Are you better off now than you were 5 years ago?

[drago762]

I hear a lot of talk on how far the IT has fallen over the past 5 years. It seems that salaries are down, jobs are down, and thousands of new graduates are being thrown into an already oversaturated field.

Five year ago, I was working for a large corporation as a web programmer/help desk support (hired with ONLY 4 months experience and was 3 months from an Associate's degree in CIS) but was laid off last year. I am now working for a small company in a similar position. While I have obtained a Bachelor's degree in that time, I am making about the same amount of money as I was 5 years ago (in the mid 30 K range), and less benefits.

Seems to me that a B.S. degree now is worth as much as an A.S. five years ago and I'm thinking that certifications are necessary in order to get ahead. Or maybe it would be better to get training in something else to go along with my generalized IT skills (jack of all trades).

What about the rest of you? I'd like to see some personal examples on how you're faring now vs. 5 years ago. Do you regret your career choice? If you had to do it all over again, what would you have done?

 

[ecobb]

Excellent topic!

5 years ago I was flat broke, virtually homeless, and(sometimes) not too sure where my next meal was coming from! I was working in agriculture, traveling throughout the Midwest, living in a small travel trailer pulled behind a pickup truck. I worked from Texas to North Dakota, and lived in 11 cities in 9 months.

Around Thanksgiving of '99, I moved back back home to live with my parents, and In January of 2000 I took some night classes in web design. That summer I got my first IT job, starting at $9.50 an hour with NO experience. I progressed quickly at that company, doing everything from web design to database administration to tech support for our ISP. I got 2-3 raises per year, and stayed there for 3 years until I decided to move on to bigger and better things.

I'm not making six figures, but between my current job and my side business I'm over half way there. It seems that through all of the cutbacks and layoffs over the years, I always had some skill that was needed so I was always kept around. I never officially got any certifications (though I've been through several courses over the years), and my AA degree from many years ago is in Criminal Justice (Woo-Hoo!)

While I will agree that the IT Industry has fallen into a major slump lately, I guess I've been one of the lucky ones that's been able to keep moving forward. This industry has been great for me, and if I had it to do over again, I would have taken those classes a year earlier!




Hope This Helps!

Ecobb
Beer Consumption Analyst

"My work is a game, a very serious game." - M.C. Escher

 

[dyarwood]

5 years ago I was just about to start uni. No debt. Physically fit. Now I've not kept up the gym (to many beers and pies) and in debt thanks to uni. Do have a job though so thats good.

 

[jsteph]

5 years ago I was within clawing distance of 6 figures--figured I'd be well past that by now. The crash took my then-employer down quickly. I was one of the last 4 to leave (from over 100 when I started)--directly to another job, thankfully.

I felt like one of the Titanic survivors who was lucky enough to get a lifeboat, and watched sadly as others drowned, unable to do much of anything.

Though I'm making the same now, 5 years later, I have no regrets or complaints because I'm securely employed in a highly stable company.

I tend to look at the glass as being half full, partly because of seeing the reality of those I was close to go through the trauma of trying to feed a family while unemployed.
--J

 

[SQLSister]

I make a more money than 5 years ago, but not much more than 4.5 years ago when I got a 60% pay increase by moving to a different company.

However, that money doesn't stretch nearly as far. My groceries cost at least 50% more and gas is way up. (If I still drove the truck with the 30 gallon tank and 17 mi to the gallon, I'd have to get a second job.) Health insurance is up and my federal taxes didn't seem to get the tax cut that we supposedly got, and state and local taxes are up too. I had to sell my horse because board and vet bill increases were just more than I could handle. At least my house is paid for.

Questions about posting. See faq183-874

 

[dkediger]

Although 5 years ago is a real point in time, I'm not sure its necessarily a realistic point of reference - particularly in this sector.

The conditions in the late 90's were a time, compared to other economic periods, were simply unprecedented in prior economic history. Not to impune anyone here, but in the tech sector you basically could fall out of bed into a job. It was much the same in other sectors. Most of this was driven by the convergence of the disruptive technologies of truly cheap and productive desktop computers/LANs and then connections to the internet. Basically a time of feeling "something new in the air, but not sure what," and everyone wanting to be a part of it. Greenspan's "Irrational Exuberance" quote may be one of the most understated in history.

