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Strategy& fish - i’m currently recruiting for org strategy. Ive talked to associates (in the healthcare practice) and theyve mentioned that it doesnt matter whether youre in corp strategy, org strategy, etc and that you’re pretty much pooled by industry when it comes to staffing.
Can someone confirm this? Also, what do you expect the restructuring to look like?
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Save 50% of every raise.
You won’t notice because it is an increase. You still get 50% for you. Income increases can dramatically accelerate your wealth, as long as you only grow your cost of living at half the pace.
You are on a great trajectory, just focus on being excellent in the market and keep it up!
While I like your logic, this means I'm saving -2.8% year over year, on average, mostly because my yearly raises have been around half the cost of inflation in my jurisdiction over the last 10 years. It's a bit disheartening, but it seems to be how employers are playing the game these days.
Rage bait 😂 but if true, you’re in for a rude awakening. Salary of $65k to $500k in 5 years is kind of silly (basically hoping for lottery level luck). Solid current net worth fwiw, not “behind” average American (or world). But depends on who that is compared to. Reality is you’ll always be “behind” someone else, so you need to find your own target for yourself and what you want to achieve (retirement, financial freedom, etc). Don’t worry about others, doesn’t impact you anyway.
On $500k again, MAYBE could be hit with total comp (through equity, bonuses and or generous commissions) if you switch to some really high value role/job tomorrow. Already pretty unlikely though even for total comp. just salary of $500k is even less likely.
Shoot for the stars though kid!
Industry with quick comp ramp
I make 5x your salary and have a lower net worth at same age. Do with that info what you will
Living in NY makes that even more unbelievable. Even being extremely frugal, your taxes and expenses are much higher than most.
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Another tone deaf remark from a kid whom probably makes far more than their objective output is worth, trying to implicitly flex about their “low” salary. I make 200k in a HCOL and am 10 years older and frankly, I couldn’t be more thankful. People have it significantly worse than I ever will and I’ll never feel like I’m “behind” in life for not making half a million in my mid 30s lol. I rarely comment on these flex posts but what a truly asinine comment by, in all likelihood, a clown.
Behind whom?
Salary of 65K is low. On the other hand, network of 200K is quite high. Going from 65K to 500K in 5 years is impossible unless you just recruited into megafund PE or some other equally unattainable role
Time to ban these posts. Is there a moderator or something here.
How did you get the 200k net worth? You’ve been working for what 3/4 years maybe, and your income obviously started below 65k. So if that’s your position now and it’s on your own, you’ve maximised your potential with the cards you’ve played imo.
Went back to school
Whether you are ahead or behind your peers, you are where you are. Just keep at it.
Chief
Great net worth at that salary level and age 🏅
Seriously.
I was at 500 at that age the next guy is at 700 at that age
For what it’s worth I made 90k at 29 and make over $500k cash at 36 - so it’s possible
Lucked into private equity after business school
5 years ago I was making 65 k entry level, now I’m making 315 k
I do aswell if possible! My LinkedIn is http://linkedin.com/in/aravinthan-rajagopal
I’m 29 and only have $100k net worth, but my wife and I also had a baby this year. Everyone has a different journey.
Maybe focus on increasing your salary first