Author Topic: How do people make $100+ salary?  (Read 46156 times)

Roadrunner53

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Re: How do people make $100+ salary?
« Reply #500 on: May 16, 2018, 01:47:47 PM »
Get a job with a Research and Development company. People in that industry get paid extremely well.

elnion

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Re: How do people make $100+ salary?
« Reply #501 on: May 16, 2018, 01:59:56 PM »
PacNW or Bay? PacNW runs lower but COL is as well.

Bay Area. CoL is quite high, but San Jose (where I live) is still a bit less than San Francisco which is what a lot of people seem to compare to for the BA.

Even at the CoL differences though, it's close to a wash at entry/mid-level and senior/staff/principle sounds low at ~$300k.

caracarn

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Re: How do people make $100+ salary?
« Reply #502 on: May 16, 2018, 02:43:58 PM »
PacNW or Bay? PacNW runs lower but COL is as well.

Bay Area. CoL is quite high, but San Jose (where I live) is still a bit less than San Francisco which is what a lot of people seem to compare to for the BA.

Even at the CoL differences though, it's close to a wash at entry/mid-level and senior/staff/principle sounds low at ~$300k.
I still believe this has to be company dependent.  Our LA office did not have salaries much higher than our midwest offices for the same positions.  We had people fighting to move from LA to our midwest office so they could actually live on the salary they made versus struggling out in LA.

elnion

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Re: How do people make $100+ salary?
« Reply #503 on: May 16, 2018, 03:02:31 PM »

I still believe this has to be company dependent.  Our LA office did not have salaries much higher than our midwest offices for the same positions.  We had people fighting to move from LA to our midwest office so they could actually live on the salary they made versus struggling out in LA.

For sure, though there's deeper issues than pay-at-position-X in play at least at Google. IIRC, there's a CoL adjustment that has slightly more for the Bay Area and NYC, though it's not too big and purchasing power-wise you're better off in, e.g. Chicago. But that's only true at any given moment in time. The larger pay issue is that advancement tends towards the Bay Area and NYC, because those are the biggest offices and generally have the bigger projects/more influential teams/etc (at least in the US). Standard corporate politics type stuff. For example, I'm on a high-profile infrastructure team that would be hard to match at another office, and while Google tries to be really fair about stuff, it's still an organization made up of humans. I imagine a similar phenomena might happen at other companies, where the location pay disparity is ultimately driven more by the positions available than pay for a given position.

For someone trying to FI, the optimal path (with respect to Google) is probably taking a job at a major office and then transfer to, say, Boulder or Chicago, after getting up a few rungs and locking in a solid base salary + equity set up. Of course, that depends on your personality too. I don't find the Bay Area particularly stressful, but it seems like it rubs a lot of people the wrong way.

Chris22

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Re: How do people make $100+ salary?
« Reply #504 on: May 16, 2018, 03:18:45 PM »
PacNW or Bay? PacNW runs lower but COL is as well.

Bay Area. CoL is quite high, but San Jose (where I live) is still a bit less than San Francisco which is what a lot of people seem to compare to for the BA.

Even at the CoL differences though, it's close to a wash at entry/mid-level and senior/staff/principle sounds low at ~$300k.
I still believe this has to be company dependent.  Our LA office did not have salaries much higher than our midwest offices for the same positions.  We had people fighting to move from LA to our midwest office so they could actually live on the salary they made versus struggling out in LA.

That may be true if you transferred within the company, but I find it hard to believe they were able to hire people into the company from the local economy in LA if they were paying significantly under market wages. 
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big_slacker

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Re: How do people make $100+ salary?
« Reply #505 on: May 17, 2018, 07:07:27 AM »
Just want to get back to the total comp thing. How are you defining total? Are you including RSUs with a vesting schedule? Or just base + bonus?
« Last Edit: May 17, 2018, 09:10:48 AM by big_slacker »

caracarn

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Re: How do people make $100+ salary?
« Reply #506 on: May 17, 2018, 07:55:31 AM »
PacNW or Bay? PacNW runs lower but COL is as well.

Bay Area. CoL is quite high, but San Jose (where I live) is still a bit less than San Francisco which is what a lot of people seem to compare to for the BA.

