The Recent College Graduate Thread!

[William]

First off, congratulations at finishing school!

This thread is aimed at recent college graduates who are just now figuring out "the real world".  That phrase is not my favorite but it is easily understood.  So life after school is drastically different.  Many of us go from attending classes for 17 years to all of a sudden being free of textbooks!  What a shock!I just recently signed up with this forum so for all I know, there are many young people on this forum or perhaps very few.  Hopefully all the regular posters can touch base in this thread.

So what have you found difficult/rewarding since graduating college?  Is life less costly than you expected?  Is your career even more fun than college?  Let's discuss!  I'll start...

I graduated with my bachelor's in 3.5 years, debt free.  I have been working for the family business since then but soon I will be starting an additional position to get benefits, 401(k), keep me even busier, build my 'stash etc.  My biggest shock since graduation has been the lack of direction my life has now.  Perhaps this is similar to what most people experience when they first enter retirement.  I can literally do whatever I want.  In high school, I was being held down with school and being a minor.  In college, I had to stay focused to get through school quickly to keep costs low.  Now I'm nearly free.  How empowering!  Or how scary!

Enough about me, let's hear your (more entertaining, I'm sure) stories!

[sol]

I didn't finish school until past 30, but the principle is the same.  New job, new location, new life.

The biggest obvious thing for me was to try to avoid the lifestyle inflation that is so common with new grads.  I had watched too many of my friends sign over their first paychecks as a down payment on a new car, or a fancy apartment.  The longer you can continue to live like a student, the better off you'll be. 

[chenzhaowei]

I don't think my life is without purpose now.  My goal is really the same as it has been since I was in school... get to the next stage.  Level up!  The next stage just happens to be early retirement.  I'm sure I'll think of a new goal when I reach that point.

I agree with the lifestyle inflation issue.  Whereas I may have forced myself to wait four months before I bought a big ticket item (an iPod nano 4 years back which wasn't even that much at $125), I impulse bought a keyboard piano which was several times more expensive after contemplating for only maybe a week.  Luckily, I've trained myself to buy durable goods and not develop consumption habits like Starbucks, so the mistakes are always looking me right in the face and also cluttering up my space.

[Fuyu]

So what have you found difficult/rewarding since graduating college?  Is life less costly than you expected?  Is your career even more fun than college?  Let's discuss!  I'll start...

I graduated with my BBA in accounting in 3 years. Debt free only because my parents paid for my entire college tuition and they don't want me pay them back. I have been saving 40-45% of income after deductions if they ever do change their minds. I started working in public accounting (not the Big 4 though) after taking a break for 6 months to study for the CPA exam after graduating.

I feel like life is much simpler and peaceful now, especially after moving out. I like that I'm responsible for paying my own bills and instead of what I consider mooching off my parents. Before I read MMM and ERE, I admit I did start buying a lot more stuff once I start working. It seemed like the normal thing to do since that was what my coworkers were doing, constantly shopping after working or buying stuff online. Is life less costly than you expected? Excluding rent and utilities, I spend less money now than in college. I feel like work oscillates between being more tedious and more challenging than college, but I like that I don't have to waste my time taking general education classes anymore.

William: It awesome that you feel you can do whatever you want! I feel very stressed when there's uncertainty of the future and there's endless possibilities.

chenzhaowei: I agree. I feel like my life has more purpose because I know what my next stage is and how to get to it. I have a lot more major and minor quests I want to complete before I reach retire early retirement though.

[Crash87]

I've been out of school for a year or two now. Got an MBA and a CPA.

Pros: Stress free life
        Independance
        Finally have money
        More free time

Cons: It is much more difficult to meet new people and make new friends.
         Old friends are rapidly getting married/having kids. I'm not against my friends starting families, it just simply means we see each other less.
         

[MooreBonds]

Congrats on finishing early!

Some things I would recommend from my personal experience:

--It's a double-edged sword, but I lived at home for as long as I could to save up extra cash. With today's insanely low interest rates and housing prices, it could make sense to buy. Sure, it was a little bit of a drag with dating (although my parents spent a majority of their time out of town, which helped), but it also helps weed out the women who are only looking to live in the here and now and are only focused on superficial things with big price tags, and aren't able/willing to sacrifice now for huge future benefits.

