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Hi Fishes,
What will be my in hand salary
Yoe - 4
Additional Posts in Consulting
Taking it to the next level. 🎂😅
Living and working in ey McLean office?
Any 🐠 at #HRTechConf?
How do you figure out who your spirit animal is?
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You probably have a nice chunk of change in savings ....follow your dream my friend #yolo
Agree - you can always boomerang if you don’t like it!
I worked for startup and left it for consulting. Don’t work for the startup unless you’re passionate about what they do. If you’re just trying to treat boredom, there are other things you can do
I did the same thing!
I am 32 more than 10 years of experience and making 120K fml
Don’t know what you do but I’d be happy to backfill once you find that startup
What a post!!! Let me try some hypothetical numbers and you all can correct me. Within the top 5% of population (who make 6 figure salaries), probably 1% of that who are in consulting, .5% of that posted their salaries - and few people are looking at their salaries and judging their lives. I am 43, making 150 base, was making 75 when I was 25, back in the days. If all went per my plan, I prob wud have made double or even triple my current. We have had our situations and to everyone, their own. No regrets, I lived as much as I can. I can jump back into consulting and make prob 200 and then sky is the limit. But having kids doesn't make it easy feasible. Make your own lemonades guys. Dont judge or get judged. To those who are making the big moolah, I can only say 2 things - 1) great job, tough to beat those numbers, 2) enjoy the money when you can, give when you can and follow your dreams when you can
Just started one. Send me burner. I'm in my 30s was making 160k. You'll learn everything about biz. You'll realize that you were just a slave to people way less smarter than you.
Edit: As A3 stated, you'll take a HUGE pay cut (depending on what funding) you come in at. Its a great experience and IF you make it work the reward is amazing.
FinTech
This thread is hilarious.
Half of the people are just like OMG how do you make that at 26 and the other half from MBB, Parthenon, Etc. are all like meh that’s average.
Startups are a paycut if you discount the shares/options. You should be able to get ~$100K base from a series B with $50K options/shares a year. At that stage, it shouldn’t be hard to double your valuation with each round.
Obviously there’s risks, but if you believe in the company that much, you’d have to believe in the startups success.
Even if you're not single, what the heck. I'm polynomial...i mean polyamorous
The conversation should not be about $, especially because OP has no family obligations.
So,... I’ve done 3 start-ups and 4 large co’s including BCG. My joy, knowledge, and marketability went up exponentially from the start-ups. Can write my own ticket in many places. Unless u r uncomfortable w lack of structure and responsibilities that actually matter (eg people lose their jobs and investors lose their $) in a short window - then everyone should do a start-up. Will be hugely impactful — even if it fails u will have won. Cut the cord. Go for it!
This is really helpful and my feelings too that I wanted validated. Thank you!
$575k - 30+ years experience - bored to tears
If you can make it work off of a lower salary, then you should go for it. You may take a pay cut now, but you will most likely receive stock options. If the start up is actually a viable idea then you will see a return on the investment of sweat equity later and may be more then the salary you would have received if you get in early enough (in the event the company is acquired or the company goes public), but will have to forgo the immediate salary compensation. There are also alternative options to sell the shares of stock you may receive to niche liquid Venture Capital firms (again if the idea and the numbers add up). My dad is the CFO of one where he buys secondary stock from individuals (just one of his many sources). They do this later stage though. Start ups are risky because many fail, but the experience of trying to start and scale something is extremely valuable and unique. Go for it.
Here’s a little bit about my experience founding and leaving a startup, rather than another comment fixating on your age and salary, like most of these doorknobs here have made.
Having founded a startup (I was CIO) that is tracking towards (if not already at) a 9-figure valuation, and having left when it was an 8-figure valuation, you’d better believe in not only the product, but also the revenue mode and path to profitability, and the leadership (ESPECIALLY the CEO and their vision).