Even at the CoL differences though, it's close to a wash at entry/mid-level and senior/staff/principle sounds low at ~$300k.
I still believe this has to be company dependent.  Our LA office did not have salaries much higher than our midwest offices for the same positions.  We had people fighting to move from LA to our midwest office so they could actually live on the salary they made versus struggling out in LA.

That may be true if you transferred within the company, but I find it hard to believe they were able to hire people into the company from the local economy in LA if they were paying significantly under market wages.
All our LA people were hired there, so I'd have to assume they were market wages, which is why it is stunning to me to see these kinds of numbers because our CA office was in no way paying those salaries and we had no issue finding people.

tomsang

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Re: How do people make $100+ salary?
« Reply #507 on: May 17, 2018, 09:29:45 AM »
All our LA people were hired there, so I'd have to assume they were market wages, which is why it is stunning to me to see these kinds of numbers because our CA office was in no way paying those salaries and we had no issue finding people.

Again, I don't believe it is industry or geographically isolated.  For those in a high demand industry it is a slam dunk day one.  For others it is more than doable if you are smart, hardworking, willing to relocate, move jobs, etc.

I know a dump truck driver that makes six figures and he is not in a major city.  Virtually, all police officers make greater than six figures after 10 years and they are also eligible for a great pension.  Fire and other services as well.

Any senior level construction person would be making six figures after a decade because there is a building boom in many places across the US and World. 

If you are able and willing to move to where the jobs are then I don't see much of a hurdle to hitting six figures.

Based on your posts I would think that you should be looking for a career at a different company.  The unemployment rate is ridiculously low right now.  A smart, hard working person should be bringing home significantly more compensation than you are currently making.

elnion

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Re: How do people make $100+ salary?
« Reply #508 on: May 17, 2018, 10:38:30 AM »
Just want to get back to the total comp thing. How are you defining total? Are you including RSUs with a vesting schedule? Or just base + bonus?

Me, I assume? Base + Bonus + RSUs, annualized basis. My vesting is quarterly, no cliff, and gets refreshed with a new 4-year grant after end-of-year performance reviews. I don't hold on to my shares (and will be enrolling in auto-sale once I'm able to), and since they're in a liquid publicly traded company, they're basically cash albeit subject to some market variance between grant and vest time.

I would not count RSUs/options in my total comp if I were at a startup without a public share market.

Are you talking only base + bonus? That would definitely lower the numbers a bit. Comp is designed long-term around RSUs, as the increasing refreshes mean that RSUs match and potentially exceed the base salary, particularly at higher levels where RSU grants outpace salary bumps.

Roadrunner53

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Re: How do people make $100+ salary?
« Reply #509 on: May 17, 2018, 12:10:54 PM »
I worked in Food Research and Development for a super large corporation that is world wide. I was a low man on the totem pole and made $60K+. I didn't start off making that much but was there for many years. There were food scientists, microbiologists, technologists, engineers, project managers, head of R&D, and many other positions. Those people made big, big bucks. It was a Monday thru Friday job for the most part. I used to travel a lot and would leave for my destination mostly on Sundays and got paid double time to fly on a plane across the country. Sometimes I would travel with my boss and with my double time I think I made more than them per hour! However, I was hourly and they were salary so they didn't get any extra money but could take comp time. R&D typically had DEEP pockets and you could buy just about anything you wanted for the lab. No questions asked. Raises were always very generous and I was promoted twice. Loved that job but they moved out of my state and I decided not to move. I also worked for another R&D company but it was a crappy company and they were teeter tottering financially. Horrible environment. The pay was decent, benefits were good, not great. I hung in there because of 'my age' until they laid off 5 of us. They were not a big corporation. They were just one small company of about 50 people. If you go for R&D look for the big ones like P&G, Cocoa Cola, Pepsi, General Mills and many others. The smaller companies struggle with money and selling their inventions or products. The only good thing about one of these small crap companies is a stepping stone for a new college graduate. They can suck up technology like a sponge and stick around for a year or so then bail for a better company. That is what I would do. Unless the small crap company has a real breakthrough, there is no future there. With an international company you can have opportunities to work in other countries for a few years. This is a real career booster. When you return to the states after an assignment, there is usually always a promotion for you.

