[sixtypoundhound]

If we reverse the clock back to their 30's, the underlying math of these career choices isn't so kind...

- The academic is completing their PHD program, with it's associated vow of poverty and about to start a multi-year tenure cagefight, in low-wage contract instructor roles. Only a small fraction will make it to full tenure; the rest will drop out to pursue industry jobs, 10+ years behind the engineers who went directly into industry.

- The young doctor FINALLY completed their training, with a truckload of debt. In the horizon, they see many sources of downward pressure on medical pay (rising power of insurance companies, malpractice liability, lower reimbursement rates due to Medicare and Obamacare, etc.). In 20 years, will Medicine be a $300K/year job or a $125K/year job? Oh...and a bunch of their peers already dropped out, loaded with debt.

- Meanwhile, the 30 year old MIT engineer has good odds of making six figures as a senior tech or technical lead. They are young enough to start a business and bounce back when things don't work out. Young enough to start a big family. If their spouse is also a middle class professional, they have a decent chance of saving $1MM by age 45 for a solid start on retirement. Making enough to pay down their debt early.

Yeah...the back end of the engineering career has a shelf life; you get your money up front. Using it wisely is up to you.

[imjk]

Agreed. Also, I think the article is more a reflection of the engineering landscape 30 years ago than a comparison of career choices that the author seems to be implying. I think it'd be foolish to make career choices based on the 30 year outcome of people in the previous generation.

[ghaff]

My understanding that law in particular has gone from being a pretty solid career path, especially for liberal arts majors who want some structure to get started in the workplace, to one that's relatively bleak for many who don't go to a Tier 1 school (or excel at a Tier 2), land a job of a big city firm, and either make partner or land a good corporate law job.

[kevin_thibedeau]

> Meanwhile, the 30 year old MIT engineer has good odds of making six figures as a senior tech or technical lead.

Only in the major urban areas of the left and right coasts. Other places you have to fight to make above 75K.

[Thriptic]

True, but it's still possible to save quite a lot of money on such a salary because the cost of living is much lower outside of major urban areas on the coasts. My friend who is a chem E in the midwest is taking home about 70K and has already saved 6 figures over 4-5 years because his burn rate is so low ($400 per month rent etc).

[stared]

Some jobs are flexible, when you are judged on your current impact, some other - have guild constraints, where it takes time and effort to get into... but also, even with waning skill, once you are entrenched, it's hard to get out.

IMHO the good thing for meritocracy is when there is no shift between skill and position. Eg in academia there is ~10-20 year shift.

[jedrek]

I know couples working retail in small town America who are 8 years into their $45000 mortgages vs my buddy who was paying 60k a year in rent in SF.