What did you do (grad school, career move, job move, new skill, etc...) that pushed you into to that stratosphere of earnings?

Long story short I am not happy with what I make and am willing to do just about anything to move into a career that will put me in that level of income.

Id appreciate any tips or constructive criticism

Finance background

MRB10 said:

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Commercial insurance underwriter
Psychology undergrad.
Work less than 40 hours most weeks.
Total comp was north of 200k for the first time last year.

I'm in my mid-30s.

Edit: I've been doing this for 10+ years, know how to do the job well, am constantly a high performer, and have a good reputation in my region. There was no secret sauce other than keep doing the thing well for a long time.

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Are you able to PM? Would love to ask you a couple of questions etc. My college age son is looking to get into the industry (likely in a producer role on the P&C side).

Finance degree and MBA. Work in software.

I don't pay for stars but feel free to email.

Sales?

I run customer success and support.

Not sure where on the finance spectrum you are but in my own experience, controllership got me to the low/mid 100s and for the most part stagnated there.

With a really good handle on the GL/P&L, the next step for me was operational finance and partnering with operations. Making the transition from "bean counter" to someone who can actually help sales and operations do their jobs better and more profitably was a big move in the right direction. Once the operations folks start advocating on your behalf, clear skies and smooth sailing from their to executive management roles.

Took about 10 years between $0 and $125k and 3 years between $125k and $200k

I dont make 200k but i have a two siblings that do. they are in the tech world. one has a psychology degree and higher education degree, started out at a help desk, moved around every 3-4 years, now works at a big software company in sales.

other one was double major (math and business). went to work for a tech company out of school (business analyst, jumped around a few times, now is an IT director for a private company. he is in his mid 30's.


both of them are very driven and always chasing money, so that has been a pretty big motivator. That being said, both had moments of losing jobs/layoffs so its not to say it would always be making that much all the time. there was also some moments of right place/ right time/right industry as well.

hedge said:

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I first would need to make $150-175

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when you get to that point you'll realize that you wont be going higher EVER!

Have been $250ish for the past 5 years or so. Will clear $300k this year after my company was acquired and I got an offer with the new company. I have a BS in Environmental Science. I'm consistently a top producer. I put my head down and work hard. I take on complex projects and excel. I'm considered a support role (cost center not a profit center) but I make sure our ops team see value in what I do and truly support their ability to be a profit center. There's no secret sauce in my personal experience.

Maverick06 said:

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Have been $250ish for the past 5 years or so. Will clear $300k this year after my company was acquired and I got an offer with the new company. I have a BS in Environmental Science. I'm consistently a top producer. I put my head down and work hard. I take on complex projects and excel. I'm considered a support role (cost center not a profit center) but I make sure our ops team see value in what I do and truly support their ability to be a profit center. There's no secret sauce in my personal experience.

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In a support role, and I think particularly in accounting and finance, this should be the key takeaway. There's not a lot you can do as an individual contributor to warrant a $150k+ salary if you're on an island. In sales, you can easily pull down big dollars as a revenue generator/individual contributor but that's just not true in an accounting and finance role.

You may have some individual contributions that are one-offs at that level and you'll hopefully get an atta-boy but until you establish yourself as part of the cost-cutting/revenue increasing process I just don't see it happening. Once you're managing a SIOP function and have more exposure to different managers, you're in business.

i'm in IT sales. I have a masters degree, but certainly don't need it for this gig.

started as finance analyst, finance mgr and eventually finance leader director/vp. right company/right time and the opportunity eventually came

CPA > grind it out at public accounting firm for 10+ years > jump to private. to be fair though public accounting pays decent but the salary/hr and salary/stress sucks.

as it applies to you - be prepared to jump ship to get the salary bumps you need and find the job/employer that builds the resume. Public accounting was a grind and it sucked most of the time but i knew every year added there set me up for higher future earnings/employer openings.

in finance, sounds like you need to be a assistant controller/controller at a small company and jump every 2-3 years after you improve the business to a higher tier company. do that a couple times then you can probably find a stable controller type job at a steady company.

I'm debating serious career switch to IT/Cyber….

Sims said:

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Maverick06 said:

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Have been $250ish for the past 5 years or so. Will clear $300k this year after my company was acquired and I got an offer with the new company. I have a BS in Environmental Science. I'm consistently a top producer. I put my head down and work hard. I take on complex projects and excel. I'm considered a support role (cost center not a profit center) but I make sure our ops team see value in what I do and truly support their ability to be a profit center. There's no secret sauce in my personal experience.

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In a support role, and I think particularly in accounting and finance, this should be the key takeaway. There's not a lot you can do as an individual contributor to warrant a $150k+ salary if you're on an island. In sales, you can easily pull down big dollars as a revenue generator/individual contributor but that's just not true in an accounting and finance role.

You may have some individual contributions that are one-offs at that level and you'll hopefully get an atta-boy but until you establish yourself as part of the cost-cutting/revenue increasing process I just don't see it happening. Once you're managing a SIOP function and have more exposure to different managers, you're in business.

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Agreed. Unlike a lot of people who get there bouncing around, I stuck with one company and developed the reputation of supporting the organization's key initiatives and mitigating risks. And now I'm at a $210k base with about a $30k bonus, after coming up through HR.

Early 40s, bachelors degree. What pushed me over $200 was probably attrition through a restructuring, and becoming the go-to person who pulled things together.

This is a pertinent question for me as well. I got a super late start in a professional life and though I am single I am already planning on a future family. My own upbringing was extremely poor so mixed with my late start I get very anxious about my ability to provide in the future. It literally keeps me up at night.

