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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 =              2,000,000
                72,800                     72,800


“X” =
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)         15.28%
2. State                          3.07%
3. Local                          1.00%
4.   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          United States


Per Capita          $27,196           $27,049           $27,334
Income            $13.08/hour

Median              $57,494           $50,398           $51,914
Household         $27.64/hour
Income
Source: U.S. Census Bureau
http://quickfacts.census.gov/qfd/states/42/42133.html
FOOD SERVICE JOBS                                      How many hit our 40 year Target of $24.04?
   PA Occupational Wages Survey January 2012 (South Central PA)   How about the 35 year target of 27.47?



              OCCUPATION                                                              Wage /Hour
Counter Attendants, Food and Coffee Shop                                               $ 8.74
Dishwashers                                                                              8.87
Waiters and Waitresses                                                                   9.10
Hosts and Hostesses, Restaurant, Lounge, and Coffee Shop                                 9.26
Dining Rooms and Bartender Helpers                                                       9.33
Food Preparation and Serving Workers, Fast Food                                          9.75
Bartenders                                                                             10.00
Cooks, Fast Food                                                                       10.33
Cooks, Short Order                                                                     11.30
Cooks, Restaurant                                                                      12.10
First-Line Supervisors of Food Preparation Workers                                     16.48
Chefs and Head Cooks                                                                   16.67
FOOD SERVICE JOBS
   Educational Requirements
Counter Attendants
Dining Rooms Helpers
Waiters and Waitresses
Dishwashers
Cooks, Fast Food                 HS Diploma
Bartenders
Food Preparation Workers
Hosts and Hostesses
Cooks



                                      AS Degree or
                                   Certificate Program
First-Line Supervisors of Food      AND Experience
Preparation Workers
Chefs and Head Cooks
How many hit our 40 year Target of $24.04?
       OFFICE WORKER JOBS                                       How about the 35 year target of 27.47?
 PA Occupational Wages Survey January 2012 (South Central PA)


                   OCCUPATION                                                          Wage /Hour
Bank Tellers                                                                             11.65
Receptionists                                                                            11.62
Office Clerks                                                                            13.97
Medical Secretaries                                                                      15.58
Customer Service Representatives                                                         15.99
Shipping, Receiving, and Traffic Clerks                                                  17.04
Bookkeeping /Accounting Clerical                                                         17.33
Payroll Clerks                                                                           17.28
Postal Service Clerks                                                                    17.58
Police, Fire, and Ambulance Dispatchers                                                  18.68
First-Line Supervisors of Office Workers                                                 23.41
Postal Service Mail Carrier                                                              24.24
OFFICE JOBS
            Educational Requirements
Bank Tellers
Receptionists
Office Clerks
Customer Service Representatives                 HS Diploma, Plus
Shipping, Receiving, and Traffic Clerks    Specialized Training, Or
                                           Progressive Experience
Payroll Clerks
Postal Service Mail Carrier




Medical Secretaries
Police, Fire, and Ambulance Dispatchers            AS Degree or
First-Line Supervisors of Office Workers        Certificate Program
SEMI-SKILLED                                              How many hit our 40 year Target of $24.04?


       MANUFACTURING JOBS
     PA Occupational Wages Survey January 2011 (South Central PA)


               OCCUPATION                           Wage /Hour
Electrical and Electronic Equipment Assemblers       13.86
Tool Grinders, Filers, and Sharpeners                14.01
Wood Sawing Machine Operators and Tenders            14.36
Packaging and Filling Machine Operators and Tenders  14.99
Furniture Finishers                                  15.07
Painting, Coating, and Spray Machine Workers         16.02
Assemblers and Fabricators                           16.95
Printing Press Operators                             18.08
Food Cooking Machine Operators and Tenders           18.53
Welders and Cutters                                  19.55
Drilling and Boring Machine Operators                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
                                                        HS Diploma, Plus
Packaging and Filling Machine Operators and Tenders   On-The-Job Training
Food Cooking Machine Operators and Tenders
Printing Machine Operators

Electrical and Electronic Equipment Assemblers
Welders and Cutters
Drilling and Boring Machine Operators
How many hit our 40 year Target of $24.04?
SKILLED MANUFACTURING JOBS                                      How about the 35 year target of 27.47?
 PA Occupational Wages Survey January 2011 (South Central PA)



