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Old 06-10-2019, 04:24 PM
 
24 posts, read 6,387 times
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Quote:
Originally Posted by Dd714 View Post
It's unreasonable for your role of "corporate training" yes. You will never make that in your current role. Remember the moto: "those that cannot do, teach". That's a bit unfair statement but the truth is your role is not worth that much.
You need to advance your role into something value added, managerial, or executive.
That figure was not for corporate training. I was referring to another field. I mentioned earlier in the thread that I didn't make it clear. My OP was a rant.
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Old 06-10-2019, 04:26 PM
 
24 posts, read 6,387 times
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Originally Posted by RationalExpectations View Post
And here I thought it was “those who cannot do, post on C-D.” 🌝
Is this a dig toward me or just in general?
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Old 06-10-2019, 04:27 PM
 
24 posts, read 6,387 times
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Originally Posted by wheelsup View Post
That's fine to tell yourself that but the data shows the higher the income the greater the annual savings in real dollars. Especially above $150k household incomes.
Exactly!
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Old 06-10-2019, 04:51 PM
 
1,827 posts, read 738,468 times
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OP, I did not see you mention what your job in, or maybe I missed it. Anyway, sometimes it's just luck that you land a job that meets all your variables: good pay, good benefits, good location.

There's absolutely nothing wrong with wanting more money. You live a more comfortable life knowing you have money to buy something you want, like a kitchen remodel, new furniture, private school for your children, retail therapy for yourself, eating out several times a week, and still have plenty in your bank account. If that's your goal, then go for it.

Reddit has a subreddit about FIRE, so maybe you should go there. It's a ton of highly driven people and I think you'll find it useful.
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Old 06-11-2019, 12:07 AM
 
1,541 posts, read 399,025 times
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Quote:
Originally Posted by glass_of_merlot View Post
Something that always makes me wonder is. What do people consider great money for the work and effort they put in?
I mean. I see people on here claim they make 6 figures. Then it comes out that they are putting in tons of overtime in order to make that 6 figures. Not only that, but they also have advanced degrees and most likely high student debt.
So is it really that great?
So...is it worth it to spend 50 hours or more a week, everyday of the week, at work to get that extra? Maybe to your family it is and that is great.
So to the OP. Just because people claim they make so much money, consider what they need to do to get there. If somebody says my base pay is a 100k, not including OT's or other benefits such as bonuses etc..that I think is more uncommon.
Doing a bunch of overtime to reach over $100K a year isn't what most people consider a six-figure income. If you apply for mortgage, they ask you to give your base salary excluding overtime. Because overtime isn't something that can be counted on and sustained long-term.

There is a myth that to make more money you have to be willing to endure a pressure cooker situation along with lots of overtime. I can tell you from experience, the more money as a base salary I was paid, the less stress the job was and better treatment by management. This is because it doesn't make sense to waste the time and cause frustration for an employee that costs the company more money. You don't pay someone a lot and then make them unproductive. It isn't about entitlement, it is about taking care of the human resource they are spending a lot of money in for compensation, training and overhead.

For example, if an expensive employee needs a new workstation, monitor, keyboard, chair, etc., they get it without having to argue about it. These things are not gifts. They do this because they get a better ROI (Return on Investment) from that employee. If it makes your life more calm and focus for you to work from home one day a week, they are going to approve this without much fuss. Some companies provide a free lunch for employees, and they do this for their own self-interests because they know it is better to keep employees together during lunch cause they might talk about work.