--Keep living simply. Don't be afraid to make use of things like Craigslist to buy used items if in good condition.

--Ignore the peer pressure and temptations from people that go out and blow $100/night on weekends at the bars, or buy a $35k sports car. Just keep picturing yourself at age 30 with a big ol' stash while they are still scrambling out of debt. You don't need to spend much money to have an extremely rich and satisfying life. In fact, often, the activities that truly build bonds and refresh the soul are those that don't have high price tags.

--If you want to pursue advanced degrees, look for options to pay it for free. For example, many universities/colleges give FREE classes to people who work there full/part time for so many years. Not to mention the various business that give some tuition credit.

--Just keep saving saving saving, and remember the power of compound interest. Sure, spend a little to keep things exciting, but it's unbelievable the power of being financially independent and not having worries about money.

[DebtDerp]

I graduated about a year and a half ago. Overall my life has been pretty great since graduation. I have a nice job, I live in a pretty cool city, and I don't struggle to pay the bills. I realize I have it pretty good compared to a lot of my peers. With that being said, I have a lot of student debt. Luckily, I found NMHD and MMM and I am going to do something about that debt.

I agree on the lack of direction thing though. I am 24 and still have no idea what I want to do with my life. I like the job I am in now but dread having to make that into a 30 year career. So I am hoping that working towards FI will give me the options to really do something I love (still don't know what that is) instead of doing something because I have to.

[TwoWheels]

Recent college grad here (1.5 years ago). I'm debt-free thanks to in-state tuition, music scholarships, and generous parents. I got a software job right after graduating.

Pros of the real world (i.e., full-time employment):
- Free time to pursue whatever interests me. (Not nearly enough, but more than I had as a student.)
- No longer forced to study and memorize things that bore me to tears.
- 'Stash going up quickly, which gives me a great feeling of freedom - having options.
- Encourages and enables a long-term perspective. When I was a student, I never thought much about post-graduation life and wasn't inclined to scrutinize how I spent my free time.

Cons:
- Soul-crushing regularity. As a student, you have vast stretches of free time here and there (summer, various holidays, etc.) As a full-time office worker, your free time comes in small, predictable blocks wedged into an inflexible schedule. I don't think I'm cut out for this kind of monotony, and it's one of the many reasons FI is attractive to me. I can already see the danger of this kind of life for me - work gradually starts to sap your energy, your creative interests and dreams fade into the background, and eventually you just spend your evenings "unwinding" in front of the TV. No thanks.

[marty998]

Cons:
- Soul-crushing regularity. As a student, you have vast stretches of free time here and there (summer, various holidays, etc.) As a full-time office worker, your free time comes in small, predictable blocks wedged into an inflexible schedule. I don't think I'm cut out for this kind of monotony, and it's one of the many reasons FI is attractive to me. I can already see the danger of this kind of life for me - work gradually starts to sap your energy, your creative interests and dreams fade into the background, and eventually you just spend your evenings "unwinding" in front of the TV. No thanks.

You've no idea how true that is. It's taken me years to figure that out. Good for you that you realised it very early on.

[iamsoners]

Interesting that a couple of you graduated in a more compact time frame--so did I and it was a great decision for me.  I'm guessing it would be a fairly common theme among us all.  Granted, ya'll got much more practical degrees than I did... good for you!

[William]

After I graduated, I took interviews in several major cities.  I had group interviews, lunch interviews, dinner interviews, phone interviews, problem-solving interviews, you name it.  One thing I noticed is how little people cared what my GPA was.  It was really good but no one cared.  They wanted to know what practical experience I had to offer.

Another thing I noticed after graduating is how many people getting paid similar to me complain about life being so expensive!  I have run the numbers over and over and there is plenty of room for savings!  I mean really, life in the USA is spectacular as long as you navigate logically.

I also noticed it is harder meeting people after college.  I noticed someone else in this thread commented similarly.  Anyone have any tips that involve meeting people without spending too much money?  For me it would be talking with nearly everyone because some of the most random people you see are actually very interesting.  Also, I am into cars so just meeting up with enthusiasts is fun (even if you don't have an expensive car).

