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How to make 1 million dollars by age 24?
Probably by getting some technical skills like coding.
Coach
Is this a joke?
Where are you starting? If you are low (say 60k now), 70% might be feasible. If you are at 100k, it might not be unless you went to a commission eligible role.
You may need to make a few jumps over 2-5 years to get there. My personal experience with 4 years consulting and 8 years industry:
Industry 2008-2014 (two companies). Salary increased from 29k to 52k. Note the 52k was base, I was OT elig as an analyst and cleared closer to 70k at year end.
Consulting: 2015-2018 (3 companies). 65k-85k base, bonus elig around 20%
Industry 2018-present (two companies): 110k - 150k base. Current role has other incentives that raise the value to about $210k annually.
My background: college drop out, working in a niche area of Healthcare / HR Tech. Specifically targeted roles/companies/functional areas that turned me into a high demand candidate (majority of colleagues from 2012-present are MBA/Masters/Ivy/MBB/Big 4 in a similar age group.
I would also say that a good chunk of my colleagues who fall into my current pay bracket are also about 5-10 years younger than me with less experience. I’m lucky that I specialized and was able to land in the role I have. If you have some branding on your resume (high performing companies, great colleges, degrees) you could hit 70%. You might want to target niche market start-ups or take a slightly elevated role (20-30%) increase in the near future and then shift again in 1-3 years.
Again - the ability to accomplish this will depend greatly on what the end dollar amount needs to be.
If you find out let me know lol