Author Topic: How to make over 100k salary  (Read 1601 times)

rws

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How to make over 100k salary
« on: October 11, 2018, 06:26:12 PM »
Anyone out there who makes a 6 figure a year salary (individually, not combined income)... HOW do you do it?

Goldielocks

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Re: How to make over 100k salary
« Reply #1 on: October 11, 2018, 06:34:31 PM »
Anyone out there who makes a 6 figure a year salary (individually, not combined income)... HOW do you do it?
Professional license and at least 10 years of experience should just about do it. *  (Lawyer, engineer, CPA, CFP, Doctor, Dentist, Pharmacist, Psychologist, etc.)   

*Some regions are low cost housing and low cost salary, so this is not guaranteed for everyone with a professional license.  Here, I can add in police officer, teacher, middle manager for government and social worker manger to the list of people close to making $100k with 10 years of experience.... about $90k+ anyway.

MrUpwardlyMobile

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Re: How to make over 100k salary
« Reply #2 on: October 11, 2018, 06:40:55 PM »
Anyone out there who makes a 6 figure a year salary (individually, not combined income)... HOW do you do it?

Garbage men, police officers, doctors, some lawyers, most engineers, talented coders, sales people, bankers, hell teachers in some areas.... 100k salary isnít really a big deal if you live in a hcol area.  Where are you living or looking to live that you want to earn 100k?

BeanCounter

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Re: How to make over 100k salary
« Reply #3 on: October 11, 2018, 06:44:21 PM »
Midwest mid-sized city. CPA with 15 years experience.
Best advice beyond obtaining education and certifications, Be curious. Ask questions to find an area where people need more expertise. Then go learn that. Become the SME.

Eckhart

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Re: How to make over 100k salary
« Reply #4 on: October 11, 2018, 06:46:14 PM »

RyaninLA

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Re: How to make over 100k salary
« Reply #5 on: October 11, 2018, 07:28:11 PM »
First thing is to finish undergrad and pick an industry that isn't notoriously underpaid. Then constantly stretch your limits -- do great work in your day job but also think big and learn. Be prepared to move between cities, states, and countries. It helps to be in places like SF, LA, NYC, LON, HKG, SIN, etc. Seek out high achieving people and fly with them. Stay grounded and be grateful, but with a little luck and some confidence you can earn what you want. Agree $100k isn't all that much so you might find $250k more to your liking ;).

use2betrix

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Re: How to make over 100k salary
« Reply #6 on: October 11, 2018, 08:57:55 PM »
Grit. Deliberate learning and practicing your skills.

Iím not that smart. I have been diagnosed with learning disorders and have a hard time concentrating. I changed my major several times after really struggling/failing in college. I finally went to a trade school and eventually got my associates once I was in the work force.

Iím 30 and make roughly the equivalent of $300k right now in a state with no income tax and a low-medium cost of living area. Iíve made over $200k a few different years and have been making over $100k since I was 24.

That aside - I will outwork so many people. I havenít had a sick day in 7-8 years and have no issue working insane hours when needed. I have learned to work around my shortcomings to make me stand out. I make notes and lists for everything. I set alarms on my phone as constant reminders, I have my emails set up so I never forget to respond to emails that require my input. I use my soft skills to make sure I am liked and hopefully stand out to the people that matter.

Itís amazing how many smart people just suck as employees. They have technical knowledge but suck at everything else. They forget to follow up, forget to respond to emails, forget key responsibilities, have personalities that no one cares to be around, etc.

Itís funny because even around here, everyone wants to blame their work problemís on everyone but themselves. They are obviously bitter about their work, whoís to say that doesnít show in their attitude/performance and that is the key underlying factor? Iím sure all these shitty people Iíve worked with over the years are probably on some forum talking about the raise or promotion they missed because of some ďunderlying factor outside their control.Ē

I honestly believe nearly every average or even a bit below average person has the intelligence to make $100k. Only a fraction of those people have the other skills it takes to bridge that gap, however.

clarkfan1979

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Re: How to make over 100k salary
« Reply #7 on: October 11, 2018, 09:18:58 PM »
If you work 50 hrs./week for 50 weeks/year you need to make $40.00/hr. to get to 100K/year.

