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| Business, Finance, and Investing Making money, investing in markets, and running businesses |
06-20-2012, 01:16 PM
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#31
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adept
Join Date: May 2012
Posts: 855
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Re: How hard is it to make 100k+/year before taxes?
can someone give examples of sales jobs that you can reasonably make $100k where a) employee isn't fairly on hiring (pharma, ITservices, IBanking etc.) or doesn't require yearsmof building the business (stock brokerage, insurance, residential real estate)
two i thought of: mortgage broking (pre-credit crisis), commercial real estate,sales/leasing. and then for the latter u need quite a bit of luck, connection, brains, gumption etc.... maybe selling cars too
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06-20-2012, 03:59 PM
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#32
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journeyman
Join Date: May 2012
Posts: 203
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Re: How hard is it to make 100k+/year before taxes?
Quote:
Originally Posted by HyperionMark
Reading suggestions about what? Real estate?
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on the reasons why renting would be better than buying as a long term plan, maybe you knew of an article or w/e
as someone who lives in a nice part of london i totally disagree with '100k isn't much' btw, if you're single. i wonder what henry's spending habits are :/ sure, rent is 50k, but what is the other half? 4k/month rent excluded is a very nice life ~anywhere. it is in london for sure
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06-20-2012, 04:07 PM
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#33
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Pooh-Bah
Join Date: May 2006
Location: que, said che
Posts: 4,728
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Re: How hard is it to make 100k+/year before taxes?
Quote:
Originally Posted by HyperionMark
In America the median home value has averaged a 6% gain every year since 1963. And that is including this recent downturn. Combine that with leverage and tax deductions and you have a recipe for profit.
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Even though the initial post didn't address the actual question, this reply certainly will not help you earn more faster.
Making it harder on yourself to move closer to another, much better paying job, will not help you get to those levels faster.
Add in the pressure to retain just about any job to make mortgage payments in order not to lose the invested capital probably will make you avoid any upside potential with downside risk in job movements.
Apart from that, even from an "investment" point of view, I find the argument rather weak. Geographical mobility has more potential increasing your net worth over time than hoping to scalp a few points above inflation if all goes well.
And while I do not know the American housing market well, it seems that the places where buying is mathematically superior to renting, the job market limitations may just erode that edge from the get go.
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06-20-2012, 04:35 PM
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#34
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centurion
Join Date: Oct 2009
Location: Toronto, Canada
Posts: 142
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Re: How hard is it to make 100k+/year before taxes?
Quote:
Originally Posted by dc_publius
No one needs a 5,000 square foot house with a game room and a pool. We could all live in small shoeboxes. But you know what? A big house, huge yard, sweet pool, and a basement theater and gameroom are awesome.
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Yeah, it's great until you realize it's just another form "enslavement".
Unless you have unlimited wealth and an army of trustworthy personal assistants, the more material goods you have, the more details you have to manage - and then the cost of upkeep becomes ridiculous so that you're forced to work at certain jobs to keep the lifestyle going, even if you don't want to.
Once you get to a certain lifestyle, you need a job that pays at least $200k a year just to stay still (example: big mansion = big costs includes $50,000-$75,000 per year just for maintenance and property taxes if you live in a big city). Just like it's hard to upgrade your lifestyle, it's hard to downgrade (e.g. family commitments).
Careful what you wish for.
Going back to the OP's question, it's gotten much hard to make 100k-200k per year than pre-Lehman (2008 crisis). I think only finance (i-banking, sales and trading) and maybe management consulting still has some potential for young guys to make that kind of doug within a few years of graduation. As for everyone else, downgrade your expectations.
Last edited by dcx135; 06-20-2012 at 04:40 PM.
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06-20-2012, 05:00 PM
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#35
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grinder
Join Date: Jul 2007
Location: Seattle
Posts: 546
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Re: How hard is it to make 100k+/year before taxes?
Quote:
Originally Posted by dcx135
Yeah, it's great until you realize it's just another form "enslavement".
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This may be true for some people, but I don't see why it's some people's dreams to sit around and do nothing all day. What's the point in having all that money if you don't spend it? Retire and watch cable all day in your 1 BR condo does not seem like a great life to me.
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06-20-2012, 05:04 PM
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#36
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grinder
Join Date: Jul 2007
Location: Seattle
Posts: 546
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Re: How hard is it to make 100k+/year before taxes?
