High Earners - What's Your Profession?

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
Aku09
Posts: 64
Joined: Wed Jan 09, 2019 11:29 am

Re: High Earners - What's Your Profession?

Post by Aku09 »

I am a nurse anesthetist. Make 200k plus benefits. Work 40-50 hours a week on average although there are some that are 60-70 hour weeks. Fair amount of working in the middle of the night or even 24 hours straight.
investingdad
Posts: 1786
Joined: Fri Mar 15, 2013 10:41 pm

Re: High Earners - What's Your Profession?

Post by investingdad »

semperlux wrote: Thu Dec 19, 2019 2:12 am Curious, what kind of hours are the engineers (electric / aerospace / civil / etc...) and software engineers earning >$250k pulling? Are you working banker hours (M-F 9-5) or are you slaving 80hr+ weeks to earn that kind of pay? How is your lifestyle in terms of making it to your kids events, spending time with family?
I'm a chemical engineer. I made 140k with bonus this year and am in a LCOL. My job is a bit atypical as far as type of work. So solid income, but not real high compared to many posters on this thread (congrats to those really high earners, by the way!).

I work a very light week. Probably 35 to 40 hours. But I get my stuff done on time and don't miss deadlines. I'll be honest, I think it helps that my small group is mostly women, including my manager (all engineers). It feels more relaxed and focused on family balance.

My wife's compensation pushed us to a combined ~310k this year. Not small potatoes; combined with some LBYM and a healthy portfolio, I'm feeling quite content.
flyingcows
Posts: 145
Joined: Sat Apr 20, 2019 8:13 am

Re: High Earners - What's Your Profession?

Post by flyingcows »

Software development, my role is more focused on technical leadership but I still do some real work from time to time. TC is a bit over 250k plus some great benefits, I also live in a part of the country in which a nice house in a good public school district can be had for 300k. There seems to be no shortage of opportunity in software which has inspired perhaps too much overconfidence. Perhaps this helps explain the dramatic rise in compensation over the past 10 years in software careers, pretty much across the board in my part of the country.

The strangest part is, I have no idea what my compensation will be 3-5 years from now. It could remain about the same, or it could be 50% higher, who knows? I reached 100k TC back in 2009 and thought that was great at the time, in 10 years it's up 150%. Also, I'm not sure how long I will remain relevant, so I'm saving as much as I can but until then I'm enjoying the ride as long as it lasts, I still love this field :D
Gnick
Posts: 11
Joined: Sun Dec 08, 2019 11:34 am

Re: High Earners - What's Your Profession?

Post by Gnick »

i spent 10 years in various engineering roles at consumer goods brands and suppliers. as a senior engineer i made 60-80k and probably couldve gone on to make 120-140 later in my career. i made the leap to sales when i was 30 and my first year I had a base salary of 115 with good bonus target. all in this past year i made about 160 at 35, and many of my peers are in the 300's. Sales guys with engineering backgrounds do pretty well. also - i work from home and have traveled to 15 or so countries.
StoopieHippo
Posts: 95
Joined: Sat Sep 15, 2018 10:42 am
Location: Seattle, WA

Re: High Earners - What's Your Profession?

Post by StoopieHippo »

Pharmacist. So is DH. I made it up to middle level management before realizing it wasn't for me, he's a pharmacist as an outpatient cancer infusion facility. We make a combined ~$280k/yr here in Seattle.
User avatar
geerhardusvos
Posts: 1128
Joined: Wed Oct 23, 2019 10:20 pm
Location: heavenlies

Re: High Earners - What's Your Profession?

Post by geerhardusvos »

I have an undergrad degree in economics. Was in management consulting and now I am an information security risk professional at a large fortune 500 company. I make $185,000 a year and I’m 29 years old living in the Pacific Northwest. Cyber security, compliance, risk, IT governance, secure software development, cloud security, etc. are a huge field in this area and growing very fast
VTSAX and chill
aas
Posts: 23
Joined: Sun Dec 31, 2017 3:43 pm

Re: High Earners - What's Your Profession?

Post by aas »

Pharmacist in retail 32 hours per week in LCOL. 100K/year plus benefits
retiredflyboy
Posts: 230
Joined: Sun Dec 02, 2018 10:02 pm

Re: High Earners - What's Your Profession?

Post by retiredflyboy »

I was a pilot. Fixed wing and rotorcraft.
Facts are stubborn things. Everything works until it doesn’t.
User avatar
unclescrooge
Posts: 5333
Joined: Thu Jun 07, 2012 7:00 pm

Re: High Earners - What's Your Profession?