[Paul der Krake]

The GPA importance really depends on the field.

For general degrees, a TON of companies won't even consider you if your GPA is below whatever threshold they find fit at that time. There are people who decide to go to institutions where they think they can get a higher GPA than at a prestigious institution. Not the only factor of course, but it's out there.

I live in a college town home to a reputable university with tons of humanities students, and you would not believe the amount of crap I overhear every week from students jockeying for position in classes and planning their strategies for the best grades.

[William]

The GPA importance really depends on the field.

For general degrees, a TON of companies won't even consider you if your GPA is below whatever threshold they find fit at that time. There are people who decide to go to institutions where they think they can get a higher GPA than at a prestigious institution. Not the only factor of course, but it's out there.

I live in a college town home to a reputable university with tons of humanities students, and you would not believe the amount of crap I overhear every week from students jockeying for position in classes and planning their strategies for the best grades.

Yes, I'm sure some professions (CPA's etc.) care about the GPA.  For me, I was looking for an analyst role and no one cared :/.  Also, I went to a private school and eh, no one cared really.  That just goes in line with a recent Money Magazine article where they outlined the reason why it doesn't usually pay to go to an ivy league school if your reason is to get paid more after graduation.

[babycakes6001]

I am a somewhat recent college graduate (2.5 years) but have just recently started working as a CSA.  My major in college was nutrition and now I am here.  I don't know much yet, and I struggle daily with finding ways and opportunities to learn the field I am in.

I would like to eventually be a CFP, but I know there is a long road to get there.  Right now, I work under an FA and don't have much of a work load, so it is hard for me to lean on hands on experience to learn the ropes.  I just passed my Series 7, and after multiple attempts still can't manage to pass the 66.  I am currently studying for the Series 63 and later the 65.

Fresh out of college I was a bartender. No previous financial experience what so ever. Since out of college and in the new postition, I have struggled financially and socially.  I am no longer the "party girl" and its taken some getting used to.  I, too, am stuggling with meeting people that are now living the same life style, 9-5.

I am looking to use MMM for any resources possible to help me excel.  Any advice? I'll take it!

[William]

I am a somewhat recent college graduate (2.5 years) but have just recently started working as a CSA.  My major in college was nutrition and now I am here.  I don't know much yet, and I struggle daily with finding ways and opportunities to learn the field I am in.

I would like to eventually be a CFP, but I know there is a long road to get there.  Right now, I work under an FA and don't have much of a work load, so it is hard for me to lean on hands on experience to learn the ropes.  I just passed my Series 7, and after multiple attempts still can't manage to pass the 66.  I am currently studying for the Series 63 and later the 65.

Fresh out of college I was a bartender. No previous financial experience what so ever. Since out of college and in the new postition, I have struggled financially and socially.  I am no longer the "party girl" and its taken some getting used to.  I, too, am stuggling with meeting people that are now living the same life style, 9-5.

I am looking to use MMM for any resources possible to help me excel.  Any advice? I'll take it!

I have long considered becoming a CFP after my aptitude tests in 7th grade revealed I would do well as a financial planner.  I have had many opportunities (and internships) to join a firm but it's not where I want to be right now.  I would say the biggest obstacle is getting a solid clientele.  If you do not have many well-off friends and relatives, being a financial planner would not be fun.  If you don't have a list of possible clients created, you should do that.

As far as meeting people (useful in life and becoming a CFP) I would post up in this forum and see if there is anyone else in your area.

[Nudelkopf]

I've graduated twice in the last two years (most recently in December).., but I'm going back for another year (teaching qualification). So, I'll be finally joining you this time next year :-)

[kt]

24; graduated 1.5 years ago, worked for 3 months over summer, unpaid internship for 3 months (saved money specifically for that in summer and didn't touch savings) now been working for a year freelance.
i love the independence but agree about the 'without purpose'. i have aims, financial/career/other, but it doesn't feel the same as '5 years school, 2 years sixth form, 3/4 years uni' as they're all more flexible than that. plus the time span and perspective of now looking at 50/60 years is a bit different, before uni i only really considered up to mid 20s, maybe 30.
living in london and then living without any income have helped me keep spending low. plus i very consciously chose my current house for walkability. i'm naturally fairly frugal.
tips for meeting people would be great! i've moved city and am struggling to find people 'my age'. i have older friends but it's not quite the same.