Googled jobs that pay over 100k and posting the yahoo response.
http://answers.yahoo.com/question/in...1194615AAVdHbw
Jobs that pay over 100k eventually.
Median pay
Rank Job title Best Jobs rank Median pay*
1 Anesthesiologist 68 $290,000
2 General Surgeon 75 $260,000
3 Emergency Room Physician 25 $250,000
4 Obstetrician / Gynecologist 100 $210,000
5 Psychiatrist 29 $185,000
6 Primary Care Physician 34 $174,000
7 Nurse Anesthetist 13 $156,000
8 Product Management Director 15 $148,000
9 Software Engineering / Development Director 18 $144,000
10 Sales Director 8 $142,000
11 Dentist 12 $142,000
12 Actuary 11 $133,000
13 Senior Sales Executive 32 $127,000
14 Software Architect 1 $119,000
15 Attorney / Lawyer 55 $118,000
16 Management Consultant 3 $117,000
17 Research & Development Manager 39 $116,000
18 Computer and Information Scientist 35 $115,000
19 Accounting Director 69 $112,000
20 Optometrist 56 $108,000
Looks like mostly doctors, accountants, lawyers, computer engineers, sales, and project managers/executives.
Also see http://www.buzzle.com/articles/jobs-...over-100k.html
High Paying Jobs Without a Degree
Real Estate Broker
Writer
Event co-coordinator
Commercial pilot
Ship engineer
Detective and Criminal Investigators
Fashion Designer
Radiation therapist
Dangerous Jobs that Pay Well
Crab Fisherman
Oil Rig Workers
Elevator Mechanics
Iron Workers
Mining Workers/Mechanics
Pilots
Electricians
Firefighter
Bodyguard
Bomb Squad
Astronauts
Bounty Hunters
Stunt Man
Last edited by andr3w321; 06-20-2012 at 05:10 PM.
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06-20-2012, 05:21 PM
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#37
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Election Monitor.
Join Date: Mar 2005
Location: Cleveland, OH
Posts: 2,744
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Re: How hard is it to make 100k+/year before taxes?
Quote:
Originally Posted by JayTeeMe
Get your loans paid off.
Follow my plan:
-Live like you're still in college
-Don't buy a house
-Save money by never getting dates with girls
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I lol'd
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06-20-2012, 05:23 PM
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#38
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Election Monitor.
Join Date: Mar 2005
Location: Cleveland, OH
Posts: 2,744
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Re: How hard is it to make 100k+/year before taxes?
Quote:
Originally Posted by Henry17
I feel this way as well -- in fact I think it is impossible to live on that. Then I look at income statistics and realize the vast majority live on a lot less so by definition it must be possible.
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Agreed. Obviously you don't starve but it's definitely not this life:
But you know, someone would make $200K/year and he'd be like, man, if I just made $300K/year.
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06-20-2012, 05:37 PM
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#39
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Carpal \'Tunnel
Join Date: Aug 2007
Location: Sweatshop Fantasy Camp
Posts: 25,186
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Re: How hard is it to make 100k+/year before taxes?
Quote:
Originally Posted by andr3w321
This may be true for some people, but I don't see why it's some people's dreams to sit around and do nothing all day. What's the point in having all that money if you don't spend it? Retire and watch cable all day in your 1 BR condo does not seem like a great life to me.
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We've had this debate before on here. Apparently a lot of people do believe that they would be perfectly happy being unable to do anything that costs money so long as they didn't have to work. I'd obviously vote that is a pretty horrible life but I think their motivation stems from finding being in social situations hard and further being limited by that social issue from ever making much more than low-middle class.
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06-20-2012, 05:39 PM
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#40
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journeyman
Join Date: Jul 2008
Location: it means youīre here
Posts: 272
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Re: How hard is it to make 100k+/year before taxes?
OT, but itīs sick how little firefighters earn here in Estonia. They are closing down departments and hoping that a lot of it will be run on volunteering. Thatīs a sick direction, and has been for a long time.
I tried to enroll in Australia for an aviation firefighter program a couple of years ago, but did not have a citizenship. They had massive perks and bonuses and a solid pay even during training + covernment backing on homeloans an so on.
If would have gotten into the program, iīm pretty sure I would still be there. That has always felt like a calling to me.
Dental also pays very well and dental technicians have a very relaxing work-environment.