              OCCUPATION                                                              Wage /Hour
Water Treatment Plant and System Operators                                              20.56
Machinists                                                                              21.13
CNC Machine Tool Operators, Metal and Plastic                                           21.18
Stationary Engineers and Boiler Operators                                               21.28
Tool and Die Makers                                                                     22.38
Supervisors of Production Workers                                                       27.12
Power Plant Operators                                                                   29.85
Power Distributors and Dispatchers                                                      31.47
Nuclear Power Reactor Operators                                                         38.69
SKILLED JOBS
             Educational Requirements

Machinists                                              HS Diploma, Plus
Tool and Die Makers                             Specialized Training, and
CNC Machine Tool Operators, Metal and Plastic    Progressive Experience
                                                         Or Trade School
Water Treatment Plant and System Operators                  AS Degree or
Stationary Engineers and Boiler Operators             Certificate Program
Power Plant Operators




Supervisors of Production Workers                   AS Degree or
                                                    BS Degree or
Nuclear Power Reactor Operators
                                                 Certificate Program
Power Distributors and Dispatchers
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.
How many hit our 40 year Target of $24.04?
                                                               How about the 35 year target of 27.47?
Mechanical Repair Occupations
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                                                     HS Diploma, Plus
Heating, Air Conditioning, and Refrigeration Mechanics   Apprenticeship Training

Industrial Machinery Mechanics                                 Or Trade School
                                                                     AS Degree/
Telecommunications Line Installers and Repairers
                                                             Certificate Program
                                                                            Plus
First-Line Supervisors of Mechanics, Installers, and     Apprenticeship Training
Repairers
Electrical Power-Line Installers and Repairers
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 white-
collar 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.
How many hit our 40 year Target of $24.04?
                                                                    How about the 35 year target of 27.47?
             Technical Occupations
     PA Occupational Wages Survey January 2012 (South Central PA)



               OCCUPATION                                                            Wage /Hour
Mechanical Drafters                                                                     21.59
Civil Engineering Technicians                                                           22.60

Electrical and Electronic Engineering Technicians                                           22.97
Architectural and Civil Drafters                                                            23.56
Electrical and Electronics Drafters                                                         23.88

Industrial Engineering Technicians                                                          26.45
Aerospace Engineering and Operations Technicians                                            27.84
Mechanical Engineering Technicians                                                          27.92

Nuclear Technicians                                                                         34.18
TECHNICAL JOBS
            Educational Requirements

Mechanical Drafters
Civil Engineering Technicians                           Associate Degree
                                                    in Technical Science
Electrical and Electronic Engineering Technicians
                                                    Plus Progressive OJT
Architectural and Civil Drafters                      For Example:
Electrical and Electronics Drafters                   Start as Trainee
                                                      Progress to Level I
Industrial Engineering Technicians                        Then to Level II
Mechanical Engineering Technicians                        Then to Level III
Aerospace Engineering and Operations Technicians                     Etc…

Nuclear Technicians
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                                                              Wage /Hour
Insurance Sales Agents                                                                 30.92
Sales Representatives, Services
   31.24
Sales Representatives, Wholesale and Manufacturing                                       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