Post by unclescrooge »

stoptothink wrote: Thu Dec 19, 2019 1:58 pm
TomatoTomahto wrote: Thu Dec 19, 2019 1:41 pm
tesuzuki2002 wrote: Thu Dec 19, 2019 1:26 pm Does $100K income really fall into the "High Earner" category these days?
For many, it’s an aspirational income level. For others, especially in HCOL areas, it’s a minimum. It’s too bad we no longer do surveys on BH, because I think a multi-dimensional chart of a survey (eg, where do you live, how much do you make, what do you do, etc) would be interesting to discover how BHs differ from the general population.
+1. The answer is always: it depends. At my company (and my industry), $100k+ is well into 95th percentile. We have 200+ scientists, more than a dozen PhDs, and there are a grand total of 6 of us who earn $100k+. Right down the street, my wife (in tech sales), almost every one of her colleagues is at $100k+, some of whom work way less than 40hrs/week and are objectively not good at what they do.

When I crossed that $100k mark it was a big deal for me and even if my wife didn't work, we'd have a great quality of life with my income alone. As far as this board is concerned, I feel poor as heck as a 38yr old PhD scientist, a senior director in a pretty large company making ~$120k/yr.
Only on this board would someone making $120k feel like a loser!

I'm in the same boat... Consistently underpaid my entire career. Some of those reasons were my own making, others were beyond my control.

But I made some investments that panned out and propelled my networth quite a bit higher than my career-wise luckier peers.

Overall, I have an incredibly low stress job, and get to work from home enabling me to spend quality time with my little ones instead of spending 120 minutes in traffic each day.
Helo80
Posts: 1761
Joined: Sat Apr 29, 2017 8:47 pm

Re: High Earners - What's Your Profession?

Post by Helo80 »

unclescrooge wrote: Sat Dec 21, 2019 10:36 pm Only on this board would someone making $120k feel like a loser!
That's both sad and sadly true. If the admins ever solicit our advice on this community and our concerns, I will certainly submit my salty two cents.

(note: non of it stems from jealousy, as I personally have about the sweetest gig I could ever imagine... I'm going into work Monday because I honestly love my job and I took the entire month of December off until this point... and I miss the work. I'm not 100% sure if I'll go in after the 23rd though... I'm not even 100% sure how long I'll be in for on the 23rd... but I need to swing the clubs at least once more this year...)
HEDGEFUNDIE
Posts: 4801
Joined: Sun Oct 22, 2017 2:06 pm

Re: High Earners - What's Your Profession?

Post by HEDGEFUNDIE »

Helo80 wrote: Sat Dec 21, 2019 10:45 pm
unclescrooge wrote: Sat Dec 21, 2019 10:36 pm Only on this board would someone making $120k feel like a loser!
That's both sad and sadly true. If the admins ever solicit our advice on this community and our concerns, I will certainly submit my salty two cents.

(note: non of it stems from jealousy, as I personally have about the sweetest gig I could ever imagine... I'm going into work Monday because I honestly love my job and I took the entire month of December off until this point... and I miss the work. I'm not 100% sure if I'll go in after the 23rd though... I'm not even 100% sure how long I'll be in for on the 23rd... but I need to swing the clubs at least once more this year...)
And what exactly are those two cents?
Coolguy8877
Posts: 61
Joined: Thu Oct 03, 2019 8:41 am

Re: High Earners - What's Your Profession?

Post by Coolguy8877 »

DW and I are both in R&D in big pharma. Total combined is 470k. Started saving significantly in early 30s due to many years of training, but starting to feel more comfortable about our situation now that our salaries have improved substantially since starting working. Aiming for early(ish) retirement.
spae
Posts: 134
Joined: Tue Oct 08, 2019 9:29 pm

Re: High Earners - What's Your Profession?

Post by spae »

.....
Last edited by spae on Wed Jul 15, 2020 2:28 am, edited 1 time in total.
LookinAround
Posts: 252
Joined: Tue Mar 27, 2018 5:41 am
Location: Chicagoland

Re: High Earners - What's Your Profession?

Post by LookinAround »

I was making 140K + stock options in 2002 when I retired (age 50). I was a Systems Designer / Software Engineer for a private tech firm that later went public in 2004.
User avatar
semperlux
Posts: 411
Joined: Tue Jan 22, 2008 6:46 pm
Location: Ca

Re: High Earners - What's Your Profession?

Post by semperlux »

ARoseByAnyOtherName wrote: Fri Dec 20, 2019 8:47 pmNot all software engineering is like this. You can’t extrapolate an entire profession from one data point. Don’t get too excited!
No, I get it, I'm trying to get an idea of what the typical pay / lifestyle is for an engineer. Seems like a stable job with decent pay and pretty good hours. Just looking into what direction to steer my kid. Don't really like the direction my field is going so trying to see if there are better opportunities.....
ARoseByAnyOtherName
Posts: 1000
Joined: Wed Apr 26, 2017 12:03 am

Re: High Earners - What's Your Profession?