I would more interested in a thread labeled, "how to make over $100.00/hr."

If you count benefits, I'm currently at $90.00/hr. I am a community college instructor and have 7 years full-time experience. I work 4 days/week about 8 months/year.




use2betrix

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Re: How to make over 100k salary
« Reply #8 on: October 11, 2018, 09:51:12 PM »
If you work 50 hrs./week for 50 weeks/year you need to make $40.00/hr. to get to 100K/year.

I would more interested in a thread labeled, "how to make over $100.00/hr."

If you count benefits, I'm currently at $90.00/hr. I am a community college instructor and have 7 years full-time experience. I work 4 days/week about 8 months/year.

How many hours a week do you work? Some people really want a higher yearly salary. A high hourly rate is good especially if you want to work for a long time, but some people would rather just make as much as they can to FIRE.

Iíd rather make $100/hr and work 50 hrs a week, vs making $200/hr and only being able to work 10 hrs a week. At least, if faster FIRE was my goal. Just depends if I want to work 10 years or 20 

calimom

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Re: How to make over 100k salary
« Reply #9 on: October 11, 2018, 10:17:51 PM »
First thing is to finish undergrad and pick an industry that isn't notoriously underpaid. Then constantly stretch your limits -- do great work in your day job but also think big and learn. Be prepared to move between cities, states, and countries. It helps to be in places like SF, LA, NYC, LON, HKG, SIN, etc. Seek out high achieving people and fly with them. Stay grounded and be grateful, but with a little luck and some confidence you can earn what you want. Agree $100k isn't all that much so you might find $250k more to your liking ;).

This is one way, and it's a good way, but it's not the only way. Contractors, small business owners, apartment complex investors, long time public service workers can get to six figures. Not their first day out of the gate, it can take hard work, determination and time, but it can happen. And not with big student loan debt.

Unique User

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Re: How to make over 100k salary
« Reply #10 on: October 12, 2018, 06:06:19 AM »
I'm always amazed at how high recruiting salaries are in tech, pharma and consulting - I know several people that make over $100k.  No fancy education, licenses, but you do need to work hard at a lower income to prove yourself in the beginning.  Also most recruiters I know get hired into those roles because someone they know works at that company, so networking is really important.   

Steeze

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Re: How to make over 100k salary
« Reply #11 on: October 12, 2018, 07:04:08 AM »
I show up early and stay late everyday.
I do not make overtime.
I challenge myself, innovate, and automate.
I take responsibility before it is given.
I learn new skills.
I take challenging projects.
I keep score.
My client's satisfaction is mandatory, I look to exceed expectations.
Any unique skill I have I teach to others, or make sure I build a tool, spreadsheet, or write code so those less capable can do my job for me.
I take the extra time to build the tools that will make others more efficient.
I hold myself and others, including the owner and my clients, accountable.
I anticipate mistakes, and work to prevent them.
I find ways to make my company more money faster.
I make myself as valuable as possible, every single day.

If you don't want to super-try .... then

-work in oil and gas
-work in the medical field
-work in software development
-become a licensed professional
-get a highly specialized license
-have 10 years of experience in something

FireHiker

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Re: How to make over 100k salary
« Reply #12 on: October 12, 2018, 10:18:43 AM »
10+ plus years as an electrical engineer.

My niece, who is only in her mid-20's, just got a job offer that's almost 100k, in the Bay Area. I think her degree was some sort of liberal arts B.A., but she's gotten in with the social media world as a program manager and has worked her way up very quickly. Her path has been to work very hard and take on any challenge whenever she has the opportunity. She's done very well and I expect great things from her! Not that 100k will go very far in the SF area, but her fiance is a software developer so I'm sure they'll do just fine.

