My plan to pay off student loans and jump ahead 10 years

[Pharmacist Rich]

I am a recent grad and have about $150k in student loan debt (in state tuition, and minimal spending over 4 years). I plan to be a retail pharmacist and am from Texas.
I was told by an upper classman who works for Walmart that your pay rate will transfer with you if you stay within the walmart system. I have been told that Hawaii, Alaska, and Oregon are some of the highest pay rates in the country ranging from mid $60's to low $70s with Oregon currently showing sign on bonuses in multiple areas (Sign on bonus requires a 2-3 year contract).

It’s not you, it’s us.

careers.walmart.com

My colleagues have been getting offers in the low $50's here in Texas out of school and typically in more rural areas as the popular jobs in Dallas, Austin, San Antonio are harder to land.

My plan is to try and land one of these jobs in Oregon with a sign on bonus. I will have a starting rate $15-$20 higher than I can get in Texas, a sign on bonus and if I find I dont like it there I can always wait for a position to open up in Texas in 2-3 years and move back with experience under my belt and a large increase in pay compared to where I would have been if I had started here.

I think I will be setting myself up well for the long term and with the extra money under my belt will be able to pay off my student loans much faster.

It seems like a strong plan and I have only lived in Texas so the idea of living somewhere new is also an exciting prospect to me.

Any thoughts from someone that works at Walmart or others that have done the same thing?

Thanks in Advance

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[randompharm]

I am a recent grad and have about $150k in student loan debt (in state tuition, and minimal spending over 4 years). I plan to be a retail pharmacist and am from Texas.
I was told by an upper classman who works for Walmart that your pay rate will transfer with you if you stay within the walmart system. I have been told that Hawaii, Alaska, and Oregon are some of the highest pay rates in the country ranging from mid $60's to low $70s with Oregon currently showing sign on bonuses in multiple areas (Sign on bonus requires a 2-3 year contract).

It’s not you, it’s us.

careers.walmart.com

My colleagues have been getting offers in the low $50's here in Texas out of school and typically in more rural areas as the popular jobs in Dallas, Austin, San Antonio are harder to land.

My plan is to try and land one of these jobs in Oregon with a sign on bonus. I will have a starting rate $15-$20 higher than I can get in Texas, a sign on bonus and if I find I dont like it there I can always wait for a position to open up in Texas in 2-3 years and move back with experience under my belt and a large increase in pay compared to where I would have been if I had started here.

I think I will be setting myself up well for the long term and with the extra money under my belt will be able to pay off my student loans much faster.

It seems like a strong plan and I have only lived in Texas so the idea of living somewhere new is also an exciting prospect to me.

Any thoughts from someone that works at Walmart or others that have done the same thing?

Thanks in Advance

Bolded point 1): Yes, but you will also have higher COL, significant one at that compared to TX, so those few bucks won’t make a different.

Bolded point 2): Moving back with that pay is extremely optimistic and unlikely if you even ever get that pay considering the market conditions, keep in mind you’ll also be competing with 10s of thousands of individuals for any job at any rate when they come knocking once loan payments resume in a couple of months. Also, pharmacy is one of the professions where pay is capped per market and in general has a cap, so experience =\= pay.

Bolded point 3): You won’t have “all that extra money” and won’t be able to pay your loans “much faster”. After COL adjustments, you’ll be lucky to make the same as you would in TX.

Also, bonuses come with stipulations, not sure how much of that they taught in school and/or you researched. They are not nearly as attractive as they make them seem. 40% goes to taxes, if you are fired for any reason or decide to leave, you will have to pay it back (sometimes with APR). The bonuses are also for stores noone wants or can handle, if the seasoned pharmacists aren’t willing to work them, that should tell you something.

Just giving you the real deal, don’t mean to sound negative but you seem overly optimistic and i would recommend spending more time researching the matter.

 

[JustFillIt]

Heaven help this poor soul…

I will pray for you.

 

[VA77]

I am a recent grad and have about $150k in student loan debt (in state tuition, and minimal spending over 4 years). I plan to be a retail pharmacist and am from Texas.
I was told by an upper classman who works for Walmart that your pay rate will transfer with you if you stay within the walmart system. I have been told that Hawaii, Alaska, and Oregon are some of the highest pay rates in the country ranging from mid $60's to low $70s with Oregon currently showing sign on bonuses in multiple areas (Sign on bonus requires a 2-3 year contract).

It’s not you, it’s us.

careers.walmart.com

My colleagues have been getting offers in the low $50's here in Texas out of school and typically in more rural areas as the popular jobs in Dallas, Austin, San Antonio are harder to land.

My plan is to try and land one of these jobs in Oregon with a sign on bonus. I will have a starting rate $15-$20 higher than I can get in Texas, a sign on bonus and if I find I dont like it there I can always wait for a position to open up in Texas in 2-3 years and move back with experience under my belt and a large increase in pay compared to where I would have been if I had started here.

I think I will be setting myself up well for the long term and with the extra money under my belt will be able to pay off my student loans much faster.

It seems like a strong plan and I have only lived in Texas so the idea of living somewhere new is also an exciting prospect to me.

Any thoughts from someone that works at Walmart or others that have done the same thing?

Thanks in Advance

Good luck. I've been trying to move back to my saturated market for over 3 years at Walmart and they have hired new grad and even external candidates and didn't even get an interview all with exceed expectations reviews. Of course I'm in an area with a higher location quotient.

 

[RXDOC1986]

I am a recent grad and have about $150k in student loan debt (in state tuition, and minimal spending over 4 years). I plan to be a retail pharmacist and am from Texas.
I was told by an upper classman who works for Walmart that your pay rate will transfer with you if you stay within the walmart system. I have been told that Hawaii, Alaska, and Oregon are some of the highest pay rates in the country ranging from mid $60's to low $70s with Oregon currently showing sign on bonuses in multiple areas (Sign on bonus requires a 2-3 year contract).

It’s not you, it’s us.

careers.walmart.com

My colleagues have been getting offers in the low $50's here in Texas out of school and typically in more rural areas as the popular jobs in Dallas, Austin, San Antonio are harder to land.

My plan is to try and land one of these jobs in Oregon with a sign on bonus. I will have a starting rate $15-$20 higher than I can get in Texas, a sign on bonus and if I find I dont like it there I can always wait for a position to open up in Texas in 2-3 years and move back with experience under my belt and a large increase in pay compared to where I would have been if I had started here.

I think I will be setting myself up well for the long term and with the extra money under my belt will be able to pay off my student loans much faster.

It seems like a strong plan and I have only lived in Texas so the idea of living somewhere new is also an exciting prospect to me.

Any thoughts from someone that works at Walmart or others that have done the same thing?

Thanks in Advance

Good luck, Rich. Don't listen to all the naysayers on this forum. At least you have a plan, stick to it and make it work for you. Go see the rest of the country and work in other locations. What is the worst that can happen. You are employed, you visit the other states and make money in your profession.
Just 1 consideration, you are trying to out plan, out maneuver, out smart a Multi-Billion (s) corporation, and trying to separate them from their money! AND you think they haven't thought about this plan?!?

 

[randompharm]

Good luck, Rich. Don't listen to all the naysayers on this forum. At least you have a plan, stick to it and make it work for you. Go see the rest of the country and work in other locations. What is the worst that can happen. You are employed, you visit the other states and make money in your profession.
Just 1 consideration, you are trying to out plan, out maneuver, out smart a Multi-Billion (s) corporation, and trying to separate them from their money! AND you think they haven't thought about this plan?!?

Bolded point 1) So do 15,000 other people, and i guarantee they’ve thought of it too. It’s not nay sayers, it’s real world but the problem is that they “think” everyone warning them are part of some cult that doesn’t want them to succeed, when their warnings are BECAUSE they want them to (and don’t want them to make the same mistake) but they don’t realize this til it’s too late.

Bold point 2) Wouldn’t be so sure about the being employed and “making money”, neither is a guarantee currently much less when loans resume or in a few years. Breaking even is more realistic with those kind of loans and 45-50/hr. After taxes, loans, expenses, etc. OP would be lucky to have anything left over, but i guess it’s good to have some plan regardless of how realistic it is.

Edit: not attacking your post and i know you are stating a similar outcome, i agree with the last part particularly.

 

[Sunshine98*]

Good luck. I've been trying to move back to my saturated market for over 3 years at Walmart and they have hired new grad and even external candidates and didn't even get an interview all with exceed expectations reviews. Of course I'm in an area with a higher location quotient.

Its all politics. They will come up with a "reason", but its crap.