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
dziuniek
Posts: 491
Joined: Mon Jul 23, 2012 2:54 pm
Location: Corrupticut

Re: High Earners - What's Your Profession?

Post by dziuniek » Tue Nov 06, 2018 12:51 pm

Combined Household Income for 2019:
(assuming we keep our jobs)

Medium to High cost of living area. (CT) Dunno if this is high earners for my area, I doubt it. Welp :annoyed :confused

Pharmacy Supervisor FT: $124,500 + $3,000-$5,000 bonus
& Staff Pharmacist Per Diem : $5,500
B.S. Pharmacy + Pharm D. + started MBA

Accountant/Examiner/Auditor: $79,000
B.S. Accounting + M.S. Accounting & Taxation + wrapping up MBA

Total: $212,000 - $214,000

Too much effort for the money, haha.

JuniorBH
Posts: 94
Joined: Fri Jun 09, 2017 12:54 pm

Re: High Earners - What's Your Profession?

Post by JuniorBH » Tue Nov 06, 2018 1:10 pm

Director in the advisory services group at a public accounting firm.

DW is an executive assistant to a C-level executive.

Combined, we're mid-$300k's now, living in a HCOL area.

I'm on the partner track which would eventually mean high six-figures and hopefully the ability for DW to stay home with the kids.

joelly
Posts: 226
Joined: Mon Oct 27, 2008 11:22 am

Re: High Earners - What's Your Profession?

Post by joelly » Tue Nov 06, 2018 1:59 pm

MikeG62 wrote:
Tue Nov 06, 2018 12:48 pm
Senior finance executive public company.

Also I would not consider a cutoff of $100K a high earner. I’d be thinking more along the lines of north of mid six figures. At that level you are well beyond making ends meet with the opportunity to save a considerable amount and doing something different (retire early to a life filled with lots of experiences).

Others may draw the line higher (and would not be wrong in doing so).

I’d offer as an example, mybother and sister in law who live on LI. They earn $200K between them and basically makes ends meet. They have little spare income or savings outside of workplace retirement plans.
Like your brother and sister in law, hubby and I earn $200K and we only makes ends meet. We have little spare income or savings outside of workplace retirement plans.

dcabler
Posts: 664
Joined: Wed Feb 19, 2014 11:30 am

Re: High Earners - What's Your Profession?

Post by dcabler » Tue Nov 06, 2018 2:10 pm

Electrical Engineering Director (Semiconductor)...

Started out at around $26.5K in 1984.
Broke $100K early 1990's
more than 2x that now.
Been flattish-for the last 5 years or so.

Ryerle
Posts: 21
Joined: Thu Mar 12, 2015 7:29 am

Re: High Earners - What's Your Profession?

Post by Ryerle » Tue Nov 06, 2018 2:17 pm

alfaspider wrote:
Tue Nov 06, 2018 8:35 am
jumbopapa wrote:
Tue Nov 06, 2018 8:13 am
Keenobserver wrote:
Mon Nov 05, 2018 10:31 pm
Would really like to revive this thread instead of starting a new one. Not sure why some are so reluctant to share exact numbers as we are supposedly ananomyous.

35 yrs old
Healthcare profession ( not MD) MS degree
250k gross.. but crazy hrs 80 plus as 250k is not the norm for my profession at all..
Never thought i would be making anything close to this amount when I was in grad school. I dont believe that some physcians are making 95k .. thats unbelievable to me even Pediatricians and Internists must be making way more than 100k. So unfair if that is in fact the case. You can have a high school grad firefighter work 3 days a week and make well over 100k and OT 200k plus not to mention nsane pension / benefits Meanwhile u can have a medical doctor make less. No wonder that firefighters only accept " certain " kinds of people as it is a good old boys club. Anyway I digress. Can physcians and others post their specialty/ yrs of experience / and of course exact compensation.. also if you think it was worth it.

Where on earth can I find a firefighting job making $100k?
Probably NYC/San Francisco. But agreed that it's not typical except for senior management within a fire department.
pretty common in PNW https://www.kgw.com/article/money/meet- ... /484080440
https://www.columbian.com/news/2015/jul ... rk-county/

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TomatoTomahto
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Re: High Earners - What's Your Profession?

Post by TomatoTomahto » Tue Nov 06, 2018 2:45 pm

market timer wrote:
Tue Nov 06, 2018 11:31 am
I do math wearing a t-shirt. I used to do math wearing a suit.
:sharebeer my dear son has embarked on this career also.

I am a kept man. Mind you, I selected wisely for the woman who would eventually keep me. I was a high earner, but then became an even higher “earner” as a kept man: helping to manage the household, our finances, and to make believe that I was managing the kids.
Zero Net Carbon by 2019.

Liam Friend
Posts: 5
Joined: Tue Aug 07, 2018 6:58 pm

Re: High Earners - What's Your Profession?

Post by Liam Friend » Tue Nov 06, 2018 3:21 pm

Lawyer

latesaver
Posts: 91
Joined: Thu Aug 03, 2017 3:35 pm

Re: High Earners - What's Your Profession?

