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Visual Storyteller
My life style hasn't changed much, but I am happy that my income has enabled me to help others more easily. I currently support the college education of 13 orphans.
😂😂😂
I am a happy partner at 35. My income is solid.
I have no concerns about money, and as a result can be generous. I'm happy with the choices I've made and have a fulfilling life. However, I have exceptionally limited discretionary time.
I spend a good chunk of time working, spend evenings with my young kids (we have 4), and when they're asleep I am often getting more work done. I usually find time 5 or 6 times a week for a run, and am on the board of directors for my church. I have an amazing spouse who stays home with the family and makes sure our house stays intact.
After all this, I'm done. I don't get any time to play games (civilization is.. Was. A hobby). If something interesting comes up, I likely can't pursue it. And, I watch next to no tv or sports or pop culture.
All in all, I'm happy and wouldn't give up the list above. But, I would love the chance to breathe occasionally!
Wow, you're living the dream
50k at age 30. Wtf am i doing with my life?!
VP, I assume that everyone is giving pre tax income if for no other reason than we all live other places so it is hard to discuss post tax
I’m just trying to know how to get my salary to over 100k....
I’m getting goosebumps coming back here to update that I did move just over a year ago and making double what I was before omg!!!
32 and at ~350k; i like that i never need to check about costs (eg buying organic). I could do with a little less stress :)
EYP first year Manager at $200k base, ~10% bonus. I would think Big4 SM’s could be in the $350k range, particularly the more senior SM’s in consulting arms.
EY11 - you in Restructuring or Growth? $55k bonus is solid!
Pro
I am happy I don’t have financial stress when it comes to spending. I never have to worry if gas prices go up or if the flights are a little pricey. Still value the cost of a dollar though. But if things ever become panic mode, I can afford it.
I pull in 250 as a 25 year old w no other obligations besides myself and my pup (10-15k a year). Able to max 401 and Roth IRA each year. Spend on what I want while saving enough.
Issue down the road will be managing the money - I want to get into real estate. Right now everything in the market and it grows but gives me a headache some days. As they say, mo money mo problems
Im finding this hard to believe. 250 a year. And what exactly is your position? I work as a medical provider and have done so in the past for a few companies and i have never touched 250 a year. What exactly us your take home gross salary (adding the who benefits thing throws everything off. Ucsd typically and kaiser have a good retirement but what i want to know is what your take home to expect.)
My SO makes ~300 in big law and is stressed beyond belief. Hoping she quits soon to take a lower paying job with less stress. Note: we don’t have debt (besides a mortgage) so it’s an easier decision to make for us.
Which LOS^
The more you make the more the job is 24/7. More money means more headaches.
Definitely not universally true.
Before I had the job I have, I thought there was no way that execs could earn the comp they make.
Now that I do my job (CLO at a F500 growth Co), I feel fairly, but not over, compensated.
I am more fulfilled in my work than I’ve ever been, I also carry more stress than I ever thought I could and feel an enormous weight of some of the decisions I take. I am empathetic and I genuinely love my executive team and my department. I feel privileged to get to do what I do. The amount of empathy I carry makes my job harder... I also know it makes me better at my job.
I am happy, but also extremely stressed, I love my job, but wish I had more time with my son. I’m a single parent & I couldn’t do what I do without a lot of help - are you hearing a dichotomy?
According to my W2 I made 2.9m doing my job last year. I’m 42.
Pro
CLO1 you sound like someone I'd want to be friends with
Rising Star
It’s hard to have a low salary (but typically less stress). It’s hard to have a stressful job (but typically high paying). Pick your hard.
I recently took a small pay cut for better WLB (190k salary plus bonus to $175k salary plus bonus). I’ve decided to exit the rat race and $175k is enough for me to have a fulfilling career that also gives me my weekends back and no more late nights. I feel very fortunate.
The most stressed I have ever been at work was in food service making $7.25 an hour
Pre-MBA, I pulled ~300-350 working in PE. Super unhappy and hated life, but did make enough money to pay for business school, which I’m now in.
One unfortunate thing from a career perspective was that I’m not so sure working in PE was worth it, given that it didn’t help advance my career since PE was a temporary detour (not interested in PE in the long term)
What did you do before PE?
Given where I was financially when I started consulting at 26, I do feel significantly better now that I make ~350k at 37. I’m no longer stressed about eating out, holidays, daycare, household repairs, needing to financially help a relative/ friend etc.The peace of mind that a decent salary/savings brings you goes a long way in allowing you to enjoy the time that you don’t spend at work.
I'm also curious how you moved into consulting. I'm approaching 30 and $150k isn't cutting it for my growing family
I’m 34 and a VP at a media agency making $200. I’ve been a VP for years because I’m terrified of the mental anguish and stress of SVP level, a role which I could’ve gotten a while ago if I had wanted it. (SVP = $250+) It’s probably not as stressful as I make it out to be in my brain but point is: I feel you OP. I feel like maybe I’ve reached my money:sanity threshold.
