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Judging by the fact that many 20-somethings in DC are still living with roommates or living at home with the parents or living in some dumpy, closet-sized studio apartment; I don't understand the expectations of $100,000+ salaries either.
Sure, if you are a corporate lawyer coming out of law school or an entrepreneur of a small technology business then you will be rolling in a six-figure income. If you are a helluva good hustler in the finance investment business then you will be making $100,000+ easy just on commission alone. But even talented IT engineers take many years to hit the six-year figure salary mark. Many positions demanding skills and intelligence are not instant tickets to the champagne and Mercedes lifestyle for the under-30 crowd. Takes years of dedication and the right career moves to reach the Big Money goal.
And last of all, if you are so concerned about making $100,000 and up at such a young age then maybe Washington, DC is not the best professional and personality environment for you. You might be better suited for NYC, San Francisco or LA with that mindset.
That's not what I asked though. I'm already making 90k as a 28 year old business major and will get a bump to 107k next year. Most of my friends are making upper 90s in their late 20s in a variety of disciplines. In any case, I was just wondering how long it normally takes people to make 100k in DC.
That's not what I asked though. I'm already making 90k as a 28 year old business major and will get a bump to 107k next year. Most of my friends are making upper 90s in their late 20s in a variety of disciplines. In any case, I was just wondering how long it normally takes people to make 100k in DC.
By chance, are you working for the Gov on a career ladder (e.g. GS-X target GS-X)? It sounds like you are going from a GS-13 step 1 to a 14.
I ask because you're post sounds like a humble brag. In the real world jumping from a 13 to a 14 in a year is non-existent. A case of being born on third and thinking you hit a triple.
don't kid yourself. a degree is just one piece of the puzzle like anything else (experience, skills, etc.). To think that alone determines how much you can earn is silly.
By chance, are you working for the Gov on a career ladder (e.g. GS-X target GS-X)? It sounds like you are going from a GS-13 step 1 to a 14.
I ask because you're post sounds like a humble brag. In the real world jumping from a 13 to a 14 in a year is non-existent. A case of being born on third and thinking you hit a triple.
Correct. Exactly why I'm asking what it's like in the real world and why I was curious what it was like on the contractor side. Not meant to be a humble brag by any means, just moreso curiosity as I'm thinking about the career projection if I were to switch sides.
Everyone is someone's toll unless you have your own company in DC, pulling heavy contracts from gov. You are basically making somebody else's dream come true.
$100k in major city is pocket change, you're the new low middle class, and especially in DC, for what you can make in just 5 years as 8(a) business working on set asides at $1 b +.
this is the internet. any discussion concerning salaries or penis size is going to be wildly exaggerated. $100k is not the norm for people in their 20s in DC. i make ~$60k at 25 and seems slightly above average or at least in line with what other people are making
this is the internet. any discussion concerning salaries or penis size is going to be wildly exaggerated. $100k is not the norm for people in their 20s in DC. i make ~$60k at 25 and seems slightly above average or at least in line with what other people are making
This is true. In DC, people (especially in this forum) talk about salaries A LOT and they lie A LOT! Though it may be rooted in good intentions the phrase "How long did it take you to make $100K?" deserves a huge side-eye.
At the end of the day, you should be proud of where you have made it financially and strive to be better both in salary and life. There are so many different career paths (even within the government) that asking such a vague and assuming question will always come off as either a low key brag and/or insult to those that are not in the same scenario as you.
Now that I got that out of the way and assuming that you are being sincere and would like to know if it is better financially to go into private industry. You must factor several things when comparing federal to private.
- Private companies reward high performers better; if you can find a niche or a way to make the company more money (i.e. super secret clearance, bring in new business etc.) the limit is the sky not $157K at GS15 (Also, everyone won't be able to google search your salary either). That being said, the work can get ridiculous. The more you want to work, the more you can and the more you can get paid and that cycle repeats deep into the 6 and even 7 figures. That being said, most very wealthy people that I know have a worse personal/family life than middle class folks. IMO
-Also, don't discount benefits. For instance, in the finance industry in IT, pay is average or even slightly lower but 15-20% end of year bonuses are not unheard of. Also, some companies have pretty chunky 401K benefits or company stock discounts which would count as more free money.
-All of these pros come with the con of being a lot less stable. Though Federal jobs are good because you have a lot more foresight and predictability with your career. This is not the case in the private world for better and worse.
I'm 26 and will make $85k this year. Last year I made $75k with a BS in econ. I work for a contractor and not the fed govt though. I will probably get to $100k before 30.
I made $130k a year managing whole bunch of conference centers (In Georgia! It was base with commission - I had a lot of wealthy Mexican clients, and it's funny because I'm not Mexican and can't speak a word of Spanish. I guess I treated them right when everyone was treating Mexicans like **** down in GA then...) right out of the college. The thing is, I was on call 24/7. Didn't even have time to buy things. Quit that job in few years. Job after this? I made $15 an hour making custom frames. Best Job Ever! Still to this day.
I think what I'm trying to say is that work/balance is important when it comes to making good money. Most people don't realize that until it's too late.
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