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Rising Star
There’s a big unquestioned premise here that one’s parents make $200k+ (If you peak at M/SM, you’ll likely be somewhere around $200k TC eventually). The median household income in the US is a fraction of that, so your reference point is…interesting.
As an M, I make more than either of my parents make or made at their peaks, so no, no weird feelings on my end.
My parents have never crossed 150k combined. In fact, they didn’t cross 100k until about 5 years ago. Ironically it was due to my mom retiring with 100% pension and collecting social security (she worked at one place for 40 years 😵😵😵)
Chief
This post is pretty emblematic of the fact that consultants disproportionately come from well off backgrounds. We clearly need to do a better job of recruiting
Vp1 is just absolutely wrong here
I grew up poor and lived in public housing for a while. If you are the child of rich parents, be grateful for your childhood and don’t stress about not being as successful.
My parents were landscapers. I made more money as an intern than my parents did at the height of their careers. Now in my 30s, my wife and I make 3x more than they ever did.
No. I made more money than my parents combined after being in consulting for 2 years… I had to drag my way out of a tiny ass town and make something for myself because I didn’t have mommy and daddy to give me everything.
Yeah bro you’re definitely privileged I grew up poor! I make more than my parents and I’m an analyst.
I made more money than my parents combined from my first job out of college, so I really can’t relate.
Rising Star
I feel like I have done very well financially in my career (no way near the millions that some ppl on this app say they make). But then today my 23 year old daughter told me confidentially that she just got a huge pay raise today (IB, end of 1st year) and (I didn’t tell her this) her new base salary will be similar to what I was making in my mid-30’s and managing 18 people as a Sales Leader. Good for her, I say.
No, I feel weird that I'm 27 and make PowerPoints all day and make 50% more than my parents ever have. Or that you could work 40 hours a week for a year at minimum wage in this state and earn almost exactly my year-end bonus (not trying to get political and I have mixed feelings on minimum wage but it's a weird thing to help me keep perspective).
My parents aren’t high earners but they make a much more impactful and positive contribution to society. They were always involved when I was growing up despite working demanding nursing jobs and going back to school for their bachelors and masters degrees. They took the time to take my sibling and I traveling every summer to get us exposed to different surroundings. Proud to be their kid and have them impart values that money can’t buy. Money isn’t everything and I’ll teach my kid the same.
Rising Star
My dad was a nurse. In his best year he earned $70k with two jobs, often less. Mum didn’t work. The career counselor at school told me to go work at McDonalds. My parents had better sense than to let me follow that advice.
Dad was a mildly successful Corp exec. I make significantly more than he did. I don’t think I’m particularly special or unique - just hard working, goal oriented and focused on my teams and clients. There isn’t anything holding you back from success if you’re already at a good firm, the biggest failure points are probably behind you.
People should read that last sentence several times till they truly internalize it 👆
Rising Star
Realize that your personal financial benchmarks are yours to set irrespective of colleagues, social circles, and yes, your parents.
I made more than both my parents put together on day one of my job
Just remember that you’d be making even less were it not for your parents’ existing success and support
1 year out of college and I make more than both my parents combined ... please check yourself
Pro
I’ll out earn my parents by a fair amount. May not retire with the same net worth since I’m unlikely to have 40 years of a strong stock market. They saved aggressively early in life.
Making more than my parents combined (inflation adjusted) at my age. My parents paid for 3 college tuitions and we had a normal middle class family house and went on 2-3 vacations every year. And my parents still saved millions in their 401k.
I make nearly $50k more than my dad today.
What are you not able to afford?
This is the American dream flip side. Social mobility goes both ways
Sounds like you have no confidence in yourself, grow a pair, get out of your parents shadow and just do what makes you happy and provides you a solid life that you want to live
I grew up with a single mom in a 1 bedroom apartment. I'm lucky that my future kids won't have to worry about how to pay the rent or cable growing up
Wowww I got hired and started making more than my parents 😂