Post by latesaver » Tue Nov 06, 2018 3:31 pm

Wife (35) is a human resources systems manager.
After a short stint in investment banking I (39) ended up at the intersection of good luck and hard work, hitching my wagon to the right star. I work on a small team in an international family office managing investments.

Due to bonuses, carry, and option grants, our income fluctuates greatly but is always more than $500K.

I don't expect my job to last much longer nor do I assume i will come anywhere close to replacing 100% of my current income. Luckily I do not spend in accordance with my income thanks to this forum.

I also have a severe case of impostor syndrome.

Cruise
Posts: 658
Joined: Mon Nov 21, 2016 7:17 pm

Re: High Earners - What's Your Profession?

Post by Cruise » Tue Nov 06, 2018 3:40 pm

latesaver wrote:
Tue Nov 06, 2018 3:31 pm
Wife (35) is a human resources systems manager.
After a short stint in investment banking I (39) ended up at the intersection of good luck and hard work, hitching my wagon to the right star. I work on a small team in an international family office managing investments.

Due to bonuses, carry, and option grants, our income fluctuates greatly but is always more than $500K.

I don't expect my job to last much longer nor do I assume i will come anywhere close to replacing 100% of my current income. Luckily I do not spend in accordance with my income thanks to this forum.

I also have a severe case of impostor syndrome.
Great report. Congrats. Hope your compensation compensates for the impostor syndrome challenges.

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unclescrooge
Posts: 2622
Joined: Thu Jun 07, 2012 7:00 pm

Re: High Earners - What's Your Profession?

Post by unclescrooge » Tue Nov 06, 2018 6:55 pm

latesaver wrote:
Tue Nov 06, 2018 3:31 pm
Wife (35) is a human resources systems manager.
After a short stint in investment banking I (39) ended up at the intersection of good luck and hard work, hitching my wagon to the right star. I work on a small team in an international family office managing investments.

Due to bonuses, carry, and option grants, our income fluctuates greatly but is always more than $500K.

I don't expect my job to last much longer nor do I assume i will come anywhere close to replacing 100% of my current income. Luckily I do not spend in accordance with my income thanks to this forum.

I also have a severe case of impostor syndrome.
How does one land such a job? What does your day to day routine consist of?

Fm2018
Posts: 15
Joined: Wed Oct 10, 2018 4:58 am

Re: High Earners - What's Your Profession?

Post by Fm2018 » Tue Nov 06, 2018 7:11 pm

$225k for 9 month contract. Professor.

latesaver
Posts: 91
Joined: Thu Aug 03, 2017 3:35 pm

Re: High Earners - What's Your Profession?

Post by latesaver » Tue Nov 06, 2018 7:29 pm

unclescrooge wrote:
Tue Nov 06, 2018 6:55 pm
latesaver wrote:
Tue Nov 06, 2018 3:31 pm
Wife (35) is a human resources systems manager.
After a short stint in investment banking I (39) ended up at the intersection of good luck and hard work, hitching my wagon to the right star. I work on a small team in an international family office managing investments.

Due to bonuses, carry, and option grants, our income fluctuates greatly but is always more than $500K.

I don't expect my job to last much longer nor do I assume i will come anywhere close to replacing 100% of my current income. Luckily I do not spend in accordance with my income thanks to this forum.

I also have a severe case of impostor syndrome.
How does one land such a job? What does your day to day routine consist of?
It's 99% luck and 1% right place, right time. i worked hard for my senior banker. he could rely on me. when 2008 happened i lost my job. he didn't but landed a new gig regardless. he called me 7 months later and said he had a new gig and needed someone reliable. so i joined him in 2009.

now, 9 years later, we've done pretty well for our investor and we have been treated pretty well in return. job is flexible in good and bad ways. last time i had a vacation during which i didn't check and respond to emails was my wedding anniversary 7 years ago. on the flipside my kid was sick today so i stayed home from work, no questions asked.

there's no surefire way to land such a job but there are surefire ways not to land such a job. show up late to work, fail to add value, submit presentations that incorporate modeling errors, etc. In banking and finance, attention to detail matters. if you can't use consistent font sizes from one page to the next, how can i trust that you know how to calculate WACC or a levered beta?

i can't tell you how many resumes i've discarded for reasons that most consider to be superficial...and yet my routine is flexible (i can leave work at 6pm) because we have hired the right people based largely in part on my recommendations.

darrvao777
Posts: 199
Joined: Wed Sep 10, 2014 1:34 pm

Re: High Earners - What's Your Profession?

Post by darrvao777 » Tue Nov 06, 2018 8:15 pm

Keenobserver wrote:
Mon Nov 05, 2018 10:31 pm
Would really like to revive this thread instead of starting a new one. Not sure why some are so reluctant to share exact numbers as we are supposedly ananomyous.

