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Wharton business students asked how much the average American makes annually

They’ve got Laurel Lake. Other than that……
Laurel Lake
Cumberland Falls
A strong and involved sports community
Daniel Boone National Forest
Nearly endless hiking opportunities including myriad waterfalls and arches
A very good school system
A vibrant, modern and active downtown area
A good economy (at least by Appalachian standards)
 
Wharton, one of the best business schools in America, is obviously populated with students who haven't lived in the real world for a while, if ever. Over 25% guessed >$100,000 and one student guessed $800k. The real number: ~$53k. (https://www.marketwatch.com/story/n...ot-make-800-000-11642680985?mod=mw_latestnews)

I'd be really interested to know if any of these 'elite' students who represent the best and brightest of business students in America have ever held a job (outside a work/study)? They may have discovered that not everyone goes to the country club every weekend, the Hamptons for holiday, owns multiple homes, drive a new $50+k car, etc.

And then we wonder why our political leaders (of both stripes) who've gone to private schools and elite universities, have so little perception of how their constituents live and the most important issues to them. I guess if everyone you know all live like royalty, you come to believe that that is the norm.
So, 75% of them may have been correct? Ask UK students the same question and I bet you get similar answers. Poor kids can't afford UK now unless they play football or basketball.
 
I always heard some of the biggest douches go to Wharton.
No, Harvard and Yale. Wharton business school teaches cheap gas and low inflation is a good thing. They also teach that sustainable energy is a pipe dream and that climate change has been going on for 200,000 years.
 
So, 75% of them may have been correct? Ask UK students the same question and I bet you get similar answers. Poor kids can't afford UK now unless they play football or basketball.
Reminds me of Rome. During its heyday a Roman Senator was complainIng about the number of slaves and peasants living in Rome and suggested that they pass a law that required they all wear a red apron. A smart Senator said are you all crazy. If these people see how many they are and how few we are they will revolt and take what we have and kill us in our beds.
 
No, Harvard and Yale. Wharton business school teaches cheap gas and low inflation is a good thing. They also teach that sustainable energy is a pipe dream and that climate change has been going on for 200,000 years.
I’ve also heard many people cheat to get into Wharton. Big if true.
 
I’ve also heard many people cheat to get into Wharton. Big if true.
"I've heard" is cheap. Where did you hear that? The smartest man I've ever met graduated from Wharton School of Business and UL's Law School. I know he never cheated to get in any school.
 
Reminds me of Rome. During its heyday a Roman Senator was complainIng about the number of slaves and peasants living in Rome and suggested that they pass a law that required they all wear a red apron. A smart Senator said are you all crazy. If these people see how many they are and how few we are they will revolt and take what we have and kill us in our beds.
you have just explained US politics. Keep the people that aren't in power fighting amongst themselves so they don't figure out that they are all against the people that are in power.
 
you have just explained US politics. Keep the people that aren't in power fighting amongst themselves so they don't figure out that they are all against the people that are in power.
That was one of the main motives of politicians pushing third-world migration. Creating division and tribalism among people keeps the peasants fighting with each other so you never look at the masters.
 
When I was at UK for grad school and as a TA for Statistics, almost 30 years ago, I taught an undergrad Stats class and on the first day I would give out a survey for them to complete, and two of the questions I would ask was what they thought was the average household income, and what they expected to make their first year out of school, and I was shocked at the answers. Household income ranging from 10k to 200k, and first salary was about the same (maybe 20-150k).
 
When I was at UK for grad school and as a TA for Statistics, almost 30 years ago, I taught an undergrad Stats class and on the first day I would give out a survey for them to complete, and two of the questions I would ask was what they thought was the average household income, and what they expected to make their first year out of school, and I was shocked at the answers. Household income ranging from 10k to 200k, and first salary was about the same (maybe 20-150k).
Many parents don’t discuss salaries with their kids. 30 years ago every kid who graduated college (except for those in the schools of education and social work, perhaps) thought they would step right out into a high paying job. Some did, no doubt, but many had to work their way up the salary chain.
 
Many parents don’t discuss salaries with their kids. 30 years ago every kid who graduated college (except for those in the schools of education and social work, perhaps) thought they would step right out into a high paying job. Some did, no doubt, but many had to work their way up the salary chain.
I never knew exact numbers growing up, but I can't believe parents don't have a reality check conversation with their kids. I have them with my family all the time when they expect to get $85000 just because they read on the internet that's what they make... UGH.
 
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I never knew exact numbers growing up, but I can't believe parents don't have a reality check conversation with their kids. I have them with my family all the time when they expect to get $85000 just because they read on the internet that's what they make... UGH.
Lol... my first job after graduating from college - where I got a real salary - was for less money than I was making my senior year waiting tables if you broke it down from a $/hr perspective. I did pretty well and after a few months they promoted me to a new position and gave me a 15% raise and acted like I should be thrilled. I was like, "dude, that's a $2 an hour raise". Lol... loved that first job though.
 
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Lol... my first job after graduating from college - where I got a real salary - was for less money than I was making my senior year waiting tables if you broke it down from a $/hr perspective. I did pretty well and after a few months they promoted me to a new position and gave me a 15% raise and acted like I should be thrilled. I was like, "dude, that's a $2 an hour raise". Lol... loved that first job though.
My niece took some classes to be an interior decorator. Her and her husband moved south of E-town. She expected to make $85000 her first year "designing interiors" for people in central KY.... She told me I didn't understand how things have changed.... Turns out he is still the primary bread winner and she is doing that as a part time job making a few grand here and there.
 
I came home from grad school and took a job with a high school making well under $8/hr in the late 80s. I did have friends who were making $20k bonuses on top of high salaries. Within the year, they bumped me to a salary that paid about $12/hr (if I only worked 40 hours per week, which was rare). It was, however, a rewarding job.
 
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