Quote:
Originally Posted by Hondaracer
While it’s nice to throw around the idea that 100k+ jobs are like entry level middle management etc. I think the stark reality is the vast majority of people are never even going to come close to earning that lol
People are also extremely risk adverse given their finances and living situation. I know many people where I work and even with my wife’s company who get paid fairly well, but they 100% cannot risk a career move, even a lateral one which may provide greater opportunity for the fear that there could be a blip in income which heavily sets them back.
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That's a really good point, those who are loyal to their companies or like the stability of staying in one company usually fall victim to being underpaid. Getting 0 - 7% raise a year depending on budgets and performance.
I come from the accounting and finance background and those who are doing really well are the one's who stick it out 1 to 2 years then job hop for a 20 - 40% raise. The moment you hit one year, you keep looking for the next pay jump. People talk about burning bridges and how it looks bad on your resume. I don't agree with this because your coworkers are generally happy you're getting a pay or title bump and recruiters are the ones hunting you for these new roles anyways.
Accounting is a sure way to hit $100K in 10 years, but most do it in 5.
Year 1: Staff Accountant / Junior Accountant - $38 - 42K, in 2022 they bumped salaries to $50 - 55K
Year 2: Raise $45 - 60K
Year 3: Finish CPA designation bump to $60 - 70K
Year 4: Job hop to a senior accountant job $75 - 90K + bonus
Year 5: Raise or laterally hop to another senior accountant / senior analyst / Manager $85 - 110K + bonus
Year 6 - 10: Land manager asap to make $100 - 140K + Bonus (Many retire their career aspirations here if they can find a chill gig working < 20 hours a week, usually government / city)
Years 11 - 15: Land senior manager asap to make $140 - 180K + Bonus
Years 15+: Decide if you wanna slave into director/vp/svp/CFO and $200 - 500K+ or try to make $140 - 180K working < 40 hours a week.