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How realistic is this though? Imagine you come out of college and work for the Big 4 making $100k. Assuming you make 10% more (compounding) every 2 years, by 38
by acconrad 9y ago
How realistic is this though? Imagine you come out of college and work for the Big 4 making $100k. Assuming you make 10% more (compounding) every 2 years, by 38-36 you would make over $200k, by 50 you are making close to $500k. You hit that much sooner if you change those numbers by 20%. At what point do those returns diminish and you're having to do something more creative than simply looking for a job every 2 years?
- corobo 9y agoHow realistic (better question - how likely) is it to set the start point at $100k? I think I was earning (the equivalent of) $8k/year in my first job hah
- dmoy 9y agoFor the big tech employers, specifically as a software developer, a reasonable start point now is probably 140-150k. If that's the premise from GP.
- patrickbeeson 9y agoThis is highly dependent on where you live. Those figures are very high for the Portland, OR area for instance.
- phd514 9y agoIMO, you see diminishing returns once you reach somewhere between ~125k (if you're in a low-demand area) and ~250k (if you're in a high-demand area such as the Bay Area). To get above that, you generally need to both switch jobs and be good at what you do.
- deleted 9y ago[deleted]
- charleslmunger 9y agoI came out of college 4 years ago and started working at the Big 4, making ~100k base salary. Both my base salary and my total compensation have more than doubled. Getting promoted at a big 4 company is equivalent or better than the value quoted in this article for switching jobs - promotions usually entail a 20-40% total compensation bump, depending on where you were in your previous salary band.