So when you are looking for positions that pay $100K or more a year, you are looking for total compensation without overtime.
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Old 06-11-2019, 12:12 AM
 
1,541 posts, read 399,025 times
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Quote:
Originally Posted by X7L9 View Post
At some places, they will never pay fair wages. Sometimes you need to recognize when the work relationship is favored more to one side. If I am not seeing substantial raises annually, money put forward toward professional development, as well as work that continues to keep me relevant in my field, it's time to go.
It's true that some companies for the same requirements just pay less. But we all have choices in that regard. I think what is silly are the people who stay at those lowering paying places and complain about it, as if something is going to change there. Management has decided they are going to pay below the market rate for certain or most positions. They still management to produce a product and service, their customers keep buying so they don't seem to feel a higher quality is that important. That's OK, we don't have to agree with them, but if you know of a better place that will pay you more then go after it if you can.
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Old 06-11-2019, 12:20 AM
 
1,541 posts, read 399,025 times
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Quote:
Originally Posted by Deserterer View Post
Oh, the hardships I could suffer with $8000 a month.
wheelsup is correct. You have to be realistic. Going from whatever to $160K doesn't make you a billionaire. It makes things a little bit easier for you. It isn't like you will be living without questioning the cost of anything ever again. Also, keep in mind, if you are making $160K a year so are many of your co-workers, and some making even more. So where you live will be more expensive unless you want to travel 2 hours or more to work each day. The more expensive salaries increase the real estate prices too. That also increases the property taxes. All that increases the cost of living.


Making $160K a year living in an $80K house in the US Midwest, yes, that's a lot of money. But $160K living in a major city, that doesn't go as far as you think. You will still be better off, but you won't be living a rich and famous lifestyle because of it.
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Old 06-11-2019, 12:26 AM
 
1,541 posts, read 399,025 times
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Quote:
Originally Posted by Sunbather View Post
Not necessarily true. I'm an ME - I lived in SC working after college and was making 6 figures (At that point I was 9 years out of school, but I had been making 6 figures for a few years). When I was looking to move to a bigger city, I interviewed at 3 places in Chicago and got offers from all 3. All 3 were flat or less money than SC, and on top of that the cost of living would have been a huge increase. Similar for NYC. It was a big surprise to me.

What I have found is that, due to remote working and how globalized AE work is these days, salaries are much less location-dependent than they used to be and more just job-function related. A job being done in Chicago, doesn't have to be done by a firm in Chicago for example. People shop the Arch, Eng, and Construction nationally if not globally, so it levels out the pay for companies to be competitive. That is at least what I found when shopping around for my big move 3.5 years ago. I thought I would be able to make a big jump in salary when moving from SC to any of the bigger metros on my list and it just wasnt going to happen. I did get small bump in salary with my Dallas job though + no state income tax. So that was nice.
Everything depends on the market rate for the skills in that location. Sometimes you can make more money taking a job in an unpopular area in a small town, because they simply can't get anyone to relocate there to work. There are no set rules about this. Every situation is different.

What young people should be doing, is crafting a career instead of just looking at the money. It won't matter what you are getting paid if you are miserable at your job. I know people don't think so, but any amount you are paid if you are unhappy doesn't seem to be enough. I've known guys who moved from a rural place they lived their whole life and totally can't stand living even a medium sized city, so they moved back there.
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Old 06-11-2019, 12:35 AM
 
1,541 posts, read 399,025 times
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Quote:
Originally Posted by wheelsup View Post
That's fine to tell yourself that but the data shows the higher the income the greater the annual savings in real dollars. Especially above $150k household incomes.
Yes, people seem to forget that the more you make the more you can save in your 401(K) cause the employer is matching your contribution. Also, the more you pay into Social Security, so when you retire your payment from that is larger. And because of a higher gross salary you can afford to buy a more expensive home in a good area which will have a total dollar appreciation value that is higher.

After having conversations with people about this over the years, it seems they don't do the math, they just have an emotional reaction. They take the worse case story they saw without all the facts to make themselves feel better about not going for it.
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Old 06-11-2019, 12:37 AM
 
1,541 posts, read 399,025 times
Reputation: 2882
Quote:
Originally Posted by X7L9 View Post
Is this a dig toward me or just in general?
I doubt it. I think it was an attempt to say something clever.
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