35 yrs old
Healthcare profession ( not MD) MS degree
250k gross.. but crazy hrs 80 plus as 250k is not the norm for my profession at all..
Never thought i would be making anything close to this amount when I was in grad school. I dont believe that some physcians are making 95k .. thats unbelievable to me even Pediatricians and Internists must be making way more than 100k. So unfair if that is in fact the case. You can have a high school grad firefighter work 3 days a week and make well over 100k and OT 200k plus not to mention nsane pension / benefits Meanwhile u can have a medical doctor make less. No wonder that firefighters only accept " certain " kinds of people as it is a good old boys club. Anyway I digress. Can physcians and others post their specialty/ yrs of experience / and of course exact compensation.. also if you think it was worth it.
early to mid 30s
MD
>$1M, <40 hours/week
surgical subspecialty
4 years experience, I was making that income by year 2
This is not a common pathway in medicine so of course I think it's worth it and feel incredibly blessed.

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zaboomafoozarg
Posts: 1968
Joined: Sun Jun 12, 2011 12:34 pm

Re: High Earners - What's Your Profession?

Post by zaboomafoozarg » Tue Nov 06, 2018 8:34 pm

triceratop wrote:
Tue Nov 06, 2018 11:53 am
I'm sorry if I offended you by my playful reminder that we are all very well off here.
Some people take this brag thread very seriously, LOL

grokzilla
Posts: 84
Joined: Tue Aug 16, 2011 8:25 am

Re: High Earners - What's Your Profession?

Post by grokzilla » Tue Nov 06, 2018 8:40 pm

MikeG62 wrote:
Tue Nov 06, 2018 12:48 pm
Senior finance executive public company.

Also I would not consider a cutoff of $100K a high earner. I’d be thinking more along the lines of north of mid six figures. At that level you are well beyond making ends meet with the opportunity to save a considerable amount and doing something different (retire early to a life filled with lots of experiences).

Others may draw the line higher (and would not be wrong in doing so).

I’d offer as an example, mybother and sister in law who live on LI. They earn $200K between them and basically makes ends meet. They have little spare income or savings outside of workplace retirement plans.
Agree that $100K isn't super high income, but its all relative to where you currently are. I know it seemed pretty darn high when I was well under it.

Top 5% income in the US sits around $200K and Top 1% sits a bit above $400K. The real magic probably starts in that window.

You can live very comfortably anywhere on the entire planet on an income of $200K. Time for you to stage a brotherly intervention on his spending? :D

We're marketing consultant and corp exec.

HIinvestor
Posts: 1696
Joined: Tue Apr 08, 2014 3:23 am

Re: High Earners - What's Your Profession?

Post by HIinvestor » Tue Nov 06, 2018 9:17 pm

H worked at the fed govt for 40 years before he finally broke $100K/year. His job changed often but his last decade or more was in telephones. Me, I’ve never earned that much in a year.

Our S was grossing more income than $100k in his part time online sales job. His engineering job gave him benefits and stable income and hours.

five2one
Posts: 83
Joined: Thu Jul 05, 2018 6:05 pm

Re: High Earners - What's Your Profession?

Post by five2one » Tue Nov 06, 2018 11:43 pm

Very helpful thread.

Career military officer with prior enlisted service so that helped.
Eligible to retire in two years and thinking hard about it.

My undergrad from a military college is in history and 1st master's is a Master's of Science in Management.
I'm looking hard at getting a MBA from KU to prep for my eventual transition for more credibility.

I'm strongly considering going away from defense/gov't work after military but still learning.

student
Posts: 2594
Joined: Fri Apr 03, 2015 6:58 am

Re: High Earners - What's Your Profession?

Post by student » Tue Nov 06, 2018 11:54 pm

dziuniek wrote:
Tue Nov 06, 2018 12:51 pm
Combined Household Income for 2019:
(assuming we keep our jobs)

Medium to High cost of living area. (CT) Dunno if this is high earners for my area, I doubt it. Welp :annoyed :confused

Pharmacy Supervisor FT: $124,500 + $3,000-$5,000 bonus
& Staff Pharmacist Per Diem : $5,500
B.S. Pharmacy + Pharm D. + started MBA

Accountant/Examiner/Auditor: $79,000
B.S. Accounting + M.S. Accounting & Taxation + wrapping up MBA

Total: $212,000 - $214,000

Too much effort for the money, haha.
You can check via statistical atlas with give income distribution by zip code and other units such as state house district. https://statisticalatlas.com/United-States/Overview

fennewaldaj
Posts: 318
Joined: Sun Oct 22, 2017 11:30 pm

Re: High Earners - What's Your Profession?

Post by fennewaldaj » Wed Nov 07, 2018 2:01 am

grokzilla wrote:
Tue Nov 06, 2018 8:40 pm
MikeG62 wrote:
Tue Nov 06, 2018 12:48 pm
Senior finance executive public company.

Also I would not consider a cutoff of $100K a high earner. I’d be thinking more along the lines of north of mid six figures. At that level you are well beyond making ends meet with the opportunity to save a considerable amount and doing something different (retire early to a life filled with lots of experiences).

Others may draw the line higher (and would not be wrong in doing so).

