchers
First-Line Supervisors of Office Workers
Postal Service Mail Carrier
Wage /Hour
11.65
11.62
13.97
15.58
15.99
17.04
17.33
17.28
17.58
18.68
23.41
24.24
OFFICE JOBS
Educational Requirements
Bank Tellers
Receptionists
Office Clerks
Customer Service Representatives
Shipping, Receiving, and Traffic Clerks
Payroll Clerks
Postal Service Mail Carrier
Medical Secretaries
Police, Fire, and Ambulance Dispatchers
First-Line Supervisors of Office Workers
HS Diploma, Plus
Specialized Training, Or
Progressive Experience
AS Degree or
Certificate Program
SEMI-SKILLED
MANUFACTURING JOBS
How many hit our 40 year Target of $24.04?
PA Occupational Wages Survey January 2011 (South Central PA)
OCCUPATION
Electrical and Electronic Equipment Assemblers
Tool Grinders, Filers, and Sharpeners
Wood Sawing Machine Operators and Tenders
Packaging and Filling Machine Operators and Tenders
Furniture Finishers
Painting, Coating, and Spray Machine Workers
Assemblers and Fabricators
Printing Press Operators
Food Cooking Machine Operators and Tenders
Welders and Cutters
Drilling and Boring Machine Operators
Wage /Hour
13.86
14.01
14.36
14.99
15.07
16.02
16.95
18.08
18.53
19.55
18.19
SEMI-SKILLED JOBS
Educational Requirements
Painting, Coating, and Decorating Worker
Tool Grinders, Filers, and Sharpeners
Wood Sawing Machine Operators and Tenders
Furniture Finishers
Assemblers and Fabricators
Packaging and Filling Machine Operators and Tenders
Food Cooking Machine Operators and Tenders
Printing Machine Operators
Electrical and Electronic Equipment Assemblers
Welders and Cutters
Drilling and Boring Machine Operators
HS Diploma, Plus
On-The-Job Training
SKILLED MANUFACTURING JOBS
How many hit our 40 year Target of $24.04?
How about the 35 year target of 27.47?
PA Occupational Wages Survey January 2011 (South Central PA)
OCCUPATION
Water Treatment Plant and System Operators
Machinists
CNC Machine Tool Operators, Metal and Plastic
Stationary Engineers and Boiler Operators
Tool and Die Makers
Supervisors of Production Workers
Power Plant Operators
Power Distributors and Dispatchers
Nuclear Power Reactor Operators
Wage /Hour
20.56
21.13
21.18
21.28
22.38
27.12
29.85
31.47
38.69
SKILLED JOBS
Educational Requirements
Machinists
Tool and Die Makers
CNC Machine Tool Operators, Metal and Plastic
Water Treatment Plant and System Operators
Stationary Engineers and Boiler Operators
Power Plant Operators
Supervisors of Production Workers
Nuclear Power Reactor Operators
Power Distributors and Dispatchers
HS Diploma, Plus
Specialized Training, and
Progressive Experience
Or Trade School
AS Degree or
Certificate Program
AS Degree or
BS Degree or
Certificate Program
The Aging Workforce
The maintenance and precision machining worker
in manufacturing is considerably older today than
in 1980 and in 2000, and has aged steadily over
the past decade.
An estimated one-third of the Pennsylvania industrial
maintenance and precision machining workforce in
manufacturing is now (i.e., in 2010) over age 50 and
most will retire in the next 10 to 15 years.
Given total employment of 72,000 in the target
occupations within manufacturing and retirement
of a bit less than one-third of workers…
total openings to replace existing maintenance and
precision machining workers over the next 10 years
could approach 20,000.
Mechanical Repair Occupations
How many hit our 40 year Target of $24.04?
How about the 35 year target of 27.47?