Anyone got any ideas for a late 30s currently unemployed (Caught in a RIF unfortunately) dude with not a lot of professional work experience? Blue collar most of my life and the field I was in is simply not applicable anywhere else. I feel like I need to make a pivot but also feel that I don't have a lot of time to "experiment" so I crush myself with the need to make the right decision the first time and then get locked in analysis paralysis. I figure a new certification will be needed but again, get stuck in my head trying to figure out which one or even what field. Need ideas to research into. What would yall do in my situation?

I am not looking for the easy route per se of course, and fully accept I'll be starting at the bottom again. Just looking for a higher ceiling (more than I am used to at least) through dedicated work to compensate for the lost years ****ing around in sand dunes.

Eliminatus said:

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Anyone got any ideas for a late 30s currently unemployed (Caught in a RIF unfortunately) dude with not a lot of professional work experience? Blue collar most of my life and the field I was in is simply not applicable anywhere else. I feel like I need to make a pivot but also feel that I don't have a lot of time to "experiment" so I crush myself with the need to make the right decision the first time and then get locked in analysis paralysis.

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First thing that came to mind is to leverage the blue collar work experience. There's something to be said for someone who is willing to put in the hard, physical work that a "professional" resume doesn't appreciate.

I used to work for Nucor and there was an obvious career trajectory and speed for the entry level hands that had a good head on their shoulders versus the ones that would just stay at that shop floor level and keep making (dang good) money there. The lead -> supervisor -> manager track was particularly quick if you were willing to relocate.

powerbelly said:

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What were you doing? What do you like to do?

I am happy to chat offline, I may not be able to help, but I will try.

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Ah. yeah I guess that would be helpful huh.

Bachelors in electronics engineering, not quite two years working in defense before the axeman came. I was an explosives tech previously.

As far as what I want to do, that's a damn good question. I have no real idea. I can see myself doing all sorts of things and that is the crux of my mental battle right now. I feel like I actually have a lot of routes I can pursue but can't figure out which one. Which is a weird problem to have. My interests are so wide and varied it's hard to apply them to narrow anything down. So open to all ideas right now. I am not quite ready to jump into a new job as I sit here right now but figure the time needed to knock out a cert or two will also buy me the time to be ready. So I am not quite 100% actively looking but also kinda am. If that makes any sense. I think my caution of getting this right is part of that too.

Appreciate the help so much, thanks.

Sims said:

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Eliminatus said:

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Anyone got any ideas for a late 30s currently unemployed (Caught in a RIF unfortunately) dude with not a lot of professional work experience? Blue collar most of my life and the field I was in is simply not applicable anywhere else. I feel like I need to make a pivot but also feel that I don't have a lot of time to "experiment" so I crush myself with the need to make the right decision the first time and then get locked in analysis paralysis.

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First thing that came to mind is to leverage the blue collar work experience. There's something to be said for someone who is willing to put in the hard, physical work that a "professional" resume doesn't appreciate.

I used to work for Nucor and there was an obvious career trajectory and speed for the entry level hands that had a good head on their shoulders versus the ones that would just stay at that shop floor level and keep making (dang good) money there. The lead -> supervisor -> manager track was particularly quick if you were willing to relocate.

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That's actually a good point. I think I got burned in the past by it so subconsciously have been shying away from trying to leverage it for some time. Which in hindsight, is not rational and will amend that looking forward. Thanks for pointing that out.

well_endowed_ag said:

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Law school. Came out in 2013 making $160k base at a big firm, and that has gone up through the years. I'm now about $450k base as a partner at a smaller firm. Bonus/end of year draw this year will be about another $150k.

Big law firms are paying first year kids out of law school $220k base now I believe, with a bonus of I think $30k. Base goes up like $20-30k a year, and bonus goes up like $10k a year. Just Google the Cravath scale.

I am 35 for reference.

Law school probably isn't on your wish list, and it is a stressful career, but if you're smart, get good grades, and find a good fit at a firm, there is a lot of money to be made.

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The one area I looked hard into after my lay off was law school. Even started studying for the LSAT. Then I found out LSAC looks at ALL GPAs when they say cumulative. So my first attempt at college is now an anchor on me that immediately DQs me from a T70 at an absolute minimum. Including TAMU Law which is the school I was going to go for broke for. So here I am, adrift in indecision in where to pivot next. I think the safe bet though is to just keep looking at LSAT material which I had already bought and maybe some time in the future I might take the LSAT just to see. Maybe.

The one and only guest speaker who had any sway on me at school was a lawyer who planted a seed. I hate that man now. Curious what field you practice in? Was looking at patent/IP myself.

Not sure how electronics engineering compares to electrical engineering or project controls, but the utility industry, especially consulting for it, might be an avenue.

My uncle is a parent attorney. It is a great career. If you are interested, I think you should take a chance.

Move into a revenue generating role. I'm in consulting and have been for the past 3+ years.

Certainly more stress and what's asked of you compared to the 13 years I spent in IT for O&G but it also pays considerably better.

hedge said:

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I'm debating serious career switch to IT/Cyber….

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I'm a Security Engineer/Architect. Definitely more money to be had in Cyber, but it can be a painful industry to get into. If you want to make $200+ in IT then it'll pretty much have to be in something cloud related or a director type role (unless it's a HCOL area).

In security, definitely a lot more opportunity to get in the mid $100's and up. Big tech firms can get you there much faster, and consulting will be the quickest path to those type of comps. Most of the industry went remote for COVID, but a lot more opportunities for in office. The only problem is the logjam at the bottom.

Somewhat related, software engineering can be extremely lucrative, as well. Takes some work to catch up, but just about unlimited resources out there and a skill that is valuable in A LOT of industries.

NM