North Dakota had a very significant boom and nearly all of that was tied to oil companies paying top dollar to relocate. Most positions were temporary or related to field operations rather than corporate offices moving in. When prices and activity fell, unfortunately these people had limited options for finding work in other industries in North Dakota. Perhaps the growth was too dependent on a single factor.
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My wife and I have a very similar story. I graduated in 2011 with a Bachelors in Mechanical Engineering from a public university. I took an engineering job with a major oil and gas company making $80k starting. With steady pay raises and 5 years experience, I’m now making $125k. My wife started out in the oil and gas industry working for a consulting engineering company for $75k in 2012 and steadily rose to $88k. However, there are definitely drawbacks to the profession. I have lived in 4 different cities since I started working (you have to move where the work is). Also, I was laid off from my previous employer in April 2015 due to the downturn in oil prices. I was very fortunate to find a job with another oil major in September 2015, but it required relocating to a different state away from my fiancee (married just a few months ago!) and family at the time. My wife was laid off from her O&G job in Feb 2016 as well. I can honestly say that the sacrifices I and my wife have to make by working in oil and gas have been worth it though. We’ve aggressively saved our money, and we’ve made money on each of the relocations. We’re on track to reach financial independence much, much sooner than if we had chosen careers in another industry. I also thoroughly enjoy working in the O&G industry which is more than many people can see about their jobs/career path.
An employee paid a standardized weekly salary, whose job duties leave him/her eligible for overtime if he/she works more than 40 hours in the workweek. Employers typically have such employees NOT submit weekly timecards, but forms that claim paid leave if they work less than 40 hours and claim overtime if they work more than 40. Still, federal law REQUIRES that overtime eligible employees submit weekly reports of daily hours EVERY WEEK, and imposes penalties if employers don't.
I also work in the O&G industry as a petroleum geologist. Geologists typically have to get a M.S. degree in order to get hired into O&G but they also start above $100,000 base salary. I also enjoy an awesome work-life balance, hardly ever having to work more than 40 hours per week. I love my job but the roller-coaster ride of commodity prices can be disheartening at times.
4. Go back too school, probably the worst choice of all but i cant see myself being a laborer for ever, i hate working outside in the cold and after doing construction for 6 years now my body already feels achy compared too when i was younger. Ive had many injuries from hard physical labor and it scares me that one day i might not be able to do my job, and support my future family. as well i am bored with being a electrician so many of my friends are in school drinking coffees learning about interesting things and being around girls while I’m out in the cold working my ass off. Now i know i am making school sound glamorous and I’m sure its a lot of hard work, but i actually have thoroughly enjoyed Electrical school and am sad this is my last year. after this its work everyday and that thought depresses me, but making the wrong decision and going back to school for another mediocre job and go into debt when i can make all this money now depending on the route I take. I don’t know what i should do.
My 7 kids? 1 got a full ride to an Ivy League and is a venture capital banker, 1 U of Chicago and a Masters at Carnegi Mellon, another an Early Childhood Ed degree (and reconsidering the economics of that decision, but it was hers and she is owning it), another did community college until she decided on Physical Therapy and is ready to transfer – she is passionate and it is right for her, one tried college and said – nope not for me, is a minamalist, did some community college works part of the year in sustainable landscaping and the rest of the year is a nomad exploring. My baby is going to do community college and occupational therapy. All found there way.
In contemporary America it is a combination of all these factors, with scarcity remaining by far the most prominent one, which determine a person's economic compensation. Due to higher status professions requiring advanced and thus less commonly found skill sets (including the ability to supervise and work with a considerable autonomy), these professions are better compensated through the means of income, making high status individuals affluent, depending on reference group.
I always think about this process in terms of the sales funnel. You are writing posts and making videos that introduce people to a broader idea or subject and then using backlinks to filter them towards your affiliate program through your ultimate post. When creating this content you want to make sure you select either evergreen topics or link-bait style subjects that build social momentum and attract relevant traffic over time.
We’ve compiled the following list of jobs to illustrate some of the most popular careers that offer high income opportunities without a college degree. Keep in mind that just because someone can make $100,000 each year at these jobs does not mean it’s guaranteed. These careers offer the possibility of generating a high income, especially when the careers include a salary, bonuses, commissions, overtime pay, and most importantly, hard work.
Hello I just stumbled across your blog. A bit of back ground. I garudated with a degree in accounting in 2008. I got a job at a small firm, but got fired 3months in. I tried my best but I wasn’t getting it and no one was helping me learn. I went back to school did a year of sciences and tried to come back to accounting. I didn’t get another job till 2011 and got fired 11 months in. I learned and applied myself but I also felt I just wasn’t wanted despite my best effort. Tried to get back into it to get my CPA but could not find a job. I found many recruiters to be rude and condescending. A bit more info on me I was a bit of a hot head in college and took shit from no one. I managed to make a lot of enemies very few friends. I feel this is another reason I can’t get work in my home town I just have a bad reputation, and my resume does not look good. I am now almost 30. I want to support my family but and I feel I need to go back and find a useful skill to do so. I was thinking about doing a two year engineering diploma in the energy field; doing IT + accounting; or going into nursing. Any advice would be very much appreciated. Thank you for hearing me out.
I would look into Wealthfront and automatically contribute a set amount every month from your paycheck after tax. The first 15K under management is free and it’s just 0.25% after that. Sign up and play around with the risk tolerance meter to see what different type of portfolios they come up with. They do tax loss harvesting and automatically rebalance for you based on your risk tolerance. You don’t have to fund the account to see the different portfolios.
I am so glad you speak so openly and honestly about being paid what you’re worth. As an ESL teacher who’s a contractor, I find it hard to give up my contractual gig to jump on the salary scale of a school because I feel like I would be underpaid. And unfortunately, I still find it hard to shake the feeling that what I’m paid equates to what I’m worth, professionally speaking. Despite teachers’ relatively lower earning trajectories, though, Thomas Stanley of The Millionaire Next Door found they were more than twice as likely as the average American to be prodigious accumulators of wealth. So, despite low pay, or perhaps because of it, teachers tend to save and invest more than doctors, lawyers, and other traditionally higher paid professions. So I hold that thought close.
2. Back to #1: Other aspects. You must become educated in all facets of internet marketing. You need to watch a lot of instructional videos and read online articles and books. You MUST learn how to build a website, create a landing page, how to work with a large variety of traffic sources OUTSIDE of Facebook and solo ads. I’m talking about other resources such as techniques used with Reddit, for example. GET SMART.