Post by ARoseByAnyOtherName »

semperlux wrote: Sun Dec 22, 2019 8:39 am
ARoseByAnyOtherName wrote: Fri Dec 20, 2019 8:47 pmNot all software engineering is like this. You can’t extrapolate an entire profession from one data point. Don’t get too excited!
No, I get it, I'm trying to get an idea of what the typical pay / lifestyle is for an engineer. Seems like a stable job with decent pay and pretty good hours. Just looking into what direction to steer my kid. Don't really like the direction my field is going so trying to see if there are better opportunities.....
Ah that's a tough one. How old is your kid?

For pure earning potential, demand, and impact, right now it's hard to bet against technology specifically computer science/software of some kind. Recessions come and go, I'm old enough to remember 2001 and 2009 and the impact on the tech sector as I imagine most here are (y'all remember "RIP Good Times"?) But it's really hard to imagine the long-term trajectory for software and technology declining.

Of course when trying to guide kids there's a lot of other factors to consider....
Dobbs
Posts: 3
Joined: Tue Apr 12, 2016 5:29 am

Re: High Earners - What's Your Profession?

Post by Dobbs »

IBEW Electrician, 105k gross + 34k employer contributions into a 401a. 40hrs a week, little bit of OT here and there. Proud to represent the blue collar workers.
investingdad
Posts: 1786
Joined: Fri Mar 15, 2013 10:41 pm

Re: High Earners - What's Your Profession?

Post by investingdad »

Dobbs wrote: Sun Dec 22, 2019 8:50 am IBEW Electrician, 105k gross + 34k employer contributions into a 401a. 40hrs a week, little bit of OT here and there. Proud to represent the blue collar workers.
This is the sort of information that should be shared in our high schools.

I've always believed the skilled trades are an avenue to a good income without the 4 year college route for those kids that are not interested in college.
telecaster
Posts: 62
Joined: Wed Mar 21, 2018 9:12 pm

Re: High Earners - What's Your Profession?

Post by telecaster »

Dobbs wrote: Sun Dec 22, 2019 8:50 am IBEW Electrician, 105k gross + 34k employer contributions into a 401a. 40hrs a week, little bit of OT here and there. Proud to represent the blue collar workers.
Nice! Congrats Dobbs. Happy for you, and proud of you representing honest working folks.
I'm the first non-blue collar worker in my family and honestly when I think of what those that came before me did it sometimes makes me feel guilty for how much and what I get paid for doing.
piper
Posts: 10
Joined: Sun Dec 22, 2019 9:05 am

Re: High Earners - What's Your Profession?

Post by piper »

Another construction guy here. I see numerous people making six figures in the non union plumbing trades. There are also plenty of 7 figure incomes, including myself in the trades. who would have thought? Not as many blue collar workers on here as i would have thought either.
User avatar
galving
Posts: 189
Joined: Wed Oct 07, 2009 12:47 pm
Location: US Gulf Coast

Re: High Earners - What's Your Profession?

Post by galving »

I used to pay an engineer on tv. . .
Most of my career was spent in manufacturing/technology roles with increasing leadership responsibilities.

Pay is competitive. . . starting salaries for chemical engineers are $90-100k/yr. A lot of jobs are along the USGC which is generally a LCOL area.

Hours are flexible as long as the plant is running without issues. . . which depends heavily on the plant's technology, reliability/availability, and overall development. Early in my career, I worked through Thanksgiving/Christmas and other holidays.

Folks that excel, advance, and consistently command the highest raises/bonus plus best future opportunities are going to work more than 40 hours per week. Getting through Engineering School takes discipline/effort and will be a consistent theme to be successful throughout your career.
theshovel
Posts: 17
Joined: Sat Apr 14, 2018 7:33 am

Re: High Earners - What's Your Profession?

Post by theshovel »

Municipal Water and Sewer worker. VHCOL. About 125k this year, including OT, shift diff, weekend diff, and holiday pay. It doesn't include a small daily annuity or an $18+ per hr. OT annuity. I'm in the lower-end of the upper half of what guys can do including OT. Know a couple of guys who are consistent 150k+ earners.

I make more money than the Physician's Assistant who treated my herniated disc at the municipal hospital.
1130Super
Posts: 523
Joined: Thu Nov 07, 2019 8:59 am
Location: Minnesota

Re: High Earners - What's Your Profession?

Post by 1130Super »

No longer over 6 figures but 2015-2017 our company was giving everyone to work 60-70 hr work weeks for those 3 years. I made 120k-130k driving forklift in a warehouse. Pretty good for no college.
User avatar
3CT_Paddler
Posts: 3304
Joined: Wed Feb 04, 2009 5:28 pm
Location: Marietta, GA

Re: High Earners - What's Your Profession?

