Bank of New York
Summer of 1998
Total: $2240 (@8.00/hour)
I was cleaning up and I found an old W-2 form from my Bank of New York internship in 1998. The total amount on the form was $2240, which was the total amount I made during that summer. I worked in desktop support and was paid $8 an hour. In comparison, the minimum wage in New York was at $4.25. I was earning nearly double the minimum wage. At that time, I thought $2240 for the summer was a lot of money.
I think back and I still remember my first job. I applied in the New York’s Summer Youth Employment Program and was accepted to a Food Service Center. I was 14 years old and was paid $4.25 an hour. For the whole summer, I made $600. I was so happy because I actually made money for the first time.
The times have changed. I looked back at these financial statements and think about how much I have come along. At first, the financial statements brought back memories, and I relived my past in my head for several seconds. Then I snapped back to reality and smirked at the amounts I used to make. Now, I can make $2240 in one stock trade in a day. My earnings power has grown since, hundreds of percents from 1998. Certainly, inflation has helped grown my earnings, but my drive to succeed was the biggest factor for the increase.
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While I’m not making $2240 with a single stock trade, my income has increased quite a bit from my high school days. I remember thinking that $10/hour for lifeguarding was SO much! I always worked at least two different jobs….coaching and lifeguarding…man, those were the days….I always had a tan…
At age 15, my first job was a babysitting job at $0.25/hour. I worked a lot that summer and made only $40.00.
Of course, it was centuries ago…..
Marie
[...] Growing Money takes a look down personal finance memory lane to the income they made at old summer jobs. It would be interesting to see how much I made at my high school summer jobs. It’s probably more than I’m making as a full time law student. That’s sad. [...]