Forum Replies Created
try the Occupational Outlook Handbook (Department of Labor website no links)
the Library should also have one, it gives details for 1000’s of professions. for example:
Accountants and Auditors
2010 Median Pay $61,690 per year
$29.66 per hour
Number of Jobs, 2010 1,216,900
Job Outlook, 2010-20 16% (About as fast as average)
Employment Change, 2010-20 190,700
What Accountants and Auditors Do
Accountants and auditors prepare and examine financial records. They ensure that financial records are accurate and that taxes are paid properly and on time. Accountants and auditors assess financial operations and work to help ensure that organizations run efficiently.
Most accountants and auditors work full time. In 2010, one in five worked more than 40 hours per week. Longer hours are typical at certain times of the year, such as at the end of the budget year or during tax season.
How to Become an Accountant or Auditor
The median annual wage of accountants and auditors was $61,690 in May 2010.
Employment of accountants and auditors is expected to grow 16 percent from 2010 to 2020, about as fast as the average for all occupations. Demand for thorough financial documentation is expected to increase in response to recent financial crises and subsequent financial regulations.October 10, 2013 6:57 pm at 6:57 pm in reply to: Any Solution For Affordable Housing in Jewish Communities #978661
@flyer, your right.
as a Bmore resident, housing here is very tough if you want to be in the younger areas. (Ranchleigh,Pickwick,Beazer etc…)
Also houses sell within hours of listing, often never reaching the market. you really need to have a good realtor.October 10, 2013 6:13 pm at 6:13 pm in reply to: Any Solution For Affordable Housing in Jewish Communities #978658
Housing prices are a function of supply and demand. Frum people like living with other frum people with proximity to shuls schools and access to kosher food (etc..).
Moving a whole kehila would provide an initial benefit to the pioneers, but with the arrival of more families, we would just recreate the supply/demand issue and drive up the prices.
Also please keep family money out of the fruminomics. When Yankle brings a large downpayment from Tatty (increasing demand), he is artificially floating the high prices. Meaning; if no one could afford a 500k house then the prices would normalize around the real purchasing power of the family (250k?)
To get a good deal:
1. Move OOT
2. Be a pioneer and move a little farther out from the core area
I just saw this post today.
I think a visit for a Shabbos would really help with your decision.
The kehilla idea has merit and may be the ultimate future for many communities. One of my accountant friends has been singing this song for twenty years. He also has done extensive research and knows of the tremendous tax benefits of this model.
What concerns me is that its
1. difficult to enforce
3. Most communities don’t have a central body of Rabbonim, often communities are divided over what is considered worthy of this communal support
its a good idea though; keep ‘um coming.
I like how you casually inserted Healthcare costs into your post, opening the door for another topic
3000% increase in forty years is certainly a recipe for disaster.
I’ll reiterate,”By inherent nature of the CR, i know nothing about you. i think we can agree that we’ve made assumption on behalf of the other, some accurate some not-so-accurate. I can address the points you mentioned but it would simply cause this topic to snowball into a technical discussion of collateralize debt obligations.”
he’s a quick snapshot of part of my resume.
i started working in the RMBS world in 2006, the housing bubble was alive and well. my teams main client was Bear Stearns and JP Morgan. (i later worked on many Homebanc, Wells Fargo and Greenpoint deals as well). i had a front row seat at the rise and fall of the market.Talking to investors who were crying on the phone and watching the cash flows ,or lack there of, deteriorate earns me a little understanding of the severity of this topic. needless to say i had tons of business contacts at Bear Stearns who were let go.it was a difficult time for many and i had box seats…
In 2010, I had numerous lengthy conversation with a board member of the FCIC (Financial Crisis Inquire Commission http://fcic.law.stanford.edu/) during their interview/research phase, we spent many hours discussing structured finance, he found my insights and knowledge helpful and useful during the interrogation of CEO’s and board members from the across the financial sector.
Again, lets disregard the securitization idea and focus on other ideas. I agree that no one would buy this bond, and i hope no one would be so crazy to ever create such a deal.I also agree the default rate would be close to 100%
lets get back to tuition’s.
is the current tuition model broken? yes/no
is the current tuition model sustainable? yes/no
do you have any ideas suggestions to improve the frum economy? Fixed fee tuition that everyone must pay? shared sacrifice?etc…
popa bar abba,
By inherent nature of the CR, i know nothing about you. i think we can agree that we’ve made assumption on behalf of the other, some accurate some not-so-accurate. I can address the points you mentioned but it would simply cause this topic to snowball into a technical discussion of collateralize debt obligations.
While this would actually be quite enjoyable, it is not for this thread.
lets conclude: that with the Abishters help we should all make life decisions that are consistent with the derech of Hashem
1. running is rarely a good solution
2. my life and career are elsewhere
3. Lakewood has its own challenges
popa bar abba,
To answer your question; the costs of a child from k-12 (which is thirteen years) generally for most yeshivas will probably cost the parents a lot more then 80k.