I’d offer as an example, mybother and sister in law who live on LI. They earn $200K between them and basically makes ends meet. They have little spare income or savings outside of workplace retirement plans.
Agree that $100K isn't super high income, but its all relative to where you currently are. I know it seemed pretty darn high when I was well under it.

Top 5% income in the US sits around $200K and Top 1% sits a bit above $400K. The real magic probably starts in that window.

You can live very comfortably anywhere on the entire planet on an income of $200K. Time for you to stage a brotherly intervention on his spending? :D

We're marketing consultant and corp exec.
To me not considering a family income of 200k high is absurd/out of touch

cantos
Posts: 254
Joined: Tue Dec 20, 2016 11:25 am

Re: High Earners - What's Your Profession?

Post by cantos » Wed Nov 07, 2018 3:05 am

Keenobserver wrote:
Tue Nov 06, 2018 12:18 pm
Where all the doctors and lawyers?
Here's one. Lawyer, around 200k, in house. In my private practice days there were feast and famine years, "famine" at 100k and feast at 500k. I've been lucky so far.

dziuniek
Posts: 491
Joined: Mon Jul 23, 2012 2:54 pm
Location: Corrupticut

Re: High Earners - What's Your Profession?

Post by dziuniek » Wed Nov 07, 2018 9:04 am

fennewaldaj wrote:
Wed Nov 07, 2018 2:01 am
grokzilla wrote:
Tue Nov 06, 2018 8:40 pm
MikeG62 wrote:
Tue Nov 06, 2018 12:48 pm
Senior finance executive public company.

Also I would not consider a cutoff of $100K a high earner. I’d be thinking more along the lines of north of mid six figures. At that level you are well beyond making ends meet with the opportunity to save a considerable amount and doing something different (retire early to a life filled with lots of experiences).

Others may draw the line higher (and would not be wrong in doing so).

I’d offer as an example, mybother and sister in law who live on LI. They earn $200K between them and basically makes ends meet. They have little spare income or savings outside of workplace retirement plans.
Agree that $100K isn't super high income, but its all relative to where you currently are. I know it seemed pretty darn high when I was well under it.

Top 5% income in the US sits around $200K and Top 1% sits a bit above $400K. The real magic probably starts in that window.

You can live very comfortably anywhere on the entire planet on an income of $200K. Time for you to stage a brotherly intervention on his spending? :D

We're marketing consultant and corp exec.
To me not considering a family income of 200k high is absurd/out of touch
Top 10% for us with 200k-ish income for our zip, per the website linked by student.

And we don't even live in a fancier* town, nevermind some of the insanely expensive towns in CT (looking at you Greenich, Darien, etc ;p)

To me it isn't absurd or out of touch. It's all relevant to your area.

EDIT:

Looking more into the data, the MEAN for top 20% is $240k in my zip code. So we're below that, for whatever that's worth.

trav867
Posts: 19
Joined: Wed Mar 29, 2017 8:54 pm

Re: High Earners - What's Your Profession?

Post by trav867 » Wed Nov 07, 2018 10:21 am

Firefighter in the PNW here. I have made 100k in one of my eight years on the job. It took a few hundred hours of overtime to get there.

fastrak99
Posts: 21
Joined: Tue Jul 31, 2018 10:02 pm

Re: High Earners - What's Your Profession?

Post by fastrak99 » Wed Nov 07, 2018 11:49 am

Great thread - skimming through I'm surprised there are not more business owners / small business owners in here.

I have an engineering background / worked in corporate for several years out of school - but realized really fast it will take a long time for me to climb to the 100K+ ranks, or build any significant wealth to enjoy while I'm still 'younger'. Within a 'relatively' short time and a few initial fails - was able to get a small business up and running that I'm still part of 10+ years later.

pejp
Posts: 124
Joined: Thu Jan 04, 2018 4:12 pm

Re: High Earners - What's Your Profession?

Post by pejp » Wed Nov 07, 2018 12:58 pm

Director, Front Office Technlogy - Investment Management. I’m 36. $220k base + roughly 25% cash bonus + around 20% in restricted stock, so about $300k all in. I didn’t go to college. Started fairly low level when I was 18 at a company that outsourced tech staff for financial institutions....started with trading floor desktop support like replacing phones, doing desk moves, replacing keyboards, fixing printers, telecommunications etc and managed to learn enough about finance to move into application support and finance specific tech stuff and just took it from there. Spent most of my career at a large macro hedge fund, and moved into the more traditional asset management industry a few years ago. Not quite as interesting, but certainly less volatile! Combination of hard work, a lot of luck, and aggressively taking opportunities when they arise!
Last edited by pejp on Wed Nov 07, 2018 4:16 pm, edited 1 time in total.

shm317
Posts: 2
Joined: Thu Jan 25, 2018 11:27 am

Re: High Earners - What's Your Profession?

Post by shm317 » Wed Nov 07, 2018 2:04 pm

36, fixed income corporate credit research on buyside, ~mid 400s

Keenobserver
Posts: 79
Joined: Thu Aug 13, 2015 1:05 pm

Re: High Earners - What's Your Profession?

