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For me, it is hard to say. My income rose steadily from 26 through about 35, then it skyrocketed for a couple of years and then went back to steady increases until I was about 46, at which time it began a steady decline due in part to the recession and in part to life changes. By the time I was 51, I was making half what I made at 46. Since then it has remained pretty much steady, but my quality of life has grown considerably. Maybe I could say 35 - 46 were my prime earning years, but the change was mostly caused by the recession. Also if you consider the number of hours I was working, I wonder if that time would really be prime, or just when I worked the most hours. Might well be both.
32 is certainly not prime earning year range, not even close.
But, I have to say, it does not appear that you exploited that master's at all. I don't have much to compare at that age group but but my son is your age and is over $300k but his master's is an MBA, maybe that is a difference. He is an outlier, I understand that but I would think $200k is doable for the achievers. $100k is almost a base salary for professional salaries these days.
I am not trying to sound mean but something is off here. Your $18k increase over 10 years is equivalent to a 3% annual raise. That is not consistent with a person growing his career. That is a person coasting along. Gee government workers do better than this. You need something to kickstart your career.
You must have a narrow and high end definition of professional salary if 100k is the norm
$100K is considered base salary for professional jobs?! Give me a break. Maybe that's true for management positions or healthcare, etc. But staff accounting roles are NOT going to pay a base of $100K. The median wage for accountants in the U.S. is $67K. I make $70K. Geez.
I do live in a higher cost area (Hartford, CT area) but it's not THAT high. It's nothing like NYC or Boston.
My career has never progressed beyond staff level, even after having 8 years of experience. But I generally get average performance reviews.
I got a Master's degree in accounting and everything and started making $52K at the age of 22 with my first job. Now, it's ten years later and I'm 32 and I'm only making $70K, still in accounting. But everyone says that your 30's are supposed to be your prime earning years! So, why hasn't it played out that way for me?! Is this common?
What about YOUR prime earning years? Were they great? Or are you still young and expecting to have good prime earning years ahead?
Is "prime" earning years something that everyone is supposed to experience during their lifetime?
I have always heard your 50s and 60s are your prime earning years.
whoever private messaged me to say that just because their relative got an MBA and is making $200k at 30 that this is the norm.. I am challenging you to provide evidence of this... and don't cherry pick the data to only include elite programs because I was talking about all MBAs, not just Harvard
Our prime earning years started when we moved to higher COL area 5.5 years ago with higher paying jobs. We hit what I consider mid-career by then, too. We were 35 and 36, both in Software development/consulting.
We did change jobs frequently, and found this the best way to grow our income faster. What helped is having solid 10+ years experience under our belts.
$100K is considered base salary for professional jobs?! Give me a break. Maybe that's true for management positions or healthcare, etc. But staff accounting roles are NOT going to pay a base of $100K. The median wage for accountants in the U.S. is $67K. I make $70K. Geez.
I do live in a higher cost area (Hartford, CT area) but it's not THAT high. It's nothing like NYC or Boston.
My career has never progressed beyond staff level, even after having 8 years of experience. But I generally get average performance reviews.
Have you considered changing paths? Building on your past experience in accounting but veering into a higher paying field? You don't have to stay an accountant for the rest of your life.
Your salary should continue to increase in your 30's but your prime earning years (if you're a guy) are in your 40's (apparently women top out in late 30's). People tend to top out by 50 unless they are in management - then you may get another promotion or two before hitting the ceiling of your pay grade.
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