{ "media_type": "text", "post_content": "Anyone else get depressed about salary when comparing to peers? Have a classmate who just signed onto a $2m / year job at the hedge fund, meanwhile I’m a M3 making like $220k all-in which feels (con’t", "post_id": "5c4f9f99b3bbf30014cb81ac", "reply_count": 81, "vote_count": 19, "bowl_id": "58f0df008ad7250010f8c590", "bowl_name": "Compensation" }

Anyone else get depressed about salary when comparing to peers? Have a classmate who just signed onto a $2m / year job at the hedge fund, meanwhile I’m a M3 making like $220k all-in which feels (con’t

likefunny
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OP, Your friend in HF is likely pulling at least 80-90 hr weeks not to mention constant fear of getting canned, no guarantee in performance bonus, and job instability. I admit upon first glance, the $2M comp carrot sounds attractive but if you press deeper, it rarely comes easily and certainly not without its risk. Not that comp isn’t important, but bigger picture to keep in mind is - safety, health, family, supportive network. If you have those squared away, no matter what you’re making in your career, you would’ve found items that money can’t buy. If that still doesn’t help, at least know that you’ll be making more than one more person by the time you’re my age (I’m 34 and make same as you)

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Real wealth is not about money, it’s about: -not having to go to useless meetings, and do useless work -not having to spend time with jerks and feeling like you have to say “yes” -not being locked into status games and allowing others to claim your time and energy -not fucking people’s lives and wellbeing to make a few extra $ Money is money, I’m not saying we don’t need some to be happy but there’s definitely more to life.

likesmart

I made <$45k for 6 yrs post undergrad. Now independent >$300k

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I have absolutely no sympathy for your “plight"

likefunnysmart

Tell you what, even if you were making $500k, you’d have been sad. For god’s sake, enjoy your life and stop comparing when you have made it.

likesmartupliftingfunny

I’m 28 making half of that and every day I count my blessing as I make more than 99% of the world. You sound like the type of person that will never be happy. Hopefully you’ll never have to know what’s to make <40k with a family.

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Compare yourself with people earning < 220...

likefunny

Jesus... you are making $220K and feel poor. I know we need to compare against peers, but are you really that far behind? If you want more money you need to create a business, not work for others

likesmart

I'm 40 and you make almost double my salary.

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Someone you know will always make more than you, guaranteed. An exercise in futility to get depressed over it

likeuplifting

220 is a lot for M. That hedge fund manager will probably get canned in a year. Grass isn’t always greener

likefunnyhelpful

Yeah but here’s the thing that consultants don’t get. $2M In a year beats $220K for 5 years.

likehelpfulfunny

I’m 32 and you make double what I make I never compare to my peers as we all have different paths. That person makes 2M/year but probably works 24/7 and playing in snow all week. But ijs🤷‍♀️

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No one ‘signs on’ to a 2M job. Chances are you friend is grossly exaggerating. But even if not, that pay is all upside - it’s based on performance, it’s not like a hedge fund is paying this as a base salary

likesmart

Agreed, unless he’s a place kicker

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You know it I bad when a group of consultants are telling you it isn’t all about comp and go find your passions lol

likefunny

dude

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...quite poor for NYC. 30 years old, seem like I’m way behind my finance friends, kind of regretting the whole consulting decision....

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Pathetic attempt to bait people so you can brag about how much you make when no one cares

Only be depressed if you believe you could / should be in that $2m / yr job and you’re leaving money on the table. If so make it happen. If not, live YOUR life.

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Weird flex, but okay...

likefunny

Humble brag

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How do you live in such poverty? I would have to cut back my champagne imports at 220

likefunny

You should read up on “Hedonic Treadmill"

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