Post by Keenobserver » Wed Nov 07, 2018 2:40 pm

Good for you brother. Proof that not having a fancy college degree is no excuse.

Machinebuzz
Posts: 2
Joined: Mon May 07, 2018 10:48 am

Re: High Earners - What's Your Profession?

Post by Machinebuzz » Wed Nov 07, 2018 3:25 pm

I'm a union heavy equipment operator at a iron ore mine. My base pay is 90K but with profit sharing I'm over 100k. This number could easily be raised with a little OT that I opt to not do. We have a nice pension and 100% paid medical insurance.

My wife makes an additional 55k. We live in a LCOL area so all in all we do very well. Our home is a 1300 square foot rambler on half a city block for 115k.

In my previous life I was a medical device machinist and a mechanical engineer. My earning potential was greater but I had to live in the city to do so. We now live in a small rural town in Northern MN.

Marlago35
Posts: 3
Joined: Wed Sep 26, 2018 11:51 am

Re: High Earners - What's Your Profession?

Post by Marlago35 » Wed Nov 07, 2018 3:59 pm

Mid 30s, HCOL east coast market, combined income of ~$450k:

Me: Data analytics/consulting. Entire career has been in this type of role.
Wife: Slowly taking over 2nd generation family business.

I'm considering a mid career change into a completely different industry and starting own business. Will make the decision in the next ~ 6 months with timing of several things at work. Nervous to lose W2 salary, excited to go out on my own. We're blessed and try to give back.

FrankLUSMC
Posts: 94
Joined: Tue Nov 28, 2017 1:43 pm

Re: High Earners - What's Your Profession?

Post by FrankLUSMC » Wed Nov 07, 2018 4:42 pm

pejp wrote:
Wed Nov 07, 2018 12:58 pm
Director, Front Office Technlogy - Investment Management. I’m 36. $220k base + roughly 25% cash bonus + around 20% in restricted stock, so about $300k all in. I didn’t go to college. Started fairly low level when I was 18 at a company that outsourced tech staff for financial institutions....started with trading floor desktop support like replacing phones, doing desk moves, replacing keyboards, fixing printers, telecommunications etc and managed to learn enough about finance to move into application support and finance specific tech stuff and just took it from there. Spent most of my career at a large macro hedge fund, and moved into the more traditional asset management industry a few years ago. Not quite as interesting, but certainly less volatile! Combination of hard work, a lot of luck, and aggressively taking opportunities when they arise!
Congrats, and no school debt I'll bet!

CPO_investor
Posts: 4
Joined: Wed Nov 07, 2018 4:52 pm

Re: High Earners - What's Your Profession?

Post by CPO_investor » Wed Nov 07, 2018 4:58 pm

Enlisted in the military. I make around $115,000 and the wife makes about the same as an Ops Manager for a F500 company. She should hopefully get a big pay raise soon - she is woefully underpaid right now. Live in a very high cost of living area. Doesn’t feel like we are high net worth as we save a lot, hoping to be able to fully retire in 6 - 7 years depending on how the market does.

Slacker
Posts: 630
Joined: Thu May 26, 2016 8:40 am

Re: High Earners - What's Your Profession?

Post by Slacker » Wed Nov 07, 2018 5:16 pm

Two engineer household now up to $250k combined.

Living in mid- low cost of living area (mortgage after 20% down on a 3bdrm 1900sq ft home is less than one years gross combined salary).

pejp
Posts: 124
Joined: Thu Jan 04, 2018 4:12 pm

Re: High Earners - What's Your Profession?

Post by pejp » Wed Nov 07, 2018 5:30 pm

FrankLUSMC wrote:
Wed Nov 07, 2018 4:42 pm
pejp wrote:
Wed Nov 07, 2018 12:58 pm
Director, Front Office Technlogy - Investment Management. I’m 36. $220k base + roughly 25% cash bonus + around 20% in restricted stock, so about $300k all in. I didn’t go to college. Started fairly low level when I was 18 at a company that outsourced tech staff for financial institutions....started with trading floor desktop support like replacing phones, doing desk moves, replacing keyboards, fixing printers, telecommunications etc and managed to learn enough about finance to move into application support and finance specific tech stuff and just took it from there. Spent most of my career at a large macro hedge fund, and moved into the more traditional asset management industry a few years ago. Not quite as interesting, but certainly less volatile! Combination of hard work, a lot of luck, and aggressively taking opportunities when they arise!
Congrats, and no school debt I'll bet!
No, no education debt. I’m not one of these ‘college is a waste of time’ types though. I recognize that I’m very fortunate and have had a certain amount of ‘right place, right time’ luck, starting with just being born in a prosperous country (UK) with opportunities available to me. I feel very strongly that most high earners grossly overestimate the hard work factor and way under estimate the luck/timing factor.

Sic Vis Pacem
Posts: 31
Joined: Mon Sep 04, 2017 8:25 pm

Re: High Earners - What's Your Profession?