Post by 3CT_Paddler »

piper wrote: Sun Dec 22, 2019 9:16 am Another construction guy here. I see numerous people making six figures in the non union plumbing trades. There are also plenty of 7 figure incomes, including myself in the trades. who would have thought? Not as many blue collar workers on here as i would have thought either.
Part of the reason is this forum will bring together those with 401ks which will skew towards white collar workers. Also many owners of trades and various businesses are typically reinvesting profits into their business or buying property... but I wish this forum was better represented by the entrepreneurs.
stoptothink
Posts: 8313
Joined: Fri Dec 31, 2010 9:53 am

Re: High Earners - What's Your Profession?

Post by stoptothink »

theshovel wrote: Sun Dec 22, 2019 10:05 am Municipal Water and Sewer worker. VHCOL. About 125k this year, including OT, shift diff, weekend diff, and holiday pay. It doesn't include a small daily annuity or an $18+ per hr. OT annuity. I'm in the lower-end of the upper half of what guys can do including OT. Know a couple of guys who are consistent 150k+ earners.

I make more money than the Physician's Assistant who treated my herniated disc at the municipal hospital.
My brother makes ~$250k/yr as an oil & gas contractor. I believe his job role is generally "frac crew supervisor/manager", and at this point he doesn't do any manual labor. Somehow he's managed to only be out of work for a handful of months in 15yrs. I certainly wouldn't want his work schedule or the travel, but I spent 11yrs studying to earn half what he does, while he didn't even graduate high school.

As I've mentioned before, the 4 highest earners in my "circle" (3 friends and my brother) have exactly 0 days of college between them. I don't regret my path, but I am well aware that college isn't the only path to financial success.
Wildcat23
Posts: 4
Joined: Sun Dec 22, 2019 4:48 pm

Re: High Earners - What's Your Profession?

Post by Wildcat23 »

Sales- IT Consulting- 325k+. Heavy commission based and not for everyone but I love it.

Fortunate to work for a great company in a fast growing IT market.
TheNightsToCome
Posts: 608
Joined: Fri Jun 30, 2017 11:48 pm

Re: High Earners - What's Your Profession?

Post by TheNightsToCome »

stoptothink wrote: Sun Dec 22, 2019 11:09 am
theshovel wrote: Sun Dec 22, 2019 10:05 am Municipal Water and Sewer worker. VHCOL. About 125k this year, including OT, shift diff, weekend diff, and holiday pay. It doesn't include a small daily annuity or an $18+ per hr. OT annuity. I'm in the lower-end of the upper half of what guys can do including OT. Know a couple of guys who are consistent 150k+ earners.

I make more money than the Physician's Assistant who treated my herniated disc at the municipal hospital.
My brother makes ~$250k/yr as an oil & gas contractor. I believe his job role is generally "frac crew supervisor/manager", and at this point he doesn't do any manual labor. Somehow he's managed to only be out of work for a handful of months in 15yrs. I certainly wouldn't want his work schedule or the travel, but I spent 11yrs studying to earn half what he does, while he didn't even graduate high school.

As I've mentioned before, the 4 highest earners in my "circle" (3 friends and my brother) have exactly 0 days of college between them. I don't regret my path, but I am well aware that college isn't the only path to financial success.
My brother-in-law is a brilliant 38 yo neuroscience PhD still working long hours for peanuts as a post-doc. His education has been an obstacle on the path to financial success.
stoptothink
Posts: 8313
Joined: Fri Dec 31, 2010 9:53 am

Re: High Earners - What's Your Profession?

Post by stoptothink »

TheNightsToCome wrote: Sun Dec 22, 2019 8:43 pm
stoptothink wrote: Sun Dec 22, 2019 11:09 am
theshovel wrote: Sun Dec 22, 2019 10:05 am Municipal Water and Sewer worker. VHCOL. About 125k this year, including OT, shift diff, weekend diff, and holiday pay. It doesn't include a small daily annuity or an $18+ per hr. OT annuity. I'm in the lower-end of the upper half of what guys can do including OT. Know a couple of guys who are consistent 150k+ earners.

I make more money than the Physician's Assistant who treated my herniated disc at the municipal hospital.
My brother makes ~$250k/yr as an oil & gas contractor. I believe his job role is generally "frac crew supervisor/manager", and at this point he doesn't do any manual labor. Somehow he's managed to only be out of work for a handful of months in 15yrs. I certainly wouldn't want his work schedule or the travel, but I spent 11yrs studying to earn half what he does, while he didn't even graduate high school.

