At what point is "enough" money for you annually?

When does grinding for a higher salary start to pay diminishing returns?

Is moving to a lower-hours job actually worth the pay cut?

like
Posting as :
works at
You are currently posting as works at
Highlighted IconHIGHLIGHTED

Yes for me - I took a 25% pay cut for a less stressful job and I am much, much happier. Happiness has a price tag imo. I used to revenge spend on a more lavish lifestyle but now I don’t feel that need because I’m not frustrated.

likehelpful

150k year + happiness = my goal

likesmart
Recent IconRecent

Ask my wife.

likefunny

Research the concept of “hedonic treadmill”. When I was 18, I thought $100k was the magic number. When I was 25 I though $200k, now I’m 32 and think $300k is the magic number.

like

Money is NOT everything! You know what everything is? Your health. If you don’t have good health then u have nothing. Hopefully you won’t find out the hard way that it’s true

like

60-80k :-)

likefunny

Key takeaway: the magic number is different for everyone! Could be higher or lower than 85K

like

4m - can roughly expect 5p returns each years. That’s 200k. More than enough to do what I love and not have to work a second of the day

like

This is 4m in the market. Salary will have to adjust to get me there asap

likefunny

For fellow econ nerds, this post is describing the law of supply. In this case, supply of professional labor.

like

Laughed out loud at "in the wild"

funny

It’s not about how much you make, it’s about how you spend the money. If your happiness is contingent on material goods, the ceiling can be endlessly high. If your happiness is hinged on experiences, research shows ~95k (~110k adjusted for inflation) is the point of diminishing return.

like

🥴

Post Photo
likefunny

In France we usually say 75k€ is the happiness wage. You earn 4 grands a month after taxes. School and healthcare is free here... If you don’t live in Paris it’s way enough

like

Enough for me is just being paid what I feel I'm worth compared to my peers at the same firm. I'm happy around 120k, but that's closer to the middle of my pay band than I'd like it to be.

like

10k/month after tax, keep the bills under $6000/month, and use the rest to save and invest, in half way there.

like

I think the issue is that people usually fall into lifestyle creep as their salary progresses. Wanting to pay for elite private schools, fancy vacations a couple of times a year, expensive high-end cars, etc... money will never be enough until you begin to learn how to detach yourself from these arguably unnecessary desires.

For me though... probably $175-200k would give me the lifestyle I’ve wanted since I was a kid.

like

“Elite” private school is definitely not necessary. After going to college and seeing the vast majority of other peers from very middle class or poorer backgrounds make it, a good public school or normal private school (acknowledging some can be comparable in price) will do just fine and allow you to get into all of the elite colleges. Money only helps a little if your kid is stupid, lazy, and bombed their standardized tests

like

The number changes once you reach it. 100K, 150K, now making over 200k and think my number is 400k. I am happy but now it’s a matter of staying motivated for the (highly generic) grind.

like

I stay at 40-50 hours per week. Sometimes more, sometimes less. 400k will motivate me enough (then my number will change again, hopefully).

I’ll let you know when I find it. All I ask is to make enough money to prove that money can’t buy happiness.

like

$1M per year in HCOL

225k is my floor if the perfect job appeared

I make far more than that now, but it doesn’t really change anything significantly from a day to day perspective ( obviously LT and retirement savings it does).

More.

Enough to spend money without really worrying about it. Not designer clothing or super fancy cars, but enough to get a nice house and go out to eat and a couple vacations a year. Ideally can do this without a full time job. So for me, enough is when I can do it by living off my investments and properties.

250 k in nyc is what would make me feel comfortable, happy, stress free.

Related Posts

For an Internal Nokia IJM, what salary Range is offered for a JG8 to JG9 role.Is there any limit to the Offer on JG9, if JG8 CTC is 16 lacs per Annum.

Making my first job move using a recruiter, is it typical that they are the ones doing the negotiating? Is this standard practice or is it frowned upon to ask to talk to the Company directly to negotiate a higher salary?

like

Congratulations!! You are getting that email, call and a meeting to announce the highest salary you have ever received in your career.

like

I wonder, why everyone is not applying for FAANG and they’re happy with startups or other companies? (Not talking about who are not able to clear the interviews )

likefunnyuplifting

An agency I freelance for wants to hire me full-time. They told me for a Sr Copywriter, 100-110k. I countered with 125-150.

I also said I'm interested in a higher-level title - I currently freelance as a Creative Director of Copy elsewhere (they don't have that title at this agency.)