                                                                                    BS Degr
Sales Engineers                                                 Plus OJT In Product Knowled
                                                        And in some cases specialized licensin
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                                                        Wage /Hour
Health and Safety Engineers                                                        $ 31.25
Mechanical Engineers                                                                33.99
Environmental Engineers                                                             35.30
Electrical Engineers                                                                36.21
Materials Engineers                                                                 36.70
Industrial Engineers                                                                37.45
Electronics Engineers                                                               37.87
Civil Engineers                                                                     38.31
Computer Hardware Engineers                                                         39.39
Architects                                                                          39.89
         Aerospace Engineers                                                 40.24
         Biomedical Engineers                                                41.20
         Chemical Engineers                                                  45.71
         Nuclear Engineers                                                   50.05
         Petroleum Engineers                                                 64.59
ENGINEERING OCCUPATIONS
       Educational Requirements
Environmental Engineers
Electrical Engineers
Health and Safety Engineers
Biomedical Engineers                    Good Grades in HS
Industrial Engineers          Advanced Level Math, Sciences
Civil Engineers                                  BS Degree
Mechanical Engineers                         in Specialized
                                     Engineering Discipline
Electronics Engineers
Chemical Engineers
Materials Engineers
Petroleum Engineers
Aerospace Engineers
Architects
Computer Hardware Engineers
Nuclear Engineers
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                                               Wage /Hour
Training and Development Managers                                        $33.91
Industrial Production Managers                                            41.61
Financial Managers                                                        49.27
Construction Managers                                                     51.58
Transportation, Storage, and Distribution Managers                        46.06
Advertising and Promotions Managers                                       48.37
Sales Managers                                                            43.97
Purchasing Managers                                                       43.69
Computer and Information Systems Managers                                 43.15
Marketing Managers                                                        50.05
Compensation and Benefits Managers                                        47.92
Engineering Managers                                                      52.70
                Human Resources Managers                                  48.17
                Chief Executives                                          76.13
MANAGEMENT OCCUPATIONS
       Educational Requirements
Training and Development Managers
Industrial Production Managers
Financial Managers
                                                                In Many Cases,
Construction Managers                                           Masters Degree
Transportation, Storage, and Distribution Managers                  Plus at least
Advertising and Promotions Managers                   5 to 10 years Progressive
Sales Managers                                                   Experience and
                                                     Demonstrated successful
Purchasing Managers
                                                                  application of
Computer and Information Systems Managers                            Knowledge
Marketing Managers                                          Skills, and Abilities
Compensation and Benefits Managers                                   On-The-Job
Engineering Managers
                                                                              …
Human Resources Managers
Chief Executives
How many hit our 40 year Target of $24.04?
                                                                  How about the 35 year target of 27.47?
    HEALTHCARE OCCUPATIONS
   PA Occupational Wages Survey January 2012 (South Central PA)



              OCCUPATION                                                                Wage /Hour
Pharmacy Technicians                                                                     $13.48
Licensed Practical and Licensed Vocational Nurses                                         20.63
Exercise Physiologists                                                                    24.96
Respiratory Therapists                                                                    27.02
Dental Hygienists                                                                         29.16
Diagnostic Medical Sonographers                                                           30.32
Nuclear Medicine Technologists                                                            31.07
Occupational Therapists
   33.72
Physician Assistants                                                                        34.82
Physical Therapists                                                                         38.06
Radiation Therapists                                                                        38.62
HEALTH CARE OCCUPATIONS
        Educational Requirements

Licensed Practical Nurse
Occupational Therapist Assistant
Respiratory Therapy Technician
Respiratory Therapist
                                                   Good Grades in HS
Dental Hygienist                                      Math, Sciences
Radiologic Technologists and Technician
Diagnostic Medical Sonographer            Plus Certificate or AS Degree
Nuclear Medicine Technologist                  in Specialized Discipline
                                                     And, in most cases
Registered Nurse
                                                  Pass Licensure Exam
Occupational Therapist
Physical Therapist
Radiation Therapist
If Target is:
                                                                             $3 mil = $42/Hr
                                                                             $4 mil = 55

               MEDICAL PROFESSIONS                                           $5 mil = 68
                                                                             $6 mil = 82
          PA Occupational Wages Survey January 2012 (South Central PA)       $7 mil = 96
                                                                            $8 mil = 110



              OCCUPATION                                                 Wage /Hour
Oral and Maxillofacial Surgeons                                           $123.77
Surgeons                                                                   118.28
Orthodontists                                                              112.04
Anesthesiologists                                                          106.11
Family and General Practitioners                                            92.57
Pediatricians                                                               92.10
Psychiatrists                                                               70.32
Dentists, General                                                           60.13
Pharmacists                                                                 53.38
Chiropractors                                                               52.89
Optometrists                                                                40.38
Veterinarians                                                               48.93
MEDICAL PROFESSIONS
         Educational Requirements
Oral and Maxillofacial Surgeons
Orthodontist
Surgeon
                                                     Mostly A’s in College
Anesthesiologist                                    A’s in Math & Sciences
Family and General Practitioner                      Plus, Pre-Med School
Pediatrician                                        Plus, Doctorate Degree
Psychiatrist                      Plus, Highly Specialized Medical Training
                                            And, Pass Medical Board Exam
Dentist
                                  And, Continuous successful application
Pharmacist                                            of Knowledge Skills,
Optometrist                                       and Abilities On-The-Job
Veterinarian
Chiropractor                                                            …
FOOD SERVICE
          STARTING SALARIES
        HIGH SCHOOL GRADUATE
Dishwasher            $18,444 ($8.87/hr)
Dining Rooms Helper   $18,922
Fast Food                  $19,357
($9.31/Hr)

