That is insane. You think you are making over 100 times what you started at and want to be 10000 times the starting point. That is mind blowing even if you started pretty low. Are you inheriting a business?

f burg ag said:

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Big 4 through 2002 and then switched to slightly smaller firm for work/life balance.

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Got it. I'm in year 7 at a Big 4 firm and my progression looks almost identical to yours to this point. Won't get to over 4x until I get to partner but after that it's pretty much off to the races benchmarking on the original salary out of school.

The reason my progression is a little more pronounced is because there were 2 large market adjustments after I started in 1997. The starting salaries in public in 1997 were laughable compared to what they are today.

Great topic about 100k as "making it"


I'd say 150k is where life begins to change nowadays.

150 is where saving 2000+ per month is easily doable. 200k is easy street and somewhat hard to spend.

I have three kids for reference in large city

powerbelly51 said:

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evestor1 said:

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150 is where saving 2000+ per month is easily doable. 200k is easy street and somewhat hard to spend.

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I see you haven't met my wife.

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i have not read this book but have listened to a podcast about it. If serious in your comment suggest reading similar book with your wife.

https://www.amazon.com/Family-Inc-Business-Principles-Maximize/dp/1119219736

Ragoo said:

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powerbelly51 said:

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evestor1 said:

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150 is where saving 2000+ per month is easily doable. 200k is easy street and somewhat hard to spend.

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I see you haven't met my wife.

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i have not read this book but have listened to a podcast about it. If serious in your comment suggest reading similar book with your wife.

https://www.amazon.com/Family-Inc-Business-Principles-Maximize/dp/1119219736

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It was a joke.

I knew it was a joke, thus the "if serious". but most jokes are rooted in some truth.

Ragoo said:

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I knew it was a joke, thus the "if serious". but most jokes are rooted in some truth.

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What about that Bavarian cream pie joke I told you? There's no truth to that. Nobody with a terminal illness goes from the United States to Europe for a piece of Bavarian cream pie and then when they get there and they don't have it he says, 'Ah, I'll just have some coffee.' There's no truth to that.

Thanks. Now I see.

Scott95 said:

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Ragoo said:

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I knew it was a joke, thus the "if serious". but most jokes are rooted in some truth.

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What about that Bavarian cream pie joke I told you? There's no truth to that. Nobody with a terminal illness goes from the United States to Europe for a piece of Bavarian cream pie and then when they get there and they don't have it he says, 'Ah, I'll just have some coffee.' There's no truth to that.

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1993 - x
1997 - 2x
1999 - 5x
2005 - 8x
2008 - 10x
2011 - 16x
2013 - 18x
2016 - 23x

2011 - x
2013 - 1.5x
2014 - 1.75x
2017 - 1.75x

I made a lot of salary growth in my first few years out of school, but the O&G downturn has stalled it. We haven't had any raises or bonuses since 2014. I keep telling myself I should just be thankful to still have a job, but that's starting to get pretty old. Especially since healthcare benefit costs have gone up a considerable amount since 2014 as well.

If we're just talking salary:

2013 - x
2014 - 1.05x
2015 - 1.05x
2016 - 1.1x
2017 - 1.22x (Job Change)

But bonuses and long term incentives have always been significant parts of the compensation.

2006: x
2009: 2.15x job change
2013: 2.5x job change
2017: 3.5x promotion

elnaco said:

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2011 - x
2013 - 1.5x
2014 - 1.75x
2017 - 1.75x

I made a lot of salary growth in my first few years out of school, but the O&G downturn has stalled it. We haven't had any raises or bonuses since 2014. I keep telling myself I should just be thankful to still have a job, but that's starting to get pretty old. Especially since healthcare benefit costs have gone up a considerable amount since 2014 as well.

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i posted similar sentiment earlier in the thread. salary without increases doesn't keep up with inflation over 3 years.

Ragoo said:

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elnaco said:

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2011 - x
2013 - 1.5x
2014 - 1.75x
2017 - 1.75x

I made a lot of salary growth in my first few years out of school, but the O&G downturn has stalled it. We haven't had any raises or bonuses since 2014. I keep telling myself I should just be thankful to still have a job, but that's starting to get pretty old. Especially since healthcare benefit costs have gone up a considerable amount since 2014 as well.