FamilyGuy

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Re: How to make over 100k salary
« Reply #13 on: October 12, 2018, 10:32:52 AM »
I have 11 years of experience and make over $100k base. I think Information Technology industry pay quite well if you have years of experience & skillset. For me, moving to a new company every 2 to 3 years helped. Unfortunately for many,  if you are in the same company for years, they mistake you for walls. I'd really love to stay with my current company for many years but let's see.

JLee

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Re: How to make over 100k salary
« Reply #14 on: October 12, 2018, 10:50:04 AM »
Motivation and networking. 

I started in tech at $33k 6 years ago and will do around $117k this year.  Five promotions in the first three years followed by a new job.

lbmustache

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Re: How to make over 100k salary
« Reply #15 on: October 12, 2018, 11:05:17 AM »
Grit. Deliberate learning and practicing your skills.

This is important. There is a GREAT podcast featuring Kobe Bryant ("The School of Greatness" podcast) and he specifically talks about this. He was a terrible basketball player, and literally just showed up to the court every. single. day. to become better.

BiggerFishToFI

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Re: How to make over 100k salary
« Reply #16 on: October 12, 2018, 11:34:07 AM »
Engineer with 6 years experience + professional license.

Be better than your colleagues at what you do. If you can perform socially as an engineer you have a huge leg up.

Some luck involved depending on market conditions when you graduate if you get along with your bosses/management etc.

rws

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Re: How to make over 100k salary
« Reply #17 on: October 12, 2018, 11:46:10 AM »
I'm an IT business analyst in NJ with 4 years experience making shy of 70k. Haven't switched companies because i like the stability.

Sounds like software development might be the way to go if i wasn't to reach 100k.

Fishindude

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Re: How to make over 100k salary
« Reply #18 on: October 12, 2018, 12:14:09 PM »
Self employment was the key for me.   Probably wouldn't have done nearly as well working for the other guy.

FLBiker

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Re: How to make over 100k salary
« Reply #19 on: October 12, 2018, 12:22:19 PM »
Personally, I never in a million years expected to make over 100K.  I majored in English, taught English overseas for a number of years, got an MA in Teaching English, taught English overseas again, then became a mid-level admin at an English language program at a large public university in the US.  I was making 40 grand 10 years ago, when I started here.  In the next month or two, I'll be getting a promotion to just over $100K.

How did this happen?  Some of it was luck -- I was here during a time of tremendous change.  At the same time, so were many others, and yet I kept getting promoted.  The advice to "make yourself valuable" is extremely good. 

I used to think my "value" came from "being smart" or "being good with computers" -- I now primarily do database / data analysis stuff, but recently I've come to realize that my real value is my ability to separate the essential from the inessential in any situation.  I don't even think about it.  I know of no other way to take in information.  In meetings, it is very easy for me to keep things focused, to think through ramifications and variations of things, and to quickly eliminate tangents that are flawed / impossible / inferior for some reason.  This may make me seem like a jerk, but I think I'm pretty polite, and I certainly treat my own ideas with the same ruthlessness.  I'm also good at clearly and efficiently documenting policies and processes.  In my experience (and maybe this is because I'm in academia) this ability to cut through the nonsense is a rare skill.

My IT skills have also been helpful, but without the ability to quickly see what matters and what doesn't, I could easily go down rabbit holes with those.  I work with some skilled developers / data analysts who really struggle to see the purpose of what they are doing, despite their technical skills.

FamilyGuy

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Re: How to make over 100k salary
« Reply #20 on: October 12, 2018, 12:23:42 PM »
Motivation and networking. 

I started in tech at $33k 6 years ago and will do around $117k this year.  Five promotions in the first three years followed by a new job.

I suck at networking and I think it has to do with my personality type. I'm an introvert and cannot interact with people for the purposes of networking. This might my self esteem problem. I work hard and demand hard and that's the best that I can do. I demand recognition for my hard work and most often I get it else I get out. :)

FamilyGuy

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Re: How to make over 100k salary
« Reply #21 on: October 12, 2018, 12:26:51 PM »
I'm an IT business analyst in NJ with 4 years experience making shy of 70k. Haven't switched companies because i like the stability.

