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For me, it took going back to school to get my Masters as part of a whole career change in order to start reaching my earning potential. I started in local government work (planning) where I was just getting yearly COL increases and was making under $45k at 33 (started off around $33k at age 24). I took a risk and went back to school (during the downturn) and came out in a not so hot job market and my first job out made a bit over $56k. Stayed there a year and moved up to another career in the housing industry and started out making $77k all in. Made about $82k after 2 years of that and then jumped into my current role with another company (a promotion, now at age 38) where I'm making about $102k. At the end of this year one of my co-workers, a director, is leaving and I'll be taking over her role, so that will be another big jump. All in all taking the risk and changing career fields really paid off as I'm going to be making well over double, and almost triple, what I would have been if I'd just stayed doing what I was doing mulling around in my little safe government bubble!
WITH THAT SAID, I do agree with some of you on here that one major reason why my earnings have not rapidly increased throughout my career so far is attributable to the fact that I've had too many job changes in a short period of time. Some were voluntary and some were involuntary (laid off, discharged). If I were to go back in time, believe me, I would have done things differently. I would have aimed to keep most of my jobs for at least 5 years. If I had done that, I would have been on my 3rd or 4th job now instead of my 6th.
I am not trying to be mean but trying to be objective. You have had many job changes with layoffs and discharges ( are they different?) because you have made no effort to do anything beyond the basic 40 hour week with average performance ratings by your superiors. You have not taken any additional responsibilities or acquired additional qualifications or degrees to further your career. This makes it easier for employers to target you in the first round of any layoff or firings. So you need to improve your specialty or responsibilities if you do not want be in your 12th job at the end of the next 10 years.
Even to stay in your job with good work: life balance requires making an effort to make sure you remain valuable to the company.
If you're an "8 and skate" type employee with average performance, you won't get compensation like a rockstar employee.
Wanting that rockstar compensation without putting in the effort is the very definition of entitlement. Sorry if that stings, but it's true. There are some people that don't have the ability to become rockstars, and that's ok.
Also, "prime earning years" depends on the profession. Accountants and strippers have two completely different ranges of prime earning years. It doesn't really matter either way, just do the best you can regardless of "earning windows" and the rest will work itself out naturally.
........... I do agree with some of you on here that one major reason why my earnings have not rapidly increased throughout my career so far is attributable to the fact that I've had too many job changes in a short period of time. Some were voluntary and some were involuntary (laid off, discharged). If I were to go back in time, believe me, I would have done things differently. I would have aimed to keep most of my jobs for at least 5 years. If I had done that, I would have been on my 3rd or 4th job now instead of my 6th.
That strikes me as being an extremely minimal goal. I recommend you think about how you can advance your career instead of just trying to survive a few years without losing your job.
I disagree, I would say the biggest difference is if he is brilliant then that's why - not anything to do with the field of choice. Not everyone is cut out for a CS/EE degree.
Additionally, personality plays a lot into being successful from a career perspective. It's no secret that introverted personalities often have a tougher time advancing in certain careers. A lot goes into play to be successful beyond degrees. It's more of a self-reflection on who you are and being comfortable with it.
Can't disagree. My son definitely has a warm engaging personality that helps his status with his managers and peers and the ability to solve complex problems is always going to make one valuable.
For me, it took going back to school to get my Masters as part of a whole career change in order to start reaching my earning potential. I started in local government work (planning) where I was just getting yearly COL increases and was making under $45k at 33 (started off around $33k at age 24). I took a risk and went back to school (during the downturn) and came out in a not so hot job market and my first job out made a bit over $56k. Stayed there a year and moved up to another career in the housing industry and started out making $77k all in. Made about $82k after 2 years of that and then jumped into my current role with another company (a promotion, now at age 38) where I'm making about $102k. At the end of this year one of my co-workers, a director, is leaving and I'll be taking over her role, so that will be another big jump. All in all taking the risk and changing career fields really paid off as I'm going to be making well over double, and almost triple, what I would have been if I'd just stayed doing what I was doing mulling around in my little safe government bubble!
And just the opposite happened for me entering safe Federal Government bubble work at age 44. I am an R.N. age 59 with 38 years working in the nursing profession. Twenty two of those years were working in the private sector and 16 with the Federal Government. Despite the fact being 21 years older than you and in the work force 20+ years longer, even with my salary currently being only a few thousand more than yours I still have no regrets taking a lower paying Federal job when I did. What I lost in wages I will get back in a COLA adjusted pension, and that along with my social security and my ability to max out my 5% match TSP/401K during all my years of service, this 3 legged FERS plan will allow me to replace at minimal risk 75% of my gross income for 30+ years beyond retirement. In addition, I will be able to keep my health insurance for life which to me is probably the greatest benefit of all.
I will be the first to admit that not all Government jobs are created equal, but for some employees like myself the real value from my Government employment will come after retirement.
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