As I've mentioned before, the 4 highest earners in my "circle" (3 friends and my brother) have exactly 0 days of college between them. I don't regret my path, but I am well aware that college isn't the only path to financial success.
My brother-in-law is a brilliant 38 yo neuroscience PhD still working long hours for peanuts as a post-doc. His education has been an obstacle on the path to financial success.
I have many friends and former colleagues in this position and I interview recently minted science PhDs for entry level lab jobs all the time. Once you get in that academia/research world, it can be hard to get out and get your feet under you in the real world. I guess I am fortunate that my dissertation experience was so miserable that I had a lot of drive to get out.
stochastic
Posts: 55
Joined: Sun Sep 06, 2015 5:09 pm

Re: High Earners - What's Your Profession?

Post by stochastic »

Professor, 300k plus some additional summer salary from grants. Ten years post PhD. This is at the high end and involved moving to essentially double the salary. In academics jobs there are huge variations between universities, between departments within the same university and often even between professors in the same department at the same level. The majority of jobs these days are adjuncts which are often without benefits. And the number of PhDs far exceeds the number of jobs, our department has over 700 applications for junior positions this year, it can be a tough road. On the other hand many students from our department who don't take academic jobs get good jobs in finance and tech.
AlphaLess
Posts: 2679
Joined: Fri Sep 29, 2017 11:38 pm
Location: Kentucky

Re: High Earners - What's Your Profession?

Post by AlphaLess »

wineandplaya wrote: Sat Dec 21, 2019 12:07 am
AlphaLess wrote: Fri Dec 20, 2019 11:22 pm
wineandplaya wrote: Thu Dec 19, 2019 11:29 pm 200k-ish with bonus as PhD scientist (mathematics) at megacorp in the Midwest. Love my job. Normal working hours.
Interesting. What exactly do you do on a day-to-day basis?
Actuarial analysis?
Research department?
Operations research and software development related to medical devices.
Very interesting. Thanks for the update.
"A Republic, if you can keep it". Benjamin Franklin. 1787. | Party affiliation: Vanguard. Religion: low-cost investing.
60B4E24B
Posts: 59
Joined: Tue Jul 16, 2019 8:55 pm

Re: High Earners - What's Your Profession?

Post by 60B4E24B »

Software engineer at a hedge fund in NYC. Base is $230k, bonus varies, but was $415k last year. Haven't gotten my numbers for this year yet.
ARoseByAnyOtherName
Posts: 1000
Joined: Wed Apr 26, 2017 12:03 am

Re: High Earners - What's Your Profession?

Post by ARoseByAnyOtherName »

piper wrote: Sun Dec 22, 2019 9:16 am Another construction guy here. I see numerous people making six figures in the non union plumbing trades. There are also plenty of 7 figure incomes, including myself in the trades. who would have thought? Not as many blue collar workers on here as i would have thought either.
7 figures! Do you own your own business, if so what trade? Electrical, plumbing, etc?

Good on you!
ARoseByAnyOtherName
Posts: 1000
Joined: Wed Apr 26, 2017 12:03 am

Re: High Earners - What's Your Profession?

Post by ARoseByAnyOtherName »

Helo80 wrote: Sat Dec 21, 2019 10:45 pm
unclescrooge wrote: Sat Dec 21, 2019 10:36 pm Only on this board would someone making $120k feel like a loser!
That's both sad and sadly true. If the admins ever solicit our advice on this community and our concerns, I will certainly submit my salty two cents.

(note: non of it stems from jealousy, as I personally have about the sweetest gig I could ever imagine... I'm going into work Monday because I honestly love my job and I took the entire month of December off until this point... and I miss the work. I'm not 100% sure if I'll go in after the 23rd though... I'm not even 100% sure how long I'll be in for on the 23rd... but I need to swing the clubs at least once more this year...)
I LOVE hearing the stories of people who make much more than I do.

I also LOVE hearing stories of people who make less than I do.

Why? Because there's something to learn from almost every story, if we approach it with an open beginner's mind.

I certainly hope this community is always open to those with very high and very low incomes, and I hope all individuals can share their stories as they see fit.
APX32
Posts: 106
Joined: Sat May 27, 2017 1:22 pm

Re: High Earners - What's Your Profession?

Post by APX32 »

Software development, a little over $200k in total compensation for 2019. Looking to hit $220-230k for 2020. HCOL area, but expenses are kept in check, still manage to live very comfortably and saved almost $70k last year. Hoping to keep that savings rate and retire in about 7 years when I hit 50.

Typical week is never more than 30-35 hours of work. Occasionally when the team has a high profile deliverable we may hit 40 hours in a week.
20% SPY | 12% GLD | 68% Cash
HEDGEFUNDIE
Posts: 4801
Joined: Sun Oct 22, 2017 2:06 pm

Re: High Earners - What's Your Profession?