They came back and said yes to the title and to 125, with a 6 month review that could raise it to 145.

Which is good for Sr Copy, but low for CD/ACD level. Don't want to screw myself over. What to say now?

like

Raise your hand if you’re still waiting for your firm to announce raises 🙋🏻‍♀️

likefunny

How much annual hike PwC India gives to their employees on an average basis?

like

Hello fishes,

capegemini --> 16LPA for consultant/b2 role

Accenture --> 19 LPA + 80K JB

Is it okay if I ask for more than what Accenture is offering?

YOE: 3.2 years
tech: kubernetes/GCP/azure/devops

like

I’ve been a licensed general lines (2-20) insurance agent for year and a half and have sold around 2M in premium, of which most of it is personal lines (homeowners, DP), and some commercial lines business. Even though I’m licensed to write my own business, the sole producer in the company is my boss. I currently make 35k + 15k in commissions (approximately). Is this a normal salary? Or how much should I be making? Appreciate your help

like

How does getting salary info on Fishbowl actually work? The reason I joined was because the video showed people looking at their salaries… But it looks like a lot of people are posting asking for salaries, and nobody is responding to them.

like

Hi, how much can I ask ectc at Rakuten
Yoe 4.3
My cctc 6.3 lpa
Holding of 13lpa

like

Cheil in korea asked me how much I want to make for a junior position. I have no idea what to say.

Any idea?

Any Fiserv folks here? What’s the salary range of your director and VP?

like

What is the Salary for Assistant Vice President (AVP) at BNP Paribas CIB in Regulatory or compliance/Finance ?BNP Paribas CIB

like

Hello Team, Could you please let me know, how much salary will be sufficient to live in malaysia with family.

How much salary can we expect for 10yrs of experience.

I am getting a role at Deloitte USI as solution advisor after 3years of work exp.

My present CTC is 5.5L ...
Is it okay to ask 100% hike in the pre-boarding survey?

like

Any Seattle/Tacoma PI attorneys out there? Thinking of making a move to PI from ID. Would love some insight on what a reasonable base / comp. Structure should be. 12 YOE.

like

If you weren’t in consulting, would you make more or less money then you do now?

like

Hi All

YOE:6.8
DanskeIT (27.5LPA= 24.7Fixed+2.7Variable) vs Value Labs(26LPA fix)which is better?
Technology Dotnet+Azure

Please suggest. Work life balance and project wise which is good?

like
like

More Posts

My professional life at the moment is far from ideal. I’ve been on quarantine (long story, but a good one) for the last seven years. Royalties from my books don’t pay the bills. My entrepreneurial pursuits remain hampered. For the interim, I’ve been looking for a remote opportunity where I can leverage my skills in marketing, sales, social media, and elsewhere for a decent sum. I have a social media presence which, in recent years, reached millions. There has to be something exciting I can do.

like

Any Ramboll fishes here!!
I need your help for a referral. I have the job I'd. Can anyone please help...

like

Any agencies hiring? (Planning on staying away from Rogers and pharma)

like

Hi guys,
Got offer my Tiger analytics for the role of data engineer. How good company is tiger and team member are supportive or not?
What is wlb and does they fire employee as this is my first switch.

like

Been working for a couple & have rarely hit the gym. can you provide tips on ur workout routines? how do you have energy/motivation to go while working? I know mornings are best but can't sleep early

like

Looking to do a virtual wine tasting with one of my work teams. We are all scattered throughout the East Coast. Is there a website that will ship out the wine tasting to everyone and then have a wine pro that can join a meeting with us?

like

My agency doesn’t submit for awards, and I’m not saying I’d win if they did. But as much as we say awards don’t matter, it feels like they do at a lot of places I’d like to eventually work. How difficult is it to submit on my own? Or am I better off finding a place that does submit and is willing to hire me without awards?

like

Curious here - my buddy just became a “Director” of Business Development in a LCOL area for a professional sports team. He likes to brag about how much he makes but I don’t really buy it. Obviously it’s subjective depending who you ask. Also, “director” gets thrown around willy nilly now. Any idea what someone like this makes? Seems like a couple years ago he was just selling tickets which kind of sell themself. Wondering if I should go do something similar since I’m sales oriented lol.

like

Do you get bonuses in industry?

like

For those that have been laid off, how’s the job search going? Have you gotten offers fairly quickly (I.e. 2-4 weeks after getting the notice)?

like

Is there any distinct cultural differences in how the Restructuring (incl. Turnaround, Value Creations) team work between the Big 4?

like

Have an internship next summer in a vertical I don’t want to work in and is completely unrelated to where I want to end up. However the firm is strong in PE. To try and break into that side after my internship at the same company, would it be more beneficial to take on a (very small boutique) PE internship or an IB internship this fall?

like

How many leaves are there in TCS in an year ? Anyone can share lastest breakup for the same ?