Waiters /Waitress     $19,399

Cook                  $21,494
                      to $28,154 (13.54/hr)
NACE Salary Survey Fall 2011
 Discipline                                                   Average Salary   Number of Offers
Aerospace/Aeronautical/Astronautical Engineering             58,208            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                Yearly salary ranges in $
                   Business
                   Accounting                                     47,500 - 52,000
                   MBA-Nontechnical
                      1 year or less experience                   44,000 - 80,000

       Engineering & Computer Science
                  Civil Engineering                               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)

                                                     Employment*           Change       Annual
                 Industry Title                     2006    2016       Level   Percent Change
TOTAL NONFARM JOBS                                  187,740 194,490      6,750     3.60     675

Manufacturing                                       36,100    33,970    -2,130    -5.90    -213
Elementary & Secondary Schools                      10,110     9,630      -480    -4.75     -48
Printing & Rel. Support Activities                   2,870     2,440      -430   -14.98     -43
Department Stores                                    1,810     1,500      -310   -17.13     -31
Educational Services                                12,270    11,980      -290    -2.36     -29
Credit Intermediation & Rel. Activities              2,360     2,090      -270   -11.44     -27
Federal Government                                   4,140     3,870      -270    -6.52     -27
Depository Credit Intermediation                     1,930     1,700      -230   -11.92     -23
OCCUPATIONAL DEMAND 2016
                 York Area
                                       (POSITIVE CHANGE)
                                                     Employment*          Change       Annual
                     Industry Title                 2006    2016      Level   Percent Change
Services-Providing                                  126,000 134,190     8,190     6.50     819
Health Care & Social Assistance                      20,160  24,200     4,040    20.04     404
Construction                                         11,450  11,780       330     2.88      33
Administrative & Waste Services                       8,050   9,040       990    12.30      99
Transportation                                        7,130   8,200     1,070    15.01     107
Other Services, Except Public Admin.                  7,610   7,880       270     3.55      27
Ambulatory Health Care Services                       5,940   7,460     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

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How To Make a Million Dollars_2012