As for myself - I and my family are better off than 5 years ago. Not wildly better if you measure by the standards of 1999. But then, if you measure by the standards of 1994 or 1989, when I was entering the workforce I am significantly better off and satisifed comparing where I am to where I thought I would be.

 

[kHz]

In 1999, I accepted a job that increased my salary 150%. Got a couple of large salary increases of a few thousand dollars. Bonuses of a few thousand dollars. Then in 2003 they cut salaries for certain positions to what I was making there 2 years before. Then I was laid off. But I found a job in a month, but was making about 20% less than my previous job after the salary cut. Get a bonus each year now at half of what I used to get, but is still nice. Got a raise and now am just a couple thousand short of what I was making in May 2000.

But I am not complaining. Would I like to make more. Yes. Who doesn't? But I still make more than most people. My discretionary income each month is more than my best friend and his wife gross each month.

Merry Christmas!

 

[Dollie]

I'm still living paycheck to paycheck (funny how your bills go up as your pay does), BUT... I can afford a rented house instead of apartment, I was able to purchase not one but two new vehicles instead of a used wreck, I can actually buy new clothes occasionally and don't have to buy generic hair products.

I know I'm better off because I'm now in a job where I don't worry about being laid off or shut down, I just love my employer and the people I work with, and find myself growing as the company grows. Five years ago I was looking at being stuck in an admin job that did everything from payroll and taxes to computer maintenance. Now I have the luxury of choosing what direction I want to go in, and have the employer of choice, not necessity.

Now to go find that SQL crash course so I can handle the upgrade I installed this morning....

 

[chiph]

I always feel that I could be doing better, but on the whole, I'm not doing too badly. My 401(k) is fully funded, I've got some money in savings, no credit-card debt, and only 5 payments left on the car (a nice feeling). There's a good chance that the house will be appreciating in value in about 2 years -- there's a shopping center being built nearby, so things are messy at the moment, but once they're done I'll will be able to walk to shop.

I have an opportunity to learn J2EE at work (not sure I really want to, but it's always good to have something like that on the resume). I'm working some insane hours at the moment, but it's just crunch time before a big release. I have plans to start a side-business, just need to find the time.

Chip H.


____________________________________________________________________
If you want to get the best response to a question, please read FAQ222-2244 first

 

[Guyute97]

I have to say that I am much better off. 5 years ago I was working for a very small software company making less than a third of what I am making now. In the next 1-1.5 years I should break 6 figures if all keeps going well (we know how fast that can change).

I found the people that I know that were with a company and stayed there during the crash did a lot better than the ones that jumped from start up to start up for more money. Now if they have a job it is at a much lower salary while the ones that hung in there still have a job and the raises that have ocurred.

--Guyute

 

[philote]

I'm definitely better off, but still not quite where I thought I'd be. In 1999 I was still going for my degree and working part time while incurring massive debt via student loans. Now I'm married with a kid, have my own house (finally no more renting!), and have health insurance. I'm making much less than I thought I'd be but I feel very fortunate to have a job that pays even this much. Plus my current employer has sent me to several training classes and I have a nice variety of work to keep my interest.

What I still find astounding is that a college classmate of mine who graduated a semester or two before me got a job straight out of school making $50k. When I graduated I couldn't even find a job for months and when I did I was making $25k.

 

[Onyxpurr]

In 1999, things were much different. I was going to school and one of my professors warned about the Y2K syndrome. Companies were hiring programmers like crazy at great pay, but she warned us that it would only last until the Y2K craze was over and then those programmers would be looking for new jobs.

That said, I'm doing much better than in 1999. I now own a house and a fairly new vehicle. I am able to pay my bills on time.

I just recently accepted a job offer for a lot more than I'm making now. And I finally have decided that I want to settle into the position of Business Analyst. Maybe become manager someday.

 

[Dollie]

<applause>
Sometimes the media makes things sound worse than they actually are. Congrats to those who have made it through the last five years relatively unmangled!!
</applause>

 

[vstewart7206]

I am currently entering the longest period of unemployment I have ever had (about four months). My investments basically tanked, and I have wasted about $5,000 on various therapies and other self-help garbage.

