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Message
re: Age when you first made 100k at your job
Posted on 6/4/17 at 10:34 pm to LSUTOM07
Posted on 6/4/17 at 10:34 pm to LSUTOM07
To make a lot of people feel better, I've got a bachelors in electrical engineering and, after nearly 2 years in the field, I'm only a bit more than halfway to the $100k mark. I almost exclusively eat rice for sustenance and I've sold two kidneys within the last 10 days alone to help pay for my student loan.
Posted on 6/5/17 at 12:39 am to RedStickBR
RSUs also create one heck of a carrot that make it difficult to ever leave. You start lapping vesting schedules and you can have tens of thousands maturing each year with even more on the horizon. It's like a drug honestly (hence why vesting schedules are designed)
I don't really think of RSUs as part of my compensation since the money is tied up. It's a good "surprise" when it's available but I try to forget about it. I don't have hundreds of thousands in then like I'm sure my management does...so it's easier for me to forget :)
Still have a year left of my MBA program so no time to join the book club right now...however, I'll have plenty of time come May 2018.
I don't really think of RSUs as part of my compensation since the money is tied up. It's a good "surprise" when it's available but I try to forget about it. I don't have hundreds of thousands in then like I'm sure my management does...so it's easier for me to forget :)
Still have a year left of my MBA program so no time to join the book club right now...however, I'll have plenty of time come May 2018.
Posted on 6/5/17 at 7:06 am to LSUTOM07
quote:
Procurement
Damn 6 figures in purchasing is a 1%er
Posted on 6/5/17 at 8:22 am to yellowfin
Prior to anesthesia I was pulling around 73k working 3-4 days a week in an ICU. It was a good life for my 20s....lots of free time to spend what you made.
Then grad school...
I made 185k at 30
240k at 31
310k at 34.....my consulting business grew exponentially the last 4 years...
I'm pretty capped out in time but between nurse anesthesia and consulting and 60-70 hr work weeks but I payed off my school loan in 4 years of 130k.
It will be nice to not have to devote 30% of my income to a loan starting September 1st.
What did I learn through this process? We talk a lot of shite about high income earners but a majority work a lot more than the common man.
Then grad school...
I made 185k at 30
240k at 31
310k at 34.....my consulting business grew exponentially the last 4 years...
I'm pretty capped out in time but between nurse anesthesia and consulting and 60-70 hr work weeks but I payed off my school loan in 4 years of 130k.
It will be nice to not have to devote 30% of my income to a loan starting September 1st.
What did I learn through this process? We talk a lot of shite about high income earners but a majority work a lot more than the common man.
This post was edited on 6/5/17 at 8:24 am
Posted on 6/5/17 at 9:50 am to L S Usetheforce
Took 4 years on 30% of that income to pay off 130k?
Posted on 6/5/17 at 11:05 am to topcat88
quote:
What the hell do you people do to be making over 100,000 in your twenties? Congrats to all though
No shite. I feel like a fricking loser
Posted on 6/5/17 at 11:17 am to THRILLHO
quote:
To make a lot of people feel better, I've got a bachelors in electrical engineering and, after nearly 2 years in the field, I'm only a bit more than halfway to the $100k mark. I almost exclusively eat rice for sustenance and I've sold two kidneys within the last 10 days alone to help pay for my student loan.
Salary goes up quick though. Trust me. 9 years in and I've more than doubled my starting salary. Of course it has a lot to do with what industry you go into but if you are in the petrochemical industry this holds true.
Posted on 6/5/17 at 11:25 am to lynxcat
quote:
RSUs also create one heck of a carrot that make it difficult to ever leave. You start lapping vesting schedules and you can have tens of thousands maturing each year with even more on the horizon. It's like a drug honestly (hence why vesting schedules are designed)
I don't really think of RSUs as part of my compensation since the money is tied up. It's a good "surprise" when it's available but I try to forget about it. I don't have hundreds of thousands in then like I'm sure my management does...so it's easier for me to forget :)
Still have a year left of my MBA program so no time to join the book club right now...however, I'll have plenty of time come May 2018.