PA Occupational Wages Survey January 2012 (South Central PA)
OCCUPATION
Wage /Hour
Electronic Home Entertainment Equipment Repairers
$15.33
Motorcycle Mechanics
16.07
Maintenance Workers, Machinery
20.20
Electrical and Electronics Repairers Transportation Equipment
20.75
Mobile Heavy Equipment Mechanics
22.40
Industrial Machinery Mechanics
22.71
Heating, Air Conditioning, and Refrigeration Mechanics
23.43
Telecommunications Line Installers and Repairers
24.59
First-Line Supervisors of Mechanics, Installers, and Repairers
29.75
Electrical Power-Line Installers and Repairers
31.03
MECHANICAL REPAIR JOBS
Educational Requirements
Motorcycle Mechanics
Electronic Home Entertainment Repairers
Maintenance Workers, Machinery
Mobile Heavy Equipment Mechanics
Electrical and Electronics Repairers Transportation
Equipment
Heating, Air Conditioning, and Refrigeration Mechanics
Industrial Machinery Mechanics
Telecommunications Line Installers and Repairers
First-Line Supervisors of Mechanics, Installers, and
Repairers
Electrical Power-Line Installers and Repairers
HS Diploma, Plus
Apprenticeship Training
Or Trade School
AS Degree/
Certificate Program
Plus
Apprenticeship Training
Industrial Maintenance
Occupations with No Current
Shortages
1. Electrical and electronic engineering technicians;
2. Electro-mechanical technicians (includes robotics
technicians)
3. Industrial engineering technicians
4. Mechanical engineering technicians
In these four occupations as a group, there are more than
four times as many people completing training that qualifies
them for the occupations as there are annual openings in the
occupations.
These training completers are often in Associates’ Degree
engineering technicians programs that may lead to whitecollar jobs off the factory floor or to further education (e.g., a
four-year degree).
High Demand/Low Supply
Industrial Maintenance
Occupations
1. Installers & repairers;
2. Electrical and electronics repairer,
3. Commercial and industrial equipment;
4. Industrial machinery mechanics;
5. Maintenance and repair workers,
6. Millwrights.
In these industrial maintenance occupations, which include
most of the shop floor jobs, there are only 26 training
completers for 1211 annual openings.
Technical Occupations
How many hit our 40 year Target of $24.04?
How about the 35 year target of 27.47?
PA Occupational Wages Survey January 2012 (South Central PA)
OCCUPATION
Mechanical Drafters
Civil Engineering Technicians
Wage /Hour
21.59
22.60
Electrical and Electronic Engineering Technicians
Architectural and Civil Drafters
Electrical and Electronics Drafters
22.97
23.56
23.88
Industrial Engineering Technicians
Aerospace Engineering and Operations Technicians
Mechanical Engineering Technicians
26.45
27.84
27.92
Nuclear Technicians
34.18
TECHNICAL JOBS
Educational Requirements
Mechanical Drafters
Civil Engineering Technicians
Electrical and Electronic Engineering Technicians
Architectural and Civil Drafters
Electrical and Electronics Drafters
Industrial Engineering Technicians
Mechanical Engineering Technicians
Aerospace Engineering and Operations Technicians
Nuclear Technicians
Associate Degree
in Technical Science
Plus Progressive OJT
For Example:
Start as Trainee
Progress to Level I
Then to Level II
Then to Level III
Etc…
How many hit our 40 year Target of $24.04?
How about the 35 year target of 27.47?
SALES OCCUPATIONS
PA Occupational Wages Survey January 2012 (South Central PA)
OCCUPATION
Insurance Sales Agents
Sales Representatives, Services
Sales Representatives, Wholesale and Manufacturing
Wage /Hour
30.92
31.24
31.65
Sales Representatives, Technical and Scientific Products 37.44
Sales Engineers
42.75
First-Line Supervisors/Managers of Non-Retail Sales Workers
44.98
Securities, Commodities, and Financial Services Sales Agents
50.28
SALES JOBS
Educational Requirements
Sales Representatives, Services
Sales Representatives, Wholesale and Manufacturing
Securities, Commodities, and Financial Services Sales Agents
Sales Representatives, Technical and Scientific Products
Insurance Sales Agents
Sales Engineers
BS Degree
Plus OJT In Product Knowledge
And in some cases specialized licensing
First-Line Supervisors of Non-Retail Sales Workers
…
How many hit our 40 year Target of $24.04?
How about the 35 year target of 27.47?