Sounds like software development might be the way to go if i wasn't to reach 100k.

Yes, business analysts are usually paid in that range. The software developer is okay but depends on what software skillset you develop. Learn open source technologies on data like Spark, Python, R etc. and there is a big market for that. I myself learning Python to increase my skillset.

FamilyGuy

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Re: How to make over 100k salary
« Reply #22 on: October 12, 2018, 12:28:28 PM »
Grit. Deliberate learning and practicing your skills.

This is important. There is a GREAT podcast featuring Kobe Bryant ("The School of Greatness" podcast) and he specifically talks about this. He was a terrible basketball player, and literally just showed up to the court every. single. day. to become better.

+1. Learning and knowing what is going on is very important than just doing the work and signing off the day.

dcheesi

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Re: How to make over 100k salary
« Reply #23 on: October 12, 2018, 12:46:37 PM »
Anyone out there who makes a 6 figure a year salary (individually, not combined income)... HOW do you do it?
Professional license and at least 10 years of experience should just about do it. *  (Lawyer, engineer, CPA, CFP, Doctor, Dentist, Pharmacist, Psychologist, etc.)   

*Some regions are low cost housing and low cost salary, so this is not guaranteed for everyone with a professional license.  Here, I can add in police officer, teacher, middle manager for government and social worker manger to the list of people close to making $100k with 10 years of experience.... about $90k+ anyway.
The CoL thing is important to think about in the other direction, too. You could be making $80k in a LCoL town and still have more money left over after housing/food/taxes than someone making $100k+ in an HCoL city.

BlueHouse

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Re: How to make over 100k salary
« Reply #24 on: October 12, 2018, 12:59:42 PM »
Grit. Deliberate learning and practicing your skills.

Iím not that smart. I have been diagnosed with learning disorders and have a hard time concentrating. I changed my major several times after really struggling/failing in college. I finally went to a trade school and eventually got my associates once I was in the work force.

Iím 30 and make roughly the equivalent of $300k right now in a state with no income tax and a low-medium cost of living area. Iíve made over $200k a few different years and have been making over $100k since I was 24.

That aside - I will outwork so many people. I havenít had a sick day in 7-8 years and have no issue working insane hours when needed. I have learned to work around my shortcomings to make me stand out. I make notes and lists for everything. I set alarms on my phone as constant reminders, I have my emails set up so I never forget to respond to emails that require my input. I use my soft skills to make sure I am liked and hopefully stand out to the people that matter.

Itís amazing how many smart people just suck as employees. They have technical knowledge but suck at everything else. They forget to follow up, forget to respond to emails, forget key responsibilities, have personalities that no one cares to be around, etc.

Itís funny because even around here, everyone wants to blame their work problemís on everyone but themselves. They are obviously bitter about their work, whoís to say that doesnít show in their attitude/performance and that is the key underlying factor? Iím sure all these shitty people Iíve worked with over the years are probably on some forum talking about the raise or promotion they missed because of some ďunderlying factor outside their control.Ē

I honestly believe nearly every average or even a bit below average person has the intelligence to make $100k. Only a fraction of those people have the other skills it takes to bridge that gap, however.
This is it.  Excellent summary of what it takes!

sparkytheop

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Re: How to make over 100k salary
« Reply #25 on: October 12, 2018, 05:10:10 PM »
Associates degree that allowed me to get my blue collar job, plus right time/right place, and government was hiring.

I live in a fairly LCOL area (was able to buy first house making combined $14/hr, in '97, at ages 19 and 20), although the last few years rent and housing prices have gone insane, so very thankful I bought when I did (sold after divorce and bought different house).  I definitely have one of the best paid jobs in our area.  Many locals are being pushed out due to the increase in rent, and sprawl from other areas where there are more of the better paying jobs.

