Does anyone ever look at their salary and think, "damn, I'm a huge failure"? I'm turning 40 next month and I'm only earning $57,000 a year. This is not where I saw myself at this age. How much was everyone else earning when they turned 40?

I don’t believe you’re a failure .. I think it’s relative. If you’ve always been comfortable and happy at 57k, you’re not a failure. I don’t care what society tells you.

I was incredibly happy and satisfied when I was earning 60k a year and living comfortably.

My salary is more than yours but don’t let that be a measuring stick. While I’m earning more, I know my friend is also earning more than I.

Question, are you happy with your living situation? Are you happy with your day to day life (take money out of it) do you find joy and happiness?
Or
Are you struggling every day to pay the mortgage or rent or bills.. or multiple jobs to get you to 57k
If that latter, I’d look through your focus. Certs to get you there.

Write down where you want to go, and create a plan to get you there

Well the good news is you have time to increase it by developing new skills, training , going back to school , ect

Main thing - move jobs. That’s how you keep going up and up in salary.

I’m 32 and make $550k in product management. I have friends that are around my age making $2MM a year in asset management. There’s always someone making more than you.

I'm turning 40 this fall, and make about $325k, but honestly thinking about just finding the most flexible global remote job i can find, $50k would be fine, and living life in my terms.

Money you make isn’t the deciding factor of your success.

Stop comparing yourself to others.

Take action to better your position is the only way. Go take classes, learn how to market yourself better, etc

Reinvent yourself and chase that bag. Many have done the same and been successful.

It’s dependent on your education and experience.
But what concerns me more is the longevity of service vs. amount of salary increase. For example, in my current role 12 years has only provided me with a $40K salary increase over that period.
How long have you been with the company?

Money isn’t a measure of success. But do you know what the number one occupation is for people that hit a million dollars of net worth? Teachers. Yes, teachers, and they make what you are making. Just make sure that you are maxing out your retirement plans and you’ll thrive.

Sure, I think it’s human nature to compare and assess oneself whenever you hit an age milestone. Times like this, it wouldn’t be a bad idea to ask yourself, what are my goals? Did I work hard to try to achieve those goals? What are my skill sets and what skill sets should do I want to acquire?….etc. it could lead to more motivation and light a fire under you if you truly believe you have underachieved so far, and at 40, it’s not too late.

Personally, I was a late bloomer. Didn’t figure out what I wanted to do until my early 30s, while my friends were well into their careers. Left my previous firm 11 years ago and saw my old colleagues were getting promoted to MDs one by one, I was like “damn”, I am behind. But, I had a plan, and was working towards that plan. I am definitely happy with the choices I made, but it took a lot of hard work.

As you’re only 40, consider a different career path. Nursing, law, electronics. What would interest you? I come from a family of four and two got college degrees in their 50s! (My mother and brother.) Both went on to start new careers with those degrees which really contributed to both funds and self esteem.

It’s easy to get caught up in the rat race. If you’re happy and can foresee yourself being happy going forward, you’ve already won.

Comparison is really the thief of joy. That being said, I did chase money when younger and I don’t regret it. I think I would’ve been less happy with less given my lifestyle, but I also don’t regret not having more. Found my happy medium, and hope you have found the same.

I would not refer to you as a failure, however, I do agree that you are underpaid and could be making more. Are you very comfortable in your current role and averse to looking for something new? Staying in the same role for a long time is a surefire way to remain underpaid, unfortunately.
I know that the account manager title is vague, but I am also an account manager and can tell you that you can make a lot more than that if you make the leap.