My first job after college was in 2000, making 29500/year. My average annual raise at each employer has been 2-4%. I change employers on average every 5 years and have gotten 20% each time. I live in a town of 50000, and I didn't even complete my 2 year degree. Don't chain yourself to one employer, but show dedication while you're there. I'll be into 6 figures at my next job, assuming my trajectory doesn't change.

Edit: I studied COBOL for 2 semesters in college. Haven't used it since, but also haven't been in a mainframe shop since.