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I’ll start. I quit consulting and moved to an industry role in corporate strategy. I work approx 5 hours per day (that might actually be an overestimation). So effectively, around 100 hours per month.
My total comp works out to around $15.8k per month, so hourly pay works out to $158 per hour.
We’re you in strategy consulting prior? Would love to hear more and glad you making bank with low hours.
Rising Star
Depends on what you're trying to measure/communicate. Often when thinking of salary ppl are thinking of the life/lifestyle they can afford. You could make $1000/hr but if you only work an hr a week, $4k isn't going to get you very far, so total compensation is a more effective measure/indicative of impact your compensation has with regards to its potential/influence on your life. You make more than I do on an hourly basis but I make double your income. If we just share our hourly rates, what's the real message we're communicating?
Rising Star
That makes sense, definitely paints the full picture
$375k tc, avg 25 hrs/wk, 50 wks in a work year so $300/hr
Although salary and rates are important, I think it’s more inmportant to enjoy your work so it doesn’t feel like work! In the end, do you wake up and enjoy what you do?
Not sure I entirely agree. All else equal, sure. Who wouldn’t choose happiness and fulfillment. But people with a family and a mortgage in a hcol area need to support that family somehow. If people are anything like me they would choose to be a better financial supporter over their own happiness and fulfillment. There’s arguments to be made both for and against this line of thinking but eventually everyone does what they think is in their own best interest (and the best interest of the people they care for)
Yeah I guess I would like to see total comp and hours per week too. Just to understand the type of pressure implied for certain amount of money.
Chief
Thanks for sharing your thoughts!
I’m $53 per hr if calculating off of 40 hours, but realistically I make $42 or less per actual hour worked.
150k per year, 30 hrs per week, 48 wks per year. $104.17/ hr (I rounded up).