  • 1. HOW TO MAKE IT BIG…. EARN A MILLION DOLLARS ++ + IN SOUTH CENTRAL PA
  • 2. Now That I Have Your Attention…… LET’S GET STARTED !
  • 3. 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? ?
  • 4. 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? ?
  • 5. 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? ?
  • 6. 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
  • 7. 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…
  • 8. 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.
  • 9. 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 = 2,000,000 72,800 72,800 “X” =
  • 10. 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.
  • 11. 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?
  • 12. 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.
  • 13. 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.]
  • 14. OH, YEA, TAXES!!!!! 1. Federal (single rate) 15.28% 2. State 3.07% 3. Local 1.00% 4. 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
  • 15. 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!
  • 16. Can you earn a good income in South Central PA? Income (2011) York County Pennsylvania United States Per Capita $27,196 $27,049 $27,334 Income $13.08/hour Median $57,494 $50,398 $51,914 Household $27.64/hour Income Source: U.S. Census Bureau http://quickfacts.census.gov/qfd/states/42/42133.html
  • 17. FOOD SERVICE JOBS How many hit our 40 year Target of $24.04? PA Occupational Wages Survey January 2012 (South Central PA) How about the 35 year target of 27.47? OCCUPATION Wage /Hour Counter Attendants, Food and Coffee Shop $ 8.74 Dishwashers 8.87 Waiters and Waitresses 9.10 Hosts and Hostesses, Restaurant, Lounge, and Coffee Shop 9.26 Dining Rooms and Bartender Helpers 9.33 Food Preparation and Serving Workers, Fast Food 9.75 Bartenders 10.00 Cooks, Fast Food 10.33 Cooks, Short Order 11.30 Cooks, Restaurant 12.10 First-Line Supervisors of Food Preparation Workers 16.48 Chefs and Head Cooks 16.67
  • 18. FOOD SERVICE JOBS Educational Requirements Counter Attendants Dining Rooms Helpers Waiters and Waitresses Dishwashers Cooks, Fast Food HS Diploma Bartenders Food Preparation Workers Hosts and Hostesses Cooks AS Degree or Certificate Program First-Line Supervisors of Food AND Experience Preparation Workers Chefs and Head Cooks
  • 19. How many hit our 40 year Target of $24.04? OFFICE WORKER JOBS How about the 35 year target of 27.47? PA Occupational Wages Survey January 2012 (South Central PA) OCCUPATION Wage /Hour Bank Tellers 11.65 Receptionists 11.62 Office Clerks 13.97 Medical Secretaries 15.58 Customer Service Representatives 15.99 Shipping, Receiving, and Traffic Clerks 17.04 Bookkeeping /Accounting Clerical 17.33 Payroll Clerks 17.28 Postal Service Clerks 17.58 Police, Fire, and Ambulance Dispatchers 18.68 First-Line Supervisors of Office Workers 23.41 Postal Service Mail Carrier 24.24
  • 20. OFFICE JOBS Educational Requirements Bank Tellers Receptionists Office Clerks Customer Service Representatives HS Diploma, Plus Shipping, Receiving, and Traffic Clerks Specialized Training, Or Progressive Experience Payroll Clerks Postal Service Mail Carrier Medical Secretaries Police, Fire, and Ambulance Dispatchers AS Degree or First-Line Supervisors of Office Workers Certificate Program
  • 21. SEMI-SKILLED How many hit our 40 year Target of $24.04? MANUFACTURING JOBS PA Occupational Wages Survey January 2011 (South Central PA) OCCUPATION Wage /Hour Electrical and Electronic Equipment Assemblers 13.86 Tool Grinders, Filers, and Sharpeners 14.01 Wood Sawing Machine Operators and Tenders 14.36 Packaging and Filling Machine Operators and Tenders 14.99 Furniture Finishers 15.07 Painting, Coating, and Spray Machine Workers 16.02 Assemblers and Fabricators 16.95 Printing Press Operators 18.08 Food Cooking Machine Operators and Tenders 18.53 Welders and Cutters 19.55 Drilling and Boring Machine Operators 18.19
  • 22. 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 HS Diploma, Plus Packaging and Filling Machine Operators and Tenders On-The-Job Training Food Cooking Machine Operators and Tenders Printing Machine Operators Electrical and Electronic Equipment Assemblers Welders and Cutters Drilling and Boring Machine Operators
  • 23. How many hit our 40 year Target of $24.04? SKILLED MANUFACTURING JOBS How about the 35 year target of 27.47? PA Occupational Wages Survey January 2011 (South Central PA) OCCUPATION Wage /Hour Water Treatment Plant and System Operators 20.56 Machinists 21.13 CNC Machine Tool Operators, Metal and Plastic 21.18 Stationary Engineers and Boiler Operators 21.28 Tool and Die Makers 22.38 Supervisors of Production Workers 27.12 Power Plant Operators 29.85 Power Distributors and Dispatchers 31.47 Nuclear Power Reactor Operators 38.69
