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re: What are your realistic 5 year financial goals?

Posted on 3/11/15 at 3:48 pm to
Posted by elposter
Member since Dec 2010
26700 posts
Posted on 3/11/15 at 3:48 pm to
quote:

Who here is working at a major market?

Besides Dallas, LA, Chicago, NYC and possibly ATL, what are the other major markets you speak of?

I forgot Houston..


I started in Atlanta in 2004. First year salaries were 100k in 2004 and quickly rose to 145k before the recession. Now they are around 135k with a couple paying more.

In Birmingham today they are 110k.

Nashville is also 110k.



Posted by Salmon
I helped draft the email
Member since Feb 2008
86161 posts
Posted on 3/11/15 at 3:48 pm to
quote:

Quite a few industries have starting salaries this high


most of my friends that are engineers (EE and/or ChemE) in Houston had starting salaries around $75k or highter
Posted by LSUengineer12
The Best Side
Member since Dec 2011
1850 posts
Posted on 3/11/15 at 3:51 pm to
Damn Mule, you're killing it man!

I'm an engineer so I understand quick math but did you say 7x?!?!

That's in that "Can't Fathom" range.
Posted by yellowhammer2098
New Orleans, LA
Member since Mar 2013
3864 posts
Posted on 3/11/15 at 3:52 pm to
quote:

Quite a few industries have starting salaries this high


I just wasn't lucky enough to end up in one of these fields sadly. A lot of people that I was in grad school (econ) with got jobs at places like Chase (80k), Dunnhumby (70k), Bain/BCG (70k), etc.
Posted by LSUengineer12
The Best Side
Member since Dec 2011
1850 posts
Posted on 3/11/15 at 3:53 pm to
My buddy who works in houston as a PE makes $100k/yr. I saw his offer letter.
Posted by Salmon
I helped draft the email
Member since Feb 2008
86161 posts
Posted on 3/11/15 at 3:54 pm to
quote:

I just wasn't lucky enough to end up in one of these fields sadly


neither was I
Posted by Salmon
I helped draft the email
Member since Feb 2008
86161 posts
Posted on 3/11/15 at 3:54 pm to
quote:

My buddy who works in houston as a PE makes $100k/yr. I saw his offer letter.


as a PE, I'm sure he does

I assume most of my friends are making >$100k now that they are all PEs

I was talking about entry level salaries as EI
Posted by Croacka
Denham Springs
Member since Dec 2008
61451 posts
Posted on 3/11/15 at 3:55 pm to
Do you work in OG/petrochem?

I'm a structural guy like you are, not sure if you caught my reply earlier.

Posted by LSUengineer12
The Best Side
Member since Dec 2011
1850 posts
Posted on 3/11/15 at 3:55 pm to
PE- Petroleum Engineer. Lol. Out of school.
Posted by mule74
Watersound Beach
Member since Nov 2004
12845 posts
Posted on 3/11/15 at 3:56 pm to
quote:

did you say 7x?!?!


Just under actually.

2009 - $37,500
2010 - $42,000
2011 - $52,000 (approx. as this is when I started getting bonused)
2012 - $57,500 (approx.)
2013 - $92,000 (approx.)
2014 - $183,817
2015 - $263,641 (I get my annual bonus each March so this is the bonus I just got plus my current salary)

I'll probably top out soon, but I guess I can't complain too much.
This post was edited on 3/11/15 at 3:57 pm
Posted by Salmon
I helped draft the email
Member since Feb 2008
86161 posts
Posted on 3/11/15 at 3:58 pm to
quote:

2012 - $57,500 (approx.)
2013 - $92,000 (approx.)
2014 - $183,817
2015 - $263,641


that is one hell of a rise
Posted by LSUengineer12
The Best Side
Member since Dec 2011
1850 posts
Posted on 3/11/15 at 3:58 pm to
quote:

Do you work in OG/petrochem?


Yessir!
Posted by Croacka
Denham Springs
Member since Dec 2008
61451 posts
Posted on 3/11/15 at 3:59 pm to
That's where the money is, it's just a little more volatile


I did consulting for the last few years but I just started working for an owner

Completely different world
Posted by elposter
Member since Dec 2010
26700 posts
Posted on 3/11/15 at 3:59 pm to
quote:

I just wasn't lucky enough to end up in one of these fields sadly.


Not sure if I consider myself "lucky" to have become a lawyer in a big law firm. There were tradeoffs, including delaying employment for three more years due to law school, big debt, horrible hours, some pretty shitty aspects of the actual work, borderline alcoholism and drug abuse. (Just kidding about the drug abuse). I'm out of the law firm life now and do consider myself somewhat lucky to have landed a nice in-house gig.
Posted by LSUengineer12
The Best Side
Member since Dec 2011
1850 posts
Posted on 3/11/15 at 4:00 pm to
Can I just ask how big of a brick you shite when you read that 2014 raise.
Posted by yellowhammer2098
New Orleans, LA
Member since Mar 2013
3864 posts
Posted on 3/11/15 at 4:04 pm to
quote:

elposter


I agree with you. I'm very happy in my field, I enjoy what I do, have good flexibility, and it isn't as high stress as a big law firm. Definitely wouldn't trade my life for my buddies in law schools lives right now.
This post was edited on 3/11/15 at 4:05 pm
Posted by mule74
Watersound Beach
Member since Nov 2004
12845 posts
Posted on 3/11/15 at 4:05 pm to
$80,000 of that was base. The rest was bonus but I knew exactly what I was going to get. It's more like commission. % based.

So to answer your questions as we landed big accounts it was more a gradual shitting of my pants.
Posted by LSUengineer12
The Best Side
Member since Dec 2011
1850 posts
Posted on 3/11/15 at 4:07 pm to
Prime example of putting in the grunt work early, sticking with it, and it really paying off! Awesome.
Posted by STLhog
Dallas, TX
Member since Jan 2015
19447 posts
Posted on 3/11/15 at 4:07 pm to
quote:

Not sure if I consider myself "lucky" to have become a lawyer in a big law firm. There were tradeoffs, including delaying employment for three more years due to law school, big debt, horrible hours, some pretty shitty aspects of the actual work, borderline alcoholism and drug abuse. (Just kidding about the drug abuse). I'm out of the law firm life now and do consider myself somewhat lucky to have landed a nice in-house gig.



I feel you. My best friend/college roommate got on at Kutak Rock after he graduated. He has been getting slaughtered with hours and work life.

Works a shitload on weekends etc. It's def wearing on him.
Posted by yellowhammer2098
New Orleans, LA
Member since Mar 2013
3864 posts
Posted on 3/11/15 at 4:07 pm to
quote:

it was more a gradual shitting of my pants.



Ah yes.. Seepage.
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