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re: Jobs that you can realistically expect to earn $300k+ a year
Posted on 12/5/23 at 4:36 pm to GREENHEAD22
Posted on 12/5/23 at 4:36 pm to GREENHEAD22
quote:
I guess working for an independent and now a major doesn't qualify me to answer.
Your friends are full of shite pulling down 400-500K except is very rare circumstances, especially 10 yr guys. D&C/Reservoir will make the most but guys are still 250 range until you hit upper management. Reservoirs that has their stamp and can sign-off on reserves also will bring top$.
Small private equity where you have ownership, yes you can hit big numbers.
I left a major 8 years into my career with a base of $185k. Joined an independent with a base of $220k that paid at the time ~$80k/yr in bonus and $80k/yr in retention. Since then I've received 2 promotions and though my base hasn't gone through the roof the other two push me pretty high. I've got a lot of peers in similar situations. I don't work for a company who is in unconventional areas so I don't really know how they pay, but I know that folks working conventional fields US and overseas in D&C/reservoir do well.
If you're in Houston I would be happy to take you to lunch with a bunch of LSU PETE grads so you can tell them they are full of shite to their face.
2
Posted on 12/5/23 at 4:56 pm to JL
quote:
Joined an independent with a base of $220k that paid at the time ~$80k/yr in bonus and $80k/yr in retention.
You need to keep this job, that is damn good, that retention is every year?
Also I wouldn't say this is standard, at least not what I have seen or talked with any of my colleagues. This is DW GOM independents or unconventional major. Only ones I know regularly knocking down 400-600k is at director level or consultants.
215-225 with a 25%+- bonus is pretty standard for a 10yr senior engineer from what I have seen.
Also I would be curious to where you are in years in the industry. Guys who had decent foothold and experience before the 2016ish downturn are way ahead of guys who came in around that time or after. The industry is a lot different now than pre 2016ish.
This post was edited on 12/5/23 at 6:40 pm
Posted on 12/5/23 at 8:08 pm to GREENHEAD22
quote:
Technical sales is probably that main thing I am going look at
this is really the only thing that I think im qualified for that could actually make more money. I think theres money to be made in PSM. It's required and nobody actually wants to do it. But starting a business this late in life is a little scary
Posted on 12/5/23 at 9:04 pm to jamiegla1
The biggest thing about it is the time it takes to get established and forge relationships. Most high earning technical sales jobs are "whale hunting" gigs instead of high volume. Relationships are a big part and they take time. How long will it take you to hit those higher earnings to make up for the initial decrease in pay is a tricky equation.
Posted on 12/5/23 at 9:43 pm to GREENHEAD22
it really helps to have your former employer be your new customer. but I dont know how often that actually happens.
I think engineers are usually too risk averse to pull this off. I see I&E techs do it though. They just send it and do pretty well
I think engineers are usually too risk averse to pull this off. I see I&E techs do it though. They just send it and do pretty well
Posted on 12/5/23 at 9:45 pm to jamiegla1
Department heads for film crews (production design, costumes etc) average between $6500 to $15000 a week.
Obviously a more niche career path, but it fits the thread
Obviously a more niche career path, but it fits the thread
Posted on 12/5/23 at 10:02 pm to frankthetank
General contractors, any tradesmen like plumbers and HVAC people with hustle
Posted on 12/6/23 at 5:34 am to go ta hell ole miss
quote:
plenty of doctors and lawyers that regretted their profession choice because of stress, workload,
When I stop by the golf course after work, the parking lot is full. It is not full of doctors. It is full of insurance agents, real estate guys, general contractors, and entrepreneurs.
Being a doctor requires you to be physically present for most of us. Real money is made by people who figure out how to get their money to work for them even while they sleep.
Posted on 12/6/23 at 5:37 am to makersmark1
quote:
plenty of doctors and lawyers that regretted their profession choice because of stress, workload,
When I stop by the golf course after work, the parking lot is full. It is not full of doctors. It is full of insurance agents, real estate guys, general contractors, and entrepreneurs.
Being a doctor requires you to be physically present for most of us. Real money is made by people who figure out how to get their money to work for them even while they sleep.
Worked at one in high school. Spot on.
Posted on 12/6/23 at 5:38 am to TheOcean
quote:
I'm self employed
This is really the main difference. It's possible to clear 3 for a company but it's damn hard and better have a highly unique set of skills.
Owning a business/self employed is by far the most common way.
Posted on 12/6/23 at 9:35 am to frankthetank
Main bookie on a large college campus can earn 300k in one weekend
Posted on 12/6/23 at 12:19 pm to makersmark1
quote:
When I stop by the golf course after work, the parking lot is full. It is not full of doctors. It is full of insurance agents, real estate guys, general contractors, and entrepreneurs.
Being a doctor requires you to be physically present for most of us. Real money is made by people who figure out how to get their money to work for them even while they sleep.
It depends on the doctor though. I know these aren't all MD's but there's quite a few that own their own practice and basically work 4 days a week. I have a dentist friend and from him I've met a bunch of other dentist's and they are doing very well and working 4 days a week, every fricking Friday off. This guy is married to a dentist and they have a 3rd that works with them and they all have Friday off. I told him I don't understand why you don't have your partner take Mondays off and keep it open 5 days a week.
There's some other specialties like Dermatologists that own their own practice that don't work a ton. I know some Radiologists that just work shifts and work less than 5 days a week on avg. They also get a lot of Time off like 6-8 weeks a year.
Hell, I was talking to anesthesiologist that got 4 months of vacation a year. WTF...
Posted on 12/7/23 at 10:29 am to frankthetank
I know a few commodity traders that are making $300k+ base, start throwing in bonuses at some shops and it can be way over that.
Posted on 12/7/23 at 10:10 pm to PierPunk
What kind of lawyers make 300k plus?
Posted on 12/7/23 at 11:27 pm to BrewDrees95
You advance to Director level in a large med device company you’ll be making well over $300K.
Posted on 12/8/23 at 7:02 am to GREENHEAD22
quote:
215-225 with a 25%+- bonus is pretty standard for a 10yr senior engineer from what I have seen.
frickin hell really????
I'm getting hosed
Posted on 12/8/23 at 7:43 am to BrewDrees95
quote:
What kind of lawyers make 300k plus?
just about every 5-7+ year associate in my firm does. Certainly every partner in the firm does. But if you’re asking about a particular area, mergers and acquisitions is drudgery, but consistent work.
This post was edited on 12/8/23 at 7:47 am
Posted on 12/8/23 at 8:50 am to DownshiftAndFloorIt
That is for D&C engineers, facility is more like 180-210 with same bonus %.
This is for upstream though I don't know jack about downstream pay.
This is for upstream though I don't know jack about downstream pay.
Posted on 12/8/23 at 9:04 am to frankthetank
Run for Congress
Posted on 12/8/23 at 9:53 am to GREENHEAD22
quote:
facility is more like 180-210 with same bonus %.
This is for upstream though
Still...
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