As a side note, I would also suggest that you learn a second and third language. This is another thing that will help you up the ladder. French, Spanish and Chinese would be my choices.

big_slacker

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Re: How do people make $100+ salary?
« Reply #510 on: May 17, 2018, 12:31:54 PM »
Just want to get back to the total comp thing. How are you defining total? Are you including RSUs with a vesting schedule? Or just base + bonus?

Me, I assume? Base + Bonus + RSUs, annualized basis. My vesting is quarterly, no cliff, and gets refreshed with a new 4-year grant after end-of-year performance reviews. I don't hold on to my shares (and will be enrolling in auto-sale once I'm able to), and since they're in a liquid publicly traded company, they're basically cash albeit subject to some market variance between grant and vest time.

I would not count RSUs/options in my total comp if I were at a startup without a public share market.

Are you talking only base + bonus? That would definitely lower the numbers a bit. Comp is designed long-term around RSUs, as the increasing refreshes mean that RSUs match and potentially exceed the base salary, particularly at higher levels where RSU grants outpace salary bumps.

Yes, I was talking base + bonus, sorry for the confusion. I guess I should include RSUs for long term employees (Sr/Principal level) since they're not so much in danger of hopping somewhere else and having to ramp up a vest schedule. I just have that mode of thinking because I've known quite a few folks lured to AMZN with what looks like on paper a generous comp package but heavily loaded with RSUs. A year or two later they're sick of 12-14 hour days and don't even care about 'losing' that stock.

elnion

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Re: How do people make $100+ salary?
« Reply #511 on: May 17, 2018, 05:06:09 PM »
Yes, I was talking base + bonus, sorry for the confusion. I guess I should include RSUs for long term employees (Sr/Principal level) since they're not so much in danger of hopping somewhere else and having to ramp up a vest schedule. I just have that mode of thinking because I've known quite a few folks lured to AMZN with what looks like on paper a generous comp package but heavily loaded with RSUs. A year or two later they're sick of 12-14 hour days and don't even care about 'losing' that stock.

Ah yes, the schedule and risk of losing them is a definite factor. Quarterly vesting (and will likely bump to monthly next year), no cliff means it's not really a risk in the same way for me, since they basically pay out alongside salary. Note that this is true in general at Google.

I've heard from several former-Amazon folks here that Amazon likes to backload the RSU schedule, so that job hopping is much more likely to cause a loss there. You're probably right to consider them differently when that's true or if similar risks are part of the contract.

JLee

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Re: How do people make $100+ salary?
« Reply #512 on: May 20, 2018, 08:10:12 PM »
All our LA people were hired there, so I'd have to assume they were market wages, which is why it is stunning to me to see these kinds of numbers because our CA office was in no way paying those salaries and we had no issue finding people.

Again, I don't believe it is industry or geographically isolated.  For those in a high demand industry it is a slam dunk day one.  For others it is more than doable if you are smart, hardworking, willing to relocate, move jobs, etc.

I know a dump truck driver that makes six figures and he is not in a major city.  Virtually, all police officers make greater than six figures after 10 years and they are also eligible for a great pension.  Fire and other services as well.

Any senior level construction person would be making six figures after a decade because there is a building boom in many places across the US and World. 

If you are able and willing to move to where the jobs are then I don't see much of a hurdle to hitting six figures.

Based on your posts I would think that you should be looking for a career at a different company.  The unemployment rate is ridiculously low right now.  A smart, hard working person should be bringing home significantly more compensation than you are currently making.

I assume you must be talking about LA, because if not, LOLOLOLOL.

https://swz.salary.com/SalaryWizard/police-officer-Salary-Details.aspx?&yearsofexperience=12

-signed, a former LEO
« Last Edit: May 20, 2018, 08:12:35 PM by JLee »

tomsang

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Re: How do people make $100+ salary?
« Reply #513 on: Today at 09:23:10 AM »
[I assume you must be talking about LA, because if not, LOLOLOLOL.

https://swz.salary.com/SalaryWizard/police-officer-Salary-Details.aspx?&yearsofexperience=12

-signed, a former LEO

You should never use salary.com for salary information.  That site is not accurate. 
What city are you in? 