I worked as an assistant to the technicians for a little because i wnated to enroll and itīs hard to get in. Getting into thta field with no prior experience, it definitely seem like a steady and stable, while interesting, medical job. And at leats they said, that guys are very welcomed in this industry because there is an overwhelming womenly presence. Where i worked, there were 70 women and 4 men, including me.
Another thing, thatīs really interesting, to me at least, seems this ship salvage overall thing. That was an idea after the firefighting. I lucked myself into engineer-diving in our conscript army service and somebody offered me multiple times to teach me welding (stupid enough to not take the lesosns or get further diving licences. Atm only basic AOWD). But, later, looking into it, commercial diving has too big of a competition. And the schools are really expensive. Somebody told me that itīs easier and cheaper to become a really good tech-diver, even from PADI and then find a niche little diving job away from rigs.
Anyway, some specific skills definitely come in handi and i think are very rewarding later on. Those tree steps look very funny looking back, as they now seem like an obvious choice to continue, but somehow I have managed instead to become a busto start-up guy with a unfinised law B.A. Well played.
Last edited by jaakkang; 06-20-2012 at 05:43 PM.
Reason: some typos
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06-20-2012, 06:12 PM
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#41
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old hand
Join Date: May 2009
Location: Denial
Posts: 1,303
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Re: How hard is it to make 100k+/year before taxes?
Quote:
Originally Posted by rivercitybirdie
can someone give examples of sales jobs that you can reasonably make $100k where a) employee isn't fairly on hiring (pharma, ITservices, IBanking etc.) or doesn't require yearsmof building the business (stock brokerage, insurance, residential real estate)
two i thought of: mortgage broking (pre-credit crisis), commercial real estate,sales/leasing. and then for the latter u need quite a bit of luck, connection, brains, gumption etc.... maybe selling cars too
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New home sales. My wife does it and at the height she made $300K and at the bottom she made $95K (this was in 2009). Of course this is dependent on you having sales ability and not living in Vegas, Phoenix, or some other housing bust city. It is not that hard to do and not that hard to get into to as long as you have some type of sales experience or a degree (most builders could care less what your degree is in).
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06-20-2012, 10:18 PM
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#42
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journeyman
Join Date: Mar 2008
Posts: 398
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Re: How hard is it to make 100k+/year before taxes?
Quote:
Originally Posted by V0dkanockers
New home sales. My wife does it and at the height she made $300K and at the bottom she made $95K (this was in 2009). Of course this is dependent on you having sales ability and not living in Vegas, Phoenix, or some other housing bust city. It is not that hard to do and not that hard to get into to as long as you have some type of sales experience or a degree (most builders could care less what your degree is in).
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Please don't make comments like this. If it wasn't "that hard" to make $95k+ in a terrible real estate market, I think more people would be doing it.
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06-20-2012, 10:27 PM
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#43
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veteran
Join Date: Mar 2005
Location: 128,200ft. Can't touch this.
Posts: 2,697
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Re: How hard is it to make 100k+/year before taxes?
Quote:
Originally Posted by Henry17
I feel this way as well -- in fact I think it is impossible to live on that. Then I look at income statistics and realize the vast majority live on a lot less so by definition it must be possible.
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Really?
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06-20-2012, 10:57 PM
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#44
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stranger
Join Date: Mar 2009
Posts: 4
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Re: How hard is it to make 100k+/year before taxes?
One thing I haven't seen mentioned in this thread is becoming a petroleum/chemical engineer and then going to work for Exxon, Chevron, etc. I have multiple friends that just got hired straight out of college and will be making over 100k+, granted I don't exactly envy the hours they have to work or the thought of working on an oil rig.
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06-21-2012, 12:29 AM
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#45
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adept
Join Date: Sep 2004
Location: Bay Area, CA
Posts: 890
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Re: How hard is it to make 100k+/year before taxes?
Me: 100k + ~10% bonus, Project Manager (software), 5 years since out of school, Masters in Electrical Engr.
Friend1: 130K +~10% bonus, Engineering Manager (mechanical engineering for oil rigs), BS in Mechanical Engr.
Friend2: 115K + ~10% bonus, Senior Developer (software), BS in Electrical Engr.
We are all 30 to 32 yo.
I expect to be making at least 150k within 5 years if nothing crazy happens. I would say that most people in my company makes 100k+ within 5 years of employment, straight out of engineering school.
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