Post by HEDGEFUNDIE »

60B4E24B wrote: Sun Dec 22, 2019 10:13 pm Software engineer at a hedge fund in NYC. Base is $230k, bonus varies, but was $415k last year. Haven't gotten my numbers for this year yet.
Those algos aren’t going to write themselves! :sharebeer

yet... :twisted:
User avatar
fortfun
Posts: 2760
Joined: Tue Apr 19, 2016 7:31 pm

Re: High Earners - What's Your Profession?

Post by fortfun »

Teacher >100k. Summers off. 2 weeks xmas. 1 wk spring break.
Retire at 50 with 75% highest salary.
Rewarding career.
User avatar
semperlux
Posts: 411
Joined: Tue Jan 22, 2008 6:46 pm
Location: Ca

Re: High Earners - What's Your Profession?

Post by semperlux »

ARoseByAnyOtherName wrote: Sun Dec 22, 2019 8:46 amAh that's a tough one. How old is your kid?

For pure earning potential, demand, and impact, right now it's hard to bet against technology specifically computer science/software of some kind. Recessions come and go, I'm old enough to remember 2001 and 2009 and the impact on the tech sector as I imagine most here are (y'all remember "RIP Good Times"?) But it's really hard to imagine the long-term trajectory for software and technology declining.

Of course when trying to guide kids there's a lot of other factors to consider....
My kiddo's only 5, but I want to steer her towards extracurriculars that may peak her interest in promising careers. I'm seeing the same trend on technology / CS / software engineer, but I'm wondering how long that will last. Although with AI ramping up, I think the trend will likely go on for a couple more decades hopefully.

How much are software engineers' pay tied to stock options / company's performance / annual bonus? 20% 30%. Because that needs to be taken into consideration compared to someone who is paid straight up without condition.
notPatience
Posts: 138
Joined: Mon Mar 24, 2008 2:46 pm

Re: High Earners - What's Your Profession?

Post by notPatience »

Novelist
HawkeyePierce
Posts: 1482
Joined: Tue Mar 05, 2019 10:29 pm
Location: Colorado

Re: High Earners - What's Your Profession?

Post by HawkeyePierce »

semperlux wrote: Mon Dec 23, 2019 2:25 am
ARoseByAnyOtherName wrote: Sun Dec 22, 2019 8:46 amAh that's a tough one. How old is your kid?

For pure earning potential, demand, and impact, right now it's hard to bet against technology specifically computer science/software of some kind. Recessions come and go, I'm old enough to remember 2001 and 2009 and the impact on the tech sector as I imagine most here are (y'all remember "RIP Good Times"?) But it's really hard to imagine the long-term trajectory for software and technology declining.

Of course when trying to guide kids there's a lot of other factors to consider....
My kiddo's only 5, but I want to steer her towards extracurriculars that may peak her interest in promising careers. I'm seeing the same trend on technology / CS / software engineer, but I'm wondering how long that will last. Although with AI ramping up, I think the trend will likely go on for a couple more decades hopefully.

How much are software engineers' pay tied to stock options / company's performance / annual bonus? 20% 30%. Because that needs to be taken into consideration compared to someone who is paid straight up without condition.
Salaries cap out pretty quickly at big tech companies. Senior roles get at least half their comp in stock and variable bonuses IME.
pharmermummles
Posts: 118
Joined: Tue Mar 20, 2018 6:02 am

Re: High Earners - What's Your Profession?

Post by pharmermummles »

I'm an overnight pharmacist at a hospital in the Midwest. I love the work. It can be exciting at times, but for a lot of the night I am just making sure all the nurses have what they need for their patients and catch up on projects (or post on Bogleheads). I have a 7/70 schedule, so I work 7 10-hour nights in a row, then have a full 7 days off. Pretty great if you can swing it. Shift differentials bring me up to ~$140K base, and with some overtime opportunities, I have been in the ~$165K range. Not super big money, but it's a LCOL area, so it's enough to max out the 403(b), 457(b), and IRAs for my wife and me (she is a stay-at-home mom) with some money left over at the end of the month to save for our next house down payment.
User avatar
TomatoTomahto
Posts: 11123
Joined: Mon Apr 11, 2011 1:48 pm

Re: High Earners - What's Your Profession?

Post by TomatoTomahto »

60B4E24B wrote: Sun Dec 22, 2019 10:13 pm Software engineer at a hedge fund in NYC. Base is $230k, bonus varies, but was $415k last year. Haven't gotten my numbers for this year yet.
How many years have you been doing this? Would you mind sharing the total comp trajectory?
Okay, I get it; I won't be political or controversial. The Earth is flat.
investingdad
Posts: 1786
Joined: Fri Mar 15, 2013 10:41 pm

Re: High Earners - What's Your Profession?