With overtime, businesses hiring you for special events, longevity bonuses, education bonuses, and every other bonus that you would qualify for if you were there for 10+ years then you should easily be making $100k if you are located in a reasonable sized town.  Again moving may be in many people's best interest.  Many/most of these positions are also eligible for a very sweet pension.  In Seattle it is 60% of your salary cost adjusted for life.  These pensions are probably worth another 1/3 of your compensation if you figured out the value.   

http://www.nj.com/bergen/index.ssf/2017/05/the_25_towns_with_the_highest_police_salaries_in_nj.html

https://www.seattle.gov/police/police-jobs/salary-and-benefits

https://everettwa.gov/DocumentCenter/View/1050/Recruitment-Brochure-PDF

http://www.edmondswa.gov/images/COE/Government/Human_Resources/2018_POLICE_wage_schedule.pdf

Virtually everyone on the LAPD makes over $100k.  http://salaries.scpr.org/list?commit=Search&page=50&query=police+sergeant&utf8=%E2%9C%93

effigy98

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Re: How do people make $100+ salary?
« Reply #514 on: Today at 01:29:50 PM »

I work for one of the big west coast tech companies in the seattle area and want to give some perspective on this just as effigy does above so you know he's not just talking out of his ass. ;)

I'm a senior engineer on the infrastructure side of things and design/build some of the worldwide IT infra for 'big tech', we make similar $$ to what effigy quotes. And like he says it sounds absurd and unreal but it's no lie. Just about everyone in the building makes over $100k, Sr level high 100's to mid 200's. Principal level mid 200's-low 300's total comp. I hope he's talking total comp, otherwise I should learn to slang some code. :D


Those numbers actually sound kind of low for total comp at the major west coast tech companies. I'm a mid-level SRE at Google and make a little over $200k/yr total comp not including extra on-call compensation. If we have Principle Engineers making under $500k total comp, then something is going very wrong.

As far as work conditions go, working at Google feels fairly laid back to me. I have my complaints, and work certainly tends to pile up until it becomes stressful unless you manage expectations and limit the work in progress queue well, but it's generally very 9-5ish unless I'm on-call, which I'm compensated for as well (in either dollars or extra PTO, my choice).

Those numbers big_slacker quoted are dead on with my company, we probably work at the same one... I know we are underpaid compared to a few other companies (including me). Yes I was talking total compensation. I REALLY enjoy my worklife balance (4 real hours of work required) here however, the network of people I know, and the location (can bike in from my home on a bike trail mostly), I hate interviewing, and the place just seems like my second home now so I rather just ride out my final years until FI here. I HIGHLY recommend you try to get into the higher paying tech companies first if you are planning on moving here. Total compensation is key vs salary so keep that in mind.
« Last Edit: Today at 01:35:04 PM by effigy98 »

JLee

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Re: How do people make $100+ salary?
« Reply #515 on: Today at 05:25:17 PM »
[I assume you must be talking about LA, because if not, LOLOLOLOL.

https://swz.salary.com/SalaryWizard/police-officer-Salary-Details.aspx?&yearsofexperience=12

-signed, a former LEO

You should never use salary.com for salary information.  That site is not accurate. 
What city are you in? 

With overtime, businesses hiring you for special events, longevity bonuses, education bonuses, and every other bonus that you would qualify for if you were there for 10+ years then you should easily be making $100k if you are located in a reasonable sized town.  Again moving may be in many people's best interest.  Many/most of these positions are also eligible for a very sweet pension.  In Seattle it is 60% of your salary cost adjusted for life.  These pensions are probably worth another 1/3 of your compensation if you figured out the value.   

http://www.nj.com/bergen/index.ssf/2017/05/the_25_towns_with_the_highest_police_salaries_in_nj.html

https://www.seattle.gov/police/police-jobs/salary-and-benefits

https://everettwa.gov/DocumentCenter/View/1050/Recruitment-Brochure-PDF

http://www.edmondswa.gov/images/COE/Government/Human_Resources/2018_POLICE_wage_schedule.pdf

Virtually everyone on the LAPD makes over $100k.  http://salaries.scpr.org/list?commit=Search&page=50&query=police+sergeant&utf8=%E2%9C%93

You said "virtually all police officers" -- not "virtually all HCOL police officers."  There are plenty of places where that is possible, but "virtually all" is laughable.

https://money.usnews.com/careers/best-jobs/patrol-officer/salary

https://www.cheatsheet.com/culture/states-pay-police-officers-highest-lowest-salaries.html/?a=viewall

https://www.bls.gov/oes/current/oes333051.htm