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After Appraisal, company haven't shared updated offer letter (with new salary), it's been 2+ months now.
If I start searching for new job, will that HR ask about recent offer letter? Or only salary slips are enough?
P. S. Current company didn't share updated offer letter to any employee (in fear that employees will switch 😅) Accenture Tata Consultancy Capgemini Deloitte ZS Associates Fractal Tiger Analytics Deloitte USI
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I guess I’ll be the one to seem greedy and never satisfied.
$300K+. I don’t want to just own an apartment in NYC, but I want a great one. I want my kids in private school. I want private parking everywhere I go. And I don’t want to live modestly.
Born and raised in this city. Grew up in housing projects. I know what it was to buy groceries with food stamps, go to schools with metal detectors, experience one-way 2-hour subway commutes daily, and I want the other extreme now. I was also underpaid as a professional for a long time in a check-to-check existence, and have a lot of making up to do.
I spent a chunk of time as a freelancer/entrepreneur building my own businesses before joining agencies later in my 20s. Didn’t crack $100K until I was in my 30s; $150K post-35. Granted I’m a bit smarter than I was a decade ago, but I hated the uncertainty.
Climbing the ladder feels like the right approach for me right now. As close as I can get to the c-suite feels like the right goal. Brand side opportunities are coming in at a $10-15K pay cut, so getting to a VP at ~$250K before hitting 40, at least, feels right.
110k in NYC as a bare minimum. I like my current apartment, and that’s the number that allows me to pay rent, save money, contribute to my 401k, and occasionally treat myself.
I’m making this now and agree.
Pro
I know this will turn into a lot of people saying “I lived in NYC for $50k and was super comfortable, etc.” but around $115k for a single person let’s you have good apartment and you don’t have to think about money on a day to day basis.
Basically all your bases are easily covered and you can start putting money away into savings and still treat yourself.
Once you hit around $150k is probably when you start feeling like you’re making visible progress with building your net worth if you’re smart with your money.
When I was married our income between both our jobs and my successful side business was around $300k (pre tax… that tax bill was rough) and we literally never thought about money. Neither of us were big spenders but not having any money worries was a blessing… and we were able to save around $600k in around 6 years.
Now I make about $115k between my salary and side business. I don’t think much about money on a daily level but I feel a little pressure that I’m not building wealth
What kinda side business?
I’m in the U.K. but I’d say around 250k and I’d be content. You only make that as an ECD / CCO though.
That would give me enough to save, invest, raise a family, and allow my partner not to work if she doesn’t want to.
I have family friends who are hedge funders / bankers that clear 1Mil+ a year and past a certain amount your life doesn’t get that different / better, just a few more houses and toys
A family and decent marriage seems to be what makes them tangibly happy. Money deffo helps with that though.
@Creative1 that’s a good question, I’m not attaching any fulfilment to job titles or accolades in this industry. In all likelihood, from a statistical perspective, I likely won’t become an ECD/CCO.
My ambition is to run my own business, that’s when I’ll feel happy. Irrespective of how successful it is.
I probably have misunderstood the question, but 250k is probably the number where I’d feel comfortable.
I’d say in most places in the US, $125k single and $200k as a family is where things get truly comfortable and $200k single and $300k as a family is where if you make beyond that it’s more about spending the rest on luxuries vs necessities. Now one can make a lot of arguments about how we can get by with far less or how some cities like NYC drain accounts faster, both being valid. This is just my rough estimate.
Question: shouldn’t you get paid according to the value you bring to the company instead of just what would be the basic standard of living?
It’s a two-way street and you’re the cost of doing business. If business is good (or bad) as a direct result of your efforts, your value should be part of the equation. No?
Sorry but I need what my value is. Should the question have been how much do you need to to live comfortably or what’s your standard of living then? I don’t base my salary off living conditions but instead how much I bring to the table.
$150* because I’m like a sommelier mated with an orchid grower—finding the best ideas/people and cultivating them to grow business.
*high for region-specific salary pricing
Rising Star
How much do I need? Probably 100k. How much will it take for me to do this job? 250k
Are you on 250k now?
We live in Manhattan with a family and our annual cost of living is $120k after tax. So we’d be breaking even each month on a roughly $200-250k ish salary. That’s rent, childcare, food, public school, utilities, subway passes etc.
120k, NYC. I'm making 100k now and feel I'd be more comfortable at that pay level
125k was the magic number for me in NYC - as others have said it was the point where I didn’t constantly feel worried about money. Would have been a little lower but I spent years contending with credit card debt accumulated from trying to live like I already made that when I was making half as much 🤦🏻♂️