Post by investingdad »

semperlux wrote: Mon Dec 23, 2019 2:25 am
ARoseByAnyOtherName wrote: Sun Dec 22, 2019 8:46 amAh that's a tough one. How old is your kid?

For pure earning potential, demand, and impact, right now it's hard to bet against technology specifically computer science/software of some kind. Recessions come and go, I'm old enough to remember 2001 and 2009 and the impact on the tech sector as I imagine most here are (y'all remember "RIP Good Times"?) But it's really hard to imagine the long-term trajectory for software and technology declining.

Of course when trying to guide kids there's a lot of other factors to consider....
My kiddo's only 5, but I want to steer her towards extracurriculars that may peak her interest in promising careers. I'm seeing the same trend on technology / CS / software engineer, but I'm wondering how long that will last. Although with AI ramping up, I think the trend will likely go on for a couple more decades hopefully.

How much are software engineers' pay tied to stock options / company's performance / annual bonus? 20% 30%. Because that needs to be taken into consideration compared to someone who is paid straight up without condition.
No AI will ever rewire your house or fix a leaky water line.

Just something to consider as you steer your little one to careers.
fanmail
Posts: 409
Joined: Thu Sep 20, 2012 5:54 pm

Re: High Earners - What's Your Profession?

Post by fanmail »

investingdad wrote: Mon Dec 23, 2019 8:14 am
semperlux wrote: Mon Dec 23, 2019 2:25 am
ARoseByAnyOtherName wrote: Sun Dec 22, 2019 8:46 amAh that's a tough one. How old is your kid?

For pure earning potential, demand, and impact, right now it's hard to bet against technology specifically computer science/software of some kind. Recessions come and go, I'm old enough to remember 2001 and 2009 and the impact on the tech sector as I imagine most here are (y'all remember "RIP Good Times"?) But it's really hard to imagine the long-term trajectory for software and technology declining.

Of course when trying to guide kids there's a lot of other factors to consider....
My kiddo's only 5, but I want to steer her towards extracurriculars that may peak her interest in promising careers. I'm seeing the same trend on technology / CS / software engineer, but I'm wondering how long that will last. Although with AI ramping up, I think the trend will likely go on for a couple more decades hopefully.

How much are software engineers' pay tied to stock options / company's performance / annual bonus? 20% 30%. Because that needs to be taken into consideration compared to someone who is paid straight up without condition.
No AI will ever rewire your house or fix a leaky water line.

Just something to consider as you steer your little one to careers.
How do you know?
piper
Posts: 10
Joined: Sun Dec 22, 2019 9:05 am

Re: High Earners - What's Your Profession?

Post by piper »

ARoseByAnyOtherName wrote: Sun Dec 22, 2019 10:18 pm
piper wrote: Sun Dec 22, 2019 9:16 am Another construction guy here. I see numerous people making six figures in the non union plumbing trades. There are also plenty of 7 figure incomes, including myself in the trades. who would have thought? Not as many blue collar workers on here as i would have thought either.
7 figures! Do you own your own business, if so what trade? Electrical, plumbing, etc?

Good on you!
Arose, I do own a little piece of the pie. Its been a fun ride for the last 20+ years of being a plumber. It definitely wasn't easy, long hours, being away from home and such. I have seen people come out of high school and be an apprentice plumber and in 4 years they are making 70+K.
notPatience
Posts: 138
Joined: Mon Mar 24, 2008 2:46 pm

Re: High Earners - What's Your Profession?

Post by notPatience »

notPatience wrote: Mon Dec 23, 2019 2:55 amNovelist

Not OP's definition of "High Earner" during numerous years in traditional publishing, even combo'd with continuing day job as journalist p-t. Then in HCOL area.

HE since 2011 as indie/self-publisher, which requires entrepreneurship in addition to the writing. Now in midCOL area.

No debt involved, thanks to super-saver parents who funded 4 years at top university, during which I got BA & MSJ.

Hours? All of them. Staring out the window, sleeping, brushing teeth,writer brain always going.
nechama
Posts: 6
Joined: Tue Dec 03, 2019 9:40 am

Re: High Earners - What's Your Profession?

Post by nechama »

Actuary
Nathan Drake
Posts: 517
Joined: Mon Apr 11, 2011 12:28 am

Re: High Earners - What's Your Profession?