RSUs are fricking killing me right now. Got bored at work earlier this year and started looking around. So far I've had two offers, both with a decent bump in salary. But my RSUs are starting to vest this year, and it's going to be every year from now on. (and I've been getting at least 25% of base every year, plus dividend payout every quarter on unvested stocks). So I had to turn both opportunities down. No question I'd be gone for sure if not for those. First world problems.
Posted on 6/5/17 at 11:38 am to castorinho
The Golden Handcuffs... Not a bad problem to have.
I was 29.
I was 29.
This post was edited on 7/8/17 at 6:27 pm
Posted on 6/5/17 at 3:44 pm to birdieman
My first year the loan was at 6.9% interest...I had to prove income to consolidate.....so I payed an extra 9 k in interest. in total it was about a 155k....so I paid roughly 40k per year. You do realize just because I grossed 300k didn't mean I took home 300k right. After HSAs, 401ks, health insurance, mortgage, car loan for wife, electricity, food for 3 kids, etc etc....
Give me a break bro, let me feel like I accomplished something.
Give me a break bro, let me feel like I accomplished something.
This post was edited on 6/5/17 at 3:58 pm
Posted on 6/5/17 at 4:11 pm to L S Usetheforce
If you are making 300k at 34'there is no need coming here for validation.
Posted on 6/5/17 at 5:29 pm to yellowfin
quote:
Damn 6 figures in purchasing is a 1%er
Big difference in pay between category/commodity managers who may be responsible for $100M+ in spend vs. a local buyer at a plant.
Most category managers I know in the industry are making into the 6 digits in large metro areas. But most also have supply chain or engineering degrees + MBAs.
Posted on 6/5/17 at 6:40 pm to LSUTOM07
quote:
Big difference in pay between category/commodity managers who may be responsible for $100M+ in spend vs. a local buyer at a plant.
The Sr. Buyers are the plant are making 6 figures in a lot of cases.
It's def. rare to hear about procurement people in La making near that much money except in those rare situations.
Posted on 6/5/17 at 9:59 pm to AnonymousTiger
Hit the mark at 28 and have grown every year since (35 now). Like others have said it's not what you make but what you save. My wife and I make 250k+ but with 4 kids I don't feel I'll ever be able to stop working. Save as much as possible before the kids come!!
Posted on 6/5/17 at 10:11 pm to xtrashot
That blows my mind. My parents raised 3 of us; catholic schools, each had a used car for HS/college, lsu tickets, etc on a fraction of that. And I know they're in a good position for retirement
Posted on 6/6/17 at 10:59 am to xtrashot
Tell us about your expenses.. We make half what you make and save a lot. Only have a mortgage payment though and only one income so no child care expenses.
Posted on 6/6/17 at 11:38 am to xtrashot
quote:
My wife and I make 250k+ but with 4 kids I don't feel I'll ever be able to stop working.
What is your expense breakout? Unless you are in an extremely high COL area, someone is spending too much money
quote:
Only have a mortgage payment though and only one income so no child care expenses.
I'm going to guess he is referring to paying for college 4x. If he combines that with say a nice home, new expensive vehicles and the works $250k isn't as much as you'd think
$400k, 30YR Mortgage + Insurance + Taxes: $2250+ (Prob low end)
$35,000 Truck, 60m 0% Loan: $631
$35,000 New Toyota Forerunner 60m 0% loan: $631
College Savings for 8YO complete cost: $500-750/mo
House + Car + College Monthly Cost = $5500 = $2250 + (~$625 x 2) + ($500 x 4)
Doesn't include all the other expensive things in life
This post was edited on 6/6/17 at 11:52 am
Posted on 6/6/17 at 11:54 am to THRILLHO
TRILL
What industry?
Move to Texas.
I started off at Nokia fresh out of college at 75k.
What industry?
Move to Texas.
I started off at Nokia fresh out of college at 75k.
Posted on 6/6/17 at 11:57 am to GenesChin
quote:
$35,000 Truck, 60m 0% Loan: $631
$35,000 New Toyota Forerunner 60m 0% loan: $631
This is why you lease if you don't drive much. Unless you plan on keeping both vehicles forever. Then you gain 1200 in cash after 5 years.
Both those notes could be 800 total.
Edit:
Also on the kids college, they have to have some responsibility in that. You are sacrificing retirement and free time to spend with them now. I understand that's more of a personal thing though.
This post was edited on 6/6/17 at 11:58 am
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