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i posted similar sentiment earlier in the thread. salary without increases doesn't keep up with inflation over 3 years.

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Nope. Throw in no bonuses / reduced bonuses and profit sharing / retirement sharing reductions and it definitely hurts. I did the math the other day when our 2018 insurance costs were announced (another $2100 year more) and wanted to cry.

It amounted to a 5 figure loss in income yearly the last 3-4 years for me.

Seems you were more than happy to accept much greater than inflation raises during the good years.

That's just the nature of the O&G industry.

AggiEE said:

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Seems you were more than happy to accept much greater than inflation raises during the good years.

That's just the nature of the O&G industry.

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I've only been in O&G for 5 years. Just long enough for one raise and it was just barely better than inflation. Not everyone works for a major or a service company.

Nope and the trying to change jobs is such a clusterfook right now. Still a bunch of unemployed folks out there and every job that opens up has candidates applying with more experience than required. Just have to wait it out I guess and admittedly I haven't been networking as aggressively as I should be.

AggiEE, I agree that it's the nature of the industry however, my company has been on an upturn and we're exceeding profit targets by having lean teams that survived multiple rounds of layoffs deliver work that normally takes double the personnel. We've all been busting it so personally, I think at least bonuses have been earned. After all, our upper management has continued to pat themselves on the back and give themselves bonuses this whole time. Funny how in all of the lay-offs and overhead reducing they've never once proposed cutting their bonuses.

GenericAggie said:

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1993 - x
1997 - 2x
1999 - 5x
2005 - 8x
2008 - 10x
2011 - 16x
2013 - 18x
2016 - 23x

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What profession are you in?

GE said:

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GenericAggie said:

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1993 - x
1997 - 2x
1999 - 5x
2005 - 8x
2008 - 10x
2011 - 16x
2013 - 18x
2016 - 23x

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What profession are you in?

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Better yet, hiring?

The O&G market has been taking over by Wall Street. Kiss raises goodbye bc they expect results every year...even in downturns.

Long gone are the days of "it was a good year so let's reward our people." The norm now is to blame two years ago bc we "missed earnings two consecutive quarters." Oh - and you'll still get laid off the same as the old days minus the bonuses and raises during good times.

Start a company and hope it grows. The percentage chance of profitability is pretty even w chance of getting a yearly raise and a bonus for 2 straight years.

I had been really frustrated at times with my lack of salary growth, but it's helpful to see how many others have somewhat normal, modest incomes as well. I feel like I'm surrounded by all my friends making double to triple what I do and at times it gets to be a downer. Good discussion.

2010 - 30k
2012 - 34k
2013 - 43k
2014 - 56k
2016 - 60k
2017 - 62k
2018 - have a couple interviews next week that I've got a great feeling about. They would be closer to 80k

Major: sport management
Industry: nonprofit development

Technology.

2008 - $20,800
2013 - $39,800
2018 - $53,600

At least I am making over twice as much as when I started

Teacher?

ZooGuy said:

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I start crying inside whenever I see anyone post salaries. I definitely went to the wrong field.

NEVER get a degree in Wildlife or Education unless you want to be destitute!

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Or better yet, NEVER get a degree in psychology. I always say a BS a degree in psychology is just that B _ _ _ Sh*_ In fact, I was in grad school and couldn't finish because I was dependent on grants. I was writng them or administering to make a living. One day they are here the next day they are gone.

Zosima said:

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Thanks. Now I see.

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heh, salary is explained at the end. The multiples are net worth.

BBA in Marketing

Started in property management, now in software development.

2011 - 1.0x
2012 - 1.3x
2013 - 1.3x
2014 - 1.8x Job change
2015 - 1.9x
2016 - 2.0x
2017 - 2.2x

2001 - 1.0x
2008 - 2.0x
2012 - 2.5x
2016 - 3.0x
2018 - should be about 3.5x but we shall see.

IrishTxAggie said:

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Teacher?

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Armed Security