  • 24. SKILLED JOBS Educational Requirements Machinists HS Diploma, Plus Tool and Die Makers Specialized Training, and CNC Machine Tool Operators, Metal and Plastic Progressive Experience Or Trade School Water Treatment Plant and System Operators AS Degree or Stationary Engineers and Boiler Operators Certificate Program Power Plant Operators Supervisors of Production Workers AS Degree or BS Degree or Nuclear Power Reactor Operators Certificate Program Power Distributors and Dispatchers
  • 25. 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.
  • 26. How many hit our 40 year Target of $24.04? How about the 35 year target of 27.47? Mechanical Repair Occupations 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
  • 27. MECHANICAL REPAIR JOBS Educational Requirements Motorcycle Mechanics Electronic Home Entertainment Repairers Maintenance Workers, Machinery Mobile Heavy Equipment Mechanics Electrical and Electronics Repairers Transportation Equipment HS Diploma, Plus Heating, Air Conditioning, and Refrigeration Mechanics Apprenticeship Training Industrial Machinery Mechanics Or Trade School AS Degree/ Telecommunications Line Installers and Repairers Certificate Program Plus First-Line Supervisors of Mechanics, Installers, and Apprenticeship Training Repairers Electrical Power-Line Installers and Repairers
  • 28. 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 white- collar jobs off the factory floor or to further education (e.g., a four-year degree).
  • 29. 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.
  • 30. How many hit our 40 year Target of $24.04? How about the 35 year target of 27.47? Technical Occupations PA Occupational Wages Survey January 2012 (South Central PA) OCCUPATION Wage /Hour Mechanical Drafters 21.59 Civil Engineering Technicians 22.60 Electrical and Electronic Engineering Technicians 22.97 Architectural and Civil Drafters 23.56 Electrical and Electronics Drafters 23.88 Industrial Engineering Technicians 26.45 Aerospace Engineering and Operations Technicians 27.84 Mechanical Engineering Technicians 27.92 Nuclear Technicians 34.18
  • 31. TECHNICAL JOBS Educational Requirements Mechanical Drafters Civil Engineering Technicians Associate Degree in Technical Science Electrical and Electronic Engineering Technicians Plus Progressive OJT Architectural and Civil Drafters For Example: Electrical and Electronics Drafters Start as Trainee Progress to Level I Industrial Engineering Technicians Then to Level II Mechanical Engineering Technicians Then to Level III Aerospace Engineering and Operations Technicians Etc… Nuclear Technicians
  • 32. 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 Wage /Hour Insurance Sales Agents 30.92 Sales Representatives, Services 31.24 Sales Representatives, Wholesale and Manufacturing 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
  • 33. 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 BS Degr Sales Engineers Plus OJT In Product Knowled And in some cases specialized licensin First-Line Supervisors of Non-Retail Sales Workers
  • 34. 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 Wage /Hour Health and Safety Engineers $ 31.25 Mechanical Engineers 33.99 Environmental Engineers 35.30 Electrical Engineers 36.21 Materials Engineers 36.70 Industrial Engineers 37.45 Electronics Engineers 37.87 Civil Engineers 38.31 Computer Hardware Engineers 39.39 Architects 39.89 Aerospace Engineers 40.24 Biomedical Engineers 41.20 Chemical Engineers 45.71 Nuclear Engineers 50.05 Petroleum Engineers 64.59
  • 35. ENGINEERING OCCUPATIONS Educational Requirements Environmental Engineers Electrical Engineers Health and Safety Engineers Biomedical Engineers Good Grades in HS Industrial Engineers Advanced Level Math, Sciences Civil Engineers BS Degree Mechanical Engineers in Specialized Engineering Discipline Electronics Engineers Chemical Engineers Materials Engineers Petroleum Engineers Aerospace Engineers Architects Computer Hardware Engineers Nuclear Engineers
  • 36. 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 Wage /Hour Training and Development Managers $33.91 Industrial Production Managers 41.61 Financial Managers 49.27 Construction Managers 51.58 Transportation, Storage, and Distribution Managers 46.06 Advertising and Promotions Managers 48.37 Sales Managers 43.97 Purchasing Managers 43.69 Computer and Information Systems Managers 43.15 Marketing Managers 50.05 Compensation and Benefits Managers 47.92 Engineering Managers 52.70 Human Resources Managers 48.17 Chief Executives 76.13
