Education & lifelong learner handled changes. What can you learn from one career?
1973 Lifeguard - $2.35 per hour. ($0.50 above minimum wage)
Back from 6 week cross country summer trip. Had lifesaving certificate and replaced friends off to college. Bought 10 speed out of $253 earnings.
1978 - Process Engineer - $7.79 per hour.
Graduated college working heat treat department in aerospace manufacturer. Not use to so much money, lived on 1 of 2 paychecks saving the other. Started MBA classes next year.
1983 - Production & Quality Engineer - $11.54 per hour.
First company laid off half of employees. Got opportunity with nuclear manufacturer before got my lay off. 40 mile commute led to quitting grad classes. Bought first home for $65,000 with 5% down.
1988 - Manufacturing Engineer - $16.45 per hour.
Navy shut down nuclear company. Crossed picket line 2 years for firearm manufacturer in extended strike. Followed 2 short term jobs with small manufacturers. 6 months unemployment was best experience & motivation to develop more skills.
1993 - Manufacturing & Quality Engineer - $19.06 per hour.
Small hardware manufacturer in poor market conditions. Wore many hats, developing ideas into new products. Company employment shrank, but company grew market share from #3 to strong #2. However 2-3% raises not helpful. Had roommates and worked 2ndjob to pay mortgage and car payment.
1998 - R&D Engineer - $32.88 per hour.
Joined large hardware manufacturer crossing country. 2ndrelocation to west coast came with promotion. Sold 1sthouse after 13 years for $72,000 (net loss $1,300). Bought 2ndhouse for $190,000.
2003 - Commercial Appraiser - $20.00 per hour.
Self employed assisting partner and learning new industry. Difficult how much needs to be done to be successful as entrepreneur. Sold 2nd house for $262,000 living off proceeds for 2 years. Year met my wife.
2008 - Contract Engineer / Marketing - $29.00 per hour.
Real estate market collapsed in 2006. Got back into engineering rationalizing overgrown product lines for Spa / Whirlpool Bath manufacturer. Wound up leading marketing project. Studied Solidworks computer design software.
2013 - Manufacturing Engineer / Project Management - $43.05 per hour.
Relocate to Pacific Northwest for development program at large aerospace manufacturer. So much need to be done. Keep moving projects and desks. Studied for PMI project management certification, but did not take $600 test while unemployed. Healthy raises & asked would I consider management, but management’s life is challenging. Bought 3rdhome for $265,000.
2018 - Manufacturing Engineer / Project Management - $52.20 per hour.
Program went from development to sustaining. Out of 1,100 manufacturing engineers, 1 of 123 left on program. Worked 13 projects & had 24 desks in 8 years. Raises dropped to 2-3% as demand slowed. (Age is a factor.) However a new program in development and will be opportunities for promotions. Expect to work 10-15 years more.
Lessons:
1) Employment tomorrow is Not guaranteed.
(Unemployed 2.5 out of 40 years)
2) Save for your future and hard times.
3) Times change. Moved between industries, 7 states and new technologies.
4) Education never stops.
5) Growth comes from taking Responsibilities and Risks.
6) Persist for Success.
7) Account for Inflation. 3 median priced houses: $65,000 in 1983. $190,000 in 1998. $265,000 in 2010. (Houses are up 80% in 8 years here)
8) Cash flow determines how comfortable your life is.
These lessons work. Apply them to your career and industry.
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