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37 / 13 years / 215K / PDX
Typical tech consulting salary in uk for 3 yoe?
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IB, big law, consulting partner, specialized medicine (eg cardiology) for the “risk adjusted/highest probability” paths
The paths exist but are long, competitive and arduous. That kind of income doesn’t come without sacrifices
Yup, biglaw is the best answer if you are just looking for 750k. Do well at a good law school and be able to cope with biglaw hours for a decade and you're set.
But the upside is limited... biglaw is good for the risk averse, but a lot of the other paths mentioned here are much more variable and could pay off huge.
You won't be getting a massive payday from your startup options or huge bonuses from your PE funds performance, but you also won't ever make "only" 250k because your fund shit the bed or your options expired worthless. Lawyers always get paid regardless of outcome.
The only mega rich lawyers are plaintiffs lawyers who got cuts off mega settlements (like the tobacco settlement)...the only biglaw people who might have private jet money are maybe a handful of true rainmakers/named partners.
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Top software engineer 🤣. Only need to be 3 levels above entry level at FAANG.
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The argument is: 3 levels above entry is MD, we’re a very flat organization.
So... back to the OP, 3 levels above entry at FAANG you’ll get 750K. At AP you do as well.
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Gme
Narcotics wholesaler , you’ll have to work your way up from street dealer first.
And it’s tax free... all in cash.
Boyfriend was offered that starting as a doctor at 35...but that was a super long road🤷🏻♀️
My wife was offered 600k as a gastro after her fellowship
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20 million in dividend stock.
Start a business
STC1 said start a biz, not a practice.
There are lots of opportunities out there and some small biz owners make consulting $$$ - and they aren’t near as smart. They just take risks. I know a guy that has a painting business that makes over $1M/yr.
i’m just working till I hit my $ number so I have enough capital to start. you can always come back to the rat race.
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Consulting partner 😅
True honestly. If you are good at maintaining relationships, networking, and picking up new skills quickly, it’s not out of the question. With the up or out mentality, you’ll know kinda quickly if you’re gonna get there. I’m planning to get to M, then assess
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Run OF for multiple other people...
Hedge fund
Reliable?
Def starting your own business.
You can make a lot of money doing not so glamorous jobs. Owning a couple car washes, insecticide, heating and plumbing companies, hell even food trucks, in an affluent area can add up quick.
I know a guy who started and grew a window washing company. Private drivers and chefs for every kid, $5m house plus vacation homes, dude was loaded.
Alternatively you could own a more glamorous company and make even more 😁
That’s a tough one because there aren’t a ton of jobs that pay that at any age. I’d probably go with lawyer but it’s not ‘reliable’ by any means.
I would say reliably after some success is starting your own business. people always go straight to start-ups when they think new business.
You will be surprised how much average retail stores can bring in. My extended family (uncles, aunts) owned 7-11s, Dunkins, and other franchise businesses (even fro-yo). They were able to go in once a week but have good managers and sit at 700k+ a year ...
SBA loans are easy to get for certain businesses too. I have been thinking myself in a franchise now to invest and have an operating partner.
C2 - you are thinking of paycheck protection. SBA still offers 504 (real estate) and 7A (business loans - I think the designation has changed) to those who are starting businesses.
Medical specialist positions: Surgeon, anesthesiologist, etc are where it's at.
Partner at a law or consulting firm is not reliable because only like 10% or so do it.
Executive management positions in large corporations are a tournament.
Engineers earning this much in big tech are straight ballers and were probably born a little bit different. 99+% of people don't have their innate aptitude.
Entrepreneurs are more likely to fail than succeed.
If you're really good at investing, you can get there earning $200k/yr and saving all your money.
I earned that much salary + investment gains two years. One was TSLA + salary. The other was BTC + salary. Next year I will likely not repeat this 😅 whereas the brain surgeon likely will. What I have going for me it's that I'm perfectly happy living in an apartment eating beans and rice so I'll be richer in time much sooner than him/her.
My mom’s an anesthesiologist and a partner in her group and does not make anything close to that. But she’s in NC so yeah.
Inheritance / Sugar-person / lottery / oceans 20 / law suit / phishing / dictator
Some quick suggestions. Hope this helps.
Feel free to reach out in case you have further questions
Regards,
Consultant
Buy an existing business with decent cash flow. Use PI skills to improve operations and ultimately drive sales.... after a few years you will likely have a strong, sustainable business that achieves your income criteria.
Why do you think you need that much money?
OP never said that they needed that money.
At that point you’re either a specialized doctor or own your own business (includes partnerships like law firms, consultancies, etc.). Also doable if you and your partner both are in executive positions / 7 years plus MBA.
When you get the cheat code, pass it on; I just know I’m playing wrong.