I know that I will be accused of having a "bad attitude." Five years ago, I had a fantastic attitude.

I am currently in a new city (Austin, Texas) and am pretty happy to be here. The move is the reason for my lack of a job, as I voluntarily quit. My biggest regret is that I didn't move here sooner.

I still feel like everything is going to work out, like someone eventually is going to notice that I have a lot to offer. But that still hasn't happened.

My dues are vastly overpaid. I'm not sure if or when I still start getting out of what I have put into it. When I do, I will be happy that I am here.

At the same time, I regret more that I didn't get in during the early 90's. But if I am offered something worthwhile in another area, I would probably take it.

 

[jrbarnett]

Five years ago I was working in a small software house in East London, UK, having graduated a few months prior to that doing support and development work.

In the intervening period, had 3 different jobs, been made redundant 3 times, including one spell of just under 2 years. Currently working in a local authority in the UK in IT support role earning approx £3.5K less than I did 5 years ago (I'm UK based).
Am I better off? In monetary terms, no, in terms of job stability and training prospects, far more so.

John

 

[vstewart7206]

The recurring theme seems to be is that some of you found good employers, and some of you didn't. This means that the key to success is finding good employer.

If you have a good employer, they will care if you work hard. If you have a bad one, they won't care.

 

[lespaul]

5 years ago I was just finishing my degree. I kept working in the accounting office where I had worked while in school, then got a junior programmer position at a dot com (actually still in business, but slowly dying), worked there about 15 months and was laid off 3 weeks before September 11, 2001.

Spent the next 3 months convinced I was never going to find a job, was going to lose the house and things were going to be really BAD! Started my job on 12/26/2001 - that was our Christmas present that year!! I'm still at the same job - have gotten a few small wage increases (state government) have great retirement benefits and will probably stay here until I do retire. A defined benefit plan is almost impossible to find in the private world these days. I'm grossing a little more than $45K, medical, dental & vision, life and disability, just enrolled in deferred comp earlier this year and next year will be contributing to a medical Flexible Spending Account. After all those deductions and taxes, I'm bringing home about 30K. With my husband's part-time and other income, we're doing pretty good these days!



Leslie

 

[wmichael]

I was one of the ones who, 5 years ago, fell out of bed and into a decent job. Because the times put such a demand on folks who at least appeared skilled, and who would work like dogs on their salaries, I was fairly fortunate to have both a good job and the opportunity to gain a better technical education.

Now, after starting out as the guy who installs Word, I have landed a job as an IT director for a good-sized private company. Along the way I have been laid off and outsourced; in one instance, I moved along before either of the two happened.

No worries about lay-offs. We'll likely not be outsourcing our functions, and no frantic BS.

Y2K really made the economy seem wierd. All the frantic software and hardware spending had to end, and now the dust is finally settling. What will be next, I wonder?

~wmichael

"small change can often be found under seat cushions

 

[langleymass]

Indeed, the Year 2000 issue created a major artificial boom. In 2000, we basically had four crashes:

1. Year 2000 scare was over.
2. Jobs started going overseas on a large scale.
3. The economy started to slip.
4. Stocks peaked in March or April of that year.

It really was a "perfect storm.

 

[kHz]

2. Jobs started going overseas on a large scale.

I wish people would stop using that media-created argument. The number of jobs being sent to India, etc., are a very small number. There is not a 10% or 25% of all jobs are going overseas. Read this article

http://www.ncpa.org/abo/cd/040504fear.htm

from the National Center for Policy Analysis. Here is another article

http://www.heritage.org/Research/TradeandForeignAid/wm467.cfm

from the Heritage Foundation on the subject.

the Year 2000 issue created a major artificial boom.

I would like to see economic data that proves the spending on Y2K created the huge economic growth. The reason is because the economic expansion started in the early 90's and the bull was charging full-speed ahead and all the paper profits were already being made.

Greenspan was warning about the false hopes of paper businesses (read .com) vs. traditional brick-and-mortar companies.