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I barely made $31k at 24 because I had to work entry level positions after UG. Breaking into consulting has helped bring my salary up significantly.
But remember, comparison is the thief of joy. Everyone will have their time.
The game plan and direction are your main prob. If you made a plan and worked towards it, you could get there in reasonable time. Focus yourself, figure out what you want and how to get there, and do it!
You need to progress your job responsibilities from supporting (low value work) to owning/decision maker. Reporting can be automated, analysis and recommendations cannot be. You should probably combine up-skilling with job hopping, but job hopping alone will also not help you if you are not growing your skills at the same time
- If there’s a lot of manual work in your job, figure out how to automate it
- As you automate your work, dig deeper and provide recommendations to improve whatever end KPI the report helps support
- Once you can execute your day to day work at max efficiency, then focus on deepening your knowledge of a particular industry or technology. Deep technical expertise + the right perspective to make decisions is your best shot at breaking into 6 figure job
- As you gain trust in your recommendations, this is the point where you really need to have strong soft skills and organizational skills. This along with your deep technical/domain expertise gets you into decision making roles and where you start getting closer to a 200k job
- Once you show you can own something smaller, it’s about continuing to grow into bigger and bigger ownership. Your leadership skills will matter a lot, because the company is paying you not only to make the right calls, but to also build more “clones” of you, since up till this point you have been very impactful to the organization
- Once you have the high in-demand skills to be the go to person to solve “any” problem, then focus on getting a job where you get significant equity. To earn big money, you have to embrace variable comp
Yep feel free
Have you found consulting jobs you are interested in? Have you tried LinkedIn stalking to map and gap your background to consultants in those fields? Pay close attention to education, certifications, experience. Do you have an up to date resume? Have you had that resume reviewed by impartial 3rd parties? The comment earlier about reframing as less of a doer and more of a driver is key. If you have doubts, hire a resume writer to help.
Don’t worry. The journey of a thousand miles begins with a single step.
Take the step.
Seriously, many other people have traveled the path before you. If they can, you can too.
Work in tech, finance, or MBB/T2. Otherwise you’ll be the poorest of the bunch in the white collar crowd.
Comparison is the thief of joy
Chief
dm me if interested for referral
24 - 40k
27 - 155k
Got my MBA.
This is the way
At 24 I was making 25k base and commissions based on IT sales. I worked my butt off to get another 10k in commissions. I would have lived to made 54K.
You’re probably staying at the same place too long. No jump, no raise. It is what it is. When you are under 35, move every 3 years if you can. Managers don’t get paid to be sure *you* make more money.
On a related note, beware that consulting thing where management tells clients that we’re all top shelf/top dollar but treats the consultants like they’re lucky to be employed and will never find another gig. It’s all nonsense. All. Of. It. It’s a technique.
Nothing wrong. At 26 I graduated undergrad.
26 - 30k nonprofit
27 - 37k local government (no annual raises)
27 - 41k local government (no annual raises)
30 - 50k Micromobilty Operations
32 - 75k Tech Sales (low wage to get “industry exp” will jump in 1.5-2.0 years to double this )
Was always taught to take experience instead of salary. Struggled for a bit but the experience is paying off as I swapped from leadership nonprofit community outreach work -> government -> tech operations - tech sales. It’s really discouraging to see others with such high salary’s but build your experience (not at the cost of almost being in poverty), grow and you’ll be able to pivot elsewhere.
Focus aggressively on learning and executing delivery well. The money will follow your performance. If you feel long-term frustration being under-compensated, then let the market determine your value and apply for a few jobs; if you don’t get better offers then you are being paid fairly.
My gut reaction is you don’t have enough experience to be worried about money and you shouldn’t benchmark anything against these forums. Right now you should be learning and willing to take lateral moves, pay-cuts, or even relocate if it paves the way into the right specialization or opportunities.
Your 20s are for experience, your 30s are for making leaps in compensation.
FWIW I wasn’t making very much, 37k at 24 in 2007. When the market crashed, my friends in private equity, consulting, and fin svcs were mostly laid off. I kept my job at a fintech startup and because of that experience(working my arse off, wearing so many hats, and managing teams in my early 20s), I had an easier time getting interviews for, and growing into, more senior leadership roles starting in my late 20s. I also followed my curiosity rather than The Path, and that gave me experience with things like human-centered design before it became really popular so I could make a career change. When it became popular, I was very fortunate to already have experience.
Note: When I began earning multiples of my starting salary, I was not very smart and lived paycheck to paycheck. My spending was compensating for being miserable in my new job and the very toxic environment that went along with it... and I didn’t have much to show for it. Many of your peers earning more than you are, and likely many of the people here in this app, are suffering from really toxic work environments and lots of stress.
I ended up leaving, taking a temporary pay cut for a different job, hired a fee-based financial planner who I had to be accountable to, and found a few hobbies that helped me channel job stress into feeling and looking better(running, cooking, biking). Guess what? I saved more and enjoyed my life a lot more even though I was earning less. When I took my next big job with a much bigger paycheck, I was able to do a lot more with my income, take better care of myself and establish my FU Fund. My FU Fund was several months of living expenses saved specifically to give myself options when I managed to take a position reporting to a total sh*thead in an extremely dysfunctional organization. The confidence I got from my FU fund, plus all of those skills I acquired in my 20s while not earning very much opened up some amazing opportunities while being a relatively happy and healthy human.
I hope this helps.
Jumping will get you there.
20 to 24: 42k to 62k Jumped to Consulting
24 to 26: 85k to 101k Jumped to a diff consulting firm
26: 145k (will stay for a while).
Im here for a good time, not a long time
Rising Star
With one job hop I went from 76k C @ D to 140k SC @ EY. All you gotta do is hop
At 24 I made 29k. Developed my technical skills and moved to a more urban area more than doubled my income by 26.
Get an MBA for a top school
I’d say yes, however I did a working professionals MBA. My understanding is EMBAs typically don’t jump after they graduate. They are sent there by their firm and then promoted internally after. Again my own impression. I’d invite others who have done the EMBAs to correct that.
You’re 24, you’re not doing anything wrong!
$60k - 24
$81k - 26
$109k - 29
$119 - 30
$126 - 31 (wish I jumped)
$133- 32
$145 - 33 (should have jumped)
$250k - 34 yea jumped
Don’t worry. I made 55K at 23. 67K until 26. 95K at 29.
I am 25 and will be 26 in 3 months. I only make 97 a year as my base. I would agree with other fish that keep switching job increase my Market value a lots
100k at 25 years old is darn good income. Please don’t say only.
23 - 20k
24 - 32k
Switched jobs
25 - 80k
28 - 150k
31 - 200k
Run your own race.
Rising Star
Is this base
2016 - $18/hr
2017 - $25/hr
2018 - 72k per annum
2020 - 120k per annum
2021 - 2 remote full time jobs (135k and 140k) per annum
All Base salary!
SWITCH JOBS!