ENGINEERING OCCUPATIONS
PA Occupational Wages Survey January 2012 (South Central PA
OCCUPATION
Health and Safety Engineers
Mechanical Engineers
Environmental Engineers
Electrical Engineers
Materials Engineers
Industrial Engineers
Electronics Engineers
Civil Engineers
Computer Hardware Engineers
Architects
Aerospace Engineers
Biomedical Engineers
Chemical Engineers
Nuclear Engineers
Petroleum Engineers
Wage /Hour
$ 31.25
33.99
35.30
36.21
36.70
37.45
37.87
38.31
39.39
39.89
40.24
41.20
45.71
50.05
64.59
ENGINEERING OCCUPATIONS
Educational Requirements
Environmental Engineers
Electrical Engineers
Health and Safety Engineers
Biomedical Engineers
Industrial Engineers
Civil Engineers
Mechanical Engineers
Electronics Engineers
Chemical Engineers
Materials Engineers
Petroleum Engineers
Aerospace Engineers
Architects
Computer Hardware Engineers
Nuclear Engineers
Good Grades in HS
Advanced Level Math, Sciences
BS Degree
in Specialized
Engineering Discipline
If Target is:
$3 mil = $42/Hr
$4 mil = 55
$5 mil = 68
MANAGEMENT PROFESSIONS
PA Occupational Wages Survey January 2012 (South Central PA
OCCUPATION
Training and Development Managers
Industrial Production Managers
Financial Managers
Construction Managers
Transportation, Storage, and Distribution Managers
Advertising and Promotions Managers
Sales Managers
Purchasing Managers
Computer and Information Systems Managers
Marketing Managers
Compensation and Benefits Managers
Engineering Managers
Human Resources Managers
Chief Executives
Wage /Hour
$33.91
41.61
49.27
51.58
46.06
48.37
43.97
43.69
43.15
50.05
47.92
52.70
48.17
76.13
MANAGEMENT OCCUPATIONS
Educational Requirements
Training and Development Managers
Industrial Production Managers
Financial Managers
Construction Managers
Transportation, Storage, and Distribution Managers
Advertising and Promotions Managers
Sales Managers
Purchasing Managers
Computer and Information Systems Managers
Marketing Managers
Compensation and Benefits Managers
Engineering Managers
Human Resources Managers
Chief Executives
In Many Cases,
Masters Degree
Plus at least
5 to 10 years Progressive
Experience and
Demonstrated successful
application of
Knowledge
Skills, and Abilities
On-The-Job
…
HEALTHCARE OCCUPATIONS
How many hit our 40 year Target of $24.04?
How about the 35 year target of 27.47?
PA Occupational Wages Survey January 2012 (South Central PA)
OCCUPATION
Pharmacy Technicians
Licensed Practical and Licensed Vocational Nurses
Exercise Physiologists
Respiratory Therapists
Dental Hygienists
Diagnostic Medical Sonographers
Nuclear Medicine Technologists
Occupational Therapists
Physician Assistants
Physical Therapists
Radiation Therapists
Wage /Hour
$13.48
20.63
24.96
27.02
29.16
30.32
31.07
33.72
34.82
38.06
38.62
HEALTH CARE OCCUPATIONS
Educational Requirements
Licensed Practical Nurse
Occupational Therapist Assistant
Respiratory Therapy Technician
Respiratory Therapist
Dental Hygienist
Radiologic Technologists and Technician
Diagnostic Medical Sonographer
Nuclear Medicine Technologist
Registered Nurse
Occupational Therapist
Physical Therapist
Radiation Therapist
Good Grades in HS
Math, Sciences
Plus Certificate or AS Degree
in Specialized Discipline
And, in most cases
Pass Licensure Exam
MEDICAL PROFESSIONS
PA Occupational Wages Survey January 2012 (South Central PA)
OCCUPATION
Oral and Maxillofacial Surgeons
Surgeons
Orthodontists
Anesthesiologists
Family and General Practitioners
Pediatricians
Psychiatrists
Dentists, General
Pharmacists
Chiropractors
Optometrists
Veterinarians
If Target is:
$3 mil = $42/Hr
$4 mil = 55
$5 mil = 68
$6 mil = 82
$7 mil = 96
$8 mil = 110
Wage /Hour
$123.77
118.28
112.04
106.11
92.57
92.10
70.32
60.13
53.38
52.89
40.38
48.93
MEDICAL PROFESSIONS
Educational Requirements
Oral and Maxillofacial Surgeons
Orthodontist
Surgeon
Anesthesiologist
Family and General Practitioner
Pediatrician
Psychiatrist
Dentist
Pharmacist
Optometrist
Veterinarian
Chiropractor
Mostly A’s in College
A’s in Math & Sciences
Plus, Pre-Med School
Plus, Doctorate Degree
Plus, Highly Specialized Medical Training
And, Pass Medical Board Exam
And, Continuous successful application
of Knowledge Skills,
and Abilities On-The-Job
…
FOOD SERVICE
STARTING SALARIES
HIGH SCHOOL GRADUATE
Dishwasher
Dining Rooms Helper
Fast Food
$18,444 ($8.87/hr)
$18,922
$19,357 ($9.31/Hr)
Waiters /Waitress
$19,399
Cook
$21,494
to $28,154 (13.54/hr)
NACE Salary Survey Fall 2011
Discipline
Aerospace/Aeronautical/Astronautical Engineering
Average Salary
58,208
Number of Offers
347
Bioengineering & Biomedical Engineering
55,699
112
Biological Sciences/Life Sciences
50,493
440
Business Administration/Mgmt.