Post by Nathan Drake »

pharmermummles wrote: Mon Dec 23, 2019 3:50 am I'm an overnight pharmacist at a hospital in the Midwest. I love the work. It can be exciting at times, but for a lot of the night I am just making sure all the nurses have what they need for their patients and catch up on projects (or post on Bogleheads). I have a 7/70 schedule, so I work 7 10-hour nights in a row, then have a full 7 days off. Pretty great if you can swing it. Shift differentials bring me up to ~$140K base, and with some overtime opportunities, I have been in the ~$165K range. Not super big money, but it's a LCOL area, so it's enough to max out the 403(b), 457(b), and IRAs for my wife and me (she is a stay-at-home mom) with some money left over at the end of the month to save for our next house down payment.
So you’re paid 140k to mostly catch up on personal projects and read bogleheads?

I’m really curious how positions like this can exist. There’s just a requirement to have somebody available to work? Seems very inefficient
KFBR392
Posts: 41
Joined: Thu Aug 08, 2019 6:32 pm

Re: High Earners - What's Your Profession?

Post by KFBR392 »

thankyouverymuch wrote: Thu Dec 19, 2019 10:14 pm
KFBR392 wrote: Thu Dec 19, 2019 1:39 pm I wonder what some of the SoCal high earners think is the minimum household income needed to lead a comfortable but not extravagant life in Los Angeles?
Where in Los Angeles? A house in a neighborhood with “good” schools could be $1 million or it could easily be $2 million or more, depending on your definition of what is a “good” school.
And income only tells part of the story: do you still have student loans? Paid-off cars? Etc.
Anyway, I’ll throw out $200k as a starting number. But I’d guess if you were at $200k you’d be wanting that extra $100k. Daycare isn’t cheap, and a one-week vacation for a family of four can be very expensive! Plus you should be putting aside money for college, retirement, etc. Good luck!
To answer the OP’s original question, I’m a lawyer :-)
I was thinking of areas like Burbank, Glendale, or similar where the schools are a 7 or higher. Homes in the range of $1-1.2 million. We're at $220k this year, so I guess it could be worse but you are absolutely correct: it feels like getting joint income to $300k would make home buying much more achievable.
User avatar
TomatoTomahto
Posts: 11123
Joined: Mon Apr 11, 2011 1:48 pm

Re: High Earners - What's Your Profession?

Post by TomatoTomahto »

Nathan Drake wrote: Mon Dec 23, 2019 2:52 pm
pharmermummles wrote: Mon Dec 23, 2019 3:50 am I'm an overnight pharmacist at a hospital in the Midwest. I love the work. It can be exciting at times, but for a lot of the night I am just making sure all the nurses have what they need for their patients and catch up on projects (or post on Bogleheads). I have a 7/70 schedule, so I work 7 10-hour nights in a row, then have a full 7 days off. Pretty great if you can swing it. Shift differentials bring me up to ~$140K base, and with some overtime opportunities, I have been in the ~$165K range. Not super big money, but it's a LCOL area, so it's enough to max out the 403(b), 457(b), and IRAs for my wife and me (she is a stay-at-home mom) with some money left over at the end of the month to save for our next house down payment.
So you’re paid 140k to mostly catch up on personal projects and read bogleheads?

I’m really curious how positions like this can exist. There’s just a requirement to have somebody available to work? Seems very inefficient
If you need meds in the ER, I think you’ll find it more efficient than waiting till morning.
Okay, I get it; I won't be political or controversial. The Earth is flat.
investingdad
Posts: 1786
Joined: Fri Mar 15, 2013 10:41 pm

Re: High Earners - What's Your Profession?

Post by investingdad »

fanmail wrote: Mon Dec 23, 2019 8:38 am
investingdad wrote: Mon Dec 23, 2019 8:14 am
semperlux wrote: Mon Dec 23, 2019 2:25 am
ARoseByAnyOtherName wrote: Sun Dec 22, 2019 8:46 amAh that's a tough one. How old is your kid?

For pure earning potential, demand, and impact, right now it's hard to bet against technology specifically computer science/software of some kind. Recessions come and go, I'm old enough to remember 2001 and 2009 and the impact on the tech sector as I imagine most here are (y'all remember "RIP Good Times"?) But it's really hard to imagine the long-term trajectory for software and technology declining.

Of course when trying to guide kids there's a lot of other factors to consider....
My kiddo's only 5, but I want to steer her towards extracurriculars that may peak her interest in promising careers. I'm seeing the same trend on technology / CS / software engineer, but I'm wondering how long that will last. Although with AI ramping up, I think the trend will likely go on for a couple more decades hopefully.

How much are software engineers' pay tied to stock options / company's performance / annual bonus? 20% 30%. Because that needs to be taken into consideration compared to someone who is paid straight up without condition.
No AI will ever rewire your house or fix a leaky water line.

Just something to consider as you steer your little one to careers.
How do you know?
I'm pretty comfortable with this statement.
Post Reply