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However, many professionals on salaries work very long hours. So sure someone might be making 100,000 a year as a professional, but if they are working 60 hours a week, their hourly rate is actually only 33 dollars an hour.
This is common in my field of Software engineering. If you manage your way into a large corporate in which the core of business is software (IBM, HP, etc), I see less of this to an extent. When I worked for (late 90s) HP, they pushed for a work life balance and 40 hour work weeks were pretty common. What you trade in is the mobility within the company, exposure (1 of thousands on thousands of employees), subjected to typical red tape/corp politics, and often less interesting work. Admittedly, that was a long time ago... those were different times. Job market was good so the companies had to make an effort to keep employees happy.
I'm now working primarily in smaller companies (some startups). 50-60 hour work weeks plus commuting and weekends is fairly common for me. However, work is more challenging, interesting, and there is not a sea of people to distribute tasks.... so opportunities for growth and learning new things is greater.
I try not to break it down to numbers (it can be depressing). I see it as money coming in for work I'm asked to do. However, I agree.. salary in corporate America over the years has degraded to the point it is pretty much a scam against the skilled worker. Its basically an open door to push over time and not pay for it, leaving the employee only one of two choices; suck it up or quit. The job market doesn't always make the latter choice an easy one to make.
Finally, those in software that work a role that is not core to business. I feel bad for those guys.... In particular the financials. I've never done it but pay is very high but turn over is often 6 months or less with extremely high stress. Just not something I'm willing to venture into.
PS> The long hours didn't bother me until the last 8 years.... I became a family man and it wasn't just about me anymore. Not being home can also impact the children and depending on you can be emotionally draining as well (it is for me).
You will spend a third of your life sleeping, and a third of it working (or preparing to work, commuting, etc.), The remaining 25 years or so is yours, to do with as you please. You may exchange those years, days, hours, for money. But some day, you will have lots of money and no hours at all left. Then what?
I know you don't want to listen to the advice of an old geezer, like Mark Twain, who said "In your last days, you will not regret anything you did, only the things you did not do."
Don't let anybody tell you that when you are 65, you will enjoy your life of leisure. You won't, no matter how much money you have.
I agree that all work and no play makes Jack a dull boy and that we should take time to smell the roses and all that jazz.
However, life is far from over for most people at age 65. My parents are in their 70s, they live in a very active and dynamic retirement community, and they are grooving on their life of leisure, which they've enjoyed for the past 10 years or so. Considering their vibrant health, I'd say it's safe to assume they probably have ten more years of an active "life of leisure" - and I am saying that based on their circle of friends, which includes many very active and happy and fun loving seniors - some well into their 80s and a few even in their 90s!
My husband is 57. Thankfully, we're at a place in our lives where he can work two weeks on and be off two weeks. We are very healthy and active and are enjoying the heck out of all our free time. Last year we went ziplining and hiking in the Smokies and Europe. This year we're going to explore the Outer Banks and the Mid Atlantic region (again).
Life and the enjoyment of that life is far from over in your fifties and sixties - and beyond - if you take care of your health.
I make $81K and work about 60 hour weeks for a fortune 500 company. The extra hours are definitely worth the extra pay. As the other poster mentioned, I try to keep my daily duties at a minimum. That includes a quick 20 minute commute, buying out meals, and renting a place I don't have to maintain.
The real benefit of my job is that I enjoy it. Those 20 extra hours are hardly noticeable. Some of my superiors work typical 40 hour weeks so I look forward to the day when I can move up and have a more normal schedule and still get paid more money. I think that is probably why people deal with the overworked salary positions.
My full-time job has very rigid hours-always 7.5 hours per day-37.5 hours per week- and I make about $21 per Hour which works out to about $40,000 per year.
There really is not much room for growth here, but the relatively short work day allows me to continue to focus on using my real estate license and pursuing other endeavors and interests. I guess I consider myself underemployed but stay because my benefits are also very good (pension, about 6 weeks total PTO), it is a 5 minute bike ride or drive and 15 minute walk from my home and my co-workers very rarely bother me.
I think we need to think compensation when looking a pay for work. just the average employer paid in healthcare in 2013 reported by Feds was average of 13k pre employee. more and more government is becoming the middleman between employer and employees in benefits compensation. With ACA many will get compensation even if not working and cost is distribute to those working in the end.
I work about 40-45 hours per week earning around $100K. I'm an engineer. In fact, i have so much free time as a single, childless individual, i was considering seeking a part-time "fun" job.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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For exempt employees, if you are going to count the additional hours worked over 40 due to projects, deadlines, problems then you have to also deduct the hours when taking a long lunch, coming in early or late, or medical appointments without having to use PTO. Since exempt employees are paid on the body of work rather than the hours worked, they should not have to account for their whereabouts at any given time. For me it pretty well balances off, with late hours being rare. Then if you add benefits, it can be as much as 30% more. For me, the employer medical contribution alone is worth about $7/hour.
I work anywhere from 40 to 65 hours a week depending if work is busy or not. Even when it's busy (i.e. the company is working) I am still not very busy typically. I just need to be present in case any issues arise. I make around 140-150k per year. I am salaried, but do earn a little extra on the weekends if I have to come in (not enough to make me "want" to work them, though). I am 25 which sometimes I still see all my friends are out partying, etc. all the time which can get a little disheartening.
Because I make as much as I do, my gf doesn't work, or occasionally works part time. So she does everything while I'm at work. She: Makes my breakfast, packs my lunch, makes dinner, does all the laundry, cleaning, groceries, errand running, etc. etc. She is able to do all of that while I'm at work, or getting ready for work in the morning, so as soon as I'm home we have 100% "free" time basically, whether it's go to the gym, movies, malls, dinners, weekend trips, etc.
When I was single, I did all that stuff myself and still managed to have a good social life, work out, eat right, date, etc.
It's all about time management and what you choose to do. when I work 50 hours I take home around $2150/wk, so it still comes out to $43/hr after taxes.. Once I get to 60 and 70 hours, it drops dramatically lol.
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