college math (math 201)

3. Determine your expected salary after graduation from Bryant & Stratton.

Find at least two credible sources that provide estimates ofstarting salaries in your chosen

field, Preferal)ly in the state where you hope to work. Ifthe two sources provide markedly

di節erent salaries, do additional researches until you find reasonably cIose agreement

between two prqjected salaries (within $5000 or so). Average the two salaries (add the

Salaries and divide by two) to detemine your expected amual salary. Detemine the

monthly salary (divide the expected amual salary by 12). Then compute the net (after tax)

Pay. For simplicity we will use a 25% tax rate. Realize that taxes are complicated so this

is just an estimate.

You may have completed such an activity in another one of your classes. If so you may

use the results you obtained earlier. Ifnot you might want to talk to your program director

Or Career Services for help in locating infomation al)Out Starting salaries in your field.

Keep in mind that much of the available infomation on salaries is based on data from all

WOrkers in a given field, nOt just those begiming their careers. AIso data may be for the

entire comtry. Keep in mind that workers in some states make substantially more than

those in other states.

4. Create a budget based on your estimated salary.

Make it as realistic as possible so you are prepared upon graduation. Excel will make it

easier for you. Note that you will add the student loan payment later.

5. Estimate the total amount ofyour student loans at graduation.

Estimate your student loan obligation upon graduation from Bryant & Stratton College.

You will need both the loan amount (principal) and interest rate for each loan.

Choose one ofthe following options for estimating your student loans. Ifyou do not have

any student loans you must choose Option 2.

Optionl:

You should already know the amount of your loans for the current and past semesters.

You will need both the principal of each loan and the interest rate associated with it.

Keep in mind that interest rates may vary from loan to Ioan. AIso remember to include

Student loans from other institutions you have attended.

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