Post by Sic Vis Pacem » Wed Nov 07, 2018 5:46 pm

Lawyer (associate), AMLaw 200 firm in the Midwest at $180k, plus merit bonus depending on the year. My wife is a dietitian by training, M.S. in regulatory affairs, and has very recently landed a +100k job as a regulatory affairs manager for a smallish food manufacturer. We're both 34 and anticipate a healthy increase in our family income if/when I make partner and as she grows into her role.

fennewaldaj
Posts: 318
Joined: Sun Oct 22, 2017 11:30 pm

Re: High Earners - What's Your Profession?

Post by fennewaldaj » Wed Nov 07, 2018 10:10 pm

dziuniek wrote:
Wed Nov 07, 2018 9:04 am
fennewaldaj wrote:
Wed Nov 07, 2018 2:01 am
grokzilla wrote:
Tue Nov 06, 2018 8:40 pm
MikeG62 wrote:
Tue Nov 06, 2018 12:48 pm
Senior finance executive public company.

Also I would not consider a cutoff of $100K a high earner. I’d be thinking more along the lines of north of mid six figures. At that level you are well beyond making ends meet with the opportunity to save a considerable amount and doing something different (retire early to a life filled with lots of experiences).

Others may draw the line higher (and would not be wrong in doing so).

I’d offer as an example, mybother and sister in law who live on LI. They earn $200K between them and basically makes ends meet. They have little spare income or savings outside of workplace retirement plans.
Agree that $100K isn't super high income, but its all relative to where you currently are. I know it seemed pretty darn high when I was well under it.

Top 5% income in the US sits around $200K and Top 1% sits a bit above $400K. The real magic probably starts in that window.

You can live very comfortably anywhere on the entire planet on an income of $200K. Time for you to stage a brotherly intervention on his spending? :D

We're marketing consultant and corp exec.
To me not considering a family income of 200k high is absurd/out of touch
Top 10% for us with 200k-ish income for our zip, per the website linked by student.

And we don't even live in a fancier* town, nevermind some of the insanely expensive towns in CT (looking at you Greenich, Darien, etc ;p)

To me it isn't absurd or out of touch. It's all relevant to your area.

EDIT:

Looking more into the data, the MEAN for top 20% is $240k in my zip code. So we're below that, for whatever that's worth.
Sure but a zip code is a pretty small area. And a whole area can be high income even in terms purchasing power. Just living next to a bunch of high income people doesn't make you not high income though it may make you feel poorer. As has been pointed out by triceratops we are really all high income when considered in relation to the whole world.

dziuniek
Posts: 491
Joined: Mon Jul 23, 2012 2:54 pm
Location: Corrupticut

Re: High Earners - What's Your Profession?

Post by dziuniek » Thu Nov 08, 2018 8:51 am

fennewaldaj wrote:
Wed Nov 07, 2018 10:10 pm
dziuniek wrote:
Wed Nov 07, 2018 9:04 am
fennewaldaj wrote:
Wed Nov 07, 2018 2:01 am
grokzilla wrote:
Tue Nov 06, 2018 8:40 pm
MikeG62 wrote:
Tue Nov 06, 2018 12:48 pm
Senior finance executive public company.

Also I would not consider a cutoff of $100K a high earner. I’d be thinking more along the lines of north of mid six figures. At that level you are well beyond making ends meet with the opportunity to save a considerable amount and doing something different (retire early to a life filled with lots of experiences).

Others may draw the line higher (and would not be wrong in doing so).

I’d offer as an example, mybother and sister in law who live on LI. They earn $200K between them and basically makes ends meet. They have little spare income or savings outside of workplace retirement plans.
Agree that $100K isn't super high income, but its all relative to where you currently are. I know it seemed pretty darn high when I was well under it.

Top 5% income in the US sits around $200K and Top 1% sits a bit above $400K. The real magic probably starts in that window.

You can live very comfortably anywhere on the entire planet on an income of $200K. Time for you to stage a brotherly intervention on his spending? :D

We're marketing consultant and corp exec.
To me not considering a family income of 200k high is absurd/out of touch
Top 10% for us with 200k-ish income for our zip, per the website linked by student.

And we don't even live in a fancier* town, nevermind some of the insanely expensive towns in CT (looking at you Greenich, Darien, etc ;p)

To me it isn't absurd or out of touch. It's all relevant to your area.

EDIT:

Looking more into the data, the MEAN for top 20% is $240k in my zip code. So we're below that, for whatever that's worth.
Sure but a zip code is a pretty small area. And a whole area can be high income even in terms purchasing power. Just living next to a bunch of high income people doesn't make you not high income though it may make you feel poorer. As has been pointed out by triceratops we are really all high income when considered in relation to the whole world.
Agreed. I guess it's looking at the whole picture versus pockets or subsets of population.
I will always feel poor, this is by design - savings rate.

That being said, we do compare ourselves to people around us, I think.

Also, you would probably want to take out the outliers from the group. (like $2/day or $20M/yr)

wbrianwhite
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Re: High Earners - What's Your Profession?