Working at a startup is a grind, ESPECIALLY for the regular employees. Early mornings and late nights, and no (real) HR department to take up your cause in the event of issues. Most of them fail, so it’s not a guaranteed slingshot to a better job in the future. Tons of hours of work is NOT a solution to boredom (ask me how I know).
I stayed with PwC (was there at the time, but no longer) and took a stock buyout after we had taken on $3MM in funding and had a valuation of about $11MM... when we went from an LLC to an S-Corp, there was an agreement the founders signed saying they would come on full-time (if they were not already) within 1 year of incorporation, or be subject to termination. I chose to stay with a stable company (and paycheck), because that’s what I needed at the time, and although the funding had significantly de-risked the startup, as a founder I saw decisions being made without approval of the other founders around revenue strategies and paths to profitability, and I saw sales guys being hired and given small pieces of equity along with $90k salaries (which is what they would have made at their previous companies on a very good year if they’d been busting their asses). I saw the CEO think about pivoting the business multiple times.
I lost faith in the CEO’s ability to lead, and their vision.
Was I ultimately wrong about the viability of the company? I think so.
They’ve since secured a $50MM line of credit for operations (the finance guys will understand that number is a little misleading as it is debt, not equity), but this past June they also closed an $8MM Series-A, have a Series-B in progress, and there have been buyout talks with some of the industry giants.
In hindsight, do I wish I had gone full-time? Yes. Because I’ve grown to be very frustrated with consulting and I would LOVE right now to be working for a company I helped start and have the autonomy that goes along with that. But... I was a founder and the CIO, not just another employee.
I don’t know that I would want to be outside the founders’ circle at a startup (aka just another employee).
I left consulting for a startup! Was best decision I’ve ever made. I believe that if you follow your passions and kick ass, the money will follow. Do what you believe in!
I was 25/101k at my last firm, but got laid off. But I’m finally back at it again. I’m sure I’ll get higher soon!
LOL you’re funny. I did get hired at another firm, took a bit of a pay cut, but I’m fine with what I have until I can head either into industry or another firm that will pay me more.
You got 175k! Buy some fun to treat your boredom. I don’t even know if I will ever get close to that.. lmao. 31 and barely making 100k
Make some friends and you won’t be bored simple
M3 has great perspective. If you want to go the startup route, be a founder or a very early employee (less than 10) and get a good chunk of equity. Otherwise the upside just isn’t there when compared to consulting. Currently at a startup and realized how much money I left on the table, for work that is just as boring, with no prospects for hitting the equity jackpot if we go public.
It’s honestly not that cool. It’s frustrating, you don’t have the same types of people to learn from, say goodbye to those 10-20 percent raises every year, and say goodbye to real work life balance (your weekends are no longer sacred).
If you want a challenge, start your own thing (I do e-commerce, unsuccessfully for now). Bringing a brand to market is no joke
Couldn’t have said it better 🙌
Did it. Hated the politics and 22 year olds. May just be me but all the 30s peeps at startup felt the same way
In my humble opinion people that judge themselves by income are shallow. It’s what you choose to do with your time that is important. I find much of this chatter quite depressing as it sounds like people are slaves to more money. The one thing you will never have more of is time. Use it well.
I feel like every time someone posts something of this nature, the sole purpose is to elicit the “omg how are you making that much at 26” comments.
At the end of the day, the decision is yours - weigh the pros, cons, risks & upside, pick a direction and follow through with it. Simple as that.
You need to be able to hustle. You might end up with very powerful people giving you chunks of their business along the way and benefitting from a sale. They’ll then want you on your new team. Or, you’ll tank lol. Everything is a calculated risk.
I’m 29 and make 100K lol. Graduated late and started consulting late. Reading this makes me feel like a loser
Another loser here 😣 i didn’t start working til 25 and also had a starting salary of 35k. I would’ve done things a hella lot differently in retrospect... have a colleague who is 25 making my same salary (I’m 33)