I should add that I’m very happy with the balance of my role and salary. I have autonomy and agency so I feel in control over my schedule and work/life balance for the most part—hence my unwillingness to change titles.
Making over 1m. I’m quite happy generally but of course it’s stressful to keep up with sales targets and internal politics and so on. Lots of frustrating things about day to day life don’t go away although at least now I don’t need to worry about cooking, cleaning, laundry, staying in nice hotels and eating at nice restaurants etc.
Honestly the upsides way outweigh the downsides.
Chief
Haha nope. Not even close.
I mean even at first glance that doesn’t make sense. How long would it take you to save 2x your annual salary? ~10 years right? Why would you think it’d be different for partners?
Rising Star
The benefits of making a decent living (north of top 1% in NY) is of course the financial freedom that my family enjoys, and the ability to have my wife stay home to raise our kids. But the downside is I am effective on-call 7 days a week (was just on a hour long call with a client bc he wanted to discuss markets and his portfolio on a Sunday afternoon). I do enjoy what I do and my current job gives me the flexibility to see my family more than previous ones. Life has been kind to me and I consider myself quite lucky.
This is a fascinating convo and raises a larger point. The current crusade for equality (race gender, orientation, religion, etc...) is such an important one. Imo, the issue is we’re at the point where egregious prejudice is rejected by society (a good thing!) and we are now fighting for subtler progress, systematic issues, subconscious attitudes etc... the problem is making regular people conscious of these subtler points and broadening all of our perspectives. ASM1’s aggressive, brute force approach, imo, is unproductive as it pushes people away, makes them defensive, and inhibits her credibility. I think it is good to point out issues with language that imply certain attitudes but let’s do so in a more respectful and open-minded way ourselves, no? While we have some info based on language used, we absolutely don’t know USB1’s attitudes from a handful of posts. Again, let’s point out and educate without taking such a know-everything aggressive approach...
I thought I was happy making 400k at 40, but actually I'm happier making 160k at 50 with less pressure and more time.
AM1 housing is absolutely crazy here, that is for sure. But we live outside of Wellington, in the wine country and I can take the train in to the CBD (central business district) when I need to (like today - I'm typing on the train ride home).
C4 we also considered Canada and Estonia. Don't have ties to any if those countries either but they had a lot of things we were looking for. New Zealand just materialized faster.
Our 3 older kids are all over - 1 in the US, 1 in Denmark and 1 in Barbados. The one in Barbados is doing grad school research and decided to stay put for the pandemic and will come here after he finishes up.
Pro
Highly paid ($210k) as a single male, but also heavily in debt. Working on it but it’s a slow process to get out of.
I’m incredibly happy with life, but the financial constraints I have do put a damper on things. I’d say it has slightly gotten better due to COVID and the fact that I can’t go anywhere and consequently I’m able to save a bit more while also paying off my debt.
I expect to be in a better financial state in 1-1.5 years.
Enthusiast
Are you able to share what debts? Is it primarily school loans?
$325k salary; $100k+ in bonuses.
Happy? Hardly. Currently on vacation and wracked with guilt for not working. Coming from humble upbringings, it is hard to justify earning this much when I see others also working 16hr days and given an hourly wage. The guilt can be crippling. As can be the incessant work and feeling like I'm not doing enough. There is no real down time, and often no intrinsic satisfaction if I can't tie it back to "helping people" in some way.
Perhaps you should seek therapy? That might allow you to come to terms with how you feel
32 y/o, around 450k last year. Big law life is super stressful and very rarely any family time, which is crushing with small children. As others have said though, the upsides are pretty great. Never really have to stress about having nice vacations, donations or having good food. Would I trade 50% of my salary for a better lifestyle? 100%
Depends. Fluctuates between 40 and 90.
I think once you get to a certain income level, more money won’t necessarily increase your happiness (there’s a study on this). I am about $500k now and started to feel this way around $300-$350k. Even at $500k, we always want more and I have this sense that this rat race will never end unless I make a conscious decision and leave this industry. My happiness comes from outside of work and I’ve decided to take a pay cut to have more WBL. My hours aren’t so bad but I need less pressure so I can focus more on other aspects of my life. After spending 10 months not traveling, I don’t think I can travel frequently for work again.
Pro
And in a high COL city, amounts that seem really high elsewhere (and admittedly are a good living) don’t let you live like “rich” people. My life now isn’t significantly different than when I was making half my current salary, and wouldn’t dramatically change in terms of what I could afford house wise or schooling unless I doubled my current salary. That won’t happen. Knowing when you have enough is an important skill to have.