Post by wbrianwhite » Thu Nov 08, 2018 10:47 am

Low 40s, HCOL pnw market, combined income of ~$440k.

Me: principal software engineer.
Wife: currently a manager in IT, previously a business analyst.

Some of my income is RSUs and I'll lose that when I change jobs next year, but I just can't deal with my company any more. RSUs have kept me here longer than I wanted to stay.

Livehard1234
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Re: High Earners - What's Your Profession?

Post by Livehard1234 » Sun Nov 11, 2018 6:15 pm

Director at FANG company. Make ~$750k depending on RSU performance. DW works as a non-profit strategy consultant. ~$200k. I am in my early 40’s and she is mid 30’s with two small kids. We are both home before 6 pm most nights, but I do travel occasionally and have very early mornings. We are beyond blessed and spend as if it could go away any time, as it can.

HEDGEFUNDIE
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Re: High Earners - What's Your Profession?

Post by HEDGEFUNDIE » Sun Nov 11, 2018 8:25 pm

Livehard1234 wrote:
Sun Nov 11, 2018 6:15 pm
Director at FANG company. Make ~$750k depending on RSU performance. DW works as a non-profit strategy consultant. ~$200k. I am in my early 40’s and she is mid 30’s with two small kids. We are both home before 6 pm most nights, but I do travel occasionally and have very early mornings. We are beyond blessed and spend as if it could go away any time, as it can.
How much base salary? 750 is more like VP pay at my Bay Area tech company.

Livehard1234
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Re: High Earners - What's Your Profession?

Post by Livehard1234 » Sun Nov 11, 2018 8:52 pm

HEDGEFUNDIE wrote:
Sun Nov 11, 2018 8:25 pm
How much base salary? 750 is more like VP pay at my Bay Area tech company.
Base is low. At the exec level, 75%+ of total comp comes from RSUs at my company.

jay99
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Re: High Earners - What's Your Profession?

Post by jay99 » Sun Nov 11, 2018 8:54 pm

Nathan Drake wrote:
Sun Jan 12, 2014 5:59 pm
What's the easiest way to get into these sales jobs that command 200-500K+ compensation, work at home, get all your travel expenses paid for, and generally only spend an honest 30 hours towards work a week?

Sounds like a pretty sweet gig.
hmm...get in mega corp and work your way up. I am not a born sales person but highly trained, competitive, and consultative sales person solving business problems working 50 plus hours a week. Yes it pays well 400k to 600k in Enterprise Sales.

Dinosaur Dad
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Location: Connecticut

Re: High Earners - What's Your Profession?

Post by Dinosaur Dad » Sun Nov 11, 2018 9:36 pm

hmm

Here's a slightly different take on this question and maybe a little rant mixed in:

I'm 62, HCOL area (Connecticut), until about 3 years ago was making about $200k in total at corporate market research job. BUT:

1. didn't always make that much, but adjusted spending to ensure a high savings rate especially early on
2. invested in grad school right after college since I thought it would give me a leg up (it did)
3. got laid off of big corp two years ago, now making about $135...but because I was careful and paid off my house early I'm doing ok and am protecting investments in the process to hopefully bridge to medicare;

So moral of the story: (1) yes high earning is great and do it if you are able - clearly this forum attracts smart, accomplished people but not everyone here is super high income; (2) be aware that things change in life and you will face obstacles...no guarantees that super high income stays that way forever; (3) you always have some things you can control like spending (i.e. the demand end of supply and demand) and hopefully investments in your own personal capital.

I guess I'm saying that a singular focus on pure income can be shortsighted. There are a lot of levers you can pull. I'm betting there are as many (or more) "millionaires next door" here as there are super high income folks. What's the expression..."Grow Rich Slowly?" :happy
"Take calculated risks - that is quite different from being rash." | General George S. Patton

four7s
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Re: High Earners - What's Your Profession?

Post by four7s » Sun Nov 11, 2018 10:29 pm

"Rhinestone Carney" working Fairs and Festivals across the USA for six months per year, 16-18 hours per day, 7 days a week. Six months off to relax and travel. Lots of hard work and lots of time off. Can't complain.

Cuzz35
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Re: High Earners - What's Your Profession?

Post by Cuzz35 » Mon Nov 12, 2018 12:21 pm

I guess I've made it into the "club."

32 year old CPA
3rd year as a manager in a niche group serving high net worth individuals.
Large regional firm
Medium to low cost of living
Base Salary $115k
Bonuses anywhere from 5-20%
I was a late starter. I've been doing this for 6 years. My progression is probably not typical. I think my interest in personal finance combined with having gone into a niche at a very high growth firm has helped me tremendously. I'm essentially managing more revenue than any other manager on my team (in some cases twice as much). Because of this I'll probably be promoted to senior manager next year with partner very obtainable within 3-4 years after.

I am very lucky to be where I am as I didn't take my first three years of my first undergrad (finance) seriously and graduated during the great recession. Fortunately I was able to go back to school and get an accounting degree. I was lead to tax by randomly reaching out to folks that went to the same college I did that were actually doing financial planning. It was this persons advice to learn tax and so I went all in.