46,372
1,516
Chemical Engineering
66,058
703
Chemistry
41,001
84
Civil Engineering
52,058
544
Computer Engineering
62,849
291
Computer Science
66,084
710
Electrical/Electronics Engineering
60,411
608
Economics
53,690
605
English
40,162
193
History
40,788
136
Management Information Systems/Business Data Processing
52,403
326
Marketing/Marketing Mgmt.
42,923
848
Mathematics (incl. Statistics)
54,333
160
Mechanical Engineering
60,142
1,446
STARTING SALARIES
Selected Master's Degree Candidates
By curriculum for all types of employers
Business
Accounting
MBA-Nontechnical
1 year or less experience
Engineering & Computer Science
Civil Engineering
Yearly salary ranges in $
47,500 - 52,000
44,000 - 80,000
52,000 - 60,000
Electrical/Electronic
65,000 - 80,000
Mechanical Engineering
60,000 - 68,100
Computer Science
61,000 - 85,000
Source: NACE Salary Survey , Fall 2008 report. Data are starting salary offers reported to NACE
by colleges and universities nationwide.
SUPPLY & DEMAND
SHOULD YOU CONSIDER JOBS THAT ARE IN
DEMAND, NOT ONLY NOW, BUT WHEN YOU
GRADUATE?
CONSIDER PROJECTED CHANGES (+) 0R (-)
OCCUPATIONAL DEMAND 2016
York Area
(NEGATIVE CHANGE)
Industry Title
TOTAL NONFARM JOBS
Manufacturing
Elementary & Secondary Schools
Printing & Rel. Support Activities
Department Stores
Educational Services
Credit Intermediation & Rel. Activities
Federal Government
Depository Credit Intermediation
Employment*
2006
2016
187,740 194,490
36,100
10,110
2,870
1,810
12,270
2,360
4,140
1,930
33,970
9,630
2,440
1,500
11,980
2,090
3,870
1,700
Change
Annual
Level
Percent Change
6,750
3.60
675
-2,130
-480
-430
-310
-290
-270
-270
-230
-5.90
-4.75
-14.98
-17.13
-2.36
-11.44
-6.52
-11.92
-213
-48
-43
-31
-29
-27
-27
-23
OCCUPATIONAL DEMAND 2016
York Area
(POSITIVE CHANGE)
Industry Title
Services-Providing
Health Care & Social Assistance
Construction
Administrative & Waste Services
Transportation
Other Services, Except Public Admin.
Ambulatory Health Care Services
Employment*
2006
2016
126,000 134,190
20,160
24,200
11,450
11,780
8,050
9,040
7,130
8,200
7,610
7,880
5,940
7,460
Change
Annual
Level
Percent Change
8,190
6.50
819
4,040
20.04
404
330
2.88
33
990
12.30
99
1,070
15.01
107
270
3.55
27
1,520
25.59
152
WHAT DID WE LEARN?
Will more education & training help
us earn more money?
– SHOULD WE STAY IN SCHOOL?
– WHAT CAN YOU DO NOW TO PLAN FOR YOUR
FUTURE?
Manufacturers’ Association Of
South Central Pennsylvania
160 Roosevelt Avenue,
Suite 400, York, PA 17401
Phone (717) 843-389
Fax (717) 854-9445
www.mascpa.org