Regardless, the idea is theoretic as Squeak pointed out, that especially after the financial crisis, these bonds wouldn’t sell. I was merely trying to bring a creative alternative to the idea of shared sacrifice.
In hindsight bringing up the securitization piece wasn’t constructive on my part. Please refer to the previous post of people getting gainful employment to be able to support their frum lifestyles.
You are right, that idea is crazy. No-one would buy it.
“Just pay your tuition and be done with it” is the ultimate goal. Except some people don’t pay; i wish we could see the data. With open books this crisis can be solved.
The Lakewood model (from what i understand) seems to be fair; everyone pays for their kids.
popa bar abba,
While it is encouraging to hear that the leaders in Chicago seem to be addressing the tuition costs by a shared sacrifice approach have you seen the tuition decrease? Is it in fact lower than other communities?
Because a lot of people enjoy social engineering (at least, judging by the welcome shift to the shared sacrifice approach).
I would like to entertain a capitalistic model.
Hold on to your seats.
Some of you may know about the concept of structured finance. (I.e. MBS, CDO, ABS).
You collect numerous debt obligations, like mortgages, securitize them and sell them as a Bond to investors. Each group of similar mortgages is divided into numerous tranches with associated risk ratings. Every month cash flows from the mortgages flow into the deal as interest and principle payments. The Bonds pays the investors on a monthly basis.
The benefit of this is that the school always gets the $9M, up front ,each year! All the default risk is held by the investors!
(For the finance types; I know this is a simple approach. I was a financial engineer for four years so I do know a little something about securitization. We could incorporate over-collateralization, senior-sub payment structure, ration stripping, default triggers, and exchanges to help mitigate risk from the higher tranches)
I don’t know of any statistics done on frum families finances but if anyone has access to this knowledge please share the wealth.
I know this is not a scientific case study and the population sample shows bias, but I fear that the tuition crisis stems from similar stories across the frum spectrum (i.e. in some yeshivas the figure is 2%, 15%, 50 %,).
Maybe I’m naive, but I wonder if we had 100%, would we still have a tuition crisis?
all thoughts are welcome.
I am going to choose to gloss over this subject because of sefira and the precarious time for klal yisroel between Pesach and Shavuos (of course the impending firestorm of comments helps too:-)
for an extreme example: I think we can agree that being an ice-cream taste-tester may be a good job for some people but it will almost never pay enough to support a frum families needs. Thus we can agree that going into ice-cream testing was a poor choice.
To conclude: I believe that simple planning and/or research could improve many families finances.
I appreciate your response and ideas. While I disagree with your idea of making tuition a “shared sacrifice”, I enjoy having an honest discussion with people, like yourself, who understand that this is a major issue in klal yisroel.
Out of curiosity, why do you choose to abandon the current model (that everyone should be responsible for their own kids/bills)?
I think everyone understands that being frum, while being a huge bracha, is a very expensive lifestyle (i.e. yomim tovim, tuition, living in established communities, larger families, simchas).
Maybe we should be pushing for more advanced degrees and stronger credentials? Maybe we should be pushing for smarter financial planning?
I took my young son to a game on Wednesday night. We only stayed for the first three innings (he got tired:-)) but we had a wonderful time.
Sorry if this sounds a little preachy…
I disagree that govt. assistance will correct our tuition crisis; if anything it will cause more issues. (For empirical evidence, has any government program ever shrunken over time?
I am absolutely confident that Klal Yisroel can fix our tuition crisis, but raising tuitions and lobbying for govt assistance is not the way.
i agree that YWN-CR isn’t a great place for a tuition conversation, my intent was only to see if others had a similiar budgeting situations or rabbinic insight.
i do plan to ask my Rav for his hasgafic guidance and will always continue to seek eitza for my life decisions
Quick Question; where would be a better place for a serious conversation?
i’ve often wondered where the tuition figures come from? i assume that its simply; cost/#of students=tuition. fundraising covers shortfall and helps fund future needs (i.e. building/endowments).
honestly i am new to this game, but do the schools give out financials? i’d be interested in seeing any schools budgets? until we see the “total cost of a school” this is all theoretical.
lets work backwards for a second: if a class has 20 boys, each paying 7k that equals 140k. lets subtract 50k for the rebbi’s salary and 30k for the english teacher, we’re left with 60k to cover admin/building/misc. this seems reasonable to me.
with that said tuition shouldn’t be above 7k?
now you may say that not everyone can afford 7k per kid (which is totally understandable if you have a large famiy) thats where the fundraising kicks in to cover the shortfall.
the issue i have is with the cost shifting. i have no problem budgeting for a reasonable tuition, its the additional 3-4k of cost shifting funds that bother me.