MrUpwardlyMobile

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Re: How to make over 100k salary
« Reply #26 on: October 12, 2018, 06:38:16 PM »
This guy probably makes six figures at each of his jobs.  Heís s garbage man on Long Island (six figure income there) and then runs a commercial finance sales company (Six figures there though itís probably commission based).

https://debanked.com/2018/10/the-broker-how-andy-savarese-changes-collars-and-closes-deals/

use2betrix

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Re: How to make over 100k salary
« Reply #27 on: October 12, 2018, 10:51:22 PM »
Grit. Deliberate learning and practicing your skills.

Iím not that smart. I have been diagnosed with learning disorders and have a hard time concentrating. I changed my major several times after really struggling/failing in college. I finally went to a trade school and eventually got my associates once I was in the work force.

Iím 30 and make roughly the equivalent of $300k right now in a state with no income tax and a low-medium cost of living area. Iíve made over $200k a few different years and have been making over $100k since I was 24.

That aside - I will outwork so many people. I havenít had a sick day in 7-8 years and have no issue working insane hours when needed. I have learned to work around my shortcomings to make me stand out. I make notes and lists for everything. I set alarms on my phone as constant reminders, I have my emails set up so I never forget to respond to emails that require my input. I use my soft skills to make sure I am liked and hopefully stand out to the people that matter.

Itís amazing how many smart people just suck as employees. They have technical knowledge but suck at everything else. They forget to follow up, forget to respond to emails, forget key responsibilities, have personalities that no one cares to be around, etc.

Itís funny because even around here, everyone wants to blame their work problemís on everyone but themselves. They are obviously bitter about their work, whoís to say that doesnít show in their attitude/performance and that is the key underlying factor? Iím sure all these shitty people Iíve worked with over the years are probably on some forum talking about the raise or promotion they missed because of some ďunderlying factor outside their control.Ē

I honestly believe nearly every average or even a bit below average person has the intelligence to make $100k. Only a fraction of those people have the other skills it takes to bridge that gap, however.
This is it.  Excellent summary of what it takes!

Thanks!

@Steeze made a lot of great, very specific comments as well. (I took a screen shot of them to refer back for future reference)

TheAnonOne

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Re: How to make over 100k salary
« Reply #28 on: October 12, 2018, 11:36:18 PM »
Step 1: Become a programmer, work hourly for contracts making 60-100 dollars an hour vs 80-100k a year.
Step 2: ???
Step 3: Profit (to the tune of 120k@60 to 200k@100 + Overtime)


Paul der Krake

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Re: How to make over 100k salary
« Reply #29 on: October 12, 2018, 11:41:47 PM »
It's not fair but the reality is that people aren't paid the same for the same work. Most people, no matter how brilliant, have very little pricing power individually. The best thing you can do is to position yourself in a sweet spot of skillset/location where your target compensation, for whatever reason, is routine.


affordablehousing

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Re: How to make over 100k salary
« Reply #30 on: October 16, 2018, 11:42:54 AM »
One thing to consider is not how to make $100K, but how to provide $100K of value. It took me a long time to understand the difference and attitudinally what that meant that I wasn't just trying to climb the ladder or be a standout employee, but how do you provide value. For physical tasks you're providing service other people can't in a way that they can't, and you convince the consumer to pay for your services.

As an aside, $100K is imo now a low hurdle, and any risky job in oil and gas, security or military should pay over that. You could chase riches in fracking or fishing in Alaska, or you could learn a trade and supply your labor to a market that has forgotten how to do it themselves. Even house painters, drywallers and tilers get paid $150-$200K in coastal markets now with the remodel demand so high.

FamilyGuy

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Re: How to make over 100k salary
« Reply #31 on: October 16, 2018, 12:05:24 PM »
One thing to consider is not how to make $100K, but how to provide $100K of value. It took me a long time to understand the difference and attitudinally what that meant that I wasn't just trying to climb the ladder or be a standout employee, but how do you provide value. For physical tasks you're providing service other people can't in a way that they can't, and you convince the consumer to pay for your services.

Good point

2Birds1Stone

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Re: How to make over 100k salary
« Reply #32 on: October 16, 2018, 02:36:03 PM »
Sales.

Base salary of $100k+ and a commission component on top of that.