[Colterha]

Greetings,

This is my first official post, I suppose. I decided that "The Recent College Grad Thread" would technically qualify, although I'm 23 and graduated 3 years ago. I Moved to Dallas to be closer to family and have been working for a Marketing startup for a couple years now.

The pay isn't great but I am receiving equity and am now one of the top "executives" if you will. Hoping that my new position (including some commissions) will boost my salary to the point that I'm no longer dissatisfied with my current pay rate.

So thankful that I discovered both ERE and MMM, I'm attempting to change the world- one friend or colleague at a time.

Foolish? Idealistic? Perhaps, but someone's gotta do it.

[StaceStache]

So interesting that several people have noted they graduated early. I guess it is a Mustachian thing to do!

I graduated with my bachelor's in accounting in 3 years, and got my Master's in accounting in 1.5 years. During the last half year of grad school, I passed all parts of the CPA exam. Graduated December 2010, so I've been in the "real world" for 2 years.

I love not always having homework or studying always in the back of my mind that I "should" be doing. When I leave work, I LEAVE work there - done for the day, whereas in college I always felt there was something I needed to be working on (school-wise) after work.

Biggest negative in my opinion is not having the huge breaks you get in school: summer, Christmas, etc. I always worked part-time during college so I never had "complete" freedom during that time, but even so, I wish I could just take a few weeks off sporadically throughout the year. This is one of my main motivations for FI. To some degree, I like "working", I just get burnt out easily and would rather work hard for a few weeks and have a few weeks off rather than working steadily alllll the dang time (2-3 weeks of time off a year is not enough in my opinion!)

[taintedbean]

Cool thread!

Graduated last May and have had a really hard time deciding what I want to do. There are too many things that I think I might have some interest in and im not quite sure which to pursue. This aspect of being in the real world has been far more stressful than school was for me.

Also, still living with parents so dont have the independence (which I love) yet

[mpbaker22]

I graduated 14 months ago (December, 2011).  I did 3.5 years in math/economics. 

The transition was interesting.  I had a bit of lifestyle inflation.  I had a nice apartment ~600/month, bought a TV (from my sister), Xbox, and a few other smaller items that I 'needed.'  Regardless, I still saved 20+% of my income for the first 6 months.  I sort of came across my own mustachiasm before finding this blog.  I was purchasing many of my meals prepared and driving ~1500 miles/month, and I realized by just tweaking a few things I could save so much more.  The savings rate jumped to 25-30%.

Then, I started reading MMM.  I made plans to move to a cheaper apartment that would require less driving.  Now, I'm saving 50+%.  I just paid off the last of my debt (other than revolving credit card) last month.  Disclaimer - I don't include debt repayment as an expense for savings rate since it goes toward net worth.

[JessicaRed]

I'm about to be a recent graduate - getting my JD in April. I'm 26. Pretty freaked out about joining the real world, actually! In Canada, you don't get called to the bar until you've done 10 months of "articling". Articles are mandatory and there are fewer articles than there are students, but luckily I got one with the Crown, which was definitely my first choice.

Articling starts in August and it is going to be such a massive change for me. I've never worked a "real" job before - just casual waitressing - so going to a solid office job will be very strange. Also, articling (and Crown work in generally) is super long hours. I'm expecting to be at the courthouse for 10-12 hours daily, plus occasional weekends/midnight craziness. Sadly, this doesn't really end once you pass articling - we have lots of crimes and lots of criminals, but not enough in the budget to prosecute them, so one Crown on average is trying to balance a level of work better handled by two or even three people. This forecast is one of the many reasons I'm so happy to have found MMM - the possibility of having an escape plan if it's too crazy!

My hope is to pay off the 70-75k of student debt within two years, then start stocking the 'stache =)