  • 37. MANAGEMENT OCCUPATIONS Educational Requirements Training and Development Managers Industrial Production Managers Financial Managers In Many Cases, Construction Managers Masters Degree Transportation, Storage, and Distribution Managers Plus at least Advertising and Promotions Managers 5 to 10 years Progressive Sales Managers Experience and Demonstrated successful Purchasing Managers application of Computer and Information Systems Managers Knowledge Marketing Managers Skills, and Abilities Compensation and Benefits Managers On-The-Job Engineering Managers … Human Resources Managers Chief Executives
  • 38. How many hit our 40 year Target of $24.04? How about the 35 year target of 27.47? HEALTHCARE OCCUPATIONS PA Occupational Wages Survey January 2012 (South Central PA) OCCUPATION Wage /Hour Pharmacy Technicians $13.48 Licensed Practical and Licensed Vocational Nurses 20.63 Exercise Physiologists 24.96 Respiratory Therapists 27.02 Dental Hygienists 29.16 Diagnostic Medical Sonographers 30.32 Nuclear Medicine Technologists 31.07 Occupational Therapists 33.72 Physician Assistants 34.82 Physical Therapists 38.06 Radiation Therapists 38.62
  • 39. HEALTH CARE OCCUPATIONS Educational Requirements Licensed Practical Nurse Occupational Therapist Assistant Respiratory Therapy Technician Respiratory Therapist Good Grades in HS Dental Hygienist Math, Sciences Radiologic Technologists and Technician Diagnostic Medical Sonographer Plus Certificate or AS Degree Nuclear Medicine Technologist in Specialized Discipline And, in most cases Registered Nurse Pass Licensure Exam Occupational Therapist Physical Therapist Radiation Therapist
  • 40. If Target is: $3 mil = $42/Hr $4 mil = 55 MEDICAL PROFESSIONS $5 mil = 68 $6 mil = 82 PA Occupational Wages Survey January 2012 (South Central PA) $7 mil = 96 $8 mil = 110 OCCUPATION Wage /Hour Oral and Maxillofacial Surgeons $123.77 Surgeons 118.28 Orthodontists 112.04 Anesthesiologists 106.11 Family and General Practitioners 92.57 Pediatricians 92.10 Psychiatrists 70.32 Dentists, General 60.13 Pharmacists 53.38 Chiropractors 52.89 Optometrists 40.38 Veterinarians 48.93
  • 41. MEDICAL PROFESSIONS Educational Requirements Oral and Maxillofacial Surgeons Orthodontist Surgeon Mostly A’s in College Anesthesiologist A’s in Math & Sciences Family and General Practitioner Plus, Pre-Med School Pediatrician Plus, Doctorate Degree Psychiatrist Plus, Highly Specialized Medical Training And, Pass Medical Board Exam Dentist And, Continuous successful application Pharmacist of Knowledge Skills, Optometrist and Abilities On-The-Job Veterinarian Chiropractor …
  • 42. FOOD SERVICE STARTING SALARIES HIGH SCHOOL GRADUATE Dishwasher $18,444 ($8.87/hr) Dining Rooms Helper $18,922 Fast Food $19,357 ($9.31/Hr) Waiters /Waitress $19,399 Cook $21,494 to $28,154 (13.54/hr)
  • 43. NACE Salary Survey Fall 2011 Discipline Average Salary Number of Offers Aerospace/Aeronautical/Astronautical Engineering 58,208 347 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
  • 44. STARTING SALARIES Selected Master's Degree Candidates By curriculum for all types of employers Yearly salary ranges in $ Business Accounting 47,500 - 52,000 MBA-Nontechnical 1 year or less experience 44,000 - 80,000 Engineering & Computer Science Civil Engineering 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.
  • 45. SUPPLY & DEMAND SHOULD YOU CONSIDER JOBS THAT ARE IN DEMAND, NOT ONLY NOW, BUT WHEN YOU GRADUATE? CONSIDER PROJECTED CHANGES (+) 0R (-)
  • 46. OCCUPATIONAL DEMAND 2016 York Area (NEGATIVE CHANGE) Employment* Change Annual Industry Title 2006 2016 Level Percent Change TOTAL NONFARM JOBS 187,740 194,490 6,750 3.60 675 Manufacturing 36,100 33,970 -2,130 -5.90 -213 Elementary & Secondary Schools 10,110 9,630 -480 -4.75 -48 Printing & Rel. Support Activities 2,870 2,440 -430 -14.98 -43 Department Stores 1,810 1,500 -310 -17.13 -31 Educational Services 12,270 11,980 -290 -2.36 -29 Credit Intermediation & Rel. Activities 2,360 2,090 -270 -11.44 -27 Federal Government 4,140 3,870 -270 -6.52 -27 Depository Credit Intermediation 1,930 1,700 -230 -11.92 -23
  • 47. OCCUPATIONAL DEMAND 2016 York Area (POSITIVE CHANGE) Employment* Change Annual Industry Title 2006 2016 Level Percent Change Services-Providing 126,000 134,190 8,190 6.50 819 Health Care & Social Assistance 20,160 24,200 4,040 20.04 404 Construction 11,450 11,780 330 2.88 33 Administrative & Waste Services 8,050 9,040 990 12.30 99 Transportation 7,130 8,200 1,070 15.01 107 Other Services, Except Public Admin. 7,610 7,880 270 3.55 27 Ambulatory Health Care Services 5,940 7,460 1,520 25.59 152
  • 48. 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?
  • 49. 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