My wife is a stay at home mom. We have 3 children, 7 years, 2 years and 6 months.

PJmillennial
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Re: High Earners - What's Your Profession?

Post by PJmillennial » Mon Nov 12, 2018 1:51 pm

Interesting thread. While I'm not a "high earner" yet it is and interesting discussion to see what people think qualifies.

Both 30.

When my wife was working we had an income of close to 110K which didn't feel like we were living high on the hog. We were able to save a little here and there but didn't realize how much of a blessing that was.

Now she stays at home with our children. I'm able to bring home about 80K now by myself as an hourly shop supervisor working 40-45 hours a week. next year should be my first 100K year. Even with the decrease in income we are able to save much more and overall have an easier life due to the budgeting we started out of necessity.

In the next 3-5 years I will be working into an ownership position and should be able to double to triple that income in a machining/manufacturing environment. This isn't a niche market, but I am lucky to be naturally good at it as well as working hard to distance the shop from it's competition. This is not a trade that is necessarily known for high earning potential, but it can be done.

FWIW I am already about 70th percentile for my area and wouldn't want to have to plan my life on less. I'm happy for with the potential for upward mobility.

student
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Re: High Earners - What's Your Profession?

Post by student » Mon Nov 12, 2018 1:52 pm

PJmillennial wrote:
Mon Nov 12, 2018 1:51 pm
Interesting thread. While I'm not a "high earner" yet it is and interesting discussion to see what people think qualifies.

Both 30.

When my wife was working we had an income of close to 110K which didn't feel like we were living high on the hog. We were able to save a little here and there but didn't realize how much of a blessing that was.

Now she stays at home with our children. I'm able to bring home about 80K now by myself as an hourly shop supervisor working 40-45 hours a week. next year should be my first 100K year. Even with the decrease in income we are able to save much more and overall have an easier life due to the budgeting we started out of necessity.

In the next 3-5 years I will be working into an ownership position and should be able to double to triple that income in a machining/manufacturing environment. This isn't a niche market, but I am lucky to be naturally good at it as well as working hard to distance the shop from it's competition. This is not a trade that is necessarily known for high earning potential, but it can be done.

FWIW I am already about 70th percentile for my area and wouldn't want to have to plan my life on less. I'm happy for with the potential for upward mobility.
Awesome. Thank you for sharing.

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wabbajack
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Re: High Earners - What's Your Profession?

Post by wabbajack » Mon Nov 12, 2018 3:43 pm

Here's my go to joke when people ask about my profession:
I don't do math unless I'm being paid
Cracked 6-figures last year (age 25) and felt good about myself. After reading the last few pages, I feel like a pauper. According to statisticalatlas.com, I would be ~90th percentile for HHI for my city. If I drove 3 miles in a certain direction, I would be solidly in the ~55th percentile.

Bird Exception
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Re: High Earners - What's Your Profession?

Post by Bird Exception » Mon Nov 12, 2018 4:02 pm

Nathan Drake wrote:
Sun Jan 12, 2014 5:59 pm
What's the easiest way to get into these sales jobs that command 200-500K+ compensation, work at home, get all your travel expenses paid for, and generally only spend an honest 30 hours towards work a week?

Sounds like a pretty sweet gig.
Start a business brokering transactions in a complex industry with high Customer Lifetime Value.

My field is custom manufacturing of electronics, plastics, and metals. I earn recurring commissions on every successful deal.

Work from home, self-directed schedule, pre-tax earnings >$240K this year.

Edit: You don't have to START the business. I joined a well-established company whose owners were nearing retirement. Bought them out 50/50 with a partner after 6 years.
Who's playing for second?

neuro84
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Re: High Earners - What's Your Profession?

Post by neuro84 » Mon Nov 12, 2018 7:19 pm

Just to keep you all from being jealous of physicians as a group:

Age 34, graduated medical school in 2014 age 30 (spent last 4.5 years working on avg 60-70h/wk during residency and fellowship). In 2018 I expect my income to be about 70k with moonlighting. In mid-2019 it finally goes up to ~200k.

Physician training kind of sucks, financially. Something to keep in mind when comparing numbers is the lead-in to these salaries. Physician income has a long flat period until we've finished 4 years of graduate school followed by 3-7 years of postgraduate training. Meanwhile my same-age friends who went into management consulting have been making six figures for the better part of a decade now.

Sportswhiz00
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Re: High Earners - What's Your Profession?

Post by Sportswhiz00 » Mon Nov 12, 2018 7:26 pm

Biglaw attorney.

grkmec
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Re: High Earners - What's Your Profession?

Post by grkmec » Tue Nov 13, 2018 1:23 pm

darrvao777 wrote:
Tue Nov 06, 2018 8:15 pm

early to mid 30s
MD
>$1M, <40 hours/week
surgical subspecialty
4 years experience, I was making that income by year 2
This is not a common pathway in medicine so of course I think it's worth it and feel incredibly blessed.
Which surgical subspeciatly ?

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