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I would love to know what degree pays "low 200s" in the first year.
MBAs (and others) in Investment Banking, Venture Capital, Private Equity, hedge funds; JDs at a few law firms; MDs DOs and DDSs in numerous medical specialties (post-residency/ internship / fellowship). The > 200k number includes year end bonus and these jobs are post some sort of advanced degree, NOT post-bachelors.
I-Banking, VC, PE, hedge funds, a few law firms, numerous medical specialties (post-residency/ internship / fellowship). The > 200k number includes year end bonus and these jobs are post some sort of advanced degree, NOT post-bachelors.
MBAs (and others) in Investment Banking, Venture Capital, Private Equity, hedge funds; JDs at a few law firms; MDs DOs and DDSs in numerous medical specialties (post-residency/ internship / fellowship). The > 200k number includes year end bonus and these jobs are post some sort of advanced degree, NOT post-bachelors.
$200k right out of college is pretty insane. Most hot shot Wall Street kids from the Ivy League schools don't even roll that kind of dough right out of the gate. The top Big Law jobs in NY pay $160k and those are rarified positions.
My dad makes a little less than 200K and he still drives a Civic with over 100,000 miles. It has no bearing on his career (he's in engineering)
I have an engineer friend who also drives a 1984 Civic (with less than 100K miles...he doesn't drive much). He decided to have it repainted because he still likes the car and it runs fine. He is retired, has a 7 figure 401K, and draws a pension plus Social Security.
I notice engineers tend to be much less flashy and much better savers than other professionals (in general).
I see we have the ole City-Data income equation again. Always take to stated income and multiply it by 50%. People seem to bs on Internet forums.
Quote:
Originally Posted by City Guy997S
I hate to hurt your feelings but with your math the original poster would be making 400K a year.....
400K X 50% = 200K.
I know that isn't what you meant to say, but you would be incorrect with your math.
Quote:
Originally Posted by tewest86
Sorry, but I have an Engineering degree with tons of math. $200,000 x 50% = $100,000. I said TIMES 50% not increase by 50% which is still $300,000.
I guess CityGuy997S interpreted "stated income" as what the OP makes in actuality, which is strange since I thought it was obvious from tewest86's post (and the language in general) that tewest meant the number that the OP stated in the forum.
Or in other words, whatever number is put out there, cut it in half; don't double it.
$200k right out of college is pretty insane. Most hot shot Wall Street kids from the Ivy League schools don't even roll that kind of dough right out of the gate. The top Big Law jobs in NY pay $160k and those are rarified positions.
$200k is not that unusual at a top IBank/PE/VC post MBA assuming a decent bonus.
The $160k at top law firms is only salary. At a few of them bonus can put a first year over $200k.
Not a lot of people in these categories - probably in the hundreds or low 1000s per year - but they do exist and there is a fairly clear pathway from the top law and business schools to these positions.
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