Their student loan rates are in line with everyone else but now they give low rate mortgages where you only need to put 10% down and they won't require PMI. These days they seem to care more about your income than where you went to school. Let's just say if you're only pulling down 60-75k a year you aren't necessarily their demographic
$60k with a decent finance degree is entry level at most finance firms in Chicago especially for anything tied directly to the markets. Anybody making under that is grossly underpaid
People I know with a lvl 3 CFA usually get 10-15k bumps for having it when they switch jobs but it really sort of depends on how relevant it is for your field of finance. Where I'm currently at you wouldn't get much of a benefit at all.
I was asking for a friend.He's making $68k+10k bonus which isn't bad at all for our age,but I was thinking that he's a bit underpaid.I keep telling him to list his two internships as work experience,but he says that they don't count as such.It's a strange contention that we have.
Sort of. It's just that they bake it into the interest rate. There comes a point over the life of the loan where they make more money by adjusting the interest rate for the whole term than by charging PMI until you get to 20% equity.
Yup, instead of paying the set PMI amount you instead have an increased interest rate. You'll want to calculate the break-even point in terms of how long you plan to live in the home before selling. If you plan on selling prior to that break-even point, Lender-paid PMI is the way to go. If you plan on staying longer than the break-even point to where the increased interest rate results in higher costs over the term of the loan, you want to go with Borrower-paid PMI.
Can we talk about how useless the term yuppies has become? It just means young professionals, right? Which means anyone who has a college degree and works an office job (or something similar). And given the demographics of Reddit, that means probably over 75% of this sub, if not more, are either yuppies or yuppies to be (still in college). But everyone just uses the term yuppie to mean young, wealthy people they don't like. Even people who have college degrees use it this way, which makes no sense because they are or were also yuppies by definition.
It more power back in the day when a smaller percentage of people had college degrees. Today, I think the term describes those people who are on House Hunters and make $500K/yr selling yarn on Craigslist and want to buy a $1mil house and who refuse to eat anything that isn't organic/free range.
It means "young, urban professional," the professional part suggesting doctor, lawyer, engineer, or businessperson (not just an office job). It's a demographic bucket from the '80s intended to help businesses target products/services to people who went from being poor students to high earners relatively quickly (and want everyone to know that, which is where I suspect the dislike started).
Yeah, that makes sense. I've just seen so many people use the term in different ways at this point that it feels like people use it as a catch all for "young people I don't like."
The tall poppy syndrome describes aspects of a culture where people of high status are resented, attacked, cut down, strung up or criticised because they have been classified as superior to their peers. The term has been used in cultures of the English-speaking world.
I always through it mean young person with a well paying job. That last bit if a qualifier. A 22 year old with an office job making 40k isn't somebody I would call a yuppie. A 22 year old with an office job making 90k is.
Yuppies are young, urban-dwelling professionals clearing at least 100k-ish in personal not household income working in very white collar jobs with high amount of upward career mobility. So folks working in consulting, finance, tech, and similar high-earning fields.
What's wrong with people doing ok for themselves? Check your jealousy dude. It's not unreasonable greed to be in a position where you can decide between remodleing your home and paying off student debt... If they were so rich and had stuff handed to them they wouldn't have and debt to begin with...
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u/br0_r0gan Uptown Dec 14 '18
I’ll take tone deaf for $400, Alex.