Has anyone moved away from NY and successfully resigned from the NY bar? What are the consequences if you just don’t pay? The requirements are insane to officially “resign” - draft a motion, pay a fee, send proof of service - I honestly do not know what this nonsense means, I’m not a litigator for a reason. Is there someone I can pay to do it? Should I just pay the $375 to stay active to avoid this nightmare?

likefunny

I did not see that coming. I was convinced Viserys would croak at the finale, last 5 minutes.

like

Recent graduate with Bachelors of Health Science in Workplace Health and Wellness. Currently working in a Healthcare job but as a client service coordinator. Really would like to get a job in my field. If anyone has suggestions/recommendations please share. Within GTA would be great if not, remote anywhere works.

Hi! I'm currently interviewing (3/6 interviews so far) for for an appeals manager role for DME. The job entails not only to bill for dme (cms 1500) but also to follow up on any denials or appeals, amongst other administrative duties. My questions are is it typical to have 1 person doing both the billing and denials within a new vertical for all ins.? How difficult is billing for dme as I only have experience in gyn onc and lactation billing? What's a fair salary? I have 8+ yoe in rcm, no certs.

Any experienced nurse practitioners in NYC area looking for a hospital based NP position in Manhattan, DM me. Pay from 130-150 ish. Great benefits

like

Has anyone tried to enforce a European non-compete/non-solicit (both foreign choice of law and venue) in the US? The employee moved with the company to the US 7 years ago and was never provided with an updated agreement. Assume for the sake of argument that the agreement is enforceable in the country of origin.

like
like

Additional Posts in Consulting

Will companies know that you got laid off if they do a background check?

like

Monday Morning Motivation:

Post Photo
likesmartfunny

A&M PEPI fishes how is the WLB at your firm ? Was reached out by a recruiter, work seems interesting but I’ve heard that you guys work A LOT and when in a case it’s 12-14 hours of work each day. Please provide honest advise, I don’t want to waste anyone’s time if it’s not a good fit.

Thanks 😊

like

Best consulting companies with exposure to the blockchain / digital assets space?

like

I don’t think I’m qualified for a lot of jobs. I don’t know basic functions. How does one “fake it til you make it” in industry and not get fired?

like

Time to beast mode this spreadsheet #deadlines

like

Best intern stories thus far....GO!

like

Should I get an early start on work this Sunday evening or say “eff it” and have a glass of wine? Thinking about deadlines this week and getting anxious about how much there is to do 😕

like

Any good books or recommendations on sales? Sales tactics trips and tricks?

like

Thoughts on Wealth Management as an industry? Offered a role to work under a senior FA and eventually take over the book (~$800M AUM and growing). It sounds great, but I am worried about the disruption this industry is facing with Robo advisors and other low cost, DIY options. I’d want to make sure the clients stay through the transition, and I don’t want to join a dying industry. Thoughts and advice?

like

Mckinsey fishes - I have a first call with a recruiter next week. What should I expect from the call? Any insights on the interview process? Thanks in advance.

like

Do you have any book/video/whatever recommendations for how to be a good manager/lead? I'm trying to make the transition and get more responsibility

like

What are the most overused catch phases in consulting? Bonus points for double entendres 😉

like

Should I get the iphone X or wait for the next iphone?

like

My firm really values work life balance. You can be successful in consulting and still work 40 hour weeks. You just have to set boundaries with your manager.

Post Photo
likefunnyupliftinghelpful

Seeing a lot of BCG hiring topics here lately. Something unusual (firm trying to grow, too many pandemic related projects) or BAU?

like

Someone reached out to me on LinkedIn about becoming an author on the side. Has anyone heard about such a thing?!? The person said she’s worked with 800 consultants writing their books and marketing it for them.

like

When they say utilization doesn't count for the month of May/June what exactly does that entail? I'm assuming being on the bench for those months will still show on personal utilization reports...

like

Planning to do a PRM or FRM qual. How useful is it to move from Big 4 Risk and reg consulting to industry? Finding it hard to get anything other than non-PM roles

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal