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How much could a banana possibly cost? $10? Let’s just throw out one company as an example: let’s say you graduate from undergrad today and join Google as a fa
by bigcorp-slave 6y ago
How much could a banana possibly cost? $10?
Let’s just throw out one company as an example: let’s say you graduate from undergrad today and join Google as a fairly unremarkable new hire. Your average first year total compensation is $187k/year. If you negotiate well that can easily exceed $200k. If you do well in your career, three years later you’ll be an L4 earning an average of $263k/year. There are a number of companies that pay this well. All of FAANG is >$150k/year fresh out of undergrad.
What I am saying is: if you decide early enough that you don’t want to be a wage slave your entire life, and you are talented and a bit lucky, you can wage slave for ten years and call it good, then spend 30-death doing whatever you want. The biggest danger, and one I’m wrestling with now, is that you get addicted to it.
Thanks for providing the interesting article - sounds like you’ve lived a fun and variety-filled life so far. That’s fantastic and I’m a little jealous of you, but you compromised real economic utility by doing so. I think it’s a popular model, lots of people spend their 20s having adventures and making little money. Nothing wrong with that - but if instead you spend your twenties soullessly grinding away, thanks to the time-value of money you can have the rest of your life to have adventures.
There are plenty of entry level jobs for people with bachelors degrees that pay $150k-$200k. You might have to make a lot of sacrifices to get them.
For me, I didn’t graduate making this kind of money but ended up in the can-FIRE bucket anyway due to saving and market performance. But it wasn’t like it wasn’t possible, I was unaware that such jobs existed.
- fr11 6y agotwenty years ago it was common to make this argument about investment banking. I know a bunch of people who went into investment banking, claiming to intend to quit after a decade. A few did, but most did not. The problem seems to be that humans acclimate, and so spending ten years on an enormous salary puts most people in a place where they don't feel like they can live on the modest salary they'll have if they retire.
- rufus_foreman 6y agoYour original post was about "industries like software". The category of people who work in industries like software is much larger than the category of people who are hired by Google right out of college. If you are hired by Google right out of college, first of all, you are willingly participating in an evil organization. No excuses. But yes, if you are hired by Google right out of college you should have no problem doing FI/RE. Most of the software industry is writing CRUD apps for banks, insurance companies, and other similar large established corporations. You can still do FI